Unbacked government issued money. The word “fiat” literally means “a decree”. In order words, the government told you this is money, so it’s money.
Word missing from the glossary or definition needs improvement? Let us know!
Unbacked government issued money. The word “fiat” literally means “a decree”. In order words, the government told you this is money, so it’s money.
Word missing from the glossary or definition needs improvement? Let us know!