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- Dictionaryfiat money
noun
- 1. inconvertible paper money made legal tender by a government decree.
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noun
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Fiat money is a type of currency that is not backed by any commodity such as gold or silver, and typically declared by a decree from the government to be legal tender. Throughout history, fiat money was sometimes issued by local banks and other institutions. In modern times, fiat money is generally established by government regulation. Fiat generally money does not have intrinsic value and does no... Wikipedia