Morrison Bonpasse

US Dollar: "I'm Not Dead Yet!"

The world AND the U.S. will be better off when the U.S. Dollar is replaced by, and incorporated into, a Single Global Currency, managed by a Global Central Bank within a Global Monetary Union. In Europe, countries are using one currency. Why not the 192 U.N. members?
We don't need to wait for the further decline, and perhaps rapid decline, of the dollar to start planning for the Single Global Currency.
The primary problem with the euro and currencies of other monetary unions is that they still must co-exist within the international multi-currency system itself where the value of those common currencies must still fluctuate in value against each other. With a Single Global Currency, there are no such fluctuations, by definition.
In addition to eliminating currency fluctuations, the use of a Single Global Currency would eliminate the current foreign exchange trading expense of $400 billion annually, eliminate currency risk, eliminate current account imbalances, and eliminate the need for foreign exchange reserves.
With a Global Central Bank with a primary goal of monetary stability, inflation would likely be lower.
The world should begin researching and planning now for a Single Global Currency, which will save the world - literally: trillions. It is not a cure for the current recession, but will help lay the groundwork for a more stable future.
The Single Global Currency Assn. promotes the implementation of a Single Global Currency by 2024, the 80th anniversary of the 1944 Bretton Woods conference. We will reach that point through the creation, expansion and merger of currencies of nations and monetary unions.
That's only 15 years away. The Assn's website is singleglobalcurrency.org. See, also, the book, "The Single Global Currency - Common Cents for the World," and the ICFAI University Press book, "A Single Global Currency - Perspectives and Challenges."

Morrison Bonpasse
President
Single Global Currency Assn.
Newcastle, Maine, USA

China Proposes a Global Currency to Replace the US Dollar

The proposed increased use of SDR's can only be considered as an interim step. For the long term, the world should move to support a common currency which is managed by a monetary union central bank. The Chinese proposal of a new global reserve currency is consistent with this idea, but not completely. When such a currency supports countries with 40-50% of the world's GDP, that currency will become the defacto Single Global Currency, and the "tipping point" momentum will favor its continued growth, until it supports all the countries of the world. Thus will come the Single Global Currency managed by a Global Central Bank within a Global
Monetary Union, and the benefits can be measured in the trillions,
annually.
Such a Single Global Currency will provide what the people of the world
want - stable money.
The primary problem for the euro and every regional monetary union
today is that they must still exist in the multicurrency world where
the value of its currency will fluctuate against other currencies.
If 16 countries can use the same currency, why not the 192 U.N.
members? Those 192 countries now use 141 currencies and the number is
dropping annually. The euro is definitely a harbinger of the future,
and soon all 25 EU members will be part of the EMU, and by then, there
will be more EU members to add. Several of the remaining non-euro EU
members are now seeking admission as soon as possible. The IMF has even
urged several EU members to "euroize" even before completing the standard accession process.
In addition to eliminating currency fluctuations, the use of a Single
Global Currency would eliminate the current foreign exchange trading
expense of $400 billion annually, eliminate currency risk, eliminate
current account imbalances, eliminate the need for foreign exchange
reserves (now totaling more than $6 trillion); and bring other benefits
worth trillions, such as reducing the impact of global financial turmoil
such as we are now experiencing.
The Single Global Currency Assn.(singleglobalcurrency.org) promotes the implementation of a Single Global Currency by 2024, the 80th
anniversary of the 1944 conference. That’s only 15 years away.
The world is moving toward a Single Global Currency through the
creation, expansion and merger of regional monetary unions. Other
routes are through "ization" (as in "dollarization"and "euroization")
and international monetary conferences proposals and agreements, such
as were seen at Bretton Woods. The merger of the eurozone with one or
two other currencies is one possible route to a Single Global Currency.
The challenge now is to reach that goal deliberately, as soon as
possible, with as little cost and as few crises as possible. If the
eurozone were to merge with the U.S. dollar of the yen, or if the yen
and the U.S. dollar were to form a monetary union, the road to a Single
Global Currency would be clear.
The only remaining questions about implementation of a Single Global
Currency are: when? and how much cost and turmoil will the world
endure before that implementation.
See the book, "The Single Global Currency - Common Cents for the World."
Morrison Bonpasse
Single Global Currency Assn.
Newcastle, Maine, United States

