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In economic textbooks, the term ‘fiat currency’ is loosely defined as ‘faith-based currency.’ The U.S. dollar is today a fiat currency, meaning that it has no physical backing such as gold or silver. Critics argue that this is a weakness.
Fiat, however, sees this as an example of the importance of trust, and even faith, for economic relationships to exist. When a parent gives a child a dollar for school, it is a vote of confidence and faith.
When an individual invests a dollar, they do so because they have faith that the underlying business will succeed. Without some amount of faith in each other, economic relationships both on a large and small scale cannot exist.
Trust is the bedrock of the work at Fiat Wealth Management.
Building a comprehensive and effective retirement plan that will give you the confidence to enjoy a carefree retirement and leave behind a financial legacy for your loved ones to enjoy.
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“Fiat Wealth Management, LLC is registered as an investment advisor with the SEC and only conducts business in states where it is properly registered or is excluded from registration requirements. Registration is not an endorsement of the firm by securities regulators and does not mean the advisor has achieved a specific level of skill or ability. The firm is not engaged in the practice of law or accounting.”
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