fiat

“As such, we expect the price of the yellow metal denominated in all fiat currencies to continue rising after working itself through the recent froth.”

Unlike its domestic payments product, the new initiative would entail the use of stablecoins, a digital currency that is pegged to a fiat currency such as the U.S. dollar.

It isn’t obvious we should want to ditch the fiat dollar.

It also contended the regulation was approved by “administrative fiat,” rather than through the proper rule-making procedure.

“This is an inflation hedge,” said Mitchell, who calls himself a critic of fiat currency long term.