Like 1 USD can get you 6 Trinidad dollars, or 1 usd and get you 18,000 vietnamese dong. Which countries currency takes the most for 1 USD
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Why else would it encourage its people to buy gold?
Sleddog3: Thorough as always
What if China did with gold what USA did with silver between 1913 and 196(5?): used paper currency which was backed by and exchangeable for specie?
The only way the Brit’s theory works is if the Yuan in paper was merely an expression of the gold yuan. Meaning a hard currency without the difficulty of moving coins. Amounts of yuan could be transmitted electronically as we do now here and would still be always equal to and exchangeable for gold yuan.
Would a country want to have a currency they couldn’t inflate? That requires some good old-fashioned thinking and would be very frustrating to bankers grown spoiled on funny money, which I like.
Your fourth point seems very likely and we should be doing that here. As for there not being enough gold to back currencies, ideally there should be no more currency issued than is backed by gold, with the currency valued accordingly. Fluctuation is minimized by world’s reserve being gold not paper.
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Hi I am traveling to Canada this friday. I have a lot of different currencies from a lot of countries but I cannot exchange them here in Scotland because they don’t exchange them for some reason. The currencies I have are from Algeria, Nigeria, Tunisia, Central Africa and Egypt and together they make a significant amount that I could put to good use. I have collected these as I traveled around. My question is can I convert these to British Pounds or Canadian dollars at an airport or are they of no use anymore?