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What is Understanding Fiat Money and Its Impact about?

Fiat money is currency that derives its value from government regulation rather than being backed by a physical commodity. It is money that is declared by a government to be legal tender, meaning it must be accepted as a form of payment. Fiat money gets its value because governments require it to pay taxes and debts and validate its use in buying and selling goods and services. Most major currencies today like the US dollar, euro, and yen are fiat currencies.

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