Noun
fiat currency (countable and uncountable, plural fiat currencies)
(economics) Money that is not backed by any commodity, but has value because people agree on its value, and often is established as legal tender by government fiat.
In the long run, the euro as a fiat currency may very well fail like the U. S. dollar. (2006, before Greece) Peter Schiff
Our fiat currency is under increasing stress with our large and growing trade deficits. We have a federal deficit that is calculated in the trillions when we take into account the net present value of the future Social Security and Medicaid obligations we are creating today. George Noory