Russia Presidential Candidate Prokhorov Calls For Single Global Currency

Saw this coming...

Originally posted by Dimitri Dzengalshlevi
Then create a global standard that all people have access too, but also keep national economies. It's time for humanity to view itself as a world and there needs to be universal reforms and innovations to make it so, currency being one of them.

It's not about national economies, it's about interest rates. If there was a global currency it would only work for large countries and only if their economies were in sync. For everyone else, there would be total chaos.

Your idea only works if each country has a local version of this global currency, having regional interest rates, companies only being allowed to borrow money in the region they are situated in and not being allowed to move out... Ie. pretty much a national currency, except much less business friendly.

The only way to have a single global currency is to create a whole new economy not based on interest rates at all. We tried that in the past and have atleast a thousand years of upturns and recessions to prove that a metal standard wasn't a great idea.

so, again, no thanks!

reply to post by sligtlyskeptical


I am curious as to where you learnt this, I don't have a degree in economics but it seems wrong to me? From my knowledge in economics, a company turns a profit when it's operating costs are under it's gross profits leaving it with a net profit. Now as an investor if I give a company money to upgrade, so it has a lower operating cost and a higher net profit, it has growth without interest. Basically interest is the middle man that does nothing but thinks they deserve a cut. Only problem is it is a cut out of everyones pocket.

Global Peaceful Unification is the inevitable choice for mankind to the future!