China's Investing in a NEW Currency... and It AIN'T the Dollar

While foreign investments in natural resources-related assets is a good strategy, it is not the answer for solving the global multicurrency problem, which continues to put all the people of the world at risk of global financial crisis. Having multiple currencies, whose values fluctuate, is a relic of history and should be discarded as soon as possible.
. Today, we must research and plan for a Single Global Currency, and if
we are lucky and plan ahead, we will avoid a major currency
crisis. The next major realignment of the world's major currencies
should be to a common currency managed by a monetary union central
bank. When such a currency supports countries with 40-50% of the world's GDP, that currency will become the defacto Single Global Currency, and the "tipping point" momentum will favor its continued growth, until it
supports all the countries of the world. This is one route to a Single Global Currency managed by a Global Central Bank within a Global Monetary Union, and the benefits can be measured in the trillions, annually.
Such a Single Global Currency will provide what the people of the world
want - stable money.
The primary problem for the euro and every regional monetary union
today is that they must still exist in the multicurrency world where the value of its currency will fluctuate against other currencies.
If 16 countries can use the same currency, why not the 192 U.N.
members? Those 192 countries now use 141 currencies and the number is
dropping annually. The euro is definitely a harbinger of the future,
and soon all 25 EU members will be part of the EMU, and by then, there
will be more EU members to add. Several of the remaining non-euro EU
members are now seeking admission as soon as possible. The IMF has even urged several EU members to "euroize" even before completing the standard accession process.
In addition to eliminating currency fluctuations, the use of a Single
Global Currency would eliminate the current foreign exchange trading
expense of $400 billion annually, eliminate currency risk, eliminate
current account imbalances, eliminate the need for foreign exchange
reserves (now totaling more than $6 trillion); and bring other benefits
worth trillions, such as reducing the impact of global financial turmoil
such as we are now experiencing.
The Single Global Currency Assn. (singleglobalcurrency.org) promotes the implementation of a Single Global Currency by 2024, the 80th
anniversary of the 1944 conference.
The world is moving toward a Single Global Currency through the
creation, expansion and merger of regional monetary unions. Other
routes are through "ization" (as in "dollarization"and "euroization")
and international monetary conferences proposals and agreements, such
as were seen at Bretton Woods. The merger of the eurozone with one or two other currencies is one possible route to a Single Global Currency.
The challenge now is to reach that goal deliberately, as soon as
possible, with as little cost and as few crises as possible. If the
eurozone were to merge with the U.S. dollar of the yen, or if the yen
and the U.S. dollar were to form a monetary union, the road to a Single
Global Currency would be clear.
The only remaining questions about implementation of a Single Global
Currency are: when? and how much cost and turmoil will the world
endure before that implementation.
See the book, "The Single Global Currency - Common Cents for the World."
Morrison Bonpasse
Single Global Currency Assn.
Newcastle, Maine, United States

On the Road: The Dollar, Interest Rates, and Gold

Whatever the short termp prospects for the U.S. dollar, the world will not continue to tolerate a system where the primary global currency is one country's national currency. The next major realignment of the world's major currencies should be to a
common currency managed by a monetary union central bank. If the world is lucky and plans ahead, we will avoid a major currency crisis. When such a currency supports countries with 40-50% of the world's GDP, that currency will become the defacto Single Global Currency, and the "tipping point" momentum will favor its continued growth, until it supports all the countries of the world. Thus will come the Single Global Currency managed by a Global Central Bank within a Global Monetary Union, and the benefits
can be measured in the trillions, annually.
Such a Single Global Currency will provide what the people of the world want - stable money.
The primary problem for the euro and every regional monetary union today is that they must still exist in the multicurrency world where the value of its currency will fluctuate against other currencies.
If 16 countries can use the same currency, why not the 192 U.N.
members? Those 192 countries now use 141 currencies and the number is dropping annually. The euro is definitely a harbinger of the future, and soon all 25 EU members will be part of the EMU, and by then, there will be more EU members to add. Several of the remaining non-euro EU members are now seeking admission as soon as possible. The IMF has even urged several EU members to "euroize" even before completing the standard accession process.
In addition to eliminating currency fluctuations, the use of a Single
Global Currency would eliminate the current foreign exchange trading expense of $400 billion annually, eliminate currency risk, eliminate current account imbalances, eliminate the need for foreign exchange reserves (now totaling more than $6 trillion); and bring other benefits worth trillions, such as reducing the impact of global financial turmoil such as we are now experiencing.
The Single Global Currency Assn. (singleglobalcurrency.org)
promotes the implementation of a Single Global Currency by 2024, the 80th anniversary of the 1944 conference. That’s only 15 years away.
The world is moving toward a Single Global Currency through the
creation, expansion and merger of regional monetary unions. Other
routes are through "ization" (as in "dollarization"and "euroization") and international monetary conferences proposals and
agreements, such as were seen at Bretton Woods. The merger of the eurozone with one or two other currencies is one possible route to a Single Global Currency.
The challenge now is to reach that goal deliberately, as soon as
possible, with as little cost and as few crises as possible. If the
eurozone were to merge with the U.S. dollar of the yen, or if the yen
and the U.S. dollar were to form a monetary union, the road to a Single Global Currency would be clear.
The only remaining questions about implementation of a Single Global Currency are: when? and how much cost and turmoil will the world endure before that implementation.
See the book, "The Single Global Currency - Common Cents for the World."
Morrison Bonpasse
Single Global Currency Assn.
Newcastle, Maine, United States

