Message:

<p>[QUOTE=&quot;Gilbert, post: 2112842, member: 73104&quot;]<b>Fiat money</b> is <a href="http://en.m.wikipedia.org/wiki/Currency" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://en.m.wikipedia.org/wiki/Currency" rel="nofollow">currency</a> which derives its value from government regulation or law. The term derives from the <a href="http://en.m.wikipedia.org/wiki/Latin_language" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://en.m.wikipedia.org/wiki/Latin_language" rel="nofollow">Latin</a> <i><a href="http://en.wiktionary.org/wiki/fiat#Latin" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://en.wiktionary.org/wiki/fiat#Latin" rel="nofollow">fiat</a></i> (&quot;let it be done&quot;, &quot;it shall be&quot;).<a href="http://en.m.wikipedia.org/wiki/Fiat_money#cite_note-1" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://en.m.wikipedia.org/wiki/Fiat_money#cite_note-1" rel="nofollow">[1]</a> It differs from <a href="http://en.m.wikipedia.org/wiki/Commodity_money" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://en.m.wikipedia.org/wiki/Commodity_money" rel="nofollow">commodity money</a> and <a href="http://en.m.wikipedia.org/wiki/Representative_money" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://en.m.wikipedia.org/wiki/Representative_money" rel="nofollow">representative money</a>. Commodity money is based on a good, often a <a href="http://en.m.wikipedia.org/wiki/Precious_metal" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://en.m.wikipedia.org/wiki/Precious_metal" rel="nofollow">precious metal</a> such as <a href="http://en.m.wikipedia.org/wiki/Gold_standard" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://en.m.wikipedia.org/wiki/Gold_standard" rel="nofollow">gold</a> or <a href="http://en.m.wikipedia.org/wiki/Silver_standard" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://en.m.wikipedia.org/wiki/Silver_standard" rel="nofollow">silver</a>, which has uses other than as a <a href="http://en.m.wikipedia.org/wiki/Medium_of_exchange" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://en.m.wikipedia.org/wiki/Medium_of_exchange" rel="nofollow">medium of exchange</a>, while representative money is a claim on the commodity rather than the actual good.</p><p><br /></p><p><a href="http://en.m.wikipedia.org/wiki/Fiat_money" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://en.m.wikipedia.org/wiki/Fiat_money" rel="nofollow">http://en.m.wikipedia.org/wiki/Fiat_money</a>[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in