Fiat money refers to a type of currency that holds value because a government declares it as legal tender, rather than being backed by a physical commodity like gold or silver. Most modern economies ...

Commodity money is a form of money that derives an intrinsic value from its underlying commodity and the supply and demand dynamics. Gold and silver have been accepted as commodity money for centuries ...

Fiat money is a currency issued by a government that is backed by the authority and power of that government and its economy rather than a physical commodity. Historically, governments would mint ...