I think one of the biggest benefits of a single global currency, would be that all strong first world countries will support the countries with a weaker economy. The down side is that the countries with the weaker economy, will pull down the countries with the stronger economies.
Zimbabwe had hyper inflation for a long time and their local economy and the value of their Fiat currency failed, but they just switched to the use of stronger currencies to protect the value of their wealth.
Topic: The benefit of using one currency all over the world. - page 2. (Read 186 times)
The act of using one currency in the world mean's that every country in the world uses the same currency.
The use of a global currency will be the starting point of eliminating suffering in the world.
All nations would certainly benefit since there would no longer be currency risk in international trade. Traders would no longer fear for currency fluctuations.
Economically developing nations would also benefit base on the introduction of a stable currency, which would form a base for future economic development. For example, Zimbabwe suffered through one of the worst hyperinflation crises in history. The Zimbabwean dollar had to be replaced in April 2009 by foreign currencies, including the U.S. dollar.
It has gotten to a point in life where global currency is now needed in the world in other to end constant inflation and suffering in different countries.
When there is one generally accepted currency in the world, inflation and poverty will no longer be one country fight but a world fight.
The use of a global currency will be the starting point of eliminating suffering in the world.
All nations would certainly benefit since there would no longer be currency risk in international trade. Traders would no longer fear for currency fluctuations.
Economically developing nations would also benefit base on the introduction of a stable currency, which would form a base for future economic development. For example, Zimbabwe suffered through one of the worst hyperinflation crises in history. The Zimbabwean dollar had to be replaced in April 2009 by foreign currencies, including the U.S. dollar.
It has gotten to a point in life where global currency is now needed in the world in other to end constant inflation and suffering in different countries.
When there is one generally accepted currency in the world, inflation and poverty will no longer be one country fight but a world fight.
As long as that one currency is controlled by a single entity, the sufferings won't end. Having a single currency controlled by a single entity, is not going to solve wealth distribution inequality issue. That won't solve why the poor are getting poorer and why the riches are getting richer. Unless that one currency is truly decentralized, there's no end to the sufferings.
No country is going to take responsibility of the poverty of another country. Europe tried to do that and UK stepped out saying they won't take the burden of debt of other countries. World is a cruel place. Countries like US, UK, China, Russia will always try to control the power they already own.
All nations would certainly benefit since there would no longer be currency risk in international trade. Traders would no longer fear for currency fluctuations.
If everyone is using the same currency, it would still change its value, because nothing can be stable on the free market, the whole point of free market is that prices change freely to reflect the objective value. Even if there's no other currency, this world currency will be benchmarked against common comoodities like oil or hamburgers.
Also, the USD is already a world currency, it's used for a large share of international trade and you can exchange it in every country in the world, and often can even pay with it outside of the USA.
Economically developing nations would also benefit base on the introduction of a stable currency, which would form a base for future economic development.
Like USDT and USDC? They are just like fiat.It has gotten to a point in life where global currency is now needed in the world in other to end constant inflation and suffering in different countries.
When there is one generally accepted currency in the world, inflation and poverty will no longer be one country fight but a world fight.
Do you not know inflation has benefit also as it has disadvantages? It will be good if crypto and fiat exist together and that is what is happening.When there is one generally accepted currency in the world, inflation and poverty will no longer be one country fight but a world fight.
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Accurately it means they both function predominantly to balance and normalize the frequent and unsuitable activities and occur in the world as we see it.
We can only use and share a particular currency when every nation or country decides to comply and cooperate as it should,Every country has her plans,decisions and policies to administer to all the time,and not while the BRICS is already in the picture.We all know the events that has transpired between the BRICS nation and USD.
Different currencies,because different countries aim differently and have different economical landscape that's beneficial and significant.
Hey from my point there is no reason for keeping one currency in the world like how does it sound or looks like. If you must talk of using one currency have you also talks about their state of development? I think this would be the last thing to happen, why because automatically you want to shut down everything, no trade no exchange of currencies and whatever and yet we can't be guaranteed that there will be no poverty in the world.
The act of using one currency in the world mean's that every country in the world uses the same currency.
The use of a global currency will be the starting point of eliminating suffering in the world.
All nations would certainly benefit since there would no longer be currency risk in international trade. Traders would no longer fear for currency fluctuations.
Economically developing nations would also benefit base on the introduction of a stable currency, which would form a base for future economic development. For example, Zimbabwe suffered through one of the worst hyperinflation crises in history. The Zimbabwean dollar had to be replaced in April 2009 by foreign currencies, including the U.S. dollar.
It has gotten to a point in life where global currency is now needed in the world in other to end constant inflation and suffering in different countries.
When there is one generally accepted currency in the world, inflation and poverty will no longer be one country fight but a world fight.
The use of a global currency will be the starting point of eliminating suffering in the world.
All nations would certainly benefit since there would no longer be currency risk in international trade. Traders would no longer fear for currency fluctuations.
Economically developing nations would also benefit base on the introduction of a stable currency, which would form a base for future economic development. For example, Zimbabwe suffered through one of the worst hyperinflation crises in history. The Zimbabwean dollar had to be replaced in April 2009 by foreign currencies, including the U.S. dollar.