Dollar Chart Tells a Much Different Story than Pundits Do

Mr. Kim's views are significant and interesting. It is our multicurrency system that causes much of the price differential among goods and services, and we can fix that problem by moving to a Single Global Currency which will provide what the people of the world want - stable money.
The success of the euro has shown the benefits of monetary union, but the primary problem for the euro and every regional monetary union today is that they must still exist in the multicurrency world where the value of its currency will fluctuate against other currencies.
If 16 countries can use the same currency, why not the 192 U.N.
members? Those 192 countries now use 141 currencies and the number is dropping annually. The euro is definitely a harbinger of the future, and soon all 25 EU members will be part of the EMU, and by then, there will be more EU members to add. Several of the remaining non-euro EU members are now seeking admission as soon as possible. The IMF has even urged several EU members to "euroize" even before completing the standard accession
process.
In addition to eliminating currency fluctuations, the use of a Single
Global Currency would eliminate the current foreign exchange trading expense of $400 billion annually, eliminate currency risk, eliminate current account imbalances, eliminate the need for foreign exchange reserves (now totaling more than $6 trillion); and bring other benefits worth trillions, such as reducing the impact of global financial turmoil such as we are now experiencing.
The Single Global Currency Assn. (singleglobalcurrency.org)
promotes the implementation of a Single Global Currency by 2024, the 80th anniversary of the 1944 conference. That’s only 15 years away.
The world is moving toward a Single Global Currency through the
creation, expansion and merger of regional monetary unions. Another route is through international monetary conferences proposals and agreements, such as were seen at Bretton Woods. The merger of the eurozone with one or two other currencies is one possible route to a Single Global Currency.
The next major realignment of the world's major currencies should be to a common currency managed by a monetary union central bank. When such a currency supports countries with 40-50% of the world's GDP, that currency will become the defacto Single Global Currency, and the "tipping point" momentum will favor its continued growth, until it supports all the countries of the world.
The challenge now is to reach that goal deliberately, as soon as
possible, with as little cost and as few crises as possible. If the
eurozone were to merge with the U.S. dollar of the yen, or if the yen
and the U.S. dollar were to form a monetary union, the road to a Single Global Currency would be clear.
The only remaining questions about implementaiton of a Single Global Currency are: when? and how much cost and turmoil will the world endure before that implementation.
See the book, "The Single Global Currency - Common Cents for the World."
Morrison Bonpasse
Single Global Currency Assn.
Newcastle, Maine, United States

Global Currency Trial Balloons: Bad News for the Dollar?

In view of the predictable decline of the dollar as a percentage of global monetary transactions, the United States has the opportunity to lead the world toward the implementation of a Single Global Currency, which will provide what the people of the world
want - stable money.
In addition to eliminating currency fluctuations, the use of a Single
Global Currency would eliminate the current foreign exchange trading expense of $400 billion annually, eliminate currency risk, eliminate current account imbalances, eliminate the need for foreign exchange reserves (now totaling more than $6 trillion); and bring other benefits worth trillions, such as reducing the impact of global financial turmoil such as we are now experiencing.
The Single Global Currency Assn. (singleglobalcurrency.org)
promotes the implementation of a Single Global Currency by 2024, the 80th anniversary of the 1944 conference. That’s only 15 years away.
The world is moving toward a Single Global Currency through the
creation, expansion and merger of regional monetary unions. Another route is through international monetary conferences proposals and agreements, such as were seen at Bretton Woods. The merger of the eurozone with one or two other currencies is one possible route to a Single Global Currency.
The next major realignment of the world's major currencies should be to a common currency managed by a monetary union central bank. When such a currency supports countries with 40-50% of the world's GDP, that currency will become the defacto Single Global Currency, and the "tipping point" momentum will favor its continued growth, until it supports all the countries of the world.
The challenge now is to reach that goal deliberately, as soon as
possible, with as little cost and as few crises as possible. If the
eurozone were to merge with the U.S. dollar of the yen, or if the yen
and the U.S. dollar were to form a monetary union, the road to a Single Global Currency would be clear.
The only remaining questions about implementaiton of a Single Global Currency are: when? and how much cost and turmoil will the world endure before that implementation.
See the book, "The Single Global Currency - Common Cents for the World."
Morrison Bonpasse
Single Global Currency Assn.
Newcastle, Maine, United States

