TED-Ed: What gives a dollar bill its value? - Doug Levinson

The video explains the value of a $100 bill, highlighting its status as legal tender issued by the government. It discusses the transition from commodity-backed currency to fiat money, managed by the Federal Reserve, which is independent of government branches. The video explores inflation and deflation, their effects on the economy, and the Fed's role in maintaining a balance to encourage economic growth. The Fed uses economic data to regulate currency circulation, aiming for a stable economy with controlled inflation.

What new insight or understanding did you gain from this video?