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Fiat Money
(redirected from Fiat currency)

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Fiat money
Nonconvertible paper money.
Fiat Money
Money that is not backed by anything other than a government trust. Fiat money has no intrinsic value; it only has value at all because all participants in an economy agree to trust the government issuing the currency. All modern money is fiat money. While deflation is possible for fiat money, it is much more susceptible to inflation.
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This is because confidence in a fiat currency could fall if the gold reserves 'backing' that currency were reduced, especially during a period when confidence was already in a fragile state for other reasons.
Why changes in gold production don't matter by Steven Saville / Stockhouse
[ILLUSTRATION OMITTED] Flawed Logic The envisioned global central bank would operate along precisely the same lines as the Federal Reserve or any other modern national central bank: It would issue fiat currency (money not backed by a precious commodity such as gold), manipulate interest rates, and (at least in theory) "control inflation.
The diminishing dollar: the price of gold in U.S. dollars is jumping, ... by Scaliger, Charles / The New American
But why jump from one fiat currency into a basket of four fiat currencies (the dollar, yen, euro and British pound)?
Commodities spur recovery by Gulf News (United Arab Emirates)
 
 
 
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