How money actually works · Lesson 3 of 10
What does 'fiat currency' actually mean?
Fiat means money by law rather than by metal — a design with a known weakness.
About 8 minutes · Foundation
What to take away
- No redemption right sits behind a fiat note.
- The dollar became fully fiat in 1971.
- Quantity is a decision, and decisions face pressure.
Why this lesson is written this way
Each point above is checkable. Where the subject is genuinely disputed — the causes of inflation, the future of the dollar's reserve role, whether current debt levels are sustainable — the lesson states both readings rather than choosing quietly for you. Nothing here predicts a price, because nobody can.
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