If the world uses a single currency - page 12.

Eijrafarm

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Quote from: bjjobg55206 on February 04, 2018, 03:48:21 AM

If the world uses a single currency, will the economy be more stable?
This is a very interesting question. The sovereign nations issue their own currencies and are taken for granted by many people, but few consider whether this is the economically optimal option.

In my opinion this is an impossible thing to happen. Every country has its own way for their economy. Adopting other currency is like an insult on their economic stand. Logically government will stand firm that if their is a change they would become first rate country with their own currency.

hibiscus

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Bitcoin is the first crypt o currency which can be operated world wide. Because of its certain positive features bitcoin can act as a global currency due to its wide popularity and acceptance. Bitcoins can be used as world single currency because most of the industrially developed countries are accepted bitcoin for their easy business transactions .So that the business community will be saving their processing time and money . Bitcoin is the most power full transaction media world wide.as a single currency.

Boromon

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I do not think this will happen because every country has its own policy and, one currency means one order,one policy, one government, so it is impossible to happen for the whole world to use one currency.

pou3197074235

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No, the economy will not become more stable.

Single currency in one country lose the independence of the exchange rate and monetary policy, the main cost, the single currency is the exchange rate and the loss of monetary policy independence, will greatly weaken the macroeconomic policy makers to cope with asymmetric shocks.

Neither the free flow of elements nor the centralized central finance are currently lacking among the countries of the world and cannot be owned. So if there is a genuine currency at present, the economy will undoubtedly become more unstable.

jaysabi

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Quote from: Hell-raiser on March 10, 2018, 10:05:40 AM

Quote from: jaysabi on March 08, 2018, 06:07:49 PM

Quote from: bjjobg55206 on February 04, 2018, 03:48:21 AM

If the world uses a single currency, will the economy be more stable?
This is a very interesting question. The sovereign nations issue their own currencies and are taken for granted by many people, but few consider whether this is the economically optimal option.

If more countries used a stable currency, they might have more stable economies, but I don't know that it would have an impact on the world economy. Take Venezuela for example. It's currently suffering rampant inflation that is wreaking havoc on the economy, mostly because the currency in use is worthless. If they were to use the USD, it would bring instant stability because the USD is much more widely accepted than the Bolivar. So it would bring confidence that whatever money you have isn't going to rapidly lose value if you don't spend it. That's not going to magically fix their broken economy, but it will help very much to keep it from worsening because the currency is unstable.

I cannot agree with this point. It will definitely help stabilize the currency circulation in the short term but I'm not sure if that won't make the economic situation there worse in the long run. And introducing a foreign currency as a legal tender, in this case the American dollar, will make the national economy more susceptible and vulnerable to external shocks. If anything, they might opt for the gold backing of the Bolivar as it happened in the Weimar republic when the local currency, the German mark, turned into complete trash in early 1920's.

In the face of hyperinflation, you better believe the people of Venezuela would trade the risk of external shocks to the nightmare they're living in currently. You may not agree with it, but we have independent evidence that replacing the Bolivar with the US dollar would stabilize the economy because it would bring economic confidence to the currency and the expectation that the currency means something. Hyperinflation is caused by a lack of confidence in the currency, caused and supported by rapid printing of it. Zimbabwe solved its hyperinflation problem by switching to stable foreign currencies, mainly the US dollar. https://en.wikipedia.org/wiki/Hyperinflation_in_Zimbabwe#Solutions There's good reason to expect doing the same thing in Venezuela would stabilize (but not magically fix) the economy.

semutracing

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Quote from: moneyangel on February 27, 2018, 10:46:27 AM

Quote from: bjjobg55206 on February 04, 2018, 03:48:21 AM

If the world uses a single currency, will the economy be more stable?
This is a very interesting question. The sovereign nations issue their own currencies and are taken for granted by many people, but few consider whether this is the economically optimal option.

This is far to be happen. Every countries has their own unique economic growth which is not applicable to others. If you will put a single currency of all country then where you want to be the basis...It's difficult because it will create chaos to the people.

It could be possible to have a single currency for international trade. If that happens maybe the economy can be stable if the whole world uses a single currency. But which currency will be used will always be the mutual competition from several countries to propose its currency into a single currency

nethan1btc

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Quote from: bjjobg55206 on February 04, 2018, 03:48:21 AM

If the world uses a single currency, will the economy be more stable?
This is a very interesting question. The sovereign nations issue their own currencies and are taken for granted by many people, but few consider whether this is the economically optimal option.

Actually, using single currency is impossible to happen which it needs to be discuss many sessions in order to unite on what is the best for each country. Well, on my opinion, it's so impossible to happen since fiat money is very important especially those ordinary stores or even super market. I also, in favor those establishments as the crypto currency as a mode of payments which makes easy, fast and reliable transaction that can be implemented to those establishment are willing to have this kind of transactions.

frankybutterin

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This is impossible to do because every country in the world has a different economic system exists that there is a liberal capitalist system there is a socialist. It will be difficult for the three economic systems to make one currency. And also every country has a per capita income the different will be difficult for low-income countries to follow high-income countries.

hnmpy222

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Digital currency is decentralized, which determines that it cannot have only one kind.

Buttermellow

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Let us intensify our campaign with cryptocurrency so that the world will embrace it and accept it and implement in a form that the world could use a digital currency. I could not tell that it would be a single currency but rather it could be 3 or more currency will be implemented as to cater the differences between the countries economic where some could not afford to buy especially bitcoin if it will be implemented in the near future consider its price is so high. So there should be a digital currency that has offered low price value so as to use it with every small transactions that would make it easier and could not complicated things in the transaction process. This is very interesting because the world might be change also with this kind of innovation.

