TeachMeFinance.com - explain Fiat money
Fiat money -- Fiat money is paper money issued by a government
against which neither gold nor silver is held in the
treasury. It is money by fiat (decree) of the government.
United States notes (greenbacks) were fiat money, but they
are now redeemed in gold by the Treasury.
About the author
Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.