The history of money
Every fiat currency in history has eventually returned to its intrinsic value — zero. These videos trace the arc from gold and silver coinage through the gold standard, Bretton Woods, and the 1971 break that made every currency on earth purely fiat.
New videos are being curated for this topic
Our education desk reviews and scores every video before it appears here. Browse the full library in the meantime.
Common questions
What was the gold standard?
A monetary system where currency was directly convertible into a fixed weight of gold. The U.S. left domestic convertibility in 1933 and ended foreign convertibility in 1971, completing the transition to pure fiat currency.
Has any fiat currency survived long-term?
No purely fiat currency has maintained its value over centuries. The average lifespan studied by monetary historians is measured in decades, and all eventually lose most or all purchasing power through debasement or replacement.
Keep learning
History's lesson, applied to your savings
Talk with a specialist about what 5,000 years of monetary history means today. Call (800) 200-9553.