Video: What gives money its value?

In this video, provided by TED-Ed, you learn about how money was linked to gold and then became so-called “fiat money”. You also find out about the roles of reserve banks, such as the FED in the USA and the ECB in the European Union. Finally, the video describes to you the risks of inflation and deflation. Which one is worse?

Source: Get the full knowledge from TED-Ed

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