# Fiat currency

`kaal:entity:fiat-currency`

**Status.** derived

This node is assembled mechanically from the 2 claims that carry the concept tag `fiat-currency`. It is a roster of what the corpus says under this term. It is **not** an adjudicated definition: no single statement here has been ruled canonical, and no first-appearance call has been made. Read the claims and judge for yourself.

## Every claim under this term

2 claims across 1 works, 2019 to 2019.

**2019**

- [3396522-001](https://wulfkaal.github.io/claims/3396522-001) [failure/argued] *(failure mode)* -- The unfettered discretion of fiat monetary policy makers can lead to arbitrary outcomes, because the overall value and stability of any fiat currency is contingent on the fluctuations and successes of a country's economy rather than on any fixed valuation basis.
  > The unfettered discretion of policy makers can lead to arbitrary outcomes.8 The overall value and stability of any fiat currency is contingent on fluctuations and successes of a country's economy.9
  Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Stable Cryptocurrencies (2019). SSRN: https://ssrn.com/abstract=3396522
- [3396522-002](https://wulfkaal.github.io/claims/3396522-002) [failure/argued] *(failure mode)* -- Monetary policy making for fiat currencies largely lacks transparency, and that opacity prevents markets from taking anticipatory action on policy indicators.
  > Lastly, monetary policy making for fiat currencies is largely lacking transparency. The lacking transparency of monetary policy making does not allow for anticipatory market action based on policy indicators.
  Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Stable Cryptocurrencies (2019). SSRN: https://ssrn.com/abstract=3396522

## Verify

Every claim above resolves to a record carrying a verbatim source quote, the sha256 of the source PDF, and a preformatted citation. Nothing here asks to be taken on trust.

    curl -s https://wulfkaal.github.io/entities/fiat-currency.md | sha256sum

**Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.