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IMF Calls for New Global Currency
Feb 10, 2011
6 Replies
the ultimate socialist dream...nowhere to run...
regards
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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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well that's succinct and accurate!
regards
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I agree, but China wants it and China has a greater influence over the IMF these days.
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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.
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