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fiat money

   Also found in: Financial, Encyclopedia, Wikipedia 0.23 sec.
fiat money
n.
Legal tender, especially paper currency, authorized by a government but not based on or convertible into gold or silver.
ThesaurusLegend:  Synonyms Related Words Antonyms
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
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? Mentioned in ? References in periodicals archive
 
Despite the fact that his own work detailed the pernicious influence a government can wield through the manipulation of fiat money (money not backed by precious metals), he often discussed the ways in which the Federal Reserve should handle monetary policy.
Milton Friedman, RIP by The New American
Consequently, the nation no longer has commodity money (redeemable in gold or silver) but fiat money (redeemable in nothing).
The evolution of money: the rules of money state that for money to ... by McManus, John F. / The New American
Sounds like an accurate critique of the fiat money system inflicted on our nation with the 1913 creation of the Federal Reserve System, doesn't it?
Economic fix: print more money?! (Insider Report) by The New American
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