Question by simplyred: Why cant the whole world use the same currency and sweep out the term “currency exchange”?
Best answer:
Answer by Sheepdog
Why would they want to?
The countries that would most like to do this are those that do not, or could not, pull their own weight in a global economy.
There have already been squabbles amongst the nations of the European Union over these issues.
What do you think? Answer below!
Tags: cant, Currency, Exchange, same, sweep, Term, whole, World
that is extreme globalization, and I friend want no part of it.
you dont like the exchange rates stay home.
one small step towards communism.
This will never, ever happen. No way, no how. Unthinkable. Countries have far too much pride and nationalism and autonomy for that to ever happen.
It has to do with control over the money supply. When you can print money or make changes to banking regulations and control interest rates, you have huge power over your economy. To go to one currency would remove this power from individual governments and an international central bank would have to be formed. Beside the difficulty in actually making this work, very few governments would ever give up that much control over their economy.
It has, the US dollar is the measure that other economies use to determine the strength of their own. This is the bench mark.