Introduction

By: Colby Alvino, Jacob Salamy, & David Brown

What is fiat money?

“Fiat money is paper money that cannot be converted or swapped for its equivalent value in precious metals. It is made legal tender by the government. This means, in short, that a creditor must accept the paper money as a payment of debts.” – Joseph Albert Ernst

 

Sorry, Gollum, but your fiat money can’t be swapped for this precious metal.

 

A modern example of fiat money

 

SaveSave

SaveSave

SaveSave

SaveSave

SaveSave

SaveSave

css.php