The U.S. fiduciary monetary system

Question

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The U.S. fiduciary monetary system is one where money is not convertible to a valuable commodity such as gold. This means that the value of money is not directly tied to a physical asset and is instead backed by the government's promise to honor and maintain the value of the currency. The system also allows for more flexibility in monetary policy as the government can adjust the money supply as needed without being constrained by the availability or scarcity of a commodity.

The U.S. Fiduciary Monetary System