Quote Originally Posted by Seosaidh View Post
It just occurred to me: Federal Reserve notes are redeemable in United States coin and other United States currency. I think technically, since they can be redeemed, FRN's are not fiat currency. Unless I'm misunderstanding what fiat means.
I think that goes to US notes being fiat currency. As I understand that to mean bank notes - currency with no intrinsic value.