A basic lesson on currency

Discussion about the Federal Reserve System, the history of currency in the United States, the difference between hard money and fiat money, global politics, and an introduction to international banking. This video was made for the purpose of educating people about these major issues. All views are strictly my own. Feel free to use, copy, and share this video.

Footnotes -- When talking about the original writing on American currency I paraphrased the actual words. The original words that were printed on American banknotes were -- "This note is legal tender for all debts public and private, and is redeemable for lawful money at the United States Treasury or at any Federal Reserve Bank." Another version of the text on older bills is "Redeemable in gold on demand at the United States Treasury, or in gold or lawful money at any Federal Reserve Bank." Today this is not case. As there is nothing backing the American dollar except the full faith and credit of the United States government, which is sketchy at best. Also, the United States cut all ties with the reserve system (gold standard) in 1971 while in the midst of the Vietnam war.