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Old 03-12-2009, 05:53 PM   #1
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One World Currency

Nobel-prize winner backs world currency | The Australian
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Old 03-12-2009, 05:57 PM   #2
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Correction:

One World Currency
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Old 03-12-2009, 06:01 PM   #3
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Old 03-12-2009, 10:35 PM   #4
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It's just a matter of time. It's the beginning of the end, people.
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Old 03-13-2009, 12:54 AM   #5
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One thing we are all learning, is that all our economies are interdependent.

I am not sure how this would play out.
Would governments be able to increase their own money supply?
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Old 03-13-2009, 07:53 AM   #6
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Hah...will never happen. Considering how currency works on scarcity and relative value to other currencies, etc (a huge oversimplification, I know), why in the world would a rich country like the U.S. want to share a currency with, say, Zimbabwe, which has no fiscal discipline whatsoever? And, considering all the money made in foreign exchange markets, why would we want to eliminate it?

I just cannot realistically fathom how a single, global world currency would come together, considering how not even the Eurozone is not looking all that cohesive these days.
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Old 03-13-2009, 08:45 AM   #7
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I just cannot realistically fathom how a single, global world currency would come together, considering how not even the Eurozone is not looking all that cohesive these days.
Agreed. One world currency would need one world government and one banking system. How exactly would that happen?

Although as this global economic crisis deepens and we further understand just how interdependent we really are, we may see nationalistic protectionism wane in some regions leading to further regional consolidation.
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Old 03-13-2009, 10:35 AM   #8
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I'm sure nobody thought we'd see the Euro either. It may not be as strong, but it's still there. We'll come out of this current crap we're in, but I have no doubt there will come a time that a similar situation will push us all to more of a single currency. It may not include the whole world, but it will keep inching toward that.
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Old 03-13-2009, 10:45 AM   #9
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I'm sure nobody thought we'd see the Euro either. It may not be as strong, but it's still there. We'll come out of this current crap we're in, but I have no doubt there will come a time that a similar situation will push us all to more of a single currency. It may not include the whole world, but it will keep inching toward that.
I do see a push for more regional currencies, because many individual nations just will never have the stability and clout as, say, the USD or the Euro. But a global currency just doesn't add up. It's like handing everyone a million dollars and then saying that "everyone" is rich...except, at that point, a million dollars becomes worthless. The inherent value of a currency is almost dependent on the devaluation of others, it seems. Even gold...what is it really, aside from a shiny metal? Value is dependent on perceived scarcity, and a global currency seems to eliminate scarcity, thus eliminating value, thus eliminating the need for currency altogether.
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Old 03-13-2009, 10:52 AM   #10
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There are some who think we already have a global currency — credit.
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Old 03-13-2009, 02:20 PM   #11
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I do see a push for more regional currencies, because many individual nations just will never have the stability and clout as, say, the USD or the Euro....altogether.
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Old 03-13-2009, 02:52 PM   #12
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I've always found the religious apocalyptic fear of this type of movement scarier than the movement itself.
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Old 03-13-2009, 07:03 PM   #13
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I've always found the religious apocalyptic fear of this type of movement scarier than the movement itself.
well to be fair, it DOES say it in the book of revelation, does it not?
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Old 03-13-2009, 07:08 PM   #14
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I'm more scared of the 7 headed monster...
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Old 03-13-2009, 08:02 PM   #15
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Gold's value may be based on scarcity now, but I think its value began as it was a. yes shiny and, well 'gold', b. an incorruptable metal (does not rust), and so I suppose a good store of value. Hence the gold in gold coins. Ok, guys, I'm here all week.

One world currency, if such a thing came about, would follow one world government, not lead it. I think in the course of a couple of centuries, one world government is a real possibility. It's reasonably logical to expect political institutions to attempt to scale larger than the matters to be governed. In much the same way as England isn't an existing political entity in 2008, and that the EU exists at all.
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