fiat

n. an official order or command given by a person or group with power.

n. an arbitrary or authoritative command or decree issued by a person or body in power.

“The new rules were established by government fiat rather than by a vote.”

“The monarch ruled by fiat, bypassing the traditional consultative councils to implement sweeping changes to the tax code.”

Formal

n. money that has value because the government says it is legal tender, not because it is backed by gold.

n. currency that is not backed by a physical commodity, such as gold or silver, but is established as legal tender by government regulation.

“Most modern countries use a fiat system for their national currency.”

“The transition from the gold standard to a fiat system allowed central banks greater flexibility in managing national monetary policy.”

Technical · Academic

v. to give an official order or to make something happen by using your power.

v. to issue an authoritative decree or to bring something into being through an act of will or command.

“The leader attempted to fiat a new era of prosperity through strict laws.”

“The council sought to fiat the reorganization of the district, though they lacked the legislative standing to enforce such a change.”

Formal · Literary