Lindi's Lexicon of Stuff

The Language of Economics:

Fiat currency/money: is currency that a government has declared to be legal tender, but it is not backed by a physical commodity. The value of fiat money is derived from the relationship between supply and demand rather than the value of the material that the money is made of.

Important Dates & Times

This day in history: February 11th, 1990

Today, we all should put aside our political differences, ignore the constant media noise and reflect on the miracle that is our beautiful Rainbow nation, South Africa, which started with the release of Nelson Mandela on this day in 1990.