Noun
money that the government declares to be legal tender although it cannot be converted into standard specie
Source: WordNetBernholz, Peter 2003, chapter 5.2 and Table 5.1 Moreover, a necessary condition for hyperinflation has been the existence of fiat money not convertible at a fixed parity into gold or silver. Source: Internet
Although the mechanism differs from country to country, most use a similar mechanism based on a central bank's ability to create as much fiat money as required. Source: Internet
From this point, the international monetary system was made of pure fiat money. Source: Internet
“I don’t see much future for fiat money 10 years from now. Source: Internet
In situations where there is commodity money, the coin retains its value if it is melted and physically altered, while in a fiat money it does not. Source: Internet
Most indigenous forms of money (wampum, shells, tally sticks and such) and the modern fiat money are only a "symbolic" storage of value and not a real storage of value like commodity money. Source: Internet