Fiat currency
A fiat currency is a currency that is not backed by a physical commodity, such as gold or silver. Instead, it is backed by the government that issued it. Fiat currencies are legal tender, which means that they must be…
A fiat currency is a currency that is not backed by a physical commodity, such as gold or silver. Instead, it is backed by the government that issued it. Fiat currencies are legal tender, which means that they must be…