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A single international currency

Discussion in 'Off-Topic' started by piff, Jul 1, 2005.

  1. piff

    piff IncGamers Member

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    A single international currency

    Yesterday I was painting and trying to think about stuff to keep me busy. One thing I thought of was an international currency. Now I'm sure it's not a great idea because it hasn't been done, aside form what the EU has done. But why is it not a good idea? I know little about economics, so what do you more econmically-educated people think about his subject?
     
  2. {KOW}Spazed

    {KOW}Spazed Banned

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    Why would it be good? Who would decide the value/what would it be based on? Would that value ever change? The value of everything in the world changes on a daily basis, so how would we maintain a stable system? What language would it be minted/printed in? Where would it be minted/printed? How would it be transitioned in? What would you do with countries who don't join?
     
  3. Freezing Rain

    Freezing Rain IncGamers Member

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    If there was one international currency, people would have to charge FAIR PRICES?!?!?!!
     
  4. {KOW}Spazed

    {KOW}Spazed Banned

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    Why? If my price is just under what you can get in europe+shipping costs then it would still benefit you to buy from me.

    Outside of that it would be exactly the same as it is now and to an extent it already is.
     
  5. Madness

    Madness IncGamers Member

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    I think it's a bad idea.

    I think the Euro is bad idea. All it did is make Europe a hundred times more expensive. :mad:
     
  6. DaviddeJong

    DaviddeJong IncGamers Member

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    I think the idea itself is great! It would save firms a lot of money, since there wouldn't be any exchange-costs anymore. So, it would be much more efficient than the hundreds of currencies we now have in the world.

    The problem (if the system was eventually implemented) would be that all member-countries must agree on the volume of the currency that's being supplied. Even the EMU-countries disagree frequently on the money-amount and the desirable rate of inflation. It would leave no room for national monetary policy.

    So...... no way will it ever happen, but it's a fun thought.

    How should we call this currency? The Globo?

    David.
     
  7. Beowulf

    Beowulf IncGamers Member

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    It would be much to hard to implement. Look and how hard and long it was to get the Euro going and people still ***** about it. In France they use the Euro but on their receipts you will still find a conversion in Francs for people to better understand. Also who would control the value? World bank? The US? European Union? Who would print it? To many questions at this point imo.
     

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