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Fiat Money, explained
2:22
YouTubepaddy hirsch
Fiat Money, explained
Your dollar isn't worth the paper it's written on. Literally. There's nothing backing your dollars, euros or yen, nothing but the promise that the note your holding will be able to buy the same amount of goods tomorrow that it buys today. That's fiat money, and here's an explainer.
359.7K viewsDec 8, 2013
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