Fiat money
Fiat money has value because the government declares that it has value.
Fiat money has only a single use as a medium of exchange.
Fiat money has only a single use as a medium of exchange.
Fiat money has value bc the gov. declares that it has value.
Fiat 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 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.
Fiat money has value because the government declares that it has value.
Fiat money has only a single use as a medium of exchange.
Fiat money has only a single use as a medium of exchange.
Fiat money has value bc the gov. declares that it has value.
fiat money and digital money
"Soft" or Fiat money is opposed by most Libertarians and some Republicans such as Ron Paul.
fiat money has only a single use as a medium of exchange
Fiat money is, of course, "fake" money. It is printed on paper, and secured by no real collateral. Commodity money is the opposite. It is still printed on paper, but is usually secured by collateral of some kind (usually gold ie: the gold standard). Most fiat money is actually secured by the issuing government's ability to keep its currency stable. This is how America operates it's currency. It keeps its value based solely on the American government's ability to not screw it up. It allows for much easier manipulation of the currency, but can be risky during economic turmoil (like right now). Commodity money is generally used by nations who are unable to keep a stable currency, so the value of their currency is tied to a commodity (usually gold). This is usually done by growing economies, nations under social distress, or those simply wishing to avoid the hassle of having to deal with fiat money. Theoretically, unlike fiat money, commodity money can never be worth zero, so it carries with it less risk than fiat money, which can inflate to the point of no value. This has happened several times where governments printed unbacked currency, notably the Weimar Republic (Germany) in 1923 and the government of Zimbabwe in 2008 and 2009.
It doesn't exactly exist today but it is true that the nations wealthist people control most of our wealth. It doesn't exactly exist today but it is true that the nations wealthist people control most of our wealth.