I am pretty sure no government will want to let this happen due to it's complex future and regulations. They have to save their assets from being monopoly gamed.
Topic: What will happen if we use a one currency only? - page 34. (Read 19529 times)
It's really hard to state the consequences. Because there might be positive or negative side both. I guessing it would result in negativity due to complex domination of countries. Many countries are leading entity currently because of their currency. Your currency is gives power to your nation, it's property, it's military forces and protects borders from enemies. Yes! that is what money do. Countries with less of this always get dominated. There are many examples you can see in today's world. If you introduce one currency in the world then there will be first and last world war on the topic "Who will regulate that currency"?
I am pretty sure no government will want to let this happen due to it's complex future and regulations. They have to save their assets from being monopoly gamed.
I am pretty sure no government will want to let this happen due to it's complex future and regulations. They have to save their assets from being monopoly gamed.
That looks good because if a single currency is just used to be quite difficult for others and they don't need to exchange currency for another before they have buy there needs. And will be good for everyone because sometimes you need a change of dollars just to have use to other countries.
one currency only is impossible. a good example is what nowadays is happening with btc price dumping and most of the top 100 alt coins are gaining value. people will ever want their choice.
[Edited to make it more understandable question]
What if all nation use only a one currency or one global currency?, What will happen to our world?, What is the effect of every nation's or every country economy?, It can make people's unite each other?Any opinion.
If all nation use only one currency, it means people around the world are united in one system. Meaning, if this currency is bitcoin the main currency all paper money are not useful anymore, and many people's too are not poor I think and the economy is also level up. And its true people each other are being unite. What if all nation use only a one currency or one global currency?, What will happen to our world?, What is the effect of every nation's or every country economy?, It can make people's unite each other?Any opinion.
It's not good. If we have only one currency on the world the greedy people will want to control it even more, there is a profecy which says when the new mundial order control the world there will be only one currency controlled by them. I believe Bitcoin is at this point the antagonic currency to the new mundial order wishes. And it's good how it is now, many currencies, many possibilities to the individual chooses.
Currently all the currencies are controlled by some hand, but if we all have one currency then everything would be fine, I mean look at people back when they used gold to buy and sell stuff things were fine you could go anywhere in the world and buy things with the same currency, but look at it now the world is constantly in war.
It's not good. If we have only one currency on the world the greedy people will want to control it even more, there is a profecy which says when the new mundial order control the world there will be only one currency controlled by them. I believe Bitcoin is at this point the antagonic currency to the new mundial order wishes. And it's good how it is now, many currencies, many possibilities to the individual chooses.
I think such a condition is not possible even in future.Such a system now exists only in UAE which use Dirhams and European union which uses Euro.A country prints its currencies based on the value of gold it has in reserve and i dont know how all countries would agree to have a single currency.
It seems to me that now there is no gold provision of currency. I do not know how the national currency is supported, but definitely not gold.
Ideas of a single currency existed for a long time, but all of them did not translate into reality
[Edited to make it more understandable question]
What if all nation use only a one currency or one global currency?, What will happen to our world?, What is the effect of every nation's or every country economy?, It can make people's unite each other?Any opinion.
If that happen many of the bitcoin holders will become happy and for sure the value of bitcoin is definitely reach the peak high price value. And there is a possibility that people around the world unite each other. What if all nation use only a one currency or one global currency?, What will happen to our world?, What is the effect of every nation's or every country economy?, It can make people's unite each other?Any opinion.
The economic balance will turn seesaw, rich countries on heavier side and poors flying above on other side. With same value across the globe, poor countries will unable to access resources as richer do. Will lead to huge economic disturbance and widened gap between rich and poor.
Every country have their economy challenge so it's impossible to happen.
Let say if this happen then there will be massive demand for some object let say , laborghini demand will increased 10000% since they able to earn same value just like other country has. If this keep happen than the resource will be vanish more faster than we expected
Let say if this happen then there will be massive demand for some object let say , laborghini demand will increased 10000% since they able to earn same value just like other country has. If this keep happen than the resource will be vanish more faster than we expected
Indeed, a lot of coutries are intresteon on their own currency and don't wonna allow people to use any other fiat money, not even digital currencies. I think if that will happend it's really hard to say what kind of a price would be that currency. But a lot of currencies are dependent on other ones this which are more reliable and stable on current substantial
if there is only one currency, than it had to bear the burden of many under-developed economies (and also of some financially defaulted countries like Greece). Hence, the value of that currency would be highly undermined in terms of the performance of those economies which are struggling hard to maintain their status while the same value will be highly overestimated in case of those governments who are just sitting on the couch to gain their salary.
