A few days ago, I was thinking that perhaps the world needed a single global currency to help some of the economic problems. Well, lo and behold today I discovered that the president of Kazakhstan has also proposed such a currency! He even gave it a name - the acemetal. I was personally thinking along the lines of the euro. What do you think?
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I absolutely agree with you. Completely…
NO WAY…..folks wont believe this, but even the Euro’s day are numbered.
If you think this is nuts,consider that Eastern Europe, which had NOTHING 50 years ago, and not much moe 10 years ago, cn NOT support its home economies.The Euro is far out of their league….France already wants the Franc back. Just sit back and watch.
I agree with Joe.
Just yesterday I read a story on line about the financial problems in Italy and the possibility of those problems causing the collapse of the Euro.
Question: What happens with the worlds economies if the Euro collapses?
Better question: What happens if the US Dollar collapses? Secretary of State Clinton was just in Bejing begging the Chinse government to keep buying more US debt. China already holds one trillion dollars of US federal/state/local government bonds.
Buy GOLD!!!
Definitely not the euro; France and Germany are already holding up the weaker countries; Ireland/Greece and maybe Italy are already in trouble. March 15th Sunday Times gave a good explanation of the troubles of the euro.
A Global currency is a great idea. The problem is deciding what it should be, as the previous comments indicate.
Everybody seemed to accept gold because everybody semed to understand what it was and how it worked. Eventually that got to difficult for all sorts of reasons, so we now don’t have a gold standard.
Gold would be a good monetary standard, except there is not enough of it.
The only other commodity that has any real stable future, if speculators are kept out of the way, is OIL.
???
Mining gold harms the environment. The current issue of “Mother Jones” magazine (the article about Senator Harry Reid’s favoritism toward the Nevada mining industry) says (if I recall right), 20 tons of waste are produced to get enough gold for one average wedding ring.
You don’t understand global economics then.
Currency fluctuations, while negative in the short term, are necessary to signal the strength of a country’s productivity.
A global currency will also drive many countries to accumulate as much of the currency as possible… hoarding…
A global currency will not improve global trade, which is exactly what we need to boost in order to get out of this rut. It wasn’t the new deal that ended the Depression. It wasn’t World War 2.
It was the creation of the IMF which created currency exchanges that enabled massive levels of global trade.
China wants a universal currency because they will automatically have the most money to start…