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Vanishing Wealth

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First published at 17:14 UTC on December 28th, 2020.

#spain
#euro
#fiatmoney

Surfperch

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The Spanish Peseta was demonetized a few days after this video went up, all the wealth, stored labor, in the unredeemed notes and coins simply ceased to exist when the Spanish Central Bank so decreed, forcing Spaniards to have no choice but to use the Euro. In this video I'll take a look into what this reflects about fiat currency as a whole and the various forms the Peseta has taken over the years.

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