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Fiat money is currency that a government has declared to be legal tender, but it is not backed by a physical commodity. The value of fiat money.

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2 days ago Both fiat and representative money are backed by something. Without any backing, they would be completely worthless. Fiat money is backed.

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A fiat-money currency greatly loses its value should the issuing government or central bank either lose the ability to, or refuse to.

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Fiat currency is legal tender whose value is backed by the government that issued it. The U.S. dollar is fiat money, as are the euro and many.

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Fiat currencies have no intrinsic value or they aren't a claim to anything instead But paper money was usually backed by gold, In the IMF was formed and.

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The global monetary system is what's called a Fiat system in which money is a Legal tender means that the money is backed by the full faith and credit of the.

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Fiat money is an intrinsically worthless object, such as paper money, that is Second, paper money circulated, but this money was backed up by holdings of.

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As valid currency solely by virtue of a government declaration, fiat money is not backed by any commodity, such as gold, but only by the faith of the bearer.

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Fiat money or fiat currency is any money that the government declares as legal tender. Also, this type of money is not backed by a physical commodity such as.

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A fiat money is a type of currency that is declared legal tender by a government but has no intrinsic or fixed value and is not backed by any tangible asset, such.