Do countries by physical assets from other countries like gold? Or like like say for example if Australia wanted to buy more USD for its reserve, would it buy US gold? Or like bills? Or is just data? Thanks!
Btw accidentally deleted my last post
In: Economics
They buy bills, but for the most part those bills never exist as physical currency. Almost all money only exists as notes on ledgers in banks. That is especially true of the money held by the rich and large institutions. Only the absolute poorest people have any kind of remotely large portion of their money in the form of physical bills.
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