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Old 06-08-2020, 09:46 PM
 
356 posts, read 195,326 times
Reputation: 195

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What happens if all currencies are priced 1:1 ratio?

US Dollars
JP Yen
Yuan
Euros
Pound
MXN Pesos
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Old 06-10-2020, 08:33 AM
 
10,547 posts, read 4,580,802 times
Reputation: 2153
Quote:
Originally Posted by mrxalleycat View Post
What happens if all currencies are priced 1:1 ratio?

US Dollars
JP Yen
Yuan
Euros
Pound
MXN Pesos
That makes no sense. For instance if 1 Yen = 1 USD, suddenly it becomes immensely easier for Japan to buy stuff from us. The balance of trade would go haywire. The markets need to determine and adjust for relative currency values.

A more sensible way to do this would be if all countries used the same currency. And that has less than no chance today.
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Old 06-10-2020, 08:55 AM
 
3,548 posts, read 2,252,435 times
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What happens if the NBA slowed down enough to have me on a level playing field with lebron James?

Last edited by Thatsright19; 06-10-2020 at 09:15 AM..
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Old 06-10-2020, 09:14 AM
 
Location: Vallejo
15,378 posts, read 17,358,329 times
Reputation: 13824
Quote:
Originally Posted by Hoonose View Post
That makes no sense. For instance if 1 Yen = 1 USD, suddenly it becomes immensely easier for Japan to buy stuff from us. The balance of trade would go haywire. The markets need to determine and adjust for relative currency values.

A more sensible way to do this would be if all countries used the same currency. And that has less than no chance today.
It doesn't really. Lots of countries peg their currencies.

What happens is it limits that countries ability to manipulate currency. Hong Kong, for example, pegs to the USD. It's not at a 1:1 ratio, but if they wanted to do that it would just be a matter of inconvenience. They'd have to recall all the existing HK dollars and issue new currency or do some form of gradually phasing them out with a HK1 (old) dollar being exchangeable with the HK2 (new dollar) at a 7.75:1 ratio. Aside from that period of confusion where everyone is used to old dollar pricing (bread used to cost about $18 and now it costs $2.50, does that mean I'm paying more or less -- basically until you adjust you have to carry a calculator everywhere as you have no mental conception of what normal pricing is any longer) there wouldn't be any difference though. Doesn't matter if the HK dollar is pegged at 1:1 or 7.75:1. Pegged is pegged.

What really matters is giving up that monetary control. Some countries will do it. E.g., the adopt the Euro or peg to the Euro. But the US is not going to peg to the Euro and they're not going to peg the Euro to the USD.
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Old 06-11-2020, 05:36 AM
 
Location: Lower East Side, NYC temporarily Tokyo, Japan
2,630 posts, read 1,738,499 times
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I have so much paper yen, probably could buy a few properties in NYC if it jumped 100x lol.
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Old 06-11-2020, 08:03 AM
 
Location: Western Washington
10,459 posts, read 9,437,481 times
Reputation: 17798
I think I have about 200,000 Indonesian Rupiah left over from my last trip. The current exchange rate is about 14,000:1, so that is about $15.

But if the OP thinks a 1:1 exchange rate might be a good idea, I am happy to send him my Rupiah in exchange for the title on his house.
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Old 06-12-2020, 08:28 PM
 
Location: Guadalajara, MX
7,491 posts, read 3,644,311 times
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Last time in Vietnam I was a millionaire after every trip to the ATM. Then I'd buy a beer for 30k.
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Old 06-13-2020, 05:59 AM
 
Location: Maine
2,647 posts, read 1,874,567 times
Reputation: 4783
Anyone have one of those 100 million zimbabwe notes, "hello Mr. Gates... Yup I'm your new neighbor"
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Old 06-13-2020, 07:32 AM
 
10,547 posts, read 4,580,802 times
Reputation: 2153
Making every currency at 1:1 is like every country using the same currency, just calling it by their own name.
A single global currency is a distant possibility, but every country would at first have to buy in using their relative valued sovereign currency in exchange for the global one.
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Old 06-13-2020, 12:09 PM
 
27,961 posts, read 30,454,479 times
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A single cashless world currency is one of the ultimate goals of the globalists. They want it not because it's a benefit to the majority of the world's people, but because once systems are standardized, it's much easier to centralize decision making (i.e. power), in a few hands.

A single cashless world currency means everything everyone does is tracked and monitored--more control for a few. Don't be seduced by any of the benefits of convenience or whatever else they'll say to us. Any benefits will be fleeting and small compared to what it will do for the .00001% global elite.
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