Should there be a world currency?

[munna21977]

US Dollar is defacto world currence. Nobody says no to Dollar.

[justanokie]

No. Just look at the Euro and the havoc its unleashed on several members. Why do you think the Swiss stayed clear of that fiasco.

Originally Posted by MLSFan

won't get far, it's a money launder dream currency

explain.

I don't think you understand how crypto works outside a few scary news stories based on anything but fact. Paying with a physical dollar right now is more anonymous than paying with a bitcoin.

It would be trivial for a government to create its own crypto that is 100% traceable. The very nature of crypto includes the ability for it to be traced. They could look at a unit and see every single person/business that traded it...ever.

Currently, if you use any trading service where you register with identifiable info, any crypto can 100% be traced right back to you. They just have to do a little extra work.

To be clear, I don't like the idea of using crypto as a national currency. It would give to much information and control to the government. Its why certain countries are exploring a national crypto currency.

Originally Posted by skeddy

world currency still means those with no money still have no money.

Thats called life.

[jman0war]

Originally Posted by munna21977

US Dollar is defacto world currence. Nobody says no to Dollar.

They certainly do.
You can't walk into a shop and pay with US Dollars in most countries.

[mysticaltyger]

Originally Posted by justanokie

No. Just look at the Euro and the havoc its unleashed on several members. Why do you think the Swiss stayed clear of that fiasco.

Yes, for those who aren't interested in a deep analysis, the fact that one of the richest, best managed, countries didn't go for the Euro should tell you all you need to know.

Sweden and Norway also rejected it. Both are also well managed. Norway is probably richer than Switzerland because it invests the tax revenue from its oil into a sovereign wealth fund. The fact that Norway invested their oil tax revenue instead of stupidly blowing it like most petro-states, says a lot.

[harry chickpea]

No. H*** no.

[PacoMartin]

Originally Posted by mysticaltyger

Yes, for those who aren't interested in a deep analysis, the fact that one of the richest, best managed, countries didn't go for the Euro should tell you all you need to know.

Well Switzerland has not even joined the European Union, which is a requirement for joining the European Monetary Union.

In reality the Euro replaced the national currencies of 12 countries. But half of them represented a more natural currency union then all 12 countries, mostly because there is regular travel among these countries.

These countries had 68% of the population of the EMU, and were circulating 60% of the banknotes (by value) to be replaced.

1. German Mark
2. Austrian Schilling
3. Belgian Franc
4. Dutch Guilder
5. Luxembourgish Franc
6. French Franc

These countries had 32% of the population of the EMU, and were circulating 40% of the banknotes (by value) to be replaced.

1. Finnish Markka
2. Irish Pound
3. Portuguese Escudo
4. Italian Lira
5. Greece Drachma
6. Spain Pesetas

Hypothetically, if only 6 countries had joined the EMU, would Europe be a much happier place? Wouldn't the currencies of the smaller countries have devalued considerably over the last 17 years?