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  1. #11
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    Quote Originally Posted by Gerbah View Post
    Aren't we already in a sense being globally governed? Economically? By the purse strings? When I cannot preserve my wealth in paper and even if I put it into commodities those are manipulated so I can't use my wealth at its actual value? And I don't want to be forced into speculation to preserve my money?
    You're not being governed by a single entity.

    Quote Originally Posted by Gerbah View Post
    Yes. I see a global fiat currency as that. Especially when I read about the discussions of using IMF SDRs as such. Or at least as the world reserve currency. Then you could get around the problem of gold and the gold price because SDRs are paper gold and the IMF could print as much as they want with no one to really regulate it.
    Depends on what I would consider unknown circumstances.

  2. #12
    & Badger, Ratty and Toad Mole's Avatar
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    The USA owns, controls and prints the Reserve Currency of the World.

  3. #13
    Senior Member Lateralus's Avatar
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    The world already has a global currency. It's called the US dollar. That may or may not continue to be the global currency.
    "We grow up thinking that beliefs are something to be proud of, but they're really nothing but opinions one refuses to reconsider. Beliefs are easy. The stronger your beliefs are, the less open you are to growth and wisdom, because "strength of belief" is only the intensity with which you resist questioning yourself. As soon as you are proud of a belief, as soon as you think it adds something to who you are, then you've made it a part of your ego."

  4. #14
    Senior Member Survive & Stay Free's Avatar
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    Quote Originally Posted by Halla74 View Post
    Mankind will destroy the world before there is a single world currency.

    I do not think that is likely to happen as it would prevent several major world powers from manipulating things to their advantage.

    A recent example, despite the overall success of the Euro, The UK stuck with Pound Sterling.

    China wouldn't be able to manipulate their economy if their currency were to float like the rest of the world's nations.

    I just don't see a single world currency as a feasible option in a world of corrupt and powerful nations.
    I agree with that, currencies and the money system is still the way that the power players aim to control the world.

    The UK probably had its own selfish and strategic reasons for opting out of the Euro, there are still major in congruences between the UK and EU mainland, despite being much more fiscally liberal than a lot of US democrat states they are still to the right wing of most of the EU in fiscal, foreign and social policy.

    I think realistically there needs to be congruence on those things or even something such as taxation before there can be a single currency.

    Plus the UK was the only EU member state that really took seriously the idea that federal US would decide confederal Europe was the new evil empire to try and engage in a cold war style tennis match.

    Before the reinvigoration of the Russia threat and suicidal terrorism there were significant tensions and prior to the invasion of Iraq the Iraqis were trying to join with neighbouring states to have the Euro adopted as the petro "dollar".

  5. #15
    Priestess Of Syrinx Katsuni's Avatar
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    Quote Originally Posted by Lateralus View Post
    The world already has a global currency. It's called the US dollar. That may or may not continue to be the global currency.
    Hardly the case... that's north america's currency, and it doesn't really work as a 'global' one even then as it's not accepted in most places in canada outside of convenience stores and banks.

    The 'euro' would be far more accurate of a "global" currency, as it covers many more countries where it's accepted as legal tender over the counter.

    However, even then... the thing is that to be a 'global' currency there's several factors which need to be included:

    1: It must be accepted over the counter in any country
    2: It must be used as a baseline for determining the value of other currencies
    3: It must be available to be printed in all countries for circulation
    4: It must be accepted as the default currency by businesses

    Currently, the US dollar fits none of these factors, so no, it's not a global currency.

    The only thing that comes truly close right now is gold, and it still is lacking in many ways.



    Now, the idea of a global currency is nice in some ways, because it does mean we'd have alot less problems with tourism and international trade. If everyone used Nuyen or Spacebucks or BisonBucks! (wewts bisonbucks!) then we would have far less issues with traveling between countries, or interacting with other people there. A single language is also a good idea for similar reasons (of which english is considered the language of commerce, but it's by far not universal by any means).

    The biggest problem here, is that currency goes along with language as one of the major foundations of culture. If yeu loose yeur language, yeur culture is crippled. If yeu loose yeur unique currency, stamps, and other things which say "this is who we are that makes us different from everyone else", then yeu really don't have much of a country anymore.

    Yeu can't control yeur dollar as well anymore, don't have the option to print more money if needed, can't make it more unique or individual to yeur own country, and are stuck being directly tied to whot everyone else wants. For smaller countries this can be bad, as it may mean that their dollar is tied to a much wealthier countries', making it so that their lower paid workers have an even harder time escaping from that pit. For wealthier countries, like brittian, yeu'll notice they actually reject such things as they have the power to do so, and their dollar is usually stronger or more stable (brittian doesn't use the euro).

