Thursday, September 13, 2007

One World Currency and Why it Matters

Many world economists see a time in the not so distant future when National Currencies are merged into one or a few. It makes sense considering the massive electronic flows of the money. Of course some nations are very concerned with this as no one wants to be on the losing end of the stick and get trapped with mass devaluation or hyper inflation after the switch-over.
When talking about One World Currency or the move closer towards that there are many things to consider indeed. Sure that makes sense eventually to have only a few or one currency in the long-term. For instance; maybe an Asian Dollar, Euro w/Australia/Japan/England joining in, US Dollar used throughout Western Hemisphere, Middle East-African Dollar. Then merge either Asian Currency with Euro or US with Asia, then when you have 3 merge them to one. Have supercomputers monitor the flow of money to insure stability?
This would be the best for humanity in the long run, although there are issues with a Global Currency Collapse in that case right? An "Earth Unit" or "Dollar" would make long-term sense. Earth Unit might even be better and more stable for an Earth Citizen, it also crosses cultural divides of what types of things people value. What are your thoughts on One-World Currency?
These are very tricky discussions when it comes to a nation's currency, as everyone wants control. However, with World Trade things are moving faster and closer together and the debt on the currency needs to be set to the flow of the currency and not specifically to the nation borrowing the money.
Otherwise we will have continuous mini-economic collapses of emerging nations and currency crashes of first world nations. That does not serve the people or the bankers and certainly adds to the changes of civilization collapse. In reality no one wishes to discuss this, but in the future something must be done to shore up the risks being created in the present period, abstractly thinking of course.
L. Winslow is a Economic Advisor to the Online Think Tank, a Futurist and retired entreprenuer. Currently he is planning a bicycle ride across the US to raise money for charity and is sponsored by http://www.calling-plans.com/ and all the proceeds will go to various charities who sign up.

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