The value of fiat money is provided by the country and the central bank. To support its fiat currency on the international stage, the government must be active in the economy, issue bonds and shares of large state-owned companies, and back the money with precious metals and natural resources.
In other words, the value of a currency is based on the will turn any country's money into simple trash or devalue it to the maximum, as happens in underdeveloped countries.
Enlarge imageruble ruble exchange rate
In Russia, the fiat currency is the ruble. It is also the only british indian ocean territory business email list legal means of cash payment in our country.
Need a large sum of money urgently? Then take out a loan secured by real estate . The loan can be issued for up to 30 million rubles for a period of up to 15 years.
History of Fiat and the Development of Money
In ancient times, there was a natural barter - instead of money, products and objects were used. Later - ingots of precious metals, and then coins of silver, gold or copper. By the way, even then they tried to counterfeit them.
The first paper money was a certificate that indicated how much gold its owner had left in the bank. The name "bank note" appeared .
The first secured banknotes, according to various sources, appeared in China in the 9th-10th centuries, and much later in Europe.
