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
du88global
Answers: 0
Views: 10
Rating: 0
Giúp việc bTaskee
Answers: 0
Views: 8
Rating: 0
bom88online
Answers: 0
Views: 11
Rating: 0
uuddgamecom
Answers: 0
Views: 9
Rating: 0
Keobongdacom
Answers: 0
Views: 11
Rating: 0
Trang chủ Gem88
Answers: 0
Views: 9
Rating: 0
Trang chủ Debet
Answers: 0
Views: 10
Rating: 0
sms808queen2
> More questions...
Answers: 0
Views: 10
Rating: 0