Fiat Money

Fiat Money. Fiat money is a currency that lacks intrinsic value and is established as a legal tender by government regulation. Fiat money is currency that a government has declared to be legal tender , but it is not backed by a physical commodity.

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Fiat money is a type of currency which derives its value through government decree and the public's trust in it. The term is, however, usually reserved for legal-tender paper money or coins that have face values far exceeding their commodity values and are not redeemable in gold or silver. That way, money can retain its value over time.

So in the case "fiat money," it's an order by the government. fiat money: [noun] money (such as paper currency) not convertible into coin or specie of equivalent value.

The worth gets generated from state solidity.

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That way, money can retain its value over time. Doing business with fiat money is just a fact of life. S. dollar, euro, pound and yen, are fiat money. "Fiat" means "an authoritative or arbitrary order.".