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
That they don’t have any good ones to do that they
With congress, the Senate and House of Representatives. The Senate ensured that no matter how big or small the state was they would receive 2 senators for each state,this pleased the small states, or the New Jersey plan. The House of Reps was made to satisfy the larger states or the Virginia plan where the number of Representatives would come from the population of the state.
<span>It means that citizens "cannot be </span>compelled
to affirm and testify against them, leaving the weight of demonstrating that a man has
carried out a wrongdoing to the administration".
<span>At a
criminal trial, it isn't just the respondent who appreciates the Fifth Amendment
right not to affirm. Witnesses who are called to the testimony box can decline
to answer certain inquiries if replying would ensnare them in a criminal
action.</span>
There is no greater jump in human history in terms of warfare than the jump during World War I and the jump during World War II.
World War I marks the first major debut of killing technology onto the world stage. This included airplanes, chemical weapons, and more.
