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Fiat money |
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Fiat money Nonconvertible paper moneyy. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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The negaive view on Euro-US Dollar could come under pressure if EM central banks decide to sell down their existing stock of fiat currency assets for gold. 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 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. |
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