FIATMONEY

Fiat money

Fiat money has been defined variously as: any money declared by a government to be legal tender, state-issued money which is neither convertible by law to any other thing, nor fixed in value in terms of any objective standard, money without intrinsic value.

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fiat money

Noun

  1. Money that is given legal value or made legal tender for money debts by government fiat.


The above text is a snippet from Wiktionary: fiat money
and as such is available under the Creative Commons Attribution/Share-Alike License.

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