Exploring Topic Fiat Currency
Fiat currency is a synonym of fiat money and refers to any form of currency, virtual or physical, that does not have intrinsic value.
For instance, the value of the US Dollar isn't at all related to its physical representation. That is, dollar bills and coins do not have value themselves (their paper or metal), but represent some value stored elsewhere.
Every major world currency in circulation today is fiat currency.
What is Fiat Currency and What are the Problems with it
February 09, 2018 4:35 AM Discuss Cryptocurrency News & Your Guide to the Blockchain Economy Even many of cryptocurrency's harshest critics acknowledge that there are serious problems with fiat currencies. Strangely, enough the most outspoken critic of government-issued currencies; former International Monetary Fund (IMF) Chief Economist Kenneth S. Rogoff, is also a foe of cryptocurrency. Rogoff even wrote a book; The Curse of Cash, in which he recommended governments abolish paper cash completely. Rogoff's argument is that cash is draining money away from legitimate free enterprise and into the black market. He also accuses the world's central banks of promoting the black market by profiting from the sale of paper bills.
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