Um . . yeah. I'd like to here acknowledge that I am completely aware that Australia didn't HAVE a dollar until 1966, and that the currency that has been stable since the Great Depression has, for much of that time been the now defunct Australian pound.Usenko wrote: An Australian dollar is a tiny portion of Australia's wealth. We never really worry about that, because the wealth of Australia has been fairly consistant over the years (we haven't had any really major dramas with the dollar since the Great Depression, although we have the occasional fluctuation of its value). But the reason a dollar is able to buy goods and services from Australia's people is the tacit acceptance that it is backed by Australia.
(Grateful that nobody else pointed out my lapse of intelligence)