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Money & Central Banking

/What Gives a Dollar Bill Its Value?

/What makes a dollar bill valuable

What makes a dollar bill valuable

What makes a dollar bill valuable

Throughout history, most currency, including the US dollar, was linked to valuable commodities and the amount of it in circulation depended on a government's gold or silver reserves. But after the US abolished this system in 1971, the dollar became what is known as fiat money, meaning not linked to any external resource but relying instead solely on government policy to decide how much currency to print.