You bring up an interesting point I have not considered. To convert back to the gold standard you would need to value it on another currency, to get that currency you need to buy it. How would you buy it? Zimbabwe did that a while back by introducing an existing currency. Might have been USD. I wonder how they got that in.
This is as far as my knowledge goes really. But I see it as this: If a dollar is created and it has no physical backing that is kept away and not used (EG, gold backing not sold to make jewelry) , then it is fiat. Being that the original backed currencies were tradable for gold if you wanted to do so.
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I've been watching brexit market discussions all day and I think AUZ will be fine so far. Any dips will be a good buying opportunity, assuming news is average.
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Mkt cap ! $12.58M | |||
| Open | High | Low | Value | Volume |
| 0.9¢ | 1.0¢ | 0.9¢ | $48.39K | 5.373M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 14 | 4006574 | 0.9¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
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| 1.0¢ | 4299994 | 15 |
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| Last trade - 16.10pm 21/05/2024 (20 minute delay) ? |
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| Open | High | Low | Volume | ||
| 0.9¢ | 1.0¢ | 0.9¢ | 3503122 | ||
| Last updated 14.56pm 21/05/2024 ? | |||||
| AUZ (ASX) Chart |