Comment: Fiat money, irredeemable

(See in situ)

In reply to comment: NO! NO! NO! SO WRONG (see in situ)

Fiat money, irredeemable

Fiat money: irredeemable paper currency, **not resting on a
specie basis***, but deriving its purchasing power from the
declaratory fiat of the government issuing it.
[1913 Webster]