Topic: What will happen if we use a one currency only? - page 41. (Read 19529 times)
Different countries have different rules in terms of taxes and economy and hence there would need to be an agreement between each country with regards to the division and the taxation which would be practically impossible. As of now, only USD is considered the global currency and it's rate defines the rates of other currencies but if we start using only one, the forex market would shut down completely and would instead be a risk as to which country would control the currency. It's like having only one Government for all countries.
It will create a huge disaster. You can use the same currency in the whole world so you don't have to change it every time in another currency, but the price of that currency will fall down and it can make new wars about whom will control the currency. I think it's better each country has different currencies because first it will makes it different from another( I mean that each country will have their own ''personality''), and also will make the people understand that they can make their currency more important for the world.
I don't think that it is possible to implement the idea of a single fiat currency. So many questions will arise. Who is going to print this money? Who can sell treasury bonds denominated in this currency?
Fiat currency is another way of finding out how good the economy of a country is. If their currency went from 1 unit = 0.05$ to 1 unit = 0.15$, then that's a huge improvement for their country. They tripled the value of their currency. Currency is also another way of the government to control us. Once there's only one currency, then that means that the whole world is ruled by one government and the presidents of different countries are below them.
I don't think that this will happen at all because there will always be a country that will refuse to the idea. The whole world will have to use resources for the printing of the new currency and the previous currency will just go to waste.
I don't think that this will happen at all because there will always be a country that will refuse to the idea. The whole world will have to use resources for the printing of the new currency and the previous currency will just go to waste.
What about a descentralized currency? So no single government will have the control
So what about create more fiat currencys? For example 1 for each state of an country?
Fiat currency is another way of finding out how good the economy of a country is. If their currency went from 1 unit = 0.05$ to 1 unit = 0.15$, then that's a huge improvement for their country. They tripled the value of their currency. Currency is also another way of the government to control us. Once there's only one currency, then that means that the whole world is ruled by one government and the presidents of different countries are below them.
I don't think that this will happen at all because there will always be a country that will refuse to the idea. The whole world will have to use resources for the printing of the new currency and the previous currency will just go to waste.
I don't think that this will happen at all because there will always be a country that will refuse to the idea. The whole world will have to use resources for the printing of the new currency and the previous currency will just go to waste.
This idea was embodied in the EU. when on the territory of several countries, one currency is introduced.
Oneness will be always good in my humble opinion. Because, the differences makes conflicts and difficulties. When we are having a single government in this world there will not be any need of any restrictions and there will not be any chances of war too.
If there will be only one currency to use, I believe that will be solving many financial problems, but practically it will not be possible across different continent countries.
We, the people may bring that revolution by adopting bitcoins.
Theoretically - yes, practically - see this does not turn out to do. Bitcoin is a currency alternative, and not all of her trust. People like paper money.
One question: who will be in charge of that global currency? Are we even talking about old school FIAT system here?
Introduction of global FIAT currency means that countries will lose the way to manage their own currency.
In case of some local economic crisis something like lowering interest rates and increase the money supply to stimulate economic growth would be impossible.
That's the thing and I think it will be impossible to happen as even countries in the this world has no unity.. That would only be good if we have the same interest and we all follow on golden rule, it's like God ruling the world under that scenario and not even all of us here believes in God. Introduction of global FIAT currency means that countries will lose the way to manage their own currency.
In case of some local economic crisis something like lowering interest rates and increase the money supply to stimulate economic growth would be impossible.
[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 we will use only one currency then tge opportunity of increase our business whole about the world will be easy because of the reason of direct deal without foreign currency problems .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.
but a bad thing in this sense will be that , we will not able to make trade with multiple currencies .
When all of us begin to us only one currency, I think it would be easy to transact since everyone uses the same currency and we will not need an exchanger at all. It will cause some people to lose their jobs but it will ease everyone's spending even when buying online. If this will happen it might be because all of the countries are under one government. That happening I think is great.
It would not be great as you think , spending with ease anywhere on the world would be the advantage on having a one currency but still you wouldnt know that there would be soo many negative effects on this . Competition would arise on each country grasping more money hence more of it would symbolizes on how powerful a country would become. Chaos would surely arise on this matter when theres only one currency and many countries would not let this thing to happen and they want to make their own currency. 
