A Brief History of Fiat Currency — Market Mad House

Fiat currency was one of the most revolutionary inventions in history, yet few of us know its history.

A fiat currency is money created by government order or fiat. In the modern world, a fiat currency, such as the US dollar, is a nation’s official currency or legal tender. Generally, central banks, such as the US Federal Reserve, issue fiat currencies.

All the world’s economies run on fiat currencies. Fiat currencies enable you to walk into any store and pay for your stuff.




Lessons from History is a platform for writers who share ideas and inspirational stories from world history. The objective is to promote history on Medium and demonstrate the value of historical writing.

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Daniel G. Jennings

Daniel G. Jennings

Daniel G. Jennings is a writer who lives and works in Colorado. He is a lifelong history buff who is fascinated by stocks, politics, and cryptocurrency.

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