







fiat currency
legal tender
By fiat, he means that it has value only because the Fed says it does.
Under today's fiat-money regimes, central banks, as a rule, control short-term interest rates.

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Open the tool →法币 (fǎ bì) means “fiat currency, legal tender”.
法币 is pronounced fǎ bì in Mandarin Chinese.
“fiat currency” is 法币 (fǎ bì) in Chinese.
This page has 2 example sentences using 法币, each with pinyin and an English translation.