All money is fiat money. It has an agreed upon value outside of its intrinsic worth. If you want to get away from fiat money you have to go back to barter.

[–] LootGoblin42@beehaw.org 3 points 10 months ago (21 children)

That's not true. Fiat money is money created and managed by a government. We need separation of State and Money.

from The American Heritage® Dictionary of the English Language, 5th Edition.

noun Legal tender, especially paper currency, authorized by a government but not based on or convertible into gold or silver.

from Wiktionary, Creative Commons Attribution/Share-Alike License.

noun economics Money that is given legal value or made legal tender for money debts by government fiat.

noun money that the government declares to be legal tender although it cannot be converted into standard speci

[–] Helluin@feddit.de 4 points 10 months ago

you should read "what is money" by mitchel innes. he shows very well that pretty much any money ever has been fiat money

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