What is a fiat money government?
A fiat money government is a government that uses fiat currency or currency that derives its value from government mandate. The vast majority of governments employ a fiat money system.Fiat MoneyFiat money is money that is not backed by any tangible asset or commodity. The term refers to the fact that the money has value solely because of government fiat.Commodity-Backed MoneyCommodity-backed money is based on an actual commodity such as gold or silver. In this system, each unit of currency represents a fixed amount of the underlying commodity. In a fiat money system, currency has no fixed value. This means that the value of the currency may rise or fall substantially in relation to commodities such as gold or silver.US Government AdoptionThe U.S. government used to issue currency based on the gold standard, but this system was gradually replaced with a fiat money system. This process began in 1933 when President Franklin D. Roosevelt nationalized privately owned gold and did away with
