Thursday, August 17, 2017

What The Heck Is MONEY?! Money 101

What is money and how does it actually work? I'll take you through it in this video.

Start with the barter system
United States implemented the gold standard
Gold certificates as the first form of paper money
Stock Market Crash of 1913
How banks works
United States Government created the Federal Reserve Bank (aka the Fed) in 1913
The Federal Reserve Bank (the Fed) requires you to use money so they can print money
The Fed printed too much money
Richard Nixon made the biggest changes to the US monetary policy in 1971
Our dollars were taken off the gold standard by Richard Nixon
Money backed by nothing - why $1 can afford a pack of gum
No tangible thing backing money
Something to think about for United States debt
Why it's so important to understand how to invest your money
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