One thing unnoticed: The talk about the US debt illustrates the fact that

[RB TexLa]

THERE SHOULD NOT BE ANY SINGLE COUNTRY CURRENCIES!

Hopefully, they will soon be a thing of the past. Of course new political and economic unions can learn from Europe's mistake and have strong central banks.

[OHdem10]

1. And the Ron Pauls of this world want to do away with the Fed.

Tea Party Logic???

[JVS]

2. Ummm, no. In fact, the ongoing crisis in Greece demonstrates why having your own currency is...

important in governing a country.

[indurancevile]

3. ?

[dkf]

4. I'm sorry what are you advocating we use?

[saras]

5. The only way to improve on single-country currencies is local currencies

Centralization is exactly the wrong approach, making the currency more subject to manipulation, not less, and making any manipulation affect a larger portion of the economy.

Probably a whole hierarchy of currencies would work the best for the largest variety of situations - a global one for things that need it, a national one for national-level activity, and local ones that reflect local activities and values. And anything that breaks up the universality of currency in general helps allow other human values into the decision-making processes.

[Cali_Democrat]

6. Umm......we have a strong central bank.

Too strong. The Fed is controlled by private banking interests, Wall Street.

That is huge mistake.

[RB TexLa]

7. I'm talking about a strong central bank for the North American Union

Not having a strong central bank is one mistake the EU made.

[woo me with science]

8. You nailed it. nt