When all of us begin to us only one currency, I think it would be easy to transact since everyone uses the same currency and we will not need an exchanger at all. It will cause some people to lose their jobs but it will ease everyone's spending even when buying online. If this will happen it might be because all of the countries are under one government. That happening I think is great.
First, This will not practically happen. Then No any Government will accepts one centralized currency for all the countries to avoid economical imbalance. By miracle if it comes, This would be best go for the normal peoples and bad for scammers and multi national companies.
One question: who will be in charge of that global currency? Are we even talking about old school FIAT system here?
Introduction of global FIAT currency means that countries will lose the way to manage their own currency.
In case of some local economic crisis something like lowering interest rates and increase the money supply to stimulate economic growth would be impossible.
Introduction of global FIAT currency means that countries will lose the way to manage their own currency.
In case of some local economic crisis something like lowering interest rates and increase the money supply to stimulate economic growth would be impossible.
One thing im sure if the world use one currency, there will be mass lay-off, those who are working at money exchanges, the same thing will happen to forex staffs. There is no need of money exchange so all of their employees will be jobless. This will have a great effect on the countries whose currency is not used. Though transaction will be easier since there is no need of conversion, those that are living in the developing country will most probably benefits from this event.
even with multiple curriencies, crimes like robbing, killing for money is already rampant. So there is no news about it happening when the world decided to use one currency.
In fact, a single world currency would likely end up killing people even more when it comes to inflation, due to an increased labor market and presumably increased inflation, meaning only the third-world earns "more" and everyone gets shafted.
even with multiple curriencies, crimes like robbing, killing for money is already rampant. So there is no news about it happening when the world decided to use one currency.
When all of us begin to us only one currency, I think it would be easy to transact since everyone uses the same currency and we will not need an exchanger at all. It will cause some people to lose their jobs but it will ease everyone's spending even when buying online. If this will happen it might be because all of the countries are under one government. That happening I think is great.
A single world currency would be beneficial in the meaning that no-one would have to exchange money to trade or buy stuff anywhere, yes, but there are a ton of bad things that would go along with that.In fact, a single world currency would likely end up killing people even more when it comes to inflation, due to an increased labor market and presumably increased inflation, meaning only the third-world earns "more" and everyone gets shafted.
When all of us begin to us only one currency, I think it would be easy to transact since everyone uses the same currency and we will not need an exchanger at all. It will cause some people to lose their jobs but it will ease everyone's spending even when buying online. If this will happen it might be because all of the countries are under one government. That happening I think is great.
This idea was embodied in the EU. when on the territory of several countries, one currency is introduced.
That's true and one of the problems that came with it, was that individual nations could not devalue their own currency anymore. That has a negative effect on the economy of those countries.
One currency will mean that I wont bother about exchanges if I want to transact with people in different countries then its cool, however,the implication is what matters for the world powers, will they want to surrender their strength because their strength also lean on their currencies. And for the small countries how do they cope with such pressure coupled with what they are trying to grapple with in their respective countries...
This idea was embodied in the EU. when on the territory of several countries, one currency is introduced.
And it was not very well thought through.
Countries need the option to devalue a currency in order to stay in competition with other countries who might have a stronger economy or different legislative conditions.
If that option is not available, you can not export goods to aother countries because they will not be bought due to the high price. The already weak economy crumbles even more.
That's exactly what happened to the countries in the south of Europe compared to the northern countries.
then there is only strong country will survive and the small country will collapse with fast as each country is not the same for many aspect, there is still many different we can found in each country, like in economy, people society, money growth in that country, fluctuation and else and if we only use one currency, imagine what will be happen with the small and poor country. this can make big world war than we can not imagine.
There would probably be conflicts between countries as if there will only be one currency in the whole wide world, how will they decide if what country will control that currency? And how will it be used in each country? Not every country is the same nor all of them do the same trades with each other, this concept would simply create problems only.
[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.
I don't think so that this will gonna happen in the world wide web and if this will be globaly i can't really imagine that we are gonna use one currency only for whole world and what would be that currency ? isn't dollar? php? canadian? or what? or bitcoin well if bitcoin then i am agree with this is quite interesting a bit.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.
[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.
I don't think so that this will gonna happen in the world wide web and if this will be globaly i can't really imagine that we are gonna use one currency only for whole world and what would be that currency ? isn't dollar? php? canadian? or what? or bitcoin well if bitcoin then i am agree with this is quite interesting a bit. 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.
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