All of the below is now redundant - just paste the URL from any of the major media sites into a post and it will be embedded!
-Chief
-Chief
[ NOTE: Don't auto-play YouTube videos. If you don't know what I'm talking about, good. If you do, you've been warned. Auto-Cards for Autoplay is our new campaign, meaning infractions and time off for anyone who does it. If you see an auto-playing video report the post and it will be fixed up. Thanks and have a nice day - Chief ]
Special thanks to danzan22 who helped with this.
First you need to copy the video code from the actual YouTube video URL:
Once you have done that paste the video code into the Edit Post box and put "youtube" tags around.
To do this you either highlight the video code and click this icon (top right of the post edit box):
Or type the youtube tags around the code.