It has gotten to a point in life where global currency is now needed in the world in other to end constant inflation and suffering in different countries.
When there is one generally accepted currency in the world, inflation and poverty will no longer be one country fight but a world fight.
It is very easy to discuss a single global currency for the whole world, especially if you use someone else's text and thoughts. Please specify the source from where you took the text for your post to avoid being banned for plagiarism.
The use of a global currency will be the starting point of eliminating suffering in the world.
Still far from the starting point of eliminating suffering in IMO, One currency usage has advantages, but still has it disadvantages and one majorly being Quote
Loss of monetary policy: If the whole world used one currency, there would be no way for individual countries to control their own monetary policy. This would make it difficult for countries to respond to economic shocks or to achieve their own economic goals.
source
The world will get there someday, and maybe by then the loss of monetary policy will no longer be an issue.
Not 100% of my mind accepts that implementing one currency for all countries will eliminate suffering. Every country has policies and strengths. Apart from policies and power, each country has different problems.
If we try to generalize every problem faced by every country in the economic sector, it seems that using the same currency for every country in the world will not be able to answer this problem. It could be that every country will lose the power and policies to solve the most basic problems in every country, such as economic and menoterial problems.
This article supports my thoughts and is also a reference for why one currency will not succeed in eradicating suffering.
I appreciate your thoughts about using one currency for all countries, but I think it will not be able to avoid all problems because rich and poor, good and bad will be an inseparable pair.
If we try to generalize every problem faced by every country in the economic sector, it seems that using the same currency for every country in the world will not be able to answer this problem. It could be that every country will lose the power and policies to solve the most basic problems in every country, such as economic and menoterial problems.
This article supports my thoughts and is also a reference for why one currency will not succeed in eradicating suffering.
I appreciate your thoughts about using one currency for all countries, but I think it will not be able to avoid all problems because rich and poor, good and bad will be an inseparable pair.
When there is one generally accepted currency in the world, inflation and poverty will no longer be one country fight but a world fight.
A single currency is not a guarantee that poverty or inequality will end globally. If this was the case every European nation which uses the EU would have been rich like Germany, England and France. But we have European countries like Greece that are going through a lot of economic problems. Poor nations will still remain poor even with a single currency policy. There are many nations which have adopted dollars as their currency, yet they are still not as prosperous as the US.
Having a single currency will only be possible if all the nations of the world are under one political arrangement. The Euro is used by many nations because they are united under a political organization called the European Union. It will be ve difficult to bring many nations under one political setup considering the level of confrontation or antagonistic position that exists between nations. An example is the proposed BRICS currency that has not materialized because each nation has a personal agenda.
It is noteworthy to state that each country has different economic conditions which require particular policies. A single currency might not allow nations to make economic decisions that suit their economic conditions. Economic policies of developing nations might not suit a single currency.
A single currency I not the solution to poverty because rich nations will still have more of the currency while poor nations will have less. Which means the imbalance or inequality will still persist.
The use of a global currency will be the starting point of eliminating suffering in the world.
If there are poor people, there will still be suffering. The existence of the rich people means poor people will exist also. People can not be equal. That is how the world was created. Even rich people can suffer from diseases which is still suffering.Economically developing nations would also benefit base on the introduction of a stable currency, which would form a base for future economic development.
Like USDT and USDC? They are just like fiat.It has gotten to a point in life where global currency is now needed in the world in other to end constant inflation and suffering in different countries.
When there is one generally accepted currency in the world, inflation and poverty will no longer be one country fight but a world fight.
Do you not know inflation has benefit also as it has disadvantages? It will be good if crypto and fiat exist together and that is what is happening. When there is one generally accepted currency in the world, inflation and poverty will no longer be one country fight but a world fight.
The act of using one currency in the world mean's that every country in the world uses the same currency.
The use of a global currency will be the starting point of eliminating suffering in the world.
All nations would certainly benefit since there would no longer be currency risk in international trade. Traders would no longer fear for currency fluctuations.
Economically developing nations would also benefit base on the introduction of a stable currency, which would form a base for future economic development. For example, Zimbabwe suffered through one of the worst hyperinflation crises in history. The Zimbabwean dollar had to be replaced in April 2009 by foreign currencies, including the U.S. dollar.
It has gotten to a point in life where global currency is now needed in the world in other to end constant inflation and suffering in different countries.
When there is one generally accepted currency in the world, inflation and poverty will no longer be one country fight but a world fight.
The use of a global currency will be the starting point of eliminating suffering in the world.
All nations would certainly benefit since there would no longer be currency risk in international trade. Traders would no longer fear for currency fluctuations.
Economically developing nations would also benefit base on the introduction of a stable currency, which would form a base for future economic development. For example, Zimbabwe suffered through one of the worst hyperinflation crises in history. The Zimbabwean dollar had to be replaced in April 2009 by foreign currencies, including the U.S. dollar.
It has gotten to a point in life where global currency is now needed in the world in other to end constant inflation and suffering in different countries.
When there is one generally accepted currency in the world, inflation and poverty will no longer be one country fight but a world fight.
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