How does money get transferred to other countries in ebay transactions?
jopa asked:
I hear that for all money in circulation there must be a gold equivalent somewhere, does the money I pay to someone in China also have a gold equivalent that goes to China? how does this work?
so the gold in reserves is no longer equal to the money in circulation?
I hear that for all money in circulation there must be a gold equivalent somewhere, does the money I pay to someone in China also have a gold equivalent that goes to China? how does this work?
so the gold in reserves is no longer equal to the money in circulation?
Tags: Circulation, Countries, Gold
March 18th, 2010 at 6:51 pm
electronily all money is transfer electronicy
March 20th, 2010 at 2:46 pm
Seems like you’re over-thinking this. If you pay $5 American, it just goes through currency conversion, and the seller gets the equivalent in their country’s currency.
It just instantly happens electronically.
Good luck!