"Fiat money is the term for a medium of exchange which is neither a commercial commodity, a consumer, or a producer good, nor title to any such commodity: i.e., irredeemable paper money."
Another great suggestion by @stephanlivera, we begin our dive into Hans-Hermann Hoppe's extended piece on the Devolution of money and credit, "How is Fiat Money Possible." Don't miss an incredible read and fun discussion that follows.
Don't forget to check out the vast collection of knowledge at Mises.org for this work and many more like it.
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