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Fiat Money Explained
FIAT MONEY
Fiat money is a type of currency that is not backed by a precious metal, such as gold or silver, or backed by any other tangible asset or commodity.
Fiat currency is typically designated by the issuing government to be legal tender, and is authorized by government regulation.
NO INTRINSIC VALUE
Fiat money generally does not have intrinsic value and does not have use value. It has value only because the individuals who use it as a unit of account – or, in the case of currency, a medium of exchange – agree on its value.
They trust that it will be accepted by merchants and other people as a means of payment for liabilities. issues.
MANIPULATION
Since there is no limit to the amount of fiat money in circulation, it is subject to constant manipulation by the central bank and the
Fiat money is a type of currency that is not backed by a precious metal, such as gold or silver, or backed by any other tangible asset or commodity.
Fiat currency is typically designated by the issuing government to be legal tender, and is authorized by government regulation.
NO INTRINSIC VALUE
Fiat money generally does not have intrinsic value and does not have use value. It has value only because the individuals who use it as a unit of account – or, in the case of currency, a medium of exchange – agree on its value.
They trust that it will be accepted by merchants and other people as a means of payment for liabilities. issues.
MANIPULATION
Since there is no limit to the amount of fiat money in circulation, it is subject to constant manipulation by the central bank and the
8/26/25
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