102.6 Lesson - moneyImportantGovernement

Screen: moneyImportantGovernement

Headline: Money is also important to governments

Reward: 4

Text: Modern-day economies are organized by nation-states: USA, Japan, Switzerland, Brazil, Norway, China, etc.

Accordingly, in most every nation, the government holds the power to issue and control money.

In the United States, the Central Bank (known as the Federal Reserve, or “Fed”) can print, or create, more US Dollars at any time it wants.

The “Fed” does not need permission from the President, nor Congress, and certainly not from US citizens.

Imagine if you had the ability to print US Dollars anytime you wanted to -- what would you do??

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QUIZ

Question: Who can legally print US Dollars, anytime they wish?

Answer: The US Central Bank (The Federal Reserve)

Feedback: Correct. The US Government can print as much money as they want at any time.

Correct: true

Answer: Mr Burns from The Simpsons

Feedback: Incorrect. Although it did seem like he always had a lot of money.

Correct: false

Answer: A guy with a printing press in his basement

Feedback: No. Whilst some people do create fake dollar bills, it is definitely not legal!

Correct: false