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Oh, so world currency isn't Bitcoin. Although in theory a world currency would be nice but can you imagine so world bank devaluing the currency and banning all currencies. And then we start bailing out every country who can't control their finances (which are too many, including the US, but we haven't got into that). I don't trust money run by governments or big time politicians or world leaders who only concern about themselves.
Oh, so world currency isn't Bitcoin. Although in theory a world currency would be nice but can you imagine so world bank devaluing the currency and banning all currencies. And then we start bailing out every country who can't control their finances (which are too many, including the US, but we haven't got into that). I don't trust money run by governments or big time politicians or world leaders who only concern about themselves.
Good point. It would take a lot of global love, respect and coordination to have a single world currency. Just like with the USA and its states, we all here support all the states with our sovereign money.
You are thinking of currency as a medium of exchange. Currency is much more than that. It's a method of exerting power.
An important observation is that when your country's currency drops in value, it's like giving labor a cut in salary without having to make any union negotiations. Currency is also a way for a central bank to be a lender of last resort.
A world currency would nullify many of those important functions and take away from the power of national governments. It would be a big step if in your lifetime the world reduces to a dozen currencies, but not one currency.
Gold is a good reserve currency, but the practicality of trading in specie would require the establishment of an alt-gold system anyway. We used to run on a gold standard, but currency levels ebb and flow and it was problematic.
The Fed may not do what we like, but it does help us avoid nasty currency issues that take down the good and the bad. Here's Wikipedia's take on the Panic of 1893.
I enjoy collecting old American history books and the documentation on this has changed over the years. The older story, to paraphrase greatly, is that the US found lots of silver, the politicians made it currency, but the currency could be converted into silver or gold and Europe only wanted gold. In a sense, the valuation triangle was wrong. A dirty trade ensued whereby Europe could get gold on debts, buy silver dollars and then again force them to be redeemed for more gold. The United States was about to be bankrupted simply because their dollars weren't the same. The little guys that owed debts couldn't pay them...they had the wrong kind of dollars. International finance, despite the opening of the Suez and foreign markets, had a big problem.
JP Morgan organized a coalition of bankers to end the trade, including the "ever-evil" Rothschilds. They needed the valuation reset, or course, and they made a substantial interest rate on the bonds purchased for gold specie, because this was a risky proposition, but it worked. America was saved. It was perhaps the first time a series of bankers could put governments in their place.
After the Great War, or World War I came about, people became much more inclined to trust a strong financial institution with the value of a dollar over that of pandering politicians. The idea of foreign governments being able to go to war and simply steal the foreign reserves of a country was a problematic one as well. They needed a country that had enough rule of law to not steal everything, was fairly neutral in European intrigues, yet strong enough to ensure they couldn't be invaded or taken over by religious zealots.
The US fit the bill. The banks organized a Federal Reserve banking system. While there have been depressions and recessions since then, we haven't had a Panic. Nobody in living memory in the US can recall a time when a dollar wasn't worth something.
PEOPLE JUST DO NOT UNDERSTAND THE DANGER OF CENTRALIZING POWER/CONTROL!!!!
Despite the lies they will tell, a single world currency will not benefit humanity. It centralizes power in the hands of a tiny global elite. We already have that. Let's not make it any worse. Don't even entertain the question.
Just as one small example...look at what happened when Greece joined the Euro. Europe and Greece would both have been better off separate. But of course, the European Union is used as a stepping stone for the globalists; so of course, they're not letting anyone out withing making them go through h*ll. Most people don't have the stomach for going through h*ll. What they don't understand is the global elite will put us all through h*ll anyway. It's just a question of time. Better to suck it up now. It won't get better or easier in the future.
Here is a good introductory background about the money system and how it affects everything else:
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