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Fiat Money

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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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For one thing they could buy up gold reserves cheaply using their fiat money.
Shorting the US Dollar by Aurelia Masterson / Politics community
And without that, our economy, which is addicted to growing by illusionary fiat money magic, rather than by saving, will have a hard time growing any time soon.
Economy headed for double-dip recession by Jay Taylor, goldinvestor.com / Stockhouse
There will thus be penalties for countries that dilute their fiat money too much which is all of them.
Going Off the US Dollar by Aurelia Masterson / Banking, finance and accounting community
 
 
 
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