March 28, 2009

Just Say No to a Single Global Currency!

It is clear that the actions of each person and those of each country effect others around them. If you've read this blog for long, you know how I feel about treating people well, caring for others, and "being Jesus" to those around you.

There is a clear and strong international movement toward creating a global currency, and the United States needs to refrain from becoming a part of it. (Just think the Euro goes intercontinental, and you get the idea. Something similar is going on in South America as well.) Don't believe me? Check out this website: Single Global Currency.

Or check out this recent article (below) from US News and World Report.

Here's one of the problems it creates: When the world goes this direction, a smaller and smaller group of people will be in charge of what happens to the majority of us living on the planet. We all know "money makes the world go round", and this is where it will all begin. Sounds like the Book of Revelation in the Bible.

One money, one government. Whose values will be embraced and whose politics enforced by this type of dictatorship? Do you want someone else deciding what is an acceptable way for you to live? Not me!

Global Economy -Yes; Global Currency- Just Say No!

From US News and World Report:
March 25, 2009 10:34 AM ET by James Pethokoukis

Treasury Secretary Tim Geithner says he is "quite open" to a massive reduction in the economic power and influence of the United States.

O.K, what Geithner actually said earlier today is that he is "quite open" to China's idea of a global currency system linked to the International Monetary Fund's Strategic Drawing Rights. But it might be pretty much the same thing since the whole point of the embryonic idea is to lessen the influence of the dollar. More from Geithner: "As I understand it, it's a proposal designed to increase the use of the IMF's Special Drawing Rights. I am actually quite open to that suggestion ...[though it should bee seen as an] evolutionary building on the current architecture rather than moving us to a global monetary union."


Vintage Disneyland Tickets said...

Bravo, brilliant post! I agree 100%. Geithner may be a smart man (haven't seen it yet, but maybe he's just warming up) however, he need to be very careful about what his says.

Massimo said...

As an Italian and strongly Europeanist, I strongly defend the idea of sharing one currency among countries who already share one market. No matter what some say in Europe about the Euro, having just one European currency has helped us be much stronger and united against economic ups and downs than before. And by the way, before the Euro and the huge growth of China, there used to be just one currency worldwide and that was the U.S. dollar.
That said, I have no degree in Economics and Just wanted to share my experience with Euros with proved to be good so far.

Mark Taft said...

Thank you for your insights. Yes, many may consider this single currency a good economic move, but the inherent danger of a worldwide currency is putting a select few in power. Life is more than money. Ultimately, a single currency strips most of us of choice, nations of their independence and unique character, and diminishes our personal differences by creating a one world government behind the veneer of a "council".
Not something I can endorse or celebrate.

Massimo said...

You're absolutely right: life is so much more than money. And one currency can't help people feel part of the same. And once more, our experience with the Euro just proved that. After WWII European countries decided to pay more attention to what they share than to what makes them different and started a long process towards a European Union with just one government. At the core of this process there's people of course: if people feel there's nothing to share, they'll share nothing of course. The problem with the Euro here is that there's already one currency but too many governments, as if the financial union ran faster than the government union. Short, having one currency is not bad in itself, it's bad if it forces to stay together people and countries who don't want to stay together and if give to much power to "representatives" not really rooted to their countries.