Explore the debate surrounding centralized and decentralized currency in this 18-minute video from the Macroeconomics Made Clear series. Delve into the advantages and drawbacks of cryptocurrency, including its anonymity and potential for tax avoidance. Examine the role of central banks like the Federal Reserve in establishing national currency and increasing transparency, while also considering their potential to cause instability and favor private interests. Gain insights into the history of currency, the functions of the Federal Reserve, methods for changing money supply, and the impact of economic turmoil on the financial system. Conclude by examining recent changes to the currency system, providing a comprehensive overview of the complex issues surrounding monetary policy and financial institutions.