fiat money

Noun

Meaning

money that the government declares to be legal tender although it cannot be converted into standard specie

Synonyms

Hypernyms

Examples

Bernholz, 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

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