You are on page 1of 2

1

00:00:00,640 -> 00:00:04,100


Barter consists in exchanging one's own good for that of another person.

2
00:00:04,100 -> 00:00:08,000
but that just demands that both want what the other offers.
Not easy?

3
00:00:08,460 -> 00:00:12,560
That is why some goods easy to transport and divisible kept their value

4
00:00:12,560 -> 00:00:16,200
and were progressively accepted as a means of payment
and unit of account

5
00:00:16,200 -> 00:00:20,680
This is why salt, tobacco, copper, gold and silver were used.

6
00:00:21,060 -> 00:00:25,620
Some scammers rulers began filing gold coins reducing their weight

7
00:00:25,940 -> 00:00:29,900
they made more coins with the same amount of gold, devaluing them.

8
00:00:30,280 -> 00:00:34,285
People are not stupid and started asking for more coins for the same good,

9
00:00:34,285 -> 00:00:36,960
That is inflation, it is what happens in Argentina

10
00:00:36,960 -> 00:00:40,040
to finance the Goverment expense the Central Bank prints
more and more pesos

11
00:00:40,040 -> 00:00:44,460
reducing its value and produced a
53% annual inflation,

12
00:00:44,460 -> 00:00:48,480
and since 1970 it took 13 zeros from the coin

13
00:00:48,960 -> 00:00:53,680
with each zero it acknowledged that 90% of the value was removed
from our savings in pesos

14
00:00:54,040 -> 00:00:56,260
Inflation would end if it stoped printing

15
00:00:56,500 -> 00:00:59,240
How will we end the scam?

16
00:00:59,240 -> 00:01:01,720
We will see it in another video.

You might also like