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Search Result for "fiat money":
Wordnet 3.0

NOUN (1)

1. money that the government declares to be legal tender although it cannot be converted into standard specie;


The Collaborative International Dictionary of English v.0.48:

Fiat \Fi"at\, n. [L., let it be done, 3d pers. sing., subj. pres., fr. fieri, used as pass. of facere to make. Cf. Be.] 1. An authoritative command or order to do something; an effectual decree. [1913 Webster] His fiat laid the corner stone. --Willis. [1913 Webster] 2. (Eng. Law) (a) A warrant of a judge for certain processes. (b) An authority for certain proceedings given by the Lord Chancellor's signature. [1913 Webster] Fiat money, irredeemable paper currency, not resting on a specie basis, but deriving its purchasing power from the declaratory fiat of the government issuing it. [1913 Webster]
WordNet (r) 3.0 (2006):

fiat money n 1: money that the government declares to be legal tender although it cannot be converted into standard specie