Money which has no intrinsic value and cannot be redeemed for specie or any commodity, but is made legal tender through government decree. All modern paper currencies are fiat money, as are most modern coins. The value of fiat money depends on the strength of the issuing country's economy. Inflation results when a government issues too much fiat money.
Related information about fiat money:
- Fiat money - Wikipedia, the free encyclopedia
Fiat money is money that derives its value from government regulation or law. The term fiat currency is also used when the fiat money is used as the main ...
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Currency that a government has declared to be legal tender, despite the fact that it has no intrinsic value and is not backed by reserves. Historically, most ...
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Fiat Money Fiat Currency Paper Money Electronic Money Richard Nixon gold silver Honest Money.
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Sep 12, 2003 ... Mr. Greenspan once understood that a fiat money system represents nothing more than a sinister and evil form of hidden taxation. When the ...