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fiat money

paper currency made legal tender by a fiat of the government, but not based on or convertible into coin.
Origin of fiat money
1870-75, Americanism Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2015.
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Examples from the web for fiat money
  • It favors fiat money in one place and good money in another.
  • Maybe this will help make the danger of fiat money clear.
  • Consider what fiat money, backed by no gold standard or collateral of any kind, really means.
  • Similarly, the solution is not printing fiat money that would merely reduce its purchasing power and dilutes its effectiveness.
  • Hyperinflation is people has no doubt that fiat money is worthless and goods are priceless.
  • The real economy may also need a firewall against fiat money.
  • fiat money, precious metals, and gems provide no nourishment nor shelter.
  • The conclusion that deflation is always reversible under a fiat money system follows from basic economic reasoning.
  • Dangerous protectionist measures frequently are implemented to compensate for the dislocations caused by fiat money.
  • And history has shown that fiat money never does well.
British Dictionary definitions for fiat money

fiat money

(mainly US) money declared by a government to be legal tender though it is not convertible into standard specie
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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