Gold increasing foreign exchange, the world's gold reserves and their trading market have become a small fraction of all markets and fixed exchange rates of currencies to gold have been replaced by floating prices for gold and gold future contract. Though the gold stock grows by only 1 or 2% per year, very little metal is irretrievably consumed. Inventory above ground would satisfy many decades of industrial and even artisan uses at current prices. The gold proportion (fineness) of alloys is measured by karat (k). Pure gold (commercially termed "fine" gold) is designated as 24 karat, abbreviated 24k. English gold coins
Gold standard grams of pure (24-carat) gold. Mahathir claimed it would be a stable unit of account and a political symbol of unity between Islamic nations. This would purportedly reduce dependence on the US dollar and establish a non-debt-backed currency in accord with Sharia law that prohibited the charging of interest. the global monetary system continued to rely on the US dollar as the main reserve currency. Former U.S. Federal Reserve Chairman, Alan Greenspan acknowledged he was one of "a small minority" within the central bank that had some positive view on the gold standard. In a 1966 essay he contributed to