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    "segs": [ {
      "utf8": "This is the gold price since the 1970s. And that’s \ntotal money supplied by the US Federal Reserve."
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  }, {
    "tStartMs": 7520,
    "dDurationMs": 4080,
    "segs": [ {
      "utf8": "Here we have new home prices and money supply"
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  }, {
    "tStartMs": 11600,
    "dDurationMs": 6720,
    "segs": [ {
      "utf8": "That's the S\u0026P 500, which tracks the shares \nof top American businesses, and money supply."
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  }, {
    "tStartMs": 18320,
    "dDurationMs": 5280,
    "segs": [ {
      "utf8": "and finally the bitcoin price, here \non a log-scale, and - money supply."
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  }, {
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    "dDurationMs": 6480,
    "segs": [ {
      "utf8": "If gold, real estate, stocks, and cryptocurrencies \nall go up with the total cash in circulation,  "
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    "dDurationMs": 6000,
    "segs": [ {
      "utf8": "the value of each dollar must go \ndown—which raises some crucial questions."
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    "segs": [ {
      "utf8": "Why is money losing its value? Who creates it? Why  "
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    "tStartMs": 39840,
    "dDurationMs": 8080,
    "segs": [ {
      "utf8": "do we keep printing more? And who are \nthe winners and losers of this system?"
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    "tStartMs": 47920,
    "dDurationMs": 1760,
    "segs": [ {
      "utf8": "The moment you save money"
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    "segs": [ {
      "utf8": "It starts losing value. This happens because"
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    "dDurationMs": 3920,
    "segs": [ {
      "utf8": "bankers and government officials \nkeep printing new money."
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    "dDurationMs": 8160,
    "segs": [ {
      "utf8": "And so the total US dollar supply increased \nfrom around 1.4 trillion in 1975 to about 129  "
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    "dDurationMs": 6960,
    "segs": [ {
      "utf8": "trillion by the end of 2024. And with all the \nnew money, each individual bill lost value. "
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    "segs": [ {
      "utf8": "To put this in perspective:"
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    "segs": [ {
      "utf8": "Suppose your grandparents had—very generously—put  "
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    "dDurationMs": 4640,
    "segs": [ {
      "utf8": "10,000 dollars into a piggy \nbank for you back in 1975"
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    "dDurationMs": 5120,
    "segs": [ {
      "utf8": "It’d still be $10,000 today, \nand would buy you a tiny car."
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    "segs": [ {
      "utf8": "If they had exchanged that same amount for gold,"
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    "segs": [ {
      "utf8": "It would be worth $200,000 today — \nand get you a very fancy sports car."
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    "segs": [ {
      "utf8": "Invested in a fund holding shares \nin the top 500 US public companies,"
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    "dDurationMs": 6880,
    "segs": [ {
      "utf8": "It would have grown to $2.8 million—you could \nown lots of cars and a mansion for that!"
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    "segs": [ {
      "utf8": "So, how exactly is money created? There are \ntwo major forces: bankers and bureaucrats."
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    "dDurationMs": 3440,
    "segs": [ {
      "utf8": "Bankers create new money \nwhenever they take out a loan."
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    "dDurationMs": 3360,
    "segs": [ {
      "utf8": "After they approve a credit \nthey literally just type the  "
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  }, {
    "tStartMs": 126160,
    "dDurationMs": 3680,
    "segs": [ {
      "utf8": "newly created money into your account—wohoo."
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    "segs": [ {
      "utf8": "The only requirement: banks must hold \nabout 10% of all the new money they create—"
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    "segs": [ {
      "utf8": "And when you repay your loan,"
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    "tStartMs": 137840,
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    "segs": [ {
      "utf8": "The money evaporates again."
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    "dDurationMs": 5680,
    "segs": [ {
      "utf8": "Government officials like to spend \nmore than they actually have."
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    "segs": [ {
      "utf8": "And so they tend to borrow new money from central \nbanks, fund managers, or foreign investors."
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    "segs": [ {
      "utf8": "If such a deal happens with the central bank,"
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    "segs": [ {
      "utf8": "It just prints new money."
    } ]
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    "tStartMs": 157840,
    "dDurationMs": 5840,
    "segs": [ {
      "utf8": "In 2020, the US Federal Reserve created \nclose to $4 trillion this way—which meant  "
    } ]
  }, {
    "tStartMs": 163680,
    "dDurationMs": 5760,
    "segs": [ {
      "utf8": "that the total dollars in circulation \ngrew by about 26% in a single year."
    } ]
  }, {
    "tStartMs": 169440,
    "dDurationMs": 4320,
    "segs": [ {
      "utf8": "Bureaucrats then typically take this \nnew money, invest it in projects,  "
    } ]
  }, {
    "tStartMs": 173760,
    "dDurationMs": 3680,
    "segs": [ {
      "utf8": "or give it to particular people \nand special interest groups."
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  }, {
    "tStartMs": 177440,
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    "segs": [ {
      "utf8": "All this new money, so the theory goes,  "
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    "segs": [ {
      "utf8": "gets people spending and hence \ncreates jobs and economic growth."
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    "segs": [ {
      "utf8": "But there are not only winners."
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    "segs": [ {
      "utf8": "The first losers are those who \nhoard their cash, unaware that"
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    "dDurationMs": 4800,
    "segs": [ {
      "utf8": "all the new money inflates the price \nof housing, shares, and other assets."
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    "dDurationMs": 5520,
    "segs": [ {
      "utf8": "Second are those who have no access to buy \nother assets or efficient capital markets"
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    "segs": [ {
      "utf8": "and last are those who earn too little \nto invest in housing, gold, or stocks."
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    "segs": [ {
      "utf8": "This last group often faces a double squeeze:"
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    "segs": [ {
      "utf8": "They see rent, food and childcare \ncosts rise faster than their paychecks,"
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    "dDurationMs": 3200,
    "segs": [ {
      "utf8": "while wealth-building assets stay out of reach."
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    "dDurationMs": 3840,
    "segs": [ {
      "utf8": "But what do you think? How could \nwe solve this problem? Should we  "
    } ]
  }, {
    "tStartMs": 225520,
    "dDurationMs": 10960,
    "segs": [ {
      "utf8": "just stop printing new money? Share \nyour thoughts in the comments below."
    } ]
  }, {
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    "dDurationMs": 2400,
    "segs": [ {
      "utf8": "If you found this helpful, check \nout our other videos and subscribe. "
    } ]
  }, {
    "tStartMs": 238880,
    "dDurationMs": 2640,
    "segs": [ {
      "utf8": "If you want to support our work, \njoin us on patreon.com/sprouts. "
    } ]
  }, {
    "tStartMs": 241520,
    "dDurationMs": 9440,
    "segs": [ {
      "utf8": "For more information and additional \ncontents, visit sproutsschools.com"
    } ]
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