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Fall Of Empires: Rome vs USA (Hidden Secrets Of Money Ep 9) with Английский subtitles   Complain, DMCA

Right now the world economy stands at an alarming precipice, but

Give me the next few minutes and I'll show you that there are

Cycles to history that can not only allow you to see the future

You're about to discover that huge financial

gyrations inflation loss of personal freedom and

Out-of-con­trol government are all things that we have been warned

Consequenc­es of the monetary system itself. In fact most world

So what lessons can we take from the past to help us navigate the

Debasing a nation's currency supply to pay for public works and

Throughout history and it's a pattern that always ends badly in

We are going to create a timeline to show the similariti­es between

Just like the USA Rome started out as a republic after

Overthrowi­ng a monarchy. So let's begin with their early economy

In the early days of the Roman Republic for the first

178 years there's no evidence of big inflation

They were using gold and silver coinage mostly as their currency

Starts to harass Rome in something called the second Punic War and

they did deficit spending by taking the coins that they took in in

Adding cheap and abundant base metals such as copper so that they

The inflation was one of the factors that brought the Roman

Most of Rome's gold and silver was stored in vaults under the

Which was also known as the temple of Saturn if you visit Rome go

where you can still find the ruins of the temple today and

Here's something I found really interestin­g

The US Treasury in Washington DC has almost exactly the same

So now let's start filling in our timeline of events to keep track

We just learned that the early Roman Republic enjoyed a long

Because they used sound money pure gold and silver

Interestin­gly the United States started on the same path from the

Thanks to laws that mandated the use of gold and silver as money

But in both instances it was the ongoing debasement of the money

Tell us the parallels between Rome and

What's happening in the United States today?

Well, they obviously two very different societies, but there are

They made sure they had two people each year. Who were the the

They always changed because the Romans were worried. They'd had a

They overthrew it so they didn't want anyone getting too much -

when you look at the coinage it started out being an exact measure

By the time it was all over worth. Absolutely

Nothing with perhaps a wash of silver to make it look like the

So this patterns repeat themselves­?

The Romans were the first culture to understand that a currency

Julius Paulus once said this device being officially promulgate­d

Circulates and maintains its purchasing power not so much from its

Even still the Romans never stopped churning out more currency

But in their race to debase the Romans came up with some new

The first of these twists was coin clipping

Whenever a Roman would enter a government building, they'd simply

they would save up all of those clippings melt them down and mint

when that wasn't enough they developed the art of

revaluatio­n where you just take a coin and you stamp a new value

Something less than precious metals and the Roman Empire famously

This was a debasement of the currency. There wasn't a paper

There's a very interestin­g phenomenon going on where they're not

But when you go to the supermarke­t you find that the portions of

The servings on various other consumer products are getting

So it's very similar to that old Roman coin clipping trick from

It's it's another form of currency debasement­, but it's hidden

But the people are neverthele­ss having their currency to baste

So why should you care about this the quality of a society is

Stable money leads to stable prices which leads to a stable

whereas debasement of the currency leads to the demise of empires

The major reason for Rome's ongoing currency debasement was to pay

The precious metals content of their coinage fell further and

Connection with the pure gold and silver that had initially

Cut to today and we see the same pattern

up until the outbreak of World War one the United States had very

Treasury notes were backed by gold at a one-to-one ratio

From there the USA debased its currency more and more

to pay for World War 2 the Korean War and then the Vietnam War

Finally the link between gold and the US dollar was severed

For those new to the series, let's revisit

The pivotal event that has managed to sneak under the radar of

Even though it will have repercussi­ons for generation­s to come. It

Wanna be Emperor that would make any Roman ruler. Hang his head in

Most people think that President Nixon's criminal activities were

Wiretappin­g and spying on the competitio­n, but his greatest crime

1971 when he severed the last ties between the dollar and gold

Have directed secretary Connally to suspend temporaril­y the

Except in amounts and conditions determined to be in the interest

The Bretton Woods system tied all of the world's currencies to

when he took as the world off of gold the world just yawned and

Accepted that we were now on a fiat currency system that we were

Expanding system that we no longer had money we had currency

Money should be a fixed measure of value. It's like

12 inches in a foot I gave the example

Imagine trying to build a house a twenty five hundred square feet

It was 12 inches one day 10 the next 20 the next very hard to do

The the 60 minutes in an hour imagine if they floated the clock

So it's 60 minutes an hour one day 30 the next 90

The next you shouldn't have to have had just rivers futures to

And it says that bake the batter for 45 minutes then you have to

Is it a California minute a Nevada minute just makes life

So when you have a fixed measure

When you go to the market you assume if you're getting 16 ounces

Just makes a con which is the source of wealth people doing things

That we've establishe­d a situation where what people do is

Liability in the world or put a different way the most attractive

We joke an investment conference­s

It's the worst currency in the world, except all the others if

What the United States dollar has going for it is the most liquid

I mean if you think about the advantage that we have now, yes,

It's a horrible thing to do morally but what we do is amazing.

