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谁赋予钞票价值?

What gives a dollar bill its value? - Doug Levinson

If you tried to pay for something with a piece of paper,
如果试着用一张纸付款
you might run into some trouble.
你也许会遇到一些麻烦
Unless, of course, the piece of paper was a hundred dollar bill.
当然 除非那张纸是一百美元
But what is it that makes that bill so much more interesting and valuable
但是是什么让这张钞票比其他的纸
than other pieces of paper?
更有趣更有价值呢?
After all, there’s not much you can do with it.
毕竟 钞票能做的事情没有那么多
You can’t eat it.
你不能吃它
You can’t build things with it.
不能用它搭建东西
And burning it is actually illegal.
且烧它其实是违法的
So what’s the big deal?
所以到底钞票有何神奇之处?
Of course, you probably know the answer.
当然 你也许知道答案
A hundred dollar bill is printed by the government
面值一百元的美钞由政府印刷
and designated as official currency,
被指定为官方货币
while other pieces of paper are not.
而其他的纸不是
But that’s just what makes them legal.
但这仅仅是钞票合法的原因
What makes a hundred dollar bill valuable, on the other hand,
另一方面 百元美钞的价值
is how many or few of them are around.
取决于周围美钞存在的数量
Throughout history, most currency, including the US dollar,
纵观历史 大多数货币 包括美元
was linked to valuable commodities
都与有价值的商品相关联
and the amount of it in circulation
市场中流通的货币数量
depended on a government’s gold or silver reserves.
则取决于政府的黄金或白银储备
But after the US abolished this system in 1971,
但在1971年美国废除这一体系后
the dollar became what is known as fiat money,
美元成为了法定货币
meaning not linked to any external resource
即美元不与任何外部资源挂钩
but relying instead solely on government policy
钞票印刷的数量
to decide how much currency to print.
完全取决于政府的政策
So which branch of our government sets this policy?
制定该政策的是政府的哪个机关呢?
The Executive, the Legislative, or the Judicial?
行政 立法 还是司法机关?
The surprising answer is: none of the above!
答案令人吃惊 以上皆不是
In fact, monetary policy is set by
事实上 货币政策是由
an independent Federal Reserve System, or the Fed,
一个独立的联邦储备系统制定的 又称为美联储
made up of 12 regional banks in major cities around the country.
它由全国主要城市的12家地区性银行组成
Its board of governors,
其理事会
which is appointed by the president and confirmed by the Senate,
由总统任命并经参议院批准
reports to Congress,
并向国会报告
and all the Fed’s profit goes into the US Treasury.
美联储所有的利润都交给美国财政部
But to keep the Fed from being influenced
但为了让美联储不被
by the day-to-day vicissitudes of politics,
日常政治的瞬息万变所影响
it is not under the direct control of any branch of government.
它不受政府任何机关的直接控制
Why doesn’t the Fed just decide to print infinite hundred dollar bills
美联储为何不直接印刷无限量的百元美钞
to make everyone happy and rich?
让每个人都快乐且富有呢?
Well, because then the bills wouldn’t be worth anything.
因为如此一来钞票就一文不值了
Think about the purpose of currency,
想想货币的目的
which is to be exchanged for goods and services.
它是商品与服务的交换工具
If the total amount of currency in circulation increases
如果流通中货币总量的增长速度
faster than the total value of goods and services in the economy,
快于经济市场中商品与服务的总价值
then each individual piece will be able to buy
那么每张钞票能购买的东西
This is called inflation.
这就是通货膨胀
On the other hand, if the money supply remains the same,
另一方面 如果货币供应量保持不变
while more goods and services are produced,
而更多的商品与服务被生产出来
each dollar’s value would increase
美元将会增值
in a process known as deflation.
该过程叫做通货紧缩
So which is worse?
那么哪种情况更糟糕呢?
Too much inflation means that
过多的通货膨胀意味着
the money in your wallet today will be worth less tomorrow,
明天钱包里的钱会比今天的更不值钱
making you want to spend it right away.
让你想马上把它花掉
While this would stimulate business, it would also encourage overconsumption,
尽管也许会刺激商业 但这也会鼓励过度消费
or hoarding commodities, like food and fuel,
或引发囤积日常用品的现象 如食物和燃料
raising their prices
使这些商品价格提高
and leading to consumer shortages and even more inflation.
导致商品缺货 甚至更严重的通货膨胀
But deflation would make people want to hold onto their money,
而通货紧缩会使人们想守住自己的钱
and a decrease in consumer spending
且消费者支出的减少
would reduce business profits,
会降低企业的利润
leading to more unemployment and a further decrease in spending,
导致失业率增加和支出的进一步减少
causing the economy to keep shrinking.
造成经济持续萎缩
So most economists believe that
因此大多数经济学家认为
while too much of either is dangerous,
尽管过度的通胀和通缩都很危险
a small, consistent amount of inflation is necessary to encourage economic growth.
持续小幅的通货膨胀是刺激经济增长的必要方式
The Fed uses vast amounts of economic data
美联储使用大量的经济数据
to determine how much currency should be in circulation,
来决定流通中的货币数量
including previous rates of inflation,
包括历史通货膨胀率
international trends, and the unemployment rate.
国际形势和失业率
Like in the story of Goldilocks,
就像《金发女孩》的故事一样
they need to get the numbers just right
为了刺激经济增长和保就业
in order to stimulate growth and keep people employed,
他们需要把数字调整到恰到好处
without letting inflation reach disruptive levels.
而不至于使通货膨胀达到破坏性水平
The Fed not only determines how much that paper in your wallet is worth
美联储不仅决定你钱包里那张纸的价值
but also your chances of getting or keeping the job where you earn it.
还决定你找到让你挣钱的工作或不被炒的几率

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视频概述

钞票在流通中的数量与钞票的价值有何关系?谁决定了钞票在流通中的数量?什么是通货膨胀?什么是通货紧缩?本视频将为您一一解答

听录译者

收集自网络

翻译译者

Germanotta

审核员

审核员MS

视频来源

https://www.youtube.com/watch?v=XNu5ppFZbHo

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