Nobel-prize winner backs world currency, page 2

Originally posted by thehumbleone

The real question is: How long will people stay in denial?

What will it take for people to realize the one world order has been planned since the foundations of the earth have been laid?

www.theaustralian.news.com.au
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The real question is, how long will people like you, and those who share the same paranoia, as the authors of Revelations, live in a world of fear and denial? You provide a single interpretation of the the introduction of a global currency, that is it is a license to enslave the global population in the form of an obligation to some printing corporation... To be honest, your rationale, while it might be relevant to the political climate of today, is actually deluded.

When an oppressive goverment comes into power (communist Russia / Nazi Germany) you escape, you move to another country. If a one world government takes over, and their intentions aren't as flowery as you were led to believe, where exactly do you escape to? Mars?

Why do we keep bringing up one-party world governments? Look at the European Parliament. It's hardly totalitarian. Sure, individual national sovereignty will become increasingly more ineffectual or even necessary, but the ultimate goal is bringing democracy and law to a greater number of representatives. For that, compromise is absolutely required. How else are we going to stop the unfair national power interests, the oppressive wars, the subversive dealings of mega corporations hidden behind the protection of a nation with a blind eye to extradition... A world governments brings about accountability. A world currency brings about economic cooperation.

The nation-state, in this century, is going to be about as redundant as the Roman Catholic Church was in the political affairs of the Kingdoms of Europe, which ultimately culminated in the Protestant Reformation and the following continent-wide civil wars in those nations.

Benefits of a World Currency

One of the main benefits I see there is that no one government would have any control over its printing. Authority of printing would lay in the hands of a collective ownership of a global parliament, who are represented equally by all nations on the planet.

1) With the elimination of the need to hold foreign exchange reserves, you don't have global currency hegemony, such as the U.S. does today. In this world, if America under produces, becomes lazy and inefficient, goes into war, and spends its way into oblivion and massive debt, you won't see foreign nations and investors purchasing treasuries at negative interest rates, banking on U.S. tax payers to foot the bill sometime in the future... This brings about so much instability and volatility in the global currency market.

2) Eliminate transaction costs when trading goods, including currencies. Higher efficiency. There is no longer any political motivation to put up tariffs against foreign countries and parties, because they all trade in the same currencies and that would negatively affect your economy for the worse.

3) No more currency risk. Foreign investors can pump their money wherever they want without risking their capital on the chance that some self interested political party is going to arbitrarily adjust its interest rates for selfish economic reasons. This process, one of many moronic ideas starting out in Thailand, was one of poor choices that eventually culminated in the massive 1997 Asian Financial Crisis.

4) No more currency failures one with a single global currency. Many economies will shrink in proportion that actually reflects the productivity of those economies. They will no longer be propped up by false national interests. Everything would be inextricably linked with a global free trade market economy.

5) No more current account deficits. No foreign exchange reserves. This puts the world on an even playing field. Monetary policy becomes impossible, as there would be no need for multiple Central Banks. National self interest and greed are totally dissipated and finally wealth can follow productivity on an equitable basis. There is no way for governments to set exchange rates so as to affect income and employment in their own countries at the expense of others. No more "Buy American" or corporate bail outs for undeserving enterprises.

Unfortunately this won't work because the world's nations, especially in the U.S. are being payed far more than they're actually worth. You have GM grease monkeys being paid $75/hr just because they're "American", at the expense of millions of underpaid individuals all over the world that could otherwise experience a better quality of life if not for the incompetent greed of the American lower class, and their inability to categorize themselves in their appropriate social class.

The only reason a single world currency would be opposed is the fact that a lot of people would lose their political clout and that. Nations would no longer have the tools - monetary policy with their central banks - to CONTAIN wealth in their own nations, to "shore up" jobs at the expense of the third world. Wealth would finally follow productivity in a equitable manner and more people will experience a better life over all. Of course, millions of national citizens today that are so used to enjoying the good life, their false incomes propped up by their governments, will inevitably suffer due to a rise in global equality. They will call on their governments to go to war and secure resources for them like the greedy individuals they are.

[edit on 12-3-2009 by cognoscente]