
What is Money?
Civics 101
00:00
Transition from Gold Backed to Fiat Currency and Its Implications
Exploring the historical shift from gold-backed notes to fiat currency, highlighting key events like the legal confiscation of gold and the suspension of the dollar's convertibility to gold. The chapter delves into the implications of fiat currency on inflation and emphasizes the subjective value of money in determining its worth.
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