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. Digital money
Fiat means in Latin let it be done. Fiat money is usu. Printed into existence without the backing of any physical metal or a strong manufacturing base. Most currencies in the world today are "let it be done" currencies.
"Fiat money, is money that is not backed by something with vaule. US money is backed by commodites like silver and gold. Fiat money is money declared by a government to be legal, eventhough it has no value."
Fiat money is the term used to describe money that has it's value determined by the law or government. This means that most currencies are fiat money as most currencies are government issued.
4 types of money... Commodity money, Receipt money, Fractional money, Fiat money
. Digital money
. Digital money
. Digital money
Fiat money has value because the government declares that it has value.
Fiat money
Fiat money
Fiat money has value bc the gov. declares that it has value.
Fiat means in Latin let it be done. Fiat money is usu. Printed into existence without the backing of any physical metal or a strong manufacturing base. Most currencies in the world today are "let it be done" currencies.
fiat money has only a single use as a medium of exchange
the difference between representative money and fiat money is that?A)representative money can be converted into silveror gold;fiat money cannot.B)representative money is worth more per dollar than fiat money; which is actually worthless.C)fiat money is counted in coins; representative money is counted in paper.D)fiat money is mre traditional than representative money,which is a newer concept. :)
Fiat money
the fiat money is money declared by a government. the fundamental flaw in the fiat money system can be summed up as human nature. the main reason that the masses ignore the inevitable failure of fiat money system