| 释义 |
fiduciary issue
fiduciary issue n (Economics) an issue of banknotes not backed by gold fiduciary issue
fiduciary issue or fiat currency CURRENCY issued by a government that is not matched by government holdings of GOLD or other securities. In the 19th century most currency issues were backed by gold, and people could exchange their BANK NOTES for gold on demand. Nowadays most governments have only minimal holdings of gold and other securities to redeem their currency so most of their currency issues are fiduciary See MONEY SUPPLY. |