Authorization or sanction: government fiat. (noun)
American Heritage(R) Dictionary of the English Language, Fifth Edition. Copyright (c) 2011 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
Use "fiat" in a sentence
"The term "fiat currency" pops up frequently in various places this refers to money that is directly benchmarked to the average number of times Italian cars break down in a week."
"I used the term fiat lending to differentiate from on-lending."
"The term fiat money is used to mean: any money declared by a government to be legal tender; state-issued money which is neither legally convertible to any other thing, nor fixed in value in terms of any objective standard; money without intrinsic value."