Definition of unbacked in English:
1Having no financial, material, or moral support.
- In the world of Phoebe, striving unbacked by integrity may be blameworthy, but dullness is unforgivable.
- Now, since this money is unbacked by any previous production of real wealth it will set in motion an exchange of nothing for something, or a redirection of real savings from wealth generators towards the borrower of the newly created $1000.
- Unlike a 100-percent reserve system, in which banks cannot issue more in notes than they have specie in their vaults, there is no logical limit to the expansion of the unbacked paper money favored by Fathers Coughlin and Fahey.
Definition of unbacked in:
- US English dictionary