Now World is becoming a global village, Is it possible to have one common currency for the entire world?
Answer:
Yes!
For hundreds of years since the days of Marco Polo and before, Gold & Silver was internationally accepted money.
In 1944 the U.S. dollar was deemed international currency because it was backed by Gold. Which meant foreign countries could redeem dollars for Gold which they did.
Unfortunately the Federal Reserve put into circulation way too many more paper dollars, than there was Gold to back them.
Nixon closed the Gold redeemable dollar in 1971.
Since that time the dollar has depreciated at a rapid pace.
Now from Ron Pauls money book," Governments {the FED} always choose to flood the market with paper dollars in hopes that economic growth will make a country prosper."
The founders felt private banking would work well in the USA. Unfortunately poor management caused some of them to fail during the depression when the FED was gaining control of the whole countries monetary system.
There were 2 mistakes made in the early Gold/Silver backed U.S. systems.
One was the Gold/Silver supply & demand factor was not allowed to float. {The gvt. fixed the price}
The other mistake was allowing fractional reserve lending. When the private banks had a bank run they didn't have enough Gold in the vault to pay off the depositors.
Hang on to your hat,,,,because there are now private banking "TYPE" firms that are able to have customers exchange small or large amounts of Gold or Silver for products or services worldwide, over the internet that don't allow fractional reserve practices.
Greenspan himself said this was the future of banking.
This is one of them:
http://www.goldmoney.com/
New Hampshire also wants to return to Constitutional money, check this out:
http://www.goldmoneybill.org/
I hope this answered your question.
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No. Too many governments are intrested in their own selfish persuit of riches.
Yes, as they already have the Euro dollar in Europe and if you check out - North American Union - you will find out their plans to unite Mexico, the U.S., and Canada (for starters) and print the "Amero" dollars for our use, then the South Americans will join into this, and then the Americas will join the European Union. This all is what is really behind the great "push" for the lack of immigration controls that we just saw yesterday.
I'm sorry, but the world is so far from the global village you speak of, it's almost a moot point. Great question for the conspiracy theorist, though. The Amero. Yeah, right.
yes, but it will be in the future.
The world is getting smaller and smaller as time goes by; eventually it will be to a point people all demand the same currency to lower the transaction cost. It is just a matter of time.
It is called the American dollar.
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