"What's wrong with a world currency?!"

[TheBlackPeterSchiff]

This is what a friend of mine asked me the other day when were talking about the NWO, G20, etc.

I was saying how they are trying to move us to a single currency in the world, and he said whats wrong with that. His reasoning was that there would be no currency manipulation like with China and the U.S. And it could be backed by gold or a basket of commodities...to restrain a world government from printing. I say free us all from nationalized currency and lets have competing currencies. But I couldnt come up with a counter argument to what he was saying.

How bad would it be to have 1 world currency?

 

[CasualApathy]

Well if all nations agreed on a voluntary one world currency I dont see why that would be bad at all.

 

[hugolp]

Coordinated bubbles all over the place. And then coordinated busts.

 

[InPaulWeTrust]

Well if all nations agreed on a voluntary one world currency I dont see why that would be bad at all.

There is nothing wrong with the world market agreeing on one single exchange medium (Gold, Silver, etc.). There is something wrong with national governments consolidating fiduciary media into a supranational currency. One Central Bank to oversee this would be set into place. Nothing good would come out of this.

Privatize currency and let the market pick its favorite one. Demand will decide, not men in suits.

 

[dannno]

Well if all nations agreed on a voluntary one world currency I dont see why that would be bad at all.

Nothing wrong with this in theory, as long as it is not mandated and competing currencies are ALSO allowed. That would help restrain the world currency.. though if a world currency were created, and at first it was not mandated, I would be scared that they would eventually try to mandate it and not allow competing currencies.

 

[Uriel999]

There are already is a major world currency that has been accepted for thousands of centuries. It is called gold.

 

[tmosley]

If anyone has the ability to print this one world currency, they can steal 100% of the wealth of the world, and do it legally.

If it were backed by gold, but not exchangeable, it wouldn't be backed by gold for long. If it were backed by gold AND exchangeable, that would be ok, until they suspended redemptions by the general public.

It's better not to have a formal currency at all, and just let people trade the metal, or their own checks drawn on gold deposits.

 

[noxagol]

We used to have a one world currency, gold. All currencies were simply different set amounts of gold.

The problem with a one world currency we would end up with today, is that it would be a fiat one world currency, and there would be world wide boom and busts.

A single currency world wide is actually very beneficial since it will make trade more liquid.