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I have come up with a great idea for helping poorer countries [View All]

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hyphenate Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-13-11 11:13 AM
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I have come up with a great idea for helping poorer countries
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Well, poorer countries for sure, but also any nation that requires outside assistance.

I've never really delved into the World Bank, so I don't know if my idea mimics that, so if it does, let me know.

This idea is for all nations, whether they are poor or not. There would be a world currency that all nations could get, with the currency equal to the value of a country's "dollar." These countries--and all countries--can purchase the currency for use within their country. The currency would only be available to the government, so there is no public involvement.

If a country gets into a position where they need outside help--whether from such things as floods, earthquakes, war, hurricanes it doesn't matter--they can use these "dollars" to trade to other nations for help. Once the currency has been traded, it becomes currency for that new country, in their dollar equivalent.

It would be useful to nations only. And it allows a poorer nation to deal on the global market with the same amount of clout as a richer country.

So if Country A has a horrific tornado which leaves utter destruction in its wake, it can pay Country B to help them get back to some sort of normality. The currency purchased by Country A at its rather poor rate of exchange will turn into the rate of exchange of Country B once traded, and recorded by the UN or other body controlling the currency. It's meant to equalize rates of exchange for all countries.

And there can be even sales: one or twice a year, the currency could be "sold" at half price, lets say, so all countries can purchase more currency.

Within a year's time, all countries can purchase the currency up to a defined ceiling on buying, whether it's a trillion, or if it's a billion. Once that ceiling has been reached, they need to wait for one year to pass before buying more, with the exception that if they suffer a disaster and need to trade currency, they can replenish their low supply.

This new agency will be handled by an internal department of the new UN, and cannot be accessed by civilians at all, because it would be useless to them.
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