What is another word for fiat money?
Pronunciation: [fˈiːət mˈʌnɪ] (IPA) 
Fiat money is a type of currency that is not backed by any physical commodity or precious metal. Rather, it is declared legal tender by a government or central bank and its value is based solely on the faith and credit of the issuing entity. Some synonyms for fiat money might include paper money, legal tender, or currency. These terms all refer to the same concept of a government-issued medium of exchange that has value only by virtue of its acceptance as payment for goods and services. Other terms that may be used in place of fiat money include fiat currency or government-backed currency.
