fiat money


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Related to fiat money: gold standard, Commodity money

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 ?
Fiat money or legal tender on the other hand is highly centralised, mostly cash-based and issued into the economy according to whatever monetary policy the central bank adopts.In terms of decentralisation, cryptocurrencies have a global record-keeping system that is visible and distributed across the market participants in a peer-to-peer fashion.
A stablecoin can be pegged to a cryptocurrency, fiat money, or to exchange-traded commodities (such as precious metals or industrial metals).
Libra, we are told, will be pegged to a basket of currencies (fiat money issued by governments), and convertible on demand and at any cost.
Customers can also take advantage of Coinbase's service of converting fiat money, like a dollar or a euro, into any digital currency.
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Under the said issuance, VC exchanges or businesses engaged in the exchange of VCs for equivalent fiat money in the Philippines are required to register with the BSP as remittance and transfer companies.
Commodity money is distinguished from fiat money because it has an intrinsic value separate from its value as money.
Some thoughtful people regret, as Cain does, the end of the gold standard, but they understand, as he does not, that fiat money is here to stay.
Real, physical gold ownership is being digitized with ownership securely recorded on blockchain technology, so that physical gold and silver can be spent just as easily as fiat money, in the same way that banknotes used to be IOUs for gold.
a fiat money world is beneficial, even if it does not completely
Attempting to break down the established networks of fiat money markets into the aforementioned categories helps to simplify an intricate multiverse of currencies, assets, and other financial instruments.
Just as the gold standard fostered an era of unprecedented economic progress, so fiat money helped turn many nations' economies into "centrally planned and government-directed failures" (51).