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Yeah, they do: America Tax.
Well this is the last place I expected the call for a global currency to come from. I guess Russia has it's own economic reasons for wanting this.
Originally posted by SaturnFX
Of course there is going to be a one world currency in time
Of course there will be unified laws, a proper court system, and a leadership of countrys represented as a actual functioning UN.
This is actually a desirable trait...so long as each country and each state holds onto its local legal and representitive ability.
This is the transition, as Michau Kaku explained, from a type 0 planet to a type 1 planet. to think we would forever be divided is a absolutely insane idea.
Cavemen got together with neighboring cave tribes to unite areas
these became villages, which united with other neighboring villages becoming cities, then city-states, kingdoms, countrys, etc.
this is a natural progression. No doubt when villages united, there were people grumpy about those transitions also...losing their status as village elder or head magicman or whatever...but oh well, its a natural tendency to unite in greater and greater systems...hell, you can even observe this in material science...
organization is one of the most natural events in existance, in things living and not.
The argument, for the enlightened, is not about how do we stop it...its like stopping the tide from coming in, or gravity from working...
The argument is how do we make sure we have independence, freedom, and representation as this natural process occurs.. Anyone whom believes it can be avoided is simply delusional.
And...in the very far future, Mars, Moon, and the rest of the colonised bodies of the Sol system will unite
New Worlds Order I imagine it will be tagged with...and once again people here and there will object, not understanding it is a absolute inevitability.
So...suck it up, understand its going to happen, and the biggest thing to quest for is what you want as it happens...because to bury your head in the sand and say it can be stopped is simply childish denial.
It will be done...your choice is do you want a say in how its done or do you want to deal with it imposed on you.
As far as I know, the amount of US$s in circulation was made a state secret fairly recently (before melt-down tho), so it is impossible to know exactly how bad the situation actually is. Perhaps, GreenBicMan, you could shed some light on this?
Originally posted by Neo_Serf Anyone have any hard numbers of how atrificially inflated the USDs value is due to its defacto but waning status as world reserve currency? How would a full move away from this status quo effect the buying power of the USD?
Originally posted by Retseh
"Unity in Diversity"
How ironic coming from a Russian, who along with the Chinese have done everything humanly possible to eliminate cultural diversity throughout the 20th century.
The Trade Currency would simply act as an exchange rate for private business, incurring no costs for buying or selling of currency, just a nominal fee for the secure electronic transfer. Also, it would prevent Govt from overborrowing from its central bank because the exchange rate of national fiat currency, Cash, against the Trade Currency would be set by GDP / Cash in circulation. To overborrow would thus be to automatically devalue Cash.
What would be the benefit over a non inflationary gold currency that can be used for all types of transactions?
I partly agree, but credit bubbles aren't the whole picture. New innovation creates whole new market areas: automobile, domestic electricity, radio & TV, video & DVD, personal computers... Whilst a growing market may become a bubble, it need not. Everyone is blaming sub-prime mortgages & consumer credit for the current woes, but if non-payment was the real problem, the whole system would have already collapsed. The real problem is that lending institutions owning debt in a confident market are seen as great investments; their share price gets inflated way beyond the value of the debt they own. This inflated value is whats lost when the bubble busts & a bit more as panic sets in. If investment was done in Capital Currency only, people would be a lot more wary of paying inflated share prices to begin with, because the currency itself would gain value as the scarce resource it represented did.
You mention what is commonly seen as a 'problem' for a gold backed currency - that is lack of flexibility to expand during a boom. This is precisely why this is a good currency - because it prevents inflation of bubbles, over expansion of credit
There have been several financial crises before the 30s tho. 1880-1913 off the top of my head. We hear all kinds of explanations for each problem & as times change so do opinions. How about we just look @ the entire system which keeps breaking down? Is it possible that there is something fundamental about capitalism which causes these problems? If not, then what other conclusion can we come to than that the system is so unstable that a whole multitude of different things have, can & thus will, cause it to fail?
You also said that a gold standard doesn't prevent boom and bust - but in fact it is far more effective than a fiat currency in preventing these cycles. If you are referring to the great depression as an example, then I am not sure it is a good example.
Originally posted by Question
reply to post by PjZ101
Does it not say somewhere in the bible that when the time is right, the anti-christ WILL in fact proclaim himself to be so? Some would think "Oh that's ridiculous! if he stated that he was the anti-christ, he'd be killed instantly!"