So if I give 100 euro to the 'banker' , and they give me back 100 of their local currency that is printed out of thin air, then where does my 100 Euro go? (I know... the 100 euro's are also printed out of thin air,,,.. but I am just wondering about how the entire process works. ) . Is 'somebody' just printing a local currency (back by nothing) and then getting local people to just give them euro's for paper they just printed with a value on it? Or am I missing something here??
@@BrandonshanesProductions It NEVER happens with ANY paper money. Inflation will always happen. Whoever is printing it can print all they want of it . What would be really cool is a paper currency with a small amount of actual REAL gold in it. The more gold inside the paper currency, the more it is worth. Money needs to be REAL in order to prevent inflation. This is what is so great about bitcoin. Your money will eventually get more and more valuable since it is limited to 21 million coins. (Unless of course it gets banned. That could be a different problem ) But that is the concept . Bitcoin 'should' become more valuable in years to come rather than less valuable like fiat paper money.
This is fantastic but the young chap from "A Currency for Paris" (5:40) lost me at "to fight climate change". Climate change is cyclical and caused predominantly by the sun. Negative effects on climate that are man-made are minimal. Why are we being conned?
What a fascinating extension of the excellent principle, to "think globally, and act locally"
They have a similar currency in Greece 🇬🇷. In one Greek town they call it the TEM.
So if I give 100 euro to the 'banker' , and they give me back 100 of their local currency that is printed out of thin air, then where does my 100 Euro go? (I know... the 100 euro's are also printed out of thin air,,,.. but I am just wondering about how the entire process works. ) . Is 'somebody' just printing a local currency (back by nothing) and then getting local people to just give them euro's for paper they just printed with a value on it? Or am I missing something here??
That €100 turns into 100 of the local currency. You have the same amount of money in a different form.
i hope venezuela can do the same
Interesting
Who controls the money printing? How do I know that there won't be an inflation?
Well you are just gonna have to trust that they dont be greedy and print more money
@@BrandonshanesProductions It NEVER happens with ANY paper money. Inflation will always happen. Whoever is printing it can print all they want of it . What would be really cool is a paper currency with a small amount of actual REAL gold in it. The more gold inside the paper currency, the more it is worth. Money needs to be REAL in order to prevent inflation. This is what is so great about bitcoin. Your money will eventually get more and more valuable since it is limited to 21 million coins. (Unless of course it gets banned. That could be a different problem ) But that is the concept . Bitcoin 'should' become more valuable in years to come rather than less valuable like fiat paper money.
What about Value-added Tax?
How can I buy this currency ? In Paris Pêches. Please anyone let me know?
Merci
The Maori could do this and not be jailed for fraud
This is fantastic but the young chap from "A Currency for Paris" (5:40) lost me at "to fight climate change". Climate change is cyclical and caused predominantly by the sun. Negative effects on climate that are man-made are minimal. Why are we being conned?