Moreover, a single currency status would be harmful for the markets as well because the Whole gamut of Foreign Exchange (the highest financial market with nearby $5 trillion volume a DAY) will be vanished. The same would also affect some parts of the economy as it would nullify the need of financial sector employees and would generate huge Unemployment.
To sum up, in order to have different delicacies in global environment, generating capacity to pay the hard-workers and punish the weaker economies, together with giving rise to need of Smart Employees, it is better to avoid thinking of single currency.
Moreover, a single currency status would be harmful for the markets as well because the Whole gamut of Foreign Exchange (the highest financial market with nearby $5 trillion volume a DAY) will be vanished. The same would also affect some parts of the economy as it would nullify the need of financial sector employees and would generate huge Unemployment.
To sum up, in order to have different delicacies in global environment, generating capacity to pay the hard-workers and punish the weaker economies, together with giving rise to need of Smart Employees, it is better to avoid thinking of single currency.
Quite possible. Only the difference in the standard of living in different countries prevents the introduction of a full-fledged single currency. The economic situation in some countries may suffer greatly. The world government has other plans for the account of finance.
Many countries rely on fiat to establish grounds between one another. Although US Dollar is used as standard rate in many second and third world nations it doesn't take over the exclusiveness of any country except America (it's originator.) Although cryptocurrencies remain prominent digitally, the demand is too large for what is offered by them. No matter how big BTC + altcoins are they serve as secondary currencies instead due to the creativity in its economy plus because of the reliance it has on fiat exchange. Despite cryptocurrencies having a developed economy on their own they lack a dominant structure or party to control it.
Many of the causes of unrest in the world today are the result of unbalanced economic and social development
If monetary unity is reached, the imbalance can be solved to a certain extent.
I think it is conducive to social progress
But many liberals will stand up against it.
I do not know about the economy too much detail, but only use one currency only course that would undermine the diversity of the earth, if all countries have the same currency, why they did not make a single country in the world? If monetary unity is reached, the imbalance can be solved to a certain extent.
I think it is conducive to social progress
But many liberals will stand up against it.
Many of the causes of unrest in the world today are the result of unbalanced economic and social development
If monetary unity is reached, the imbalance can be solved to a certain extent.
I think it is conducive to social progress
But many liberals will stand up against it.
If monetary unity is reached, the imbalance can be solved to a certain extent.
I think it is conducive to social progress
But many liberals will stand up against it.
If we use one currency then it means we have one world government or we have not government at all. Then we will have single standards for all. More unification, more efficiency, more transparency - keys to common wealth.
But also every person should have to have opportunity to issue his own assets for exchange.
But also every person should have to have opportunity to issue his own assets for exchange.
There are many countries that use the same currency, it doesn't mean that every country has it own currency but there are lots of them that use the same currency and for some of them is good for some not that's why are invented many other currencies, to fits their needs and people earning from trading.
Many other currencies invented by local elites. If they would use same currencie as whole world - they lose control over their country populace(slaves). Elites control money emission and always can make more money for themselves. Their currencies solve only problem of small community of people who controls authority.
The currencies are not going to be reduced but they are going to be multiplied every year and this year I think was the year of altcoins with their ico and other strategies and saying the truth it was successful and we can't expect only one currency/coin to be used by all.
The question of OP is like he asks what will be done if there is only one government and only a state around the world. Countries all over the world want to dominate in earth. I believe that knowing what is happening globally this is a situation maybe never happened and I see it as utopia.
If you know recent history then you know we the people of most modern world countries had one currency system shared as late as 1970. After Nixon the world lost a common link to gold via the dollar and so we have all varied in our currencies and floated various exchange rates and politics since then.
I guess its not recognised the world currency was gold till at least the lifetime of your parents if not your own. The Swiss used gold still till a decade or so ago. What will happen is what already happened in 1970 and prior
https://en.wikipedia.org/wiki/Bretton_Woods_system
I guess its not recognised the world currency was gold till at least the lifetime of your parents if not your own. The Swiss used gold still till a decade or so ago. What will happen is what already happened in 1970 and prior
https://en.wikipedia.org/wiki/Bretton_Woods_system
Good currency, this simple truth of course. Economics layman can see. Reduce transaction costs, reduce exchange rate volatility risk, promote trade, increase competition...... Wait。
But even without taking into account the political viability of the same currency will also have a cost, which is not everyone can recognize the. A unified currency led to the independence of a country out of the exchange rate and monetary policy in fact, most of the time after the establishment in the euro zone, capital is from Germany and other European core region, to Greece, Spain and other relatively underdeveloped regions of flow.
But even without taking into account the political viability of the same currency will also have a cost, which is not everyone can recognize the. A unified currency led to the independence of a country out of the exchange rate and monetary policy in fact, most of the time after the establishment in the euro zone, capital is from Germany and other European core region, to Greece, Spain and other relatively underdeveloped regions of flow.
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