Fiat money refers to a type of currency that holds value because a government declares it as legal tender, rather than being backed by a physical commodity like gold or silver. Most modern economies ...

Fiat money and commodity money represent two distinct forms of currency, each defined by what gives it value. Fiat money is government-issued currency that has no intrinsic value but holds purchasing ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Somer G. Anderson is CPA, doctor of ...

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