TdS: What are the advantages of a single global currency?E-Commerce News: Business: Would a Single Global Currency Have Helped Cool the Meltdown?
MB: In addition to eliminating currency risk and currency fluctuations, a single global currency would eliminate the need for foreign exchange reserves, which now total more than (US)$4 trillion in underutilized assets. It would eliminate approximately $400 billion spent annually in foreign exchange transactions. A single global currency would increase the global value of assets by tens of trillions due to the elimination of currency risk, and global inflation would be reduced by the management of inflation by a Global Central Bank, whose primary objective is monetary stability. Even in today's economy, that's "real money," as the late U.S. Senator Everett Dirksen would say.
Saturday, February 28, 2009
E-Commerce News: Would a Single Global Currency Have Helped Cool the Meltdown?
Posted by Anthony J. Pennings, PhD at 12:24 PM