"Fiat money" refers to Paper money which not fully backed by gold or other tangible reserve instruments. The holder of fiat money is trusting the sovereign issuer.
Fiat money
"Fiat money" refers to Paper money which not fully backed by gold or other tangible reserve instruments. The holder of fiat money is trusting the sovereign issuer.
"Fiat money" refers to Paper money which not fully backed by gold or other tangible reserve instruments. The holder of fiat money is trusting the sovereign issuer.