One World Currency

[shel90]

Some poeple are saying that Obama will support the one world currency that China and other countries are pushing the U.N. for. I believe that Obama will keep his word that it wouldnt happen but several people believes that he will give in to the pressures of the U.N. and change the American dollar to an one-world currency.

What do you think?


Article - WSJ.com
WASHINGTON (Dow Jones)--President Obama will sit down with Chinese President Hu Jintao and Russian President Dmitry Medvedev at next week's Group of 20 summit in London, the White House said Wednesday.

While in London, Obama also will meet U.K. Prime Minister Gordon Brown, Queen Elizabeth II, Indian Prime Minister Manmohan Singh and South Korean President Lee Myung-bak.

The April 1 sessions with Hu and Medvedev come after Chinese and Russian officials expressed support for the creation of a new global reserve currency, an idea the White House has repeatedly dismissed.

Earlier Wednesday, however, Treasury Secretary Timothy Geithner said he was open to talking about a proposed expansion of the International Monetary Fund's special drawing-rights program, comments that sent the dollar down in foreign-exchange markets. The secretary later clarified his remarks, saying the greenback is likely to remain the world's dominant reserve currency.

The back and forth reflects the sensitivity of currency issues ahead of next week's summit and forced the White House to address the matter for the second straight day.

"I've said and the president has said now a couple of different times that America's the strongest and safest place to invest in the world, and I think that will continue to be the case for a long, long time," White House spokesman Robert Gibbs said.

"I think the secretary of Treasury has put out a statement saying that, and echoing what the president said last night, that the dollar will be the reserve currency for a long, long time," Gibbs said.

-By Henry J. Pulizzi, Dow Jones Newswires; 202-862-9256; henry.pulizzi@dowjones.com

 

[Bottesini]

Already there is the Euro. I think it is only a matter of time before currency is global.

 

[VamPyroX]

If they do this one world currency, the exchange rate is going to go bonkers. For all we know, we might end up losing money... or make extra money. Who knows?

 

[shel90]

If they do this one world currency, the exchange rate is going to go bonkers. For all we know, we might end up losing money... or make extra money. Who knows?

I am against the idea of one world currency cuz it would mean the value of our dollars would depend on the flunctating economy of other countries. No thanks.

 

[Maria]

I believe it will happen. One world government. This is what Obama is intended to do.

 

[shel90]

I believe it will happen. One world government. This is what Obama is intended to do.

Obama said in his speech on Tuesday that he is not in favor of it.

 

[Foxrac]

No way, I don't believe in one world currency.

 

[Reba]

I like our American money just fine, thank you. No need to go "global."

 

[Secretblend]

If they do this one world currency, the exchange rate is going to go bonkers. For all we know, we might end up losing money... or make extra money. Who knows?

Don't we already have that problem?

 

[pek1]

I believe it will happen. One world government. This is what Obama is intended to do.

Intention or not, a one-world money system will be here eventually, just as promised.

 

[Maria]

Intention or not, a one-world money system will be here eventually, just as promised.

*noddin'* Eventually, yes. I've seen this world have changed soo much lately.

 

[Foxrac]

Intention or not, a one-world money system will be here eventually, just as promised.

Promise? You are already lie to us and where is source?

 

[Jiro]

well actually - yes the world will go with ONE currency but the only way to do that is to have the concept of economy (as in monetary value) to be removed. For example - we work for money. We get motivated by money. We do stuff for money. etc...

so as long as our economy and behaviors are driven by money (as in greed)... this universal currency won't work.

 

[ASLGAL]

Some poeple are saying that Obama will support the one world currency that China and other countries are pushing the U.N. for. I believe that Obama will keep his word that it wouldnt happen but several people believes that he will give in to the pressures of the U.N. and change the American dollar to an one-world currency.

What do you think?

I hope he does not buckle to anything the UN wants, including one world currency.

Obama said in his speech on Tuesday that he is not in favor of it.

He has already said many things and then done the opposite. I hope this is not one of them.

 

[Royale]

The U.S. Congress will go AGAINST one world currency. The motion is already introduced to ban the global currency by one Congresswoman named Michele Bachmann from Minnesota on the table.

 

[Maria]

I hope he does not buckle to anything the UN wants, including one world currency.


He has already said many things and then done the opposite. I hope this is not one of them.

Right. I've noticed that, too.

 

[Daredevel7]

He has already said many things and then done the opposite. I hope this is not one of them.

Mind giving some examples?

 

[Bottesini]

well actually - yes the world will go with ONE currency but the only way to do that is to have the concept of economy (as in monetary value) to be removed. For example - we work for money. We get motivated by money. We do stuff for money. etc...

so as long as our economy and behaviors are driven by money (as in greed)... this universal currency won't work.

I don't understand why not. You would have the same motivation no matter what the money was, wouldn't you?

 

[VamPyroX]

well actually - yes the world will go with ONE currency but the only way to do that is to have the concept of economy (as in monetary value) to be removed. For example - we work for money. We get motivated by money. We do stuff for money. etc...

so as long as our economy and behaviors are driven by money (as in greed)... this universal currency won't work.

Yep.

The whole world would have to establish a standard minimum wage system, a minimum age system, an equal tax system, etc.

If we were to have a One World Currency system, but the tax system was different... you could buy for less tax in one place and sell for more tax in another place... with the same currency. That would corrupt the currency system.

So, laws would have to be made to ensure that the One World Currency is treated as standard all over the world.

 

[naisho]

I think an universal currency system is still yet to come.

In our time.. there's a possibility of it happening towards some later date but it will take a lot of adjusting and changes prior to doing so.. like all the nations have to start agreeing there is a need for it. But right now, no way.


However I believe that a paper-less money system will come before this. A credit system where things are done electronically. No, I'm not speaking of credit cards. I'm talking about you working hours, earning credits instead of paper cash and cheques.

This credit system will then be the blueprint that opens the universal currency system.