Asia Risks Much with Its Criticism of U.S. Monetary Policy

What matters is not how the world's monetary system evolved into the current situation, with its gigantic risks and imbalances; but how to move the world to a Single Global Currency where such risks and imbalances will not appear.
The success of the euro shows that monetary union is the best way to ensure monetary stability and resolve imbalances. For example, there is zero concern today about the imbalances between France and Germany.
The primary problem with the euro and currencies of other monetary unions is that they still must co-exist within the international multi-currency system itself where the value of those common currencies must still fluctuate in value against each other.
If 16 countries can use the same currency, why not 192?
In addition to eliminating currency risk, the use of a Single Global Currency would eliminate the current foreign exchange trading expense of $400 billion annually, eliminate current account imbalances, eliminate the need for foreign exchange reserves (now totaling more than $6 trillion); and bring other benefits worth trillions.
The Single Global Currency Assn. (singleglobalcurrency.org)
promotes the implementation of a Single Global Currency by 2024, the 80th anniversary of the 1944 conference. That's only 15 years away.
The world is moving toward a Single Global Currency through the
creation, expansion and merger of regional monetary unions. Countries could also form ad hoc monetary unions by "izing" their countries to a major currency as Ecuador and El Salvador did by "dollarizing" and as Montenegro and the Vatican did by "euroizing." Another route is through international monetary conferences proposals and agreements, such as were seen at
Bretton Woods in 1944.
The challenge now is to reach that goal deliberately, as soon as possible with as little cost and as few crises as possible.
China and Asia can help lead the world in that direction.
See the book, "The Single Global Currency - Common Cents for the World."
Morrison Bonpasse
Single Global Currency Assn.
Newcastle, Maine, United States

Wednesday FX View: Currency Direction Up in the Air

Andrew Wilkinson's phrase, "One has to wonder what the impact would be if the Chinese decided to side with a currency... " shows the risks of the current multicurrency system. The value of people's money should not depend upon decisions by one country regarding the currency of another. It should not depend upon buying and selling of currencies in a marketplace.
Instead, we should be moving to a Single Global Currency, managed by a Global Central Bank within a Global Monetary Union.
If 16 countries can use the same currency, why not 192? The euro is definitely a harbinger of the future, and soon all 25 EU members will be part of the EMU. The IMF has even urged several EU members to "euroize" even before completing the standard accession process.
In addition to eliminating currency fluctuations, the use of a Single
Global Currency would eliminate the current foreign exchange trading expense of $400 billion annually, eliminate currency risk, eliminate current account imbalances, eliminate the need for foreign exchange reserves (now totaling more than $4 trillion); and bring other benefits worth trillions, such as reducing the impact of global financial turmoil such as we are now experiencing.
The Single Global Currency Assn.(singleglobalcurrency.org) promotes the implementation of a Single Global Currency by 2024, the 80th anniversary of the 1944 conference. That’s only 15 years away.
The world is moving toward a Single Global Currency through the
creation, expansion and merger of regional monetary unions. Another route is through international monetary conferences proposals and agreements, such as were seen at Bretton Woods.
The challenge now is to reach that goal deliberately, as soon as
possible, with as little cost and as few crises as possible. If the
eurozone were to merge with the U.S. dollar of the yen, or if the yen
and the U.S. dollar were to form a monetary union, the road to a Single Global Currency would be clear.
The only remaining questions about implementaiton of a Single Global Currency are: when? and how much cost and turmoil will the world endure before that implementation.
See the book, "The Single Global Currency - Common Cents for the World."
Morrison Bonpasse
Single Global Currency Assn.
Newcastle, Maine, United States

One World, One Currency?

