Fiat money is a currency established as money by government regulation or law. The term derives from the Latin fiat ("let it be done", "it shall be") used in the sense of an order or decree. It differs from commodity money and representative money. Commodity money is created from a good, often a precious metal such as gold or silver, which has uses other than as a medium of exchange (such a good is called a commodity), while representative money simply represents a claim on such a good.

The first use of fiat money was recorded in China around 1000 AD. Since then, it has been used by various countries, concurrently with commodity currencies.

Definition

Fiat money has been defined variously as:

While gold- or silver-backed representative money entails the legal requirement that the bank of issue redeem it in fixed weights of gold or silver, fiat money's value is unrelated to the value of any physical quantity. A coin is fiat currency to the extent its face value, value defined in law, is greater than its market value as metal.

FIAT (Italian: Fabbrica Italiana Automobili Torino, Italian Automobiles Factory, Turin) is an Italian automaker which produces Fiat branded cars, and is part of Fiat Chrysler Automobiles through its subsidiary FCA Italy S.p.A.., the largest automobile manufacturer in Italy. The company, Fiat Automobiles S.p.A., was formed in January 2007 when Fiat reorganized its automobile business, and traces its history back to 1899 when the first Fiat, or Fabbrica Italiana Automobili Torino automobile, was produced.

Production output

Fiat in Europe

Fiat's main market is Europe, mainly focused in Italy. Historically successful in citycars and supermini sector, currently Fiat has a range of models focused on those two segments (in 2011, those accounted for the 84% of its sales). Fiat does not currently offer any large family car, nor an executive car.

Fiat's share of the European market shrank from 9.4 per cent in 2000 to 5.8 per cent in the summer of 2004. At this point Sergio Marchionne was appointed as Fiat Chief Executive. By March 2009 their market share had expanded back to 9.1%.

Fiat (Latin for "let it be done") is a theoretical construct in policy debate—derived from the word should in the resolution—whereby the substance of the resolution is debated, rather than the political feasibility of enactment and enforcement of a given plan, allowing an affirmative team to "imagine" a plan into being.

For example: a student at a high school debate argues that increases in United States support of United Nations peacekeeping may help to render the United States more multilateral. Such an increase is very unlikely to occur from the debate judge voting affirmative, but fiat allows the student to side-step this practicality, and argue on the substance of the idea, as if it could be immediately enacted.

There are different theories regarding fiat:

"Normal Means"—Going through the same political process comparable with normal legislative processes. There is no overarching, accepted definition of the legislative pathways which constitute "normal means," but clarification about what an affirmative team regards as "normal means" can be obtained as part of cross-examination by the negative team.

The Fiat 510 is a passenger car produced by Fiat between 1920-1925. It was made similar way than smaller 501 and 505 Fiats. Starting from 1920 was made sport version 510 S with more powerful engine and shorter chassis. The car was produced around 14,000 examples.

Engines

Fiat 510 Series1 1919

Fiat 510 Series1 1919

References