Fiat MoneyorFiat Currencyis any money that the government declares as legal tender. Also, this type of money is not backed by a physical commodity such as gold or silver. In other words, fiat money hasno intrinsic value.Market forcesdetermine the value of fiat money. In economics, the term...
The term "fiat" is a Latin word that's often translated as "it shall be" or "let it be done." Fiat currencies only have value because the government maintains that value. There's no utility to fiat money in itself. Governments would mint coins out of a valuable physical commodity such...
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In economics, broad money is a measure of the amount of money, or money supply, in a national economy including both highly liquid "narrow money" and less liquid forms. The European Central Bank, the OECD and the Bank of England all have their own different definitions of broad money. Wh...
What Is a Joint Account? Related Articles Discussion Comments ByGlasshouse— On Sep 01, 2010 @ genevaMech- You may have heard talk about our current system of fiat money being on the verge of collapse, but you have to take this information with a grain of salt and a bit of critical thi...
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Economics Indrabati Lahiri Financial writer and editor Indrabati has over four years of experience as a financial reporter and editor covering business, commodities, and macroeconomics. While contributing to Techopedia, she is currently working as a business reporter at Euronews. Her articles can be ...