# Calculating Prices in different Currencies using Exchange Rates

If you know the exchange rates of two currencies, you can calculate the prices of goods in one country in another country’s currency. This lesson walks you through several problems in which calculations of different exchange rates allow us to determine how much goods and services in one currency will cost in terms of another.
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Before a nation can have a sound economy, it must first have a sound monetary system. Unfortunately, in today’s world, there is not a single government that has a commodity based currency; every world currency qualifies as a fiat system. In the history of the world, every fiat currency eventually has failed. In this video, I talk about why that is the case, and how we can see this playing itself out right now in the current fiat systems.
Dollar purchasing power lost since 1913: 92%
Dollar purchasing power lost since 1971: 83% 10 oz. silver bar at spot from SD Bullion: https://sdbullion.com/sf

## 14 thoughts on “Calculating Prices in different Currencies using Exchange Rates”

1. Нелли Крылова

Trying to find a method to earn through Fx. Google and search "Forex Profiter V3.1".

3:48 Romans when out of their way to remove intrinsic value from their bronze coins. They knew that if the face value of the coin was below the melt, the coins would disappear from circulation and cause problem in the economy. They quenched the coins in vinegar to make them brittle if ever melted down. The unit chosen for money can have only one market value, being transferable credit.

3:34 The problem with our currency isn't that it's fiat. Tally sticks were fiat and they worked fine. It's the debt-based aspect of today's currencies that cause such harm to the economy.

4. Dan Skiver

Fiat currency is a component of the bigger scam perpetrated against the willing producers. The bigger game I like to call fiat capitalism, which mistakenly gets conflated with free enterprise. Fiat capitalism is like a monopoly game played over the free enterprise system which focuses wealth to a very few nonproductive elites. Monopoly the game always ends with a single winner were as fiat capitalism ends up with a winning 1 percent. In the end it's a game between the willing and the manipulators, and the latter are assured winners as we seen in the 2008 bailouts.

5. Gregory Alexander

1) If a currency needs intrinsic value to work, then wouldn't Bit Coin be doomed for failure just as much as all of the other fiat currencies?
2) How stable is intrinsic value, really? If there were an oil backed dollar and the world collectively stopped using oil, wouldn't the value of that currency fall?

6. Brian Bugno

What we need is a method to exchange gold and silver with bitcoin quickly and easily. Gold and silver are the store of value, bitcoin is the means of transaction. Bitcoin should also have a much more stable price once we do away with fiat currencies so it can serve that purpose well.

7. Glenn Nichols

I agree with this article ,that fiat money fails every time. Please excuse my spelling and typing as been on morphine based medications since 1999 when a drunk man driving let go of his steering wheel trying to light a smoke and that was third time my spine was next to destroyed and I got back up an went back to work until 2007 breaking it 5th time and while working.I do glass etchings using variable speed xremel with diamond bits now days for entertainment and sell .

8. Trydar Durakhar

they fail because those in charge of them try to squeeze blood out of stone and invariably mismanage them so badly it all falls apart.

9. Ngazediwa Hotep

A few months before Libya been invaded, Kadaffi wanted to issue a currency backed by gold. He actually discuss it on African or Arab conference. He had already the plans, he was gathering support.

10. B B

I think we will never see a silver/gold backed currencie. If 1 country would pull it of, they would probably only accept gold/silver backed currencies from other country when exporting goods and Services. When those countries dont have gold or silver or dont want to pay with it, they wil not do business with that country. The other way around when importing goods and Services everybody wants their gold backed money (good money drives out bad money). I think it must be Global to work, but then there is to little precious metal to have a good working system. Isnt there only about 1 ounce of silver for everyone on earth when equaly devided?

11. ed moll

ART 1 SECTION 10 OF THE CONSTITUTION ONLY GOLD AND SILVER COIN CAN BE MADE LEGAL TENDER.  COUNTERFIAT IS TREASON. = SILVER AND GOLD ARE THE MONEY OF FREE PEOPLE . PAPER IS THE MONEY OF SLAVES.