    Now, that being said... we probably won't see a "unified global currency" any time soon, due to aforementioned problems. Large and small countries don't want to unify their monies, and it can really tie things in TOO globally... the USA is having some major financial troubles right now... to the point that canada's dollar surpassed it for awhile and is still alot higher than it used to be. Countries like england and japan won't want to be stuck having their money tied to one which isn't deemed stable or safe, because if the american dollar flops, then theirs would as well, which would globally screw up everyone.

    Currently, there is some of that going on, but since the US dollar isn't used as the international baseline, it's not nearly as large of an effect as it could be. If we only had one global currency, then we'd be really hurting right now due to other countries which couldn't afford that dip would be forced to absorb more than their fair share of the problem.

    In any case, we won't likely see a truly global currency any time soon, since it'd probably just cause more problems than it would help.

    Regional currencies, such as the euro, however, may grow into further favour over time.

  6. #16
    Senior Member Lateralus's Avatar
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    Quote Originally Posted by Katsuni View Post
    Hardly the case... that's north america's currency, and it doesn't really work as a 'global' one even then as it's not accepted in most places in canada outside of convenience stores and banks.
    This is not true. The US dollar is accepted in many third world countries where their local currency is useless, like Zimbabwe.

    The 'euro' would be far more accurate of a "global" currency, as it covers many more countries where it's accepted as legal tender over the counter.
    This is not true. The Euro is only accepted in more countries officially. That says nothing about unofficial uses.

    However, even then... the thing is that to be a 'global' currency there's several factors which need to be included:

    1: It must be accepted over the counter in any country
    2: It must be used as a baseline for determining the value of other currencies
    3: It must be available to be printed in all countries for circulation
    4: It must be accepted as the default currency by businesses
    #1 is false. It doesn't have to be accepted in every country unless you're just looking for a definition so strict that no currency will ever fit.

    #2 is false. The dollar IS used as a baseline for other currencies. See China.

    #3 is false. I can't even begin to describe how stupid this statement is.

    #4 is false. It does not have to be the default, it just has to be accepted by the population.

    Currently, the US dollar fits none of these factors, so no, it's not a global currency.
    Wrong, the dollar fits one factor. The other three aren't even factors. They're things you made up.

    The only thing that comes truly close right now is gold, and it still is lacking in many ways.
    Gold is not a currency, unless it's minted.
    "We grow up thinking that beliefs are something to be proud of, but they're really nothing but opinions one refuses to reconsider. Beliefs are easy. The stronger your beliefs are, the less open you are to growth and wisdom, because "strength of belief" is only the intensity with which you resist questioning yourself. As soon as you are proud of a belief, as soon as you think it adds something to who you are, then you've made it a part of your ego."

  7. #17
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    Thumbs down Mercantilism

    The whole point of Mercantilism is to own, control and print the Reserve Currency of the world.

    The USA has had the largest, mercantile economy for more than one hundred years.

    And when Saddam sought to change the Reserve Currency by selling his oil in euros, the USA invaded.

    And this, or destruction of their economy, will be the fate of anyone else who tries to change the Reserve Currency of the world.

    China for instance is now a mercantile nation and so naturally the Governor of the Reserve Bank of China has called for the replacement of the Reserve Currency.

    But he did this not because he thought the USA would accede, but to pay the USA back for supporting human rights in China and arming the Taiwanese. The Chinese know how to tweak the tail of the US tiger.

    And everyone else knows that the USA will not give up their greatest power without a fight or ruining you first.

    And to ask for a universal currency simply for your own convenience is fatuous.

  8. #18
    Senior Member Gerbah's Avatar
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    My thinking behind the question was that a global currency would essentially mean a global government, since whoever controls the currency controls everything else. (e.g. "Bankers own the earth. Take it away from them, but leave them the power to create money and control credit, and with a flick of a pen they will create enough to buy it back." Sir Josiah Stamp, former President, Bank of England). Even if the global government didn't have an official face. Power is essentially in private hands already. A global currency would just consolidate that power even more as we (the people) would have even less influence.

    Today I read that Germany is going back on what they were saying and is now seemingly ready to bail out Greece. The debt is just being passed around. I don't see how much longer this can go on. When USD has crashed and Euro has crashed, what will be left? They will tell us that the people need a global currency.
    the shoheen ho of the wind of the west and the lulla lo of the soft sea billow - Alfred Graves

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