- posted
13 years ago
IMF Calls for New Global Currency
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- posted
13 years ago
the ultimate socialist dream...nowhere to run...
regards
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- posted
13 years ago
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- posted
13 years ago
While DSK was calling for a world currency, and peace and prosperity, I was calling for puppies all day every day.
He's a nut.
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- posted
13 years ago
well that's succinct and accurate!
regards
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- posted
13 years ago
I agree, but China wants it and China has a greater influence over the IMF these days.
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- posted
13 years ago
China really wants the exorbitant privilege of making its own currency the global currency. A shared currency would only be second best.
Arguably the first stage towards a world currency would harm surplus countries like China and Germany. You'd have to find some way of disciplining them, so that means fines.
It would also start with a fixed exchange rate for basic commodities but prices to the consumer would continue to vary, which would cause chaos.
In other words, you'd have to face the the same problems the eurozone currently faces - chief of which is unnecessary unemployment.