What Gives A Dollar Bill Its Value

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What Gives A Dollar Bill Its Value

Back in the day, the dollar was connected to silver and gold. The older dollar bills even say ‘silver certificate.’ But that all changed during the Nixon administration. Now all money is fiat, meaning it has value based only on federal law. TED-Ed explains the complex story behind what gives a paper dollar bill actual value.  

 

Read more: http://www.viralviralvideos.com/2014/06/24/what-gives-a-dollar-bill-its-value/

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