Question by Jonathan Seagull: How can a “one world currency” come into being ?
there is a movement in the U.S. to promote “nation-state” protectionism to try and stave off the collapse of currency. Current world trends indicates to me only one solution: a world wide money system: one world-wide currency.
Best answer:
Answer by dnbotte
One world currency or a North American currency? The latest conspiracy theory is that the federal reserve has been instructed to pulverize the dollar and form a North American Union between the US, Canada, and Mexico, similar to that of the EU, and their version of the Euro would be known as the Amero.
I don’t think this would solve our problems because Mexico is facing more issues than we are, and if our currency were to be their currency, then so would their monetary problems.A one world currency is very unlikely for th simple fact that not even the closest countries can cooperate enough to handle such a deal. Just look at how outraged the Italians are over the Deutchmark’s effect on the Euro.
A one world currency is also very risky, and it would eliminate alot of investment opportunties, especially for Americans, who like to diversify their investments into currency exchange, or hold on to a currency that is appreciating while their’s is depreciating.
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Tags: being, come, Currency, Into, World
Well even simpler solutions have not worked well. Just revisit the Bretton Woods Exchange rate system before the Kingston Accord. The world was not even able to maintain a US Dollor based currency standard not to speak of a world wide single currency. Or on the other hand, look at the plight of SDR that was envisaged to be something similar to a global currency.
I would say that even primary aspects are irreconcilable with regard to a single global currency – the issue of national sovereignty, the issue of the appropriate monetary authority, assignment of values- all can be very problematic.
So according to me this concept will continue to remain in the realm of utopia.