If the evident recent success of fiat money falters, we may have to go back to seashells or oxen as our medium of exchange,
42.
"In a fiat money system such as ours, the growth of the monetary base is a key determinant of the economy's long-run price level,"
43.
During the 13th century, Marco Polo described the fiat money of the Yuan Dynasty in his book " The Travels of Marco Polo ".
44.
In that speech, he mentioned that the government in a fiat money system owns the physical means of creating money and to maintain market liquidity.
45.
In addition, there were US citizens who advocated the continuance of government-issued fiat money ( United States Notes ) to avoid deflation and promote exports.
46.
The Bretton Woods system broke down in 1971, causing most countries to switch to fiat money money backed only by the laws of the country.
47.
In some cases, an economy may choose to abandon local currency altogether and adopt another Fiat money as legal tender in a process known as dollarization.
48.
Thus when fiat money is printed, government obligations that are not denominated in money increase in cost by more than the value of the money created.
49.
Coins not intended for circulation or for intrinsic value have also been made experimentally using an even larger variety of metals, since they function as fiat money.
50.
When Schimmelmann sought after a trade surplus, he thought it was especially important for a country like Denmark, where fiat money was the only means of payment.
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