The Federal Reserve: How It Affects Your Money
Have you ever wondered how we got to the point we are at now? Does it ever cross your mind why cash has a monetary value? It certainly has with me.
It’s a very complicated thing, but basically your money, your savings, what is in your bank account is not backed 1 : 1 in gold as it used to be. We now have a system where for every dollar, only a small percentage of it is actually backed by gold. In other words, you would get 20 cents worth of gold for your paper dollar.
Now I am not for one second going to pretend that I know anything about the finer intricacies of this. So if you are interested in what makes a dollar worth a dollar and how the Federal reserve affects you, check out this video (hosted by Google Video) that takes you through from the very beginning.
