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Fiat money is a type of government issued currency that is not backed by a precious metal, such as gold or silver, nor by any other tangible asset or commodity. Fiat currency is typically designated by the issuing government to be legal tender , and is authorized by government regulation.
U.S. Solicitor General Elena Kagan, later an Associate Justice of the Supreme Court, defended the use of TARP funds for helping Chrysler, and argued that the pension funds' appeal to block the sale to Fiat lacked legal merit. She said that the losses that the pension funds would incur "cannot outweigh" the potential larger problems that a ...
Fiat money, if physically represented in the form of currency (paper or coins), can be accidentally damaged or destroyed. However, fiat money has an advantage over representative or commodity money, in that the same laws that created the money can also define rules for its replacement in case of damage or destruction.
To get a behind-the-scenes look at the enigmatic 48-year-old, Fortune spoke with Jennifer Clark, author of L’Ultima Dinastia, or The Last Dynasty, a history of the family behind Fiat.
Internal public debt owed by a government (money a government borrows from its citizens) is part of the country's national debt. It is a form of fiat creation of money, in which the government obtains finance not by creating it de novo, but by borrowing it.
The latest 13F reporting period has come and gone, and Insider Monkey have plowed through 821 13F filings that hedge funds and well-known value investors are required to file by the SEC. The 13F ...
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On 7 June 2009, the Indiana State Police Pension Fund, the Indiana Teacher's Retirement Fund, and the state's Major Moves Construction Fund asked the US Supreme Court to delay the sale of Chrysler to Fiat while they challenge the deal. The funds argued that the sale went against US bankruptcy law because it unlawfully rewarded unsecured ...