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  • WBH Ankit Jaiswal (Points - 7,8)

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    Ankit Jaiswal
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    The document discusses fiat currency systems. A fiat system is one where currency is issued by a central government authority and is not backed by a physical commodity like gold. Most currencies today are fiat currencies, which can fluctuate in value. The history of fiat systems began in Europe with the issuance of paper currency and emerged fully in the 20th century when many countries abandoned backing their currencies with gold in favor of fiat systems like the US dollar.

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    The document discusses fiat currency systems. A fiat system is one where currency is issued by a central government authority and is not backed by a physical commodity like gold. Most currencies today are fiat currencies, which can fluctuate in value. The history of fiat systems began in Europe with the issuance of paper currency and emerged fully in the 20th century when many countries abandoned backing their currencies with gold in favor of fiat systems like the US dollar.

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    6 views1 page

    WBH Ankit Jaiswal (Points - 7,8)

    Uploaded by

    Ankit Jaiswal
    The document discusses fiat currency systems. A fiat system is one where currency is issued by a central government authority and is not backed by a physical commodity like gold. Most currencies today are fiat currencies, which can fluctuate in value. The history of fiat systems began in Europe with the issuance of paper currency and emerged fully in the 20th century when many countries abandoned backing their currencies with gold in favor of fiat systems like the US dollar.

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    Slide 1 – What is Fiat System ?

    1. Government or central authority issues currency.


    2. Not backed by a physical commodity, such as gold or silver.
    3. Can be used to purchase goods and services.
    4. Most common form of currency in the world.
    5. Value of fiat currency can fluctuate.

    Slide 2 – Brief History about Fiat System


    1. European countries began to issue paper currency.
    2. Fiat system emerged in the 20th century.
    3. Abandonment of the gold standard by many countries.
    4. Example – US

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