Despite the initial U.S. demurrals, China is correctly leading the way to a Single Global Currency, which necessariy will be managed by a Global Central Bank within a Global Monetary Union. As China requests, this next global currency will not be the responsibility of just one country. This proposal is similar to the proposal from the U.N. Task Force on Financial reform, let by Joseph Stiglitz. The U.S. should join that panel and China in urging the G20 to begin planning for a Single Global Currency. As Justin Fox noted in Time Magazine last week, a Single Global Currency will be good for the U.S.
The success of the euro shows that monetary union is the best way to ensure monetary stability. The primary problem with the euro and currencies of other monetary unions is that they still must co-exist within the international multi-currency system itself where the value of those common currencies must still fluctuate in value against each other.
With a Single Global Currency, there are no such fluctuations, by definition.
If 16 countries can use the same currency, why not 192?
In addition to eliminating currency fluctuations, the use of a Single
Global Currency would eliminate the current foreign exchange trading expense of $400 billion annually, eliminate currency risk, eliminate current account imbalances, eliminate the need for foreign exchange reserves (now totaling more than $4 trillion); and bring other benefits worth trillions, such as reducing the impact of global financial turmoil such as we are now experiencing.
The Single Global Currency Assn. (singleglobalcurrency.org)
promotes the implementation of a Single Global Currency by 2024, the 80th anniversary of the 1944 conference. That’s only 15 years away.
The world is moving toward a Single Global Currency through the
creation, expansion and merger of regional monetary unions. Another route is through international monetary conferences proposals and agreements, such as were seen at Bretton Woods.
The challenge now is to reach that goal deliberately, as soon as possible, with as little cost, and as few crises as possible.
See the book, "The Single Global Currency - Common Cents for the World."
Morrison Bonpasse
Single Global Currency Assn.
Newcastle, Maine, United States

How Long Will the Chinese Let the U.S. Bluff?

The value of a currency depends upon trust. In today's multicurrency world, loss of trust causes a flight away from a currency. It's a risk which a globalized world need not tolerate.
Despite the initial U.S. demurrals, China is correctly leading the way to a Single Global Currency, which necessariy will be managed by a Global Central Bank within a Global Monetary Union. As China requests, this next global currency will not be the responsibility of just one country. This proposal is similar to the pending proposal from the U.N. Task Force on Financial reform, let by Joseph Stiglitz. The U.S. should join that panel and China in urging the G20 to begin planning for a Single Global Currency.
The success of the euro shows that monetary union is the best way to ensure monetary stability. The primary problem with the euro and currencies of other monetary unions is that they still must co-exist within the international multi-currency system itself where the value of those common currencies must still fluctuate in value against each other.
With a Single Global Currency, there are no such fluctuations, by definition.
If 16 countries can use the same currency, why not 192?
In addition to eliminating currency fluctuations, the use of a Single
Global Currency would eliminate the current foreign exchange trading expense of $400 billion annually, eliminate currency risk, eliminate current account imbalances, eliminate the need for foreign exchange reserves (now totaling more than $6 trillion); and bring other benefits worth trillions, such as reducing the impact of global financial turmoil such as we are now experiencing.
The Single Global Currency Assn. (singleglobalcurrency.org)
promotes the implementation of a Single Global Currency by 2024, the 80th anniversary of the 1944 conference. That’s only 15 years away.
The world is moving toward a Single Global Currency through the
creation, expansion and merger of regional monetary unions. Anoth route is through international monetary conferences proposals and agreements, such as were seen at Bretton Woods.
The challenge now is to reach that goal planfully, as soon as possible with as little cost and as few crises as possible.
See the book, "The Single Global Currency - Common Cents for the World."
Morrison Bonpasse
Single Global Currency Assn.
Newcastle, Maine, United States

China's Dollar Crocodile Tears

Responding to Allan Frain, the ongoing movement to a Single Global Currency is similar to the process in Europe leading up to the euro. There is no "cabal" at work here. George Soros supports a Single Global Currency, despite his obvious talent for making vast sums of money from the existing muti-currency system.
Paul Volcker is another supporter of a Single Global Currency, along with Nobel Laureate Robert Mundell.
It's Common Cents.
Do you have any objection to the benefits that you kindly listed for the Single Global Currency?
See singleglobalcurrency.org

