他指出，法币的价值只因为美联储说它可以。
By fiat, he means that it has value only because the Fed says it does.
在当今盛行的法币制度下，各国央行通常对短期利率拥有控制权。
Under today's fiat-money regimes, central banks, as a rule, control short-term interest rates.
1935年中国实行法币政策后，银本位制度实际上就放弃了。
Then in 1935, China began to implement a legal tender policy and the silver standard system was abandoned.
粮食价格平稳，稳定了大后方物价的总体水平，也使得法币较受民众信任；
Thirdly, the stabal grain price stabilized the general level of the commodity prices and also gained people's trust in the paper money issued by the government.
1935年法币政策的实施，加强了中央银行的力量，推动了中央银行职能的发挥。
The implementation of the reform of currency in 1935 strengthened the power of Central Bank and propelled the development of its functions.
直到五年后，1933年币制统一于“中央银行”发行的“法币”，币制已相对稳定，于是东莱银行又复业。
Within five years, a unified currency in 1933 the "central" issue of "legal tender" currency has been relatively stable, so Donglai Bank has to resume business.
直到五年后，1933年币制统一于“中央银行”发行的“法币”，币制已相对稳定，于是东莱银行又复业。
Within five years, a unified currency in 1933 the "central" issue of "legal tender" currency has been relatively stable, so Donglai Bank has to resume business.
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