One world currency?

Bjorn Bored.

Seems we are heading that way,the euro on the verge of collapse,the dollar owned more by china than the US sterling borrowed up to the hilt, I am not normally buying into a lot of this stuff but it seems a plausible outcome that they will have to merge at some point. I wont quote the bible but its all there!

cypharius

No it's not. Trading currencies is still a way to make money. Also, there's more then two currencies in the world. Some economies using different currencies are still reasonably stable(Canada, Saudi Arabia, Japan, Australia, these countries are falling on hard times but they're still doing OK and definately have different currencies).

Run_to_da_hills

cypharius wrote: »

No it's not. Trading currencies is still a way to make money. Also, there's more then two currencies in the world. Some economies using different currencies are still reasonably stable(Canada, Saudi Arabia, Japan, Australia, these countries are falling on hard times but they're still doing OK and definitely have different currencies).

If (or when, as it is only a matter of time) before there is a one whole currency it will be cashless.

What the banksters loose out on currency trading they can gain again on on transaction commission. Every single item you purchase with your smart card / GSM NFC phone could carry a commission and it would be very easy to impose.

Reillyman

Run_to_da_hills wrote: »

If (or when, as it is only a matter of time) before there is a one whole currency it will be cashless.

What the banksters loose out on currency trading they can gain again on on transaction commission. Every single item you purchase with your smart card / GSM NFC phone could carry a commission and it would be very easy to impose.

<facepalm>

If it's so profitable, why would the "banksters" want to form one currency?

Run_to_da_hills

Reillyman wrote: »

<facepalm>

If it's so profitable, why would the "banksters" want to form one currency?

Transparency.

squod

China, Russia quit dollar

What will we call this new currency?

My name is URL

- Introduction of a supra-national reserve currency to be issued by international financial institutions. It seems appropriate to consider the role of IMF in this process and to review the feasibility of and the need for measures to ensure the recognition of SDRs as a "supra-reserve" currency by the whole world community.

The obligation to diversify currency structure of the reserves and operations of national banks and international financial organizations should also be provided for.

In our view, it would be appropriate to submit the results of those studies to the Ministers of Finance and Presidents of the Central Banks of the G20 States with a view to define the most efficient additional steps to harmonize the existing national monetary policies and to implement an efficient reform of IMF.

We also believe that discussion of the elaborating harmonized rules of "clearing" transborder debts, including by way of coordinating the actions of countries "representing" creditors and debtors, can be launched as part of our action on countering financial protectionism.

http://archive.kremlin.ru/eng/text/docs/2009/03/213995.shtml

namloc1980

squod wrote: »

China, Russia quit dollar

What will we call this new currency?

That article says that China and Russia have moved from using a common currency for bilateral trade (the dollar) to using their own currencies (ruble and yuan). Care to explain how moving from a single currency to their own currencies for trade, is actually a move towards a single currency?

phantom_lord

Considering how many people feel the Euro project has failed, I doubt we'll be moving towards a world currency any time soon.

squod

namloc1980 wrote: »

That article says that China and Russia have moved from using a common currency for bilateral trade (the dollar) to using their own currencies (ruble and yuan). Care to explain how moving from a single currency to their own currencies for trade, is actually a move towards a single currency?

https://www.youtube.com/watch?v=nQFHgcFlrlw

Last 30seconds.

The U.S. dollar as a reserve currency era is now finished. People are looking to replace it with another (perhaps global) currency with some gold reserves behind it.

phantom_lord

Bjorn Bored. wrote: »

Seems we are heading that way,the euro on the verge of collapse,the dollar owned more by china than the US sterling borrowed up to the hilt, I am not normally buying into a lot of this stuff but it seems a plausible outcome that they will have to merge at some point. I wont quote the bible but its all there!

All the things you mentioned are reasons why they would not merge, not why they would.

enno99

squod wrote: »

China, Russia quit dollar

What will we call this new currency?

Well, the IMF report believes that the adoption of a true global currency administered by a global central bank is the answer.

The authors of the report believe that it would be ideal if the "Bancor" would immediately be used as currency by many nations throughout the world, but they also acknowledge that a more "realistic" approach would be for the "Bancor" to circulate alongside national currencies at first.

http://theeconomiccollapseblog.com/archives/bancor-the-name-of-the-global-currency-a-shocking-imf-report-urges-the-world-to-adopt


they seem to have that part sorted

old_aussie

cypharius wrote: »

No it's not. Trading currencies is still a way to make money. Also, there's more then two currencies in the world. Some economies using different currencies are still reasonably stable(Canada, Saudi Arabia, Japan, Australia, these countries are falling on hard times but they're still doing OK and definately have different currencies).

Since when is Australia falling on hard times, we're enjoying a boom.

Run_to_da_hills

phantom_lord wrote: »

Considering how many people feel the Euro project has failed, I doubt we'll be moving towards a world currency any time soon.

I believe all these "failures" are deliberate. they create a problem control the reaction with the media and then offer the obvious solution.

phantom_lord

Run_to_da_hills wrote: »

I believe all these "failures" are deliberate. they create a problem control the reaction with the media and then offer the obvious solution.

the most obvious solution is not a one world currency, quite the opposite.

fontanalis

So how many Zimbabwean Dollars would equal one unit of this new currency?