money that the government declares to be legal tender although it cannot be converted into standard specie

fiat money is money without intrinsic value fiat is used as money because of government decree.

法定货币：没有内在价值、由政府法令确定作为通货使用的货币。

a number of elements are ready to force the issues of fiat money and virtual wealth which have brought your world to this breaking point.

一系列的因素已经準备好影响你们的法定货币及虚拟财富的发行，正是这些东西将你们的世界带到了如今这个地步。

we「ve been dealing with a system now for, oh, 70 years or better, of fiat money – money that」s backed with nothing.

现在我们已经用了好说70年的时间，一直在处理法定货币制度——没有什么做衬垫的货币。

deposit money forms when the depositor deposit his fiat money into the bank account.

存款人将法定货币（现钞）存入银行账户之后，形成了存款货币。

this massive fiat money inflation has negatively affected the standard of living of all americans.

这种大规模的货币通胀的负面影响所有美国人的生活水準。

history「s lesson is that there is no predictable top to the price of gold during a fiat money binge or crisis.

历史给我们的教训就是，在美元泛滥和危机的现在黄金价格还没有明确的顶部迹象。

it is important to understand that, while fiat money is issued and controlled by governments and their laws, bitcoin is generated and controlled by algorithm.

需要注意的是，法定货币是由政府发行并由法律进行控制的，而比特币是由计算法则创造和控制的。

fiat money is used as money because of government decree.

法定货币是由于政府的法令而被使用的货币。

so fiat money is money which is intrinsically worthless.

是以，名义货泉从它的素质来说现实上一钱不值。

and we need to be forced to accept the privileged bank」s fiat money in trade for real goods or services.

而且我们被迫接受这个特权银行的不可兑现货币，并用它购买真实的商品和服务。

sometime during this century, people will question the validity of the fiat money system.

在本世纪，人们会开始质疑法定货币制度的有效性。

fiat money has not only no particular value in use it does not even really have a value in exchange except that which is decreed that it would have.

名义货币不仅仅没有什么特别的价值，而且在商品的交换中它本身根本没有价值。它拥有的只是法律所赋予它的价值。

inflation in a fiat money world is difficult to suppress.

在不可兑换的货币的世界，通胀不可能被压制。

roach's fear – and he is hardly alone in this – is that the cumulative effect of these 「unconventional」 measures will be a collapse of confidence in fiat money of all types: dollars, yen, euros.

罗彻担忧的是---而且不只是他一个人担忧---这些「非常规」措施的累积效应将会导致人们对各种类型的法定货币丧失信心，如美元，日元及欧元。

of course, the parallels with today are not exact. law’s system took just four years to collapse; today’s fiat money regime has been running for nearly 40 years.

当然，这些直接与今天相互关联是不準确的，劳的体系仅仅四年就分崩离析了；而当今的不兑换纸币制度已经运行了将近40年。