Fiat money is money that a government declares is legal tender. Fiat refers to the government order. It’s from the Latin, like so many of our legal words, and it means “let it be done.” The government looks at the notion that paper bills can be legal tender, and says, “let it be done.” Gold-backed money, also known as hard currency, is money that can be converted to actual gold. It used to be this way. Your…

A protocol is a set of rules. It describes the proper protocol for certain actions and behaviors. David Johnston, the Governor General of Canada, broke protocol when he touched Queen Elizabeth II on the steps of Canada House on Trafalgar Square in London. The Queen was 91 years old at the time and the Governor General touched her arm to protect her from falling on the steps. It is protocol to not touch a member of Britain’s…