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What is FIAT?

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Legal tender for a specific region or jurisdictions. It is in many cases the only form of payment accepted for currency. The United States Dollar is an example of FIAT.

  • Any money declared by a government to be legal tender
  • State-issued money which is neither convertible by law to any other thing, nor fixed in value in terms of any objective standard
  • Intrinsically valueless money used as money because of government decree

https://en.wikipedia.org/wiki/Fiat_money

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