The traditionally Bitcoin-averse Trump accidentally painted a rosy picture of sound money after endorsing meddling in the dollar supply.
Fiat Money News
Fiat money is an assent without intrinsic value that is established as money by government regulation. Fiat money is worth something only while the government maintains it. Monetary economists define fiat money as an intrinsically-valueless object that is widely accepted as a means of payment. Fiat money is mostly under the jurisdiction of central banks that are the issuers of new currency while also being its main regulator. Fiat money is not necessarily a physical asset. Today most of the value of fiat money is stored in digital form. The supply of fiat currency is one of the most important macroeconomic tools for monetary authorities to manage inflation, stimulate intensive economic growth, and reduce unemployment. The purchasing power of fiat money is glued to the state’s authority and any damage to that authority leads to a decrease of fiat money’s value and results in inflation.
- Bitcoin Price Rejects $6.9K, But Is a Correction Now Imminent?
- World Health Organization Launches Blockchain Platform to Fight COVID-19
- Donald Trump Just ‘Advertised’ Bitcoin After Fed Creates $6 Trillion
- Most Traders Expect New All-Time High Price for Bitcoin in 2020
- Blockchain Jobs Continue to Rise Despite Global Recession