/biz/ - Business & Finance

>>21154114
Yes I am aware of this, my question is:

If the gold I own is on an exchange/digits on a screen (not physical)

(how does it work, do I go to some physical store and tell them I want to trade in my holdings for physical gold?)

.... The only way to convert that into a physical currency is to go back into the (now worthless) dollar bills.

I can't wrap my head around physical gold being used in stores, will they weigh the amount to determine its worth and what/who will decide the number that gold settles on
x/ounce (right now its the exchange, right?)

Fiat = the generally used means of exchange?(ex. a dollar bill)

Thanks