Q:

What is fiat money

Answer

In a fiat money system, money is not backed by a physical commodity (i.e.: gold). Instead, the only thing that gives the, MORE

Categorized In: Finance & Economy , Definitions

Source: History of Fiat Money | www.kwaves.com

3 days ago, 03:38pm

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More ChaCha Answers (3)

Fiat Money is money (as paper currency) not convertible into coin or specie of equivalent value. Thanks for asking ChaCha!

Mar 12 2009, 05:09am | Source: fiat money - Definition from the Merriam-Webster Online Dictionary | www.merriam-webster.com

Fiat money is money (as paper currency) not convertible into coin or specie of equivalent value. ChaCha!

Mar 09 2009, 09:31am | Source: fiat money - Definition from the Merriam-Webster Online Dictionary | www.merriam-webster.com

It is currency that a government has declared to be legal tender, but it has no intrinsic value and is not backed by reserves.

Dec 17 2008, 01:53pm | Source: Fiat Money | www.investopedia.com

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