Money is fiducjarny

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Fiduciary (Latin: fides) - a currency that is not based on material goods (such as ore), whose value is generally derived from the legal monopoly used in the area as a legal means of payment and on demand generated by state institutions, mainly by collecting taxes. The value of fiduciary money is based on trust in the issuer.

It has traditionally been assumed that the concept of fiat money is equivalent to paper money, as opposed to, for example, coins from precious ore. But such identification is not entirely correct, because fiduciary money is also commonly distributed as billets of common metal, while bullion-based money has been and is often represented by paper banknotes (certificates for the extraction of gold from the bank's treasury). With fiduciary money we also have to deal with if the coin is made of precious metal, but its nominal value is greater than the value of the ore forming it.

In modern economic systems, fiat money is emitted by central banks within the monetary policy pursued by them. The main instrument regulating the amount of money in circulation is the interest rate on loans granted by central banks, fixed from time to time. The purpose of such changes is, as a rule, to maintain the economic conditions and stability of the banks. Bibliography Authoritative control (Money):

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