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.