fiat money

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  • noun

Words related to fiat money

money that the government declares to be legal tender although it cannot be converted into standard specie

References in periodicals archive ?
All fiat currency transferred to Gemini will be deposited in a New York State chartered bank, headquartered in midtown Manhattan, and eligible for Federal Deposit Insurance Corp.
However, in the case of currency competition, each privately issued fiat currency is its own unit of account.
John McManus, president of The John Birch Society, has a similar view of how to rectify the current situation without moving toward an international central bank to manage a global fiat currency.
He said the main causes of the current global crisis were fiat currency (printed without equivalent gold or any other reserves) and interest.
His logical examination of economic history, particularly the role of fiat currency within the system, and his ability to inform others about the effects of certain economic policy decisions is intellectually honest," said Andrea Bie, Ph.
By introducing fiat currency - digital cash - to the Bitcoin blockchain, Tether makes a significant contribution to a more connected Bitcoin ecosystem by adding Bitcoin benefits such as instant global transactions to traditional currency, and traditional currency benefits such as price stability to digital currency.
Also, you can't pay your bills with bitcoin yet, so that mitigates a lot of risk associated with traditional fiat currency casinos, be it an online casino or a brick and mortar casino establishment.
discusses fiat currency, the financial excesses and abuse it engenders, interventionist policy response to perpetuate it, and the role of the US dollar going forward;
So, of course, among the prominent voices throwing their weight behind a global fiat currency and a global central bank are some of the most influential media outlets in the world.
In an era of massive fiat currency expansion by profligate governments across the globe, today's currencies are depreciating in value faster than yesterday's news.
Tether's platform was built to have the capability to digitize anything of value, including fiat currency and commodities, and transact in more secure, fast, and low-cost way than any existing system," said Reeve Collins, CEO of Tether.
Unlike an official fiat currency, no part of Ripple's valuation is based on legal compulsion.
While the Bitcoin currency/commodity's value in relation to fiat currency will continue to go up and down like a DVD of Deep Throat on fast forward, 2014 will see some major online gambling operator take the bold step by listing Bitcoin as a routine option for deposits and withdrawals.
Central bankers remain concerned by the disproportionate level of dollars in reserves as well as fiat currency risk as a whole, intensified by the sovereign debt crisis in the euro zone.
Specifically, they allow us to focus on 1) the qualities of a commodity that enable it to become a dominant currency, 2) the route by which a nationally mandated paper currency becomes acceptable as a medium of exchange, and 3) the way in which competition between currencies sustains the exchange value of a fiat currency by restricting the actions available to the monetary authority.