Inconvertible paper money made legal tender by a government decree.
More example sentences
- On the other hand, they were resolutely opposed to government-issued paper money, fiat money, legal tender laws, inconvertible paper currency, and land banks.
- Then, add fiat money and foreign exchange controls to the mix and it's no wonder investors and the press get so mixed up.
- Among the most gruesome consequences of fiat money, and of paper money in particular, is its ability to extend the length of wars.
More definitions of fiat moneyDefinition of fiat money in:
- The US English dictionary