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fiat

/ˈfaɪæt/

Meanings
  • noun

    An order or decree that is not dependent on any specific enacting legislation and is issued by a person or body having the authority of law.

    - "The fiat currency is not backed by any physical commodity."
    - "The Pope issued a fiat decree, making it law."

Rhymes
Words rhyming with fiat
mate , hate , fate
Variants
List of all variants of fiat that leads to same result
fiat , fiats , fiat money , fiat moneys , fiat experimentum in corpore vili , fiat justitia , ruat caelum , fiat lux
Etymology
origin and the way in which meanings have changed throughout history.

From the Latin word 'fiat' meaning 'let it be done'.


Trivia
Any details, considerations, events or pieces of information regarding the word
  1. The term 'fiat' is often used in discussions about the stability and value of currencies.

  2. The first known use of the term 'fiat' in the context of currency was in the 13th century.

  3. The value of a fiat currency is based on the faith and credit of the issuing government and the economy as a whole.


Related Concepts
informations on related concepts or terms closely associated with the word. Discuss semantic fields or domains that the word belongs to
  1. fiat money: Currency that a government has declared to be legal tender, but it is not backed by a physical commodity.

  2. fiat currency: A currency that is not backed by a physical commodity but is instead based on the faith and credit of the issuing government.


Culture
Any cultural, historical, or symbolic significance of the word. Explore how the word has been used in literature, art, music, or other forms of expression.

In finance, a fiat currency is one that is not backed by a physical commodity but rather by the government that issued it. The term is often used in discussions about the stability and value of currencies.

How to Memorize "fiat"

  1. visualize

    - Visualize a government official issuing a decree, 'Fiat currency, let it be done!'

  2. associate

    - Associate the word 'fiat' with 'decree' or 'order'.

  3. mnemonics

    - Remember the Latin origin of the word 'fiat' meaning 'let it be done'.


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