A Fiat money is a money which is not backed by gold or some other commodity. Hence it's value can change over time (inflation). The US Dollar and EURO are current examples of fiat moneys.
The USD is fiat money so it has no value by gold/silver since the 1970s and is therefore infinite. There are 7.4 billion+ people in the world.
Nobody cares. Money is money you get it and spend it away its nothing but at the same time its everything.
salt was used for money
Thai money called Baht!
It is money that he believes is the secret to his happiness. He equates his unhappiness and his condition in life to be linked to money and the lack of it. Money seems to be the underlying force to Walter's life. He is unable to see anything past or beyond it. When Lin
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
"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."
True or false does fiat money have no inherent worth?
Fiat money is the money with no intrinsic value and its value is guaranteed by the monetary authority. Thus, Fiat money is with legal tender. People is bound to accept it.
Fiat money differs from commodity money because it is a more convenient form of money. It is easier to carry around paper money that it is to carry around gold or silver or other commodities. Fiat money is a promise to pay in the future while commodity money derives its value from the commodity of which it is made. Fiat money has value because the government declares that it has value. Fiat money only has value as a medium of exchange.
the government can issue and circulate the fiat money by selling the government bond to the central bank in exchange for the exactly same amount of fiat money.
fiat money has only a single use as a medium of exchange
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 only a single use as a medium of exchange.
4 types of money... Commodity money, Receipt money, Fractional money, Fiat money