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Author Topic: Global Currency?  (Read 2163 times)
Dphins4me
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« on: October 11, 2008, 10:06:50 am »
   With the crash & all the nations working together to get it together, is this the start of a global currency?
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YoFuggedaboutit
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« Reply #1 on: October 11, 2008, 10:22:47 am »
Good question.  I think the start of Global Currency began with the introduction of the Euro. 
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Dave Gray
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« Reply #2 on: October 11, 2008, 10:24:20 am »
I've never thought about it.  Is it feasible?  What would be the advantages and disadvantages?
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YoFuggedaboutit
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« Reply #3 on: October 11, 2008, 10:26:46 am »
Quote from: Dave Gray on October 11, 2008, 10:24:20 am
I've never thought about it.  Is it feasible?  What would be the advantages and disadvantages?

One advantage is that you would not have to change your money every time you visited another country.  However a big disadvantage is that it would be harder to track suspected terrorists as they too would not have to change their money as they went in and out of different countries.
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MaineDolFan
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« Reply #4 on: October 11, 2008, 10:50:46 am »
Terrible idea.  Generally one nation suffers a recession and it's tempered by other nation's economic strength.  This is just a perfect storm.  If you tie everyone to the same boat you all drown if it sinks.  The Euro works due to the fact that you can walk from Spain to France (okay, not really, but it's like me driving to Boston).
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fyo
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« Reply #5 on: October 11, 2008, 08:03:02 pm »
A global currency would remove some "overhead" expenses for large corporations, but they already insure themselves against fluctuations in currency.

I'm not thrilled with the idea of "monocultures". It's like having only one huge company in some industry. If that one company falters, the damage is catastrophically worse than if there were multiple companies.

Other than that vague (but strong) distrust, I have to admit that my understanding of global economics just isn't good enough to offer a credible opinion.
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MyGodWearsAHoodie
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« Reply #6 on: October 11, 2008, 08:09:52 pm »
There already is a global currency -- the US dollar.  The Euro is a distant second but also important.

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