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World English Dictionary
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fiat money
fi·at mon·ey
noun
Definition:
money decreed by government:
paper money that a government declares to be legal tender although it is not based on or convertible into coins and therefore depends on government decree to determine its value
Encarta® World English Dictionary [North American Edition] © & (P)2009 Microsoft Corporation. All rights reserved. Developed for Microsoft by Bloomsbury Publishing Plc.
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