If the world uses a single currency - page 26.

Bitmous

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Quote from: bjjobg55206 on February 04, 2018, 02:48:21 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.

All countries would go bankrupt and a huge war will start.

Governments can run because they can print money (or through a system of banks).
If they can't print money anymore. roads, hospitals, schools, police, army would all be gone. resulting in a state of anarchy. I am not saying this is good or bad but it will not be peace.

The largest part of that single currency will end up with the elite while governments have no control at all (because they don't exist anymore).

Unless someone finds an algorithm that gives governments the capability to create that single currency to the amount that is inline with their countries economical performance, trusting any other country. basically the question would be, would you trust the leader of North Korea with printing your money?

secondgarlic

member

Activity: 112

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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.

Dluretic

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If the world USES a single currency, how do you price it?
This is a good question. If bitcoin is used as a single currency, but because the price of bitcoin has a lot of volatility and is not suitable for currency, I am thinking. Huh

Ada567

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Such a world economic system may be chaos. Not every country has the same economic capacity. If the exchange rate is the same, the price may be a pressure on people in poor areas and not conducive to promoting economic development.

fishball

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Activity: 336

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Quote from: bjjobg55206 on February 04, 2018, 02:48:21 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.

I think yes. There will be no problem when it comes to different transactions which involve money. All countries will surely benefit from it.

onnz423

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I believe on the whole it will make the economies of each country stable, however I doubt the governments want that, as it prevents them from profiting from the countries undergoing hyperinflation such as Venezuela and Zimbabwe.

However, there would still be regional differences in the agreed value of bitcoin, due to differences in local supply, exports, manufacturing, corruption and crime rates etc. This is similar to how there are different bitcoin values on the different exchanges.

hashcoinusa

member

Activity: 342

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Single currency like Bitcoin can be ideal way for the cross border travels and transactions. Europe has single currency. Does make sense for the world.

frery

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Activity: 147

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I think this situation does not exist. Each country has a different economy and development. If the world uses a single currency, it will lead to a stronger and powerful country with weaker and weaker countries. Taxation in each country will also be different. If all countries use the same currency, the world will be chaos.

cosmoo

hero member

Activity: 729

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Quote from: bjjobg55206 on February 04, 2018, 02:48:21 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.

I don't think so. Some countries and nations need their own currency. As an example: Poland. They are members of European Union, but they left the national currency, not switched to the euro. And they have better economy than Lithuania for example. Products in Poland is much cheaper.

KevinHD

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Activity: 232

Merit: 11

If the world will use a single fiat or cryptocurrency, the econom wouldnt chnge at all. Economy rises on how productive a country is. Whether we use the same currency, that doesnt affect the growth of economy. Its just like an agreement that we do hve same currency yet our country's distribution wouldntbe the same.

hgkcoin

member

Activity: 112

Merit: 11

If the same currency, then the game will certainly be beneficial. Reduce a lot of unnecessary costs, will be a lot more money to invest in other projects.

aklaika

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Quote from: bjjobg55206 on February 04, 2018, 02:48:21 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

lucario21

jr. member

Activity: 146

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I don't think it would stabilized the economy of some third rate country that had slow economical growth especially on Asia and Africa were their primary sources of income are agricultural products. Whose investor wants to pay 1000 usd per employee?

feny.blackpink

newbie

Activity: 196

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i dont know, i think the world use single currency is not gonna be happened.
because the countries around the world has their variety of incomes.

buinchain

member

Activity: 99

Merit: 10

The reunification of the currency is certainly good, but this is hard to come by because it means that all countries on earth have an alliance or just one country left, just like the EU. The former approach is basically impossible because countries have different views Different habits, and then one, for the time being, every nation has such abilities.

bjjobg55206

full member

Activity: 238

Merit: 100

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.

Topic: If the world uses a single currency - page 26. (Read 1836 times)