One Currency to Rule them all - the Latin Monetary Union
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- čas přidán 7. 08. 2021
- Would you have thought we had something similiar to the Euro in Europe before? Did you ever heard of the Latin Monetary Union?
No? So what is it - let's find out!
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This is the best explanation of the LMU I’ve heard or read. I enjoy collecting the coins but find most other videos just rattle off some of the countries that issued compliant coins.
Thank you Cameron, I appreciate it a lot!
Had the chance to write a paper about it in university, where this video is mainly based on (minus the theoretical theories stuff) - was really fun diving into it and taking you on the journey as well :-)
Paper money is STILL the threat to the system
Interesting stuff, prepare for Vic 3 fandom to eventually discover this. I’d love to hear more about this in relation to the long depression and if they ever sent a invitation for America to join when it was struggling over gold vs silver
Hi, thanks for your comment! From my understanding the decline of the silver was a key factor to the long depression, which of course was also a stress point for the LMU, as especially france wanted to have the bi-metalism which showed to be problematic and led to the de-facto gold standard (even though that was originally not favourised by france). So the politic had to catch up with the real economy.
Furthermore, it was rather the UK than the US that France was interested in, even had negotiations upfront with them if they're willing to join. But as the LMU was more of a power vehicle of france they demanded that the UK would align more with their coins to the Francs which the UK (of course) refused.
I think what is the most interesting of these times is, that things often where tried for the first time and there is so much to learn from it, as of course mistakes were made as they didn't knew better.
Which nations do you usually play in vic?
@@historyeconomics7774 none, though I do have a mod in mind for the game that hasn’t come out yet. (France intervenes in civil war which dominos into an alternate Luxembourg and Hohenzollern crisis. I’m pretty sure communards would not be as pro free trade as the empire)
@@samuraitabernac3050 Interesting idea, the communards are an interesting chapter in france history. I agree with you that they would also not be as pro free trade. Also keep in mind, that socialists were at the beginning against imigration. Good luck with your mod!
@@historyeconomics7774 that’s actually something I’d like to know more about, I still haven’t gotten around to reading about blanqui’s misogyny
The reichsmark in 1940 was also planning to be the one currency in Europe
in one way or the other^^ 😀