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Question: What if the World Bank issued currency?

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Taverner Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-24-10 11:19 AM
Original message
Question: What if the World Bank issued currency?
Say to replace all other countries' money?

What would be the bad, and good ramifications of such a thing?

It would level the playing field, that's for sure, but do we really want that...
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wtmusic Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-24-10 11:22 AM
Response to Original message
1. Wow, big question.
I see an issue with representation for non-member countries, and not a lot checks & balances. Wherever the currency comes from would have way too much power.

Prolly not a good idea.
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zipplewrath Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-24-10 11:23 AM
Response to Original message
2. World Fed?
When you realize the affect that the Fed Monetary Committee can have on this country, imagine it being conducted world wide.
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wtmusic Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-24-10 11:35 AM
Response to Reply #2
8. Can I see a show of hands...who wants to be Fed Chairman?
*Me!* *Me!* *Me!* *Me!* *Me!* *No, Me!*
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Mojorabbit Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-24-10 11:27 AM
Response to Original message
3. My sis and I had a conversation about this a few days ago
Edited on Wed Feb-24-10 11:27 AM by Mojorabbit
If enough countries start to go down the tubes economically I think there are power brokers ready to go with a world currency.
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Oregone Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-24-10 11:27 AM
Response to Original message
4. Itd strip all countries of a mechanism to control inflation & deflation
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havocmom Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-24-10 11:27 AM
Response to Original message
5. not enough haz-mat suits in the world
to protect from all the exploding heads.

Better we should continue to pretend we have sovereign currency while the global corporations go on about screwing everybody. Keeps us serfs quieter.
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NoNothing Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-24-10 11:28 AM
Response to Original message
6. It would be bad under the status quo
You'd end up with the same situation as Greece and Euro, where the entire foundation is threatened by failure of a component. For a world currency to work, you first need a world government, with world democracy and world taxation, fiscal, and monetary policy.
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HeresyLives Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Feb-24-10 11:32 AM
Response to Original message
7. A new reserve currency was presented to
the G8 in 2008. Many countries have backed the idea including Russia and China.
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Taverner Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-25-10 04:12 PM
Response to Reply #7
9. The Terran Dollar
I almost like that...
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muriel_volestrangler Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Feb-25-10 05:21 PM
Response to Original message
10. What do you mean by "to replace all other countries' money"?
Do you mean "demanding that other currencies are all made illegal"? Or "with the hope that some people will use this instead"? Or "after many countries have asked it to issue a currency, saying they will make it used in their economies"?

The answer to your question depends on which situation you mean.
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