Re: Why no world currency?
On Feb 22, 2007, at 9:16 AM, Nicholas Ruiz III wrote:
Perhaps because speculative and hedge currency trading is one of
the most lucrative and risk managing avenues the market offers? A world
currency is a catastrophic scenario for those that the current system
benefits…it’s really that simple. There is no incentive to speak of, to change
currency standards as they exist at present, by those in a position to
suggest such a change.
Currency trading has survived the creation of the euro, hasn’t it?
Besides, currency traders don’t rule the world. If moving towards
fewer currencies meant more fiscal and labor discipline - which is a
lot of what creating the euro was about - then the big bourgeoisie
would love it, even if a few currency traders had to learn how to
trade bonds instead. But the political and economic underpinnings for
a single global currency don’t exist; it’s impossible even to imagine
unifying the US dollar, the yen, and the euro into a single unit,
much less adding kwacha, baht, rupees, renminbi, and rubles to the mix.
Doug
February 23rd, 2007 at 12:07 am
“It would be difficult to exaggerate the psychological and social impact of the anticipated replacement of the jumble of existing monetary systems–for many, the ultimate fortress of nationalist pride–by a single world currency operating largely through electronic impulses.” … the above quoted text from Who Is Writing the Future? Reflections on the Twentieth Century led me on a personal quest to find a “single world currency” … as far as i can tell the new iraqi dinar has all the qualities needed to become the “new world” currency … some of my thoughts are located here … https://www.kitcomm.com/showthread.php?t=1069 … … … in furtherance to the document “Who Is Writing the Future?” … … “There is nothing in Bahá’u'lláh’s writings to encourage the illusion that the changes envisioned will come about easily.” … … … … it is also interesting to note that a “single world currency” is closely associated with “a single, unified system of communication” … … i keep a blog of telco news in general at nttl.ob yahoo message board … http://messages.finance.yahoo.com/Stocks%28AtoZ%29/StocksN/threadview?m=te&bn=36020&tid=376&mid=376&tof=1&frt=2#376 … … … … instead of out right dismissing the concept of a single world currency it is suggested that a more enlightened approach is to state some people believe it can happen and others don’t … oneness,dh … …. “It is apparent that the decades immediately ahead will see the integration of telephone, television, and computer technologies into a single, unified system of communication and information, whose inexpensive appliances will be available on a mass scale. It would be difficult to exaggerate the psychological and social impact of the anticipated replacement of the jumble of existing monetary systems–for many, the ultimate fortress of nationalist pride–by a single world currency operating largely through electronic impulses.”
February 23rd, 2007 at 2:14 am
Dear Doug,
I saw your comment about the prospects for a Single Global Currency, and recommend to you my book, “The Single Global Currency - Common Cents for the World” and the website of the Single Global Currency Association, www.singleglobalcurrency.org.
The prospects are actually better than many people think. Please consider how many Germans would have predicted in 1992 that in 10 years their Deutschmark would be gone, or the French their francs.
I look forward to hearing from you, and can send you an e-copy of the 2006 Edition of the book if you send me an email address. The 2007 Edition is available from Amazon.com.
Sincerely,
Morrison
Morrison Bonpasse
President, Single Global Currency Assn.
P.O. Box 390, Newcastle, ME 04553 USA
207-586-6078
www.singleglobalcurrency.org