The value of Fiat currency is a nation's credit, and that is because it is used to clear off debt by the citizens of a nation.
Fiat currency is, thus, a government issued-currency that is not supported by physical commodity, such physical commodity can be gold or silver.
The value of fiat money then is gotten from the relationship between supply and demand and the stability of government issuing it instead of the worth of a commodity that backs it.
For example, the United states dollar, euro and many world currencies are all fiat currency.
Government, historically, mint coins from valuable physical commodity and print paper money that could be redeemed for a particular amount of physical commodity.
In the case of inflation or hyperinflation, fiat money tends to loose value and this is because it is not connected to physical reserves such as gold or silver. if people lose faith in the country's currency, it tends to lose its value.
This is entirely different from currency that is backed by gold mainly because the demands for products made of gold such as jewelries, computers, electronic devices and aerospace vehicles are very high.
Fiat currency is issued by most government as legal tender for the purpose of debt repayment
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KEYWORDS:
- fiat money
- gold or silver
- currency
- government
- debt
- physical commodity
- legal tender
Answer:
Thank you, you are a saint
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Answer:
Islam as a religion began with the message which was spread by Islam’s Prophet and God’s Messenger Muhammad ibn Abdallah in the Arabian Peninsula in 610 CE and which was contained in the Qur’an, God’s revelation to Muhammad. After Muhammad’s death in 632, his followers, the Muslims, embarked on successive waves of conquest of the Middle East and beyond; within less than a century, they had political and military control of virtually all the lands between India and Spain. The exercise of this control came from a state that was called the caliphate, its ruler being viewed as the caliph, or “successor,” to the Prophet Muhammad. In the first few decades, the state, based in Arabia, was simple and its ruler elected on the basis of merit. However, following the expansion, it soon turned into a complex, multi-national empire ruled by dynasties based in Syria first (the Umayyads, 661-750 CE) and then in Iraq (the Abbasids, 750-1258 CE). The caliphal system became weakened in the later ninth century, and by the tenth century, real power had moved to several local dynasties although the caliph remained the nominal head of the empire. The Abbasid empire and most of the local dynasties were overrun and practically destroyed by the Mongol invasion of the Middle East in 1258. That invasion ended not only the early phase of Islamic history, but also the “Golden Age” of Islamic civilization, which had been developing slowly from the beginning of this period. The “Golden Age” refers to the period when the varied contributions of Islamic civilization reached their peak in both the indigenous Islamic disciplines (such as Islamic law) and the newly imported disciplines of late antiquity (such as philosophy).
Explanation:
hope that helps
Answer:
The answer is B) In the summer, big winds called monsoons bring lots of rain and thunderstorms to India.
Explanation:
I think this might be able to help u out
Answer:
George Whitefield
Explanation:
The description of "He was an Anglican minister, known for his work in the First Great Awakening and his assistance to John and Charles Wesley in founding the Methodist Church, " matches that of George Whitefield. He was a Briton by nationality and was born in 1714 in Great Britain.
He was popular for being the founders of Methodism and the evangelical movement. He eventually died at age 55 in Newburyport, Province of Massachusetts Bay, British America
