rkidbakon2010@hotmai
1 Answer
FISH-O
Fiat money
Inconvertible paper money made legal tender by a government decree.
Definition of 'Fiat Money'
Currency that a government has declared to be legal tender, despite the fact that it has no intrinsic value and is not backed by reserves. Historically, most currencies were based on physical commodities such as gold or silver, but fiat money is based solely on faith.
Investopedia explains 'Fiat Money'
Most of the world's paper money is fiat money. Because fiat money is not linked to physical reserves, it risks becoming worthless due to hyperinflation. If people lose faith in a nation's paper currency, the money will no longer hold any value.
http://www.investopedia.com/terms/f/fiatmoney.asp
Thank you for choosing akaQA. Have a meaningful day!
| 12 years ago. Rating: 2 | |
Top contributors in Politics category
Unanswered Questions
blogtruyenofficial
Answers: 0
Views: 4
Rating: 0
89bet2net
Answers: 0
Views: 5
Rating: 0
Diseño exclusivo con visión local
Answers: 0
Views: 6
Rating: 0
7M
Answers: 0
Views: 6
Rating: 0
56dhomes
Answers: 0
Views: 5
Rating: 0
taixiukclub
Answers: 0
Views: 4
Rating: 0
bong88photos
Answers: 0
Views: 6
Rating: 0
88CLB
> More questions...
Answers: 0
Views: 5
Rating: 0