fiat money

(redirected from Fiat currency)
Also found in: Thesaurus, Legal, Financial, Encyclopedia, Wikipedia.
Related to Fiat currency: Bitcoin

fiat money

n.
Legal tender, especially paper currency, authorized by a government but not based on or convertible into gold or silver.

fiat money

n
(Banking & Finance) chiefly US money declared by a government to be legal tender though it is not convertible into standard specie

fi′at mon`ey


n.
paper currency made legal tender by a fiat of the government, but not based on or convertible into coin.
[1870–75]
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.fiat money - money that the government declares to be legal tender although it cannot be converted into standard specie
folding money, paper currency, paper money - currency issued by a government or central bank and consisting of printed paper that can circulate as a substitute for specie
Translations

fiat money

nPapiergeld ntohne Deckung
References in periodicals archive ?
In a country with its own fiat currency, like Canada, it is important to recognize that fiscal policy can be counteracted by monetary policy.
Gemini has begun onboarding customers and will officiallyopen for trading onThursday, October 8th at 9:30am , at which point customers will be able to buy and sell bitcoin for fiat currency.
Gemini has begun onboarding customers and will officiallyopen for trading onThursday October 8th at 9:30am , at which point customers will be able to buy and sell bitcoin for fiat currency.
A common fiat currency has the benefit of reducing transaction costs but also the downside of reducing the possibility of "exit.
Ripple is offering to work with international banks to rewire the international money transfer business through the fast exchange of its digital currency tokens in exchange for fiat currency, enabling instantaneous funds transfers.
Fiat currency--a clear fraud upon its unwitting or unwilling victims--exists because the state that issues the fiat currency commands acceptance of its central bank's worthless paper as payment of debts, operating over the barrel of a gun rather than by providing goods and services that willing customers choose to buy (such as banking in this case).
As a further important constraint on the colonies' monetary policies, Parliament prohibited New England from making any fiat currency legal tender for private transactions.
At one point, he deems Bitcoin to be "bad" money on par with state fiat currency because it has "no commodity value at all.
As in Friedrich Hayek's ([1976] 2007) currency competition, this reform allows banks to issue their own fiat currency.
The full faith and credit of fiat currency issuers is being
Bitcoins are digital representations of value, a fiat currency based on cryptography--the use of encryption to store and transfer value securely.
It is this link that provides essential discipline needed to rein in the aspirations of politicians to spend money, even money the government doesn't have," he told THE NEW AMERICAN, adding that the bankers pushing for a world fiat currency "will do everything they can to continue this special privilege that they have assumed for themselves.