Dollar Concerns Are Real

In a globalized world, currency fluctuations are no longer tolerable.
Everyone who uses money is concerned about monetary stability. However, instead of an SDR-based currency as proposed by China and the UN Financial Task Force, which would be difficult to initiate and maintain and which would be incomprehensible to the people of the world; we should move to a Single Global Currency to be managed by a Global Central Bank within a Global Monetary Union. This next global currency will not be the responsibility of just one country. Such a global currency would be used by all the world's 6.6 billion people. What is needed now is international recognition of those goals, and research and planning to achieve them.
The success of the euro shows that monetary union is the best way to ensure monetary stability. The primary problem with the euro and currencies of other monetary unions is that they still must co-exist within the international multi-currency system itself where the value of those common currencies must still fluctuate in value against each other.
If 16 countries can use the same currency, why not 192?
In addition to eliminating currency risk, the use of a Single Global
Currency would eliminate the current foreign exchange trading expense of $400 billion annually, eliminate current account imbalances, eliminate the need for foreign exchange reserves (now totalling more than $3 trillion); and bring other benefits worth trillions.
The Single Global Currency Assn. (singleglobalcurrency.... promotes the implementation of a Single Global Currency by 2024, the 80th anniversary of the 1944 conference. That’s only 15 years away.
The world is moving toward a Single Global Currency through the creation and expansion and merger of regional monetary unions. Another route is through international monetary conferences proposals and agreements, such as were seen at Bretton Woods.
The challenge now is to reach that goal planfully, as soon as possible with as little cost and as few crises as possible.
See the book, "The Single Global Currency - Common Cents for the World."
Morrison Bonpasse
Single Global Currency Assn.
Newcastle, Maine, United States

Currency Fluctuation and Manipulation

China is correctly concerned about monetary stability, and its call for a new global reserve currency is excellent. Everyone who uses money is concerned about monetary stability, and currency fluctuations are no longer inevitable. However, instead of an SDR-based currency, which would be difficult to initiate and maintain and which would be incomprehensible to the people of the world, we should move to a Single Global Currency to be managed by a Global Central Bank within a Global Monetary Union. This next global currency will not be the responsibility of just one country. Such a global currency would be used by all the world's 6.6 billion people. What is needed now is international recognition of those goals, and research and planning to achieve them.
The success of the euro shows that monetary union is the best way to ensure monetary stability. The primary problem with the euro and currencies of other monetary unions is that they still must co-exist within the international multi-currency system itself where the value of those common currencies must still fluctuate in value against each other.
If 16 countries can use the same currency, why not 192?
In addition to eliminating currency risk, the use of a Single Global
Currency would eliminate the current foreign exchange trading expense of $400 billion annually, eliminate current account imbalances, eliminate the need for foreign exchange reserves (now totalling more than $3 trillion); and bring other benefits worth trillions.
The Single Global Currency Assn. (singleglobalcurrency.... promotes the implementation of a Single Global Currency by 2024, the 80th anniversary of the 1944 conference. That’s only 15 years away.
The world is moving toward a Single Global Currency through the creation and expansion and merger of regional monetary unions. Another route is through international monetary conferences proposals and agreements, such as were seen at Bretton Woods.
The challenge now is to reach that goal planfully, as soon as possible with as little cost and as few crises as possible.
See the book, "The Single Global Currency - Common Cents for the World."
Morrison Bonpasse
Single Global Currency Assn.
Newcastle, Maine, United States

China Wants to Transfer Currency Risk Back to the U.S.

China is correctly concerned about monetary stability, and its call for a new global reserve currency is excellent. Everyone who uses money is concerned about monetary stability. However, instead of an SDR-based currency, which would be difficult to initiate and maintain and which would be incomprehensible to the people of the world, we should move to a Single Global Currency to be managed by a Global Central Bank within a Global Monetary Union. This next global currency will not be the responsibility of just one country. Such a global currency would be used by all the world's 6.6 billion people. What is needed now is international recognition of those goals, and research and planning to achieve them.
The success of the euro shows that monetary union is the best way to ensure monetary stability. The primary problem with the euro and currencies of other monetary unions is that they still must co-exist within the international multi-currency system itself where the value of those common currencies must still fluctuate in value against each other.
If 16 countries can use the same currency, why not 192?
In addition to eliminating currency risk, the use of a Single Global
Currency would eliminate the current foreign exchange trading expense of $400 billion annually, eliminate current account imbalances, eliminate the need for foreign exchange reserves (now totalling more than $3 trillion); and bring other benefits worth trillions.
The Single Global Currency Assn. (singleglobalcurrency.... promotes the implementation of a Single Global Currency by 2024, the 80th anniversary of the 1944 conference. That’s only 15 years away.
The world is moving toward a Single Global Currency through the creation and expansion and merger of regional monetary unions. Another route is through international monetary conferences proposals and agreements, such