Commodity money Essays

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Fiat money
The history and use of the fiat monetary system
The term fiat money is employed to define as hardly any money declared by way of a government to be legal tender without commodity backing. Legal tender simply means that there is a law requiring everyone to simply accept the currency in commerce. Besides, fiat money was state-issued money which is neither fixed in value in terms of any objective standard, nor legally convertible to anything else that was demanded by another person. In other word, fiat money is money without intrinsic..
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