The Research On The Fundamental Theory Of Fiat Monetary Property

The currency is the medium of goods exchange and the general representative ofwealth;it is one of human's greatest inventions. The currency has gone through longhistory evolution. According to different standards, the currency can be divided intodifferent types. According to their legal status, the currency can be divided intoAccustomed Currency and Legal Tender. According to their value foundation, Legaltender can be divided into Legal Metal Money and Fiat Money. Fiat Money'smonetary status and legal effectiveness is stipulated and ensured by law. Meanwhile,the law endues its monetary value. So it's real legal money, or to say "Fiat money".With the coming of Fiat Money, the property attributes of the currency and thecontent of the monetary property have changed. Fiat Money is no longer monetaryproperty itself, but the note of monetary property. Fiat Monetary Property does nothave objective material object. It is the subjective right that is created by the law. TheFiat Monetary Property has special attribute, compared with the traditional property. Itis a new type of property. Researching on the specialty of Fiat Monetary Property isthe aim of researching on Legal Tender's relevant legal problems.This paper is divided into four parts. Part one: to elucidate the decisive effect ofvalue foundation to Legal Tender's legal attributes, On the basis of defining theconcept of Legal Tender. Different Legal Tender's value foundations are different,which conduce their legal attributes' difference. Fiat Money's monetary value dependson legal prescription. It is the note of monetary property.Part two: to dissertate the unique attribute of Fiat Monetary Property. FiatMonetary Property has unique attributes, which are different from the traditionalproperty. Fiat Monetary Property does not have realistic property object. It is the kindof subjective right, which is created by the law. Meanwhile, it is the original property.The other monetary property takes shape on the basis of Fiat Monetary Property. FiatMoney is the evidence of Fiat Monetary Property. It has some special characteristics.It is legal monetary note,legal warranting note, legal abstract note, legal context note,legal formal note, legal exchanging note, and legal current note.Part three: to describe the content of the Fiat Monetary Property on the basis ofpreceding paragraphs. Fiat Monetary Property is original property, involving twosubjects, property-creating subject and using subject. Property-creating subject isentitled to issue fiat money, to supervise the using of Fiat Money, to adjust the valueof Fiat Monetary Property, and to protect Fiat Money. The using subject is the naturalperson, legal person and the other organizations, which enjoy the legal MonetaryProperty, in the sovereign area of the currency. The using subject has absolute payingright, price-recording right, value-recording right, money-exchanging right, andmoney-keeping right.Part four: to expound Fiat Money's inherent risk and to illuminate how to preventthe risk. The inherent risk of Fiat Money includes political risk, issuing risk and usingrisk. Since the Property-creating subject enjoys the right of creating Fiat MonetaryProperty it takes the responsibility to prevent inherent risk of Fiat Monetary Property.The purpose of this paper is to illuminate the unique attribute of Fiat MonetaryProperty, establish the fundamental theory for current scattered monetary regulations.At the same time, as an important component of " monetary property right ", it is alsothe basic theory of the other monetary property right.