Mr. 1412

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One single currency in the world. I think it is very difficult to realize, considering that each country has a different economic level. One currency in the world is lowering the level to the democratic government in various parts of the world.

zngit

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Possible one currency in the world. That will make everything traceable. Whatever you did that have a relation to crypto can be trace. In every moment people will increase its desire to gain more coin for the family and for the use in the future. Interesting to imagine on that day that will affect this idea.

Fitrilalala

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Of course it will be good indeed. But there is so many country that still selfish and using their own currency. Maybe it will happen if there is no diffrent between modern country and developing country so there is no exchange currency. But it effect there will no trader exchange and one option of investment also disappear. There is no keeping foreign currency it will only for saving money because the same currency

turagsoy123456

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Quote from: aklaika on February 04, 2018, 04:29:02 AM

Quote from: bjjobg55206 on February 04, 2018, 03:48:21 AM

If the world uses a single currency, will the economy be more stable?
This is a very interesting question. The sovereign nations issue their own currencies and are taken for granted by many people, but few consider whether this is the economically optimal option.

single currency I think its imposible
what about currency division in the world
its gonna become any nation race to hold more and more currency to make they only the one who hold that
its just my speculation if i wrong iam sorry i just try to answer the question

For me its impossible that the whole worlds agree about only one currency govern by the whole world. Because in every nations have many different types if currency. And how does really affects the economics in every nations. If this is really implemented we dont know how it really works so it is very broad.

Shutup

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Quote from: bjjobg55206 on February 04, 2018, 03:48:21 AM

If the world uses a single currency, will the economy be more stable?
This is a very interesting question. The sovereign nations issue their own currencies and are taken for granted by many people, but few consider whether this is the economically optimal option.

If the world uses a one currency it means the United Nations agree on it. So by that time I think we have a one world government. That have a one ruler to control the whole world. If bitcoin will be our currency to all over the world this will become powerful.As of now bitcoin is powerful to control the big countries entire the universe because it really helps a lot of rich people in the whole world for them to earn a million of cash.

bakekang008

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Quote from: bjjobg55206 on February 04, 2018, 03:48:21 AM

If the world uses a single currency, will the economy be more stable?
This is a very interesting question. The sovereign nations issue their own currencies and are taken for granted by many people, but few consider whether this is the economically optimal option.

For it will not gonna happen, because a lot of country against of it. If one currency to used around the world how about their economy, so for me more leaders will not allowed to used it. Because they protect their country also against hackers, and theft.

Hell-raiser

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Quote from: jaysabi on March 08, 2018, 06:07:49 PM

Quote from: bjjobg55206 on February 04, 2018, 03:48:21 AM

If the world uses a single currency, will the economy be more stable?
This is a very interesting question. The sovereign nations issue their own currencies and are taken for granted by many people, but few consider whether this is the economically optimal option.

If more countries used a stable currency, they might have more stable economies, but I don't know that it would have an impact on the world economy. Take Venezuela for example. It's currently suffering rampant inflation that is wreaking havoc on the economy, mostly because the currency in use is worthless. If they were to use the USD, it would bring instant stability because the USD is much more widely accepted than the Bolivar. So it would bring confidence that whatever money you have isn't going to rapidly lose value if you don't spend it. That's not going to magically fix their broken economy, but it will help very much to keep it from worsening because the currency is unstable.

I cannot agree with this point. It will definitely help stabilize the currency circulation in the short term but I'm not sure if that won't make the economic situation there worse in the long run. And introducing a foreign currency as a legal tender, in this case the American dollar, will make the national economy more susceptible and vulnerable to external shocks. If anything, they might opt for the gold backing of the Bolivar as it happened in the Weimar republic when the local currency, the German mark, turned into complete trash in early 1920's.

Falmera

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Quote from: secondgarlic on February 04, 2018, 05:36:41 AM

This will never happen, at least not in the world we live in right now. A country willingly letting go of its own currency means you are leaving your fiscal policy in the hands of another country; which, based on our current experience, is obviously impossible.

In the first place, why do different country have different currency? One of its purpose is for country's identity. So if one currency will be implemented each of the country's identity will be possibly not recognized. Aside from that each country has different economic status. If that happens, it may create chaos. Those with lower economic status will equate with those with higher status.

icecube45

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Quote from: becak mesin on March 08, 2018, 10:27:16 PM

I think it is gonna be happened. However, I want to give my idea if it is happen, it will have much impact for the economical side around the world. There will be certain countries are lose, and other are lucky.

Yes you are right, there are losing countries and some countries will be lucky. There will also be changes in the global game arena as countries such as China will no longer be able to capitalize on the exchange of currencies to cheapen their goods in the global market. And also caused by the use of such a system is the loss of a country's sovereignty to regulate its monetary conditions independently. The loss due to this currency system is certainly bigger than its profit, I think it will not happen.

Polipog

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It is hard to implement a single currency use only, because in different countries has also different level of economic status. That's why every currency were forms of different quality and their value. For example the U.S dollar value, it is more high compare to any other country, because United States of America has a higher level of economic income compare any places in the world. So, it is hard to use only one currency because of different growth of economic income.

Topic: If the world uses a single currency - page 12. (Read 1832 times)