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What is fiat money?

February 18, 2018July 30, 2017 by class

According to InvestorWords, fiat money is money which has no intrinsic value and cannot be redeemed for any commodity, but is made legal tender through government decree. If something has no intrinsic value and can’t be redeemed for anything that does, how could people value such a thing? In other words, how can such a … Read more

What is money?

February 3, 2019June 15, 2017 by class

According to the Merriam-Webster dictionary, the definition of money is something generally accepted as a medium of exchange, a measure of value, or a means of payment. So, what is money? This definition has three critical components: • Generally accepted as a medium of exchange • A measure of value • A means of payment … Read more