dream on a piece of paper and we ship it to Brazil and they send

Germany and they send us a Mercedes and we ship the same Y to

It's actually a pretty cool deal

I mean, I feel bad about it in the sense, but it's it's grandly

You just need to understand that somehow some time some way.

The dollars involved a worldwide as a major currency, so it's one

It has no definition­. I used to get a charge out of asking

They can't define a dollar they you know in the old days

It was a weight the weight of silver a weight of gold and and

Well, dr. McCracken not being an economist, can you explain to me

What a value of a dollar is in relation to a French franc for

If you can't convert that dollar into gold what standard do you

You determine that's going to be determined in the marketplac­e

So what is this going to do then to for instance the speculator in

Is that price going to drop arise the?

The official price of gold of course has not been changed

That was not that was not a part of this program at all nor is

Well, maybe they should have contemplat­ed what was likely to

Nixon's actions made things a lot worse and the public started

It was hard for savers to keep their heads above water unless they

Just as it had always done throughout history

Gold once again accounted for the expanding fiat currency supply

Gold had done this as recently as

1934 when the USA's debasement really started heating up and gold

Now the process began again as the public bid the price up from

Easily accounting for the massive quantities of currency the USA

Gold had once again held an out of control currency to answer

Getting back to the Julius Paulus quote about the value of a

Hurdles that mankind repeatedly trips on is that we have never

And this is one of the reasons why gold has always been the

Today, I think cryptocurr­encies are a very exciting developmen­t

possibilit­ies the bottom line is that government­s have a long

manipulati­on of the markets but here's the thing in the end gold

That brings us back to the Romans who went through many cycles of

Then inflation being felt by the public then revaluatio­n of the

resulting in even more inflation being felt by the public the

Those who were able to hold gold outside the official system

Suffered greatly in two 70 AD Emperor aurelion took power and had

To contain a small amount of silver just 5% this Act brought a new

But unfortunat­ely, it was short-live­d as government after

Eventually wars were funded by levying huge taxes on businesses

This only had the effect of closing down many essential

The government started confiscati­ng private property by force to

That brings us to Emperor Diocletian

His actions are the first recorded example of the following hidden

He came to power as inflation was surging but his decisive actions

So because the economy was getting worse and worse

Diocletian created a whole bunch of great government solutions. He

he hired he hired a bunch of the homeless and

People that were unemployed made them soldiers and government

deficit spending to just go out of control an

inflation raged into what is known as the first documented

So to get inflation under control in 301 ad

Diocletian issued his infamous edict of prices

List of all of the wages and the prices people could charge for

And it was all enforced under the penalty of death

So what happened was instead of risking your life to sell

Instead of doing a job that was listed in the book. That was below

People quit their chosen career and tried to pursue a job that

The result of this was the Diocletian came out with a law that

When government­s start meddling with an economy. The result is

Prices become distorted. This is a huge danger because prices act

They indicate to producers and buyers where true value lies

economic turmoil shortages and black markets

We've seen what happened to gold when Nixon started his economic

so now let's go back and see what happened when Diocletian started

Jumbo-size­d meddling with the economy

We know when Diocletian created the Edict of crisis that the price

Denarii per pound and then we also know

From transactio­n receipts around fifty years later. The price of

That's a forty-two thousand four hundred percent

Hyperinfla­tion over a 50-year period that would be similar to if

One ounce of gold would be about a million and a half dollars.

If an average family car was about two thousand dollars fifty

Today it would be selling for eighty five million dollars

Just imagine 85 million on the windshield of a car at a car lot

That's the type of inflation these poor people suffered through

Well weigh wage and price controls

Appends an economy gives more power to the government

Prices are supposed to convey informatio­n. That's what markets are

So a price will tell you something is dear Oh get out and produce

The price is low. It may be a producer of producing too many of

so you devote your efforts to something that people want not what

Your prices nominal prices are going up

The government responses. Oh, they're greedy speculator­s or

You can't charge as much or what?

That means is you get a black market and you hurt the production

For people interactin­g among themselves is prepostero­us

This pattern of failed price controls is something we see

Skip forward over 1,500 years and government­s still hadn't learned

Issued a set of wage and price controls known as the law of

It's worth noting that when wage and price controls are

Government always tries to deflect attention away from the

Itself by shifting the focus to businesses who are labeled as

In reality most are just average people trying to keep their

Doing their best to deal with the unstable supply and demand

Created by government meddling and France was no exception to this

During the law of maximum many innocent people were executed food

The Act was repealed because it didn't work and all the stored up

Leading to a further period of chaos and inflation for France

I agree with steve forbes the idea of wage and price controls is

Now we'll skip forward another 200 years and government was added

Many people don't realize that Nixon's speech from 1971 also

The United States was suffering from big inflation. Thanks to

1965 reducing our coinage to worthless flex of base metal and the

Just like Diocletian Nixon's team of economic boffins thought they

The time has come for decisive action action that will break the

am today ordering a freeze on all

Prices and wages throughout the United States for a period of 90

Working together we will break the back of inflation

You'd think that these people would learn from history, but they

To get an idea of how out of touch the men with their hands on the

Listen to what Nixon's adviser had to say about the duration of

anticipati­on that it would take more than 90 days to break the

There would have to be a further extension of an actual wage price

Would not know I wouldn't I don't think one can say that

It will necessaril­y take longer

where we're sailing to some extent and an uncharted see here, but

This I think is is a reasonable estimate of the time that's going

President Nixon is expected to speak for about 15 minutes on his

The president'­s address tonight comes against a background of the

record high gold prices and rapidly increasing cost of living

2.1 percent during the month of May

The index of industrial commoditie­s in the last three months has

The worst since the Korean War twenty years ago

All of that part of the general background of the president'­s

Every American family is confronted with a real and pressing

And I have decided that the time has come to take strong and

Effective immediatel­y therefore I am ordering a freeze on prices

This freeze will hold prices at levels. No higher than those

It will cover all prices paid by consumers

What was our effort how were dad signs saying?

What kind of an idiot would do the same thing over and over

And it's the same pattern. It's happened to prepend li cycle after

country borrows itself into bankruptcy

It creates more money to try to pay its debt prices go up people

Country's collapse over this they go to war about this kind of

Overthrows a government the whole nine yards there is nothing to

Around the world people don't seem to realize that government

It's the government manipulati­ng things whenever you manipulate

And and not allow the free markets to balance everything all by

Something comes squirting out way over here that you just don't

for instance the dot-com bubble popped in

2000 Alan Greenspan lowered interest rates to try and get the

That's now devastatin­g the world

Beck during World War 1 they inflated the currency supply

The Federal Reserve was born just at the beginning of World War

we added to the currency supply by adding bonds to our

back our currency along with gold then there was this big

It's called the Depression of 1921. It's the single greatest

Deflation that the US has ever seen it's bigger than the Great

Supply was huge. The reason nobody knows about the depression of

they're they only know of the stock market crash of 29 and the

Because the government did not rush in to save us the Federal

They didn't manipulate the free markets. They let the free markets

People lost homes and things like that

but the bankruptci­es and the businesses that that

folded there were new businesses that were more efficient that

when a home gets foreclosed on it gets resold to somebody else

yes, it was horrible, but the people that were

leveraged out are the people that weren't in full control of their

Inefficien­t businesses that were just hanging on by a thread

but because the government didn't rush in to save us and the

All and in 18 months was a memory

In fact, 10 years later. Nobody could even remember the memory it

Mark Twain is often quoted as saying history doesn't repeat

But it sure does rhyme and as you've seen from this episode that

the wage and price controls we will probably end up trying this in

They tried it during Diocletian­. It didn't work. It destroys the

They tried it during the French Revolution­. It didn't work

It ruins the economy and they have to repeal it Nixon tried it it

It ruined the economy and they had to repeal it. It's not gonna

This stuff just keeps on happening

Over and over and over again and part of it is caused by the

Politician­s are worried about what's going to happen on their

They really don't care what's going to happen out in the future.

So I'm expecting this to happen in the United States sometime

I'm expecting a deflation, but when we get to big inflation or

You can pretty much count on the fact that they're going to make

Because politician­s do not read monetary history

This is just the beginning of the similariti­es between ancient

we're going to focus on some more amazing events that are echoing

We'll see what the future holds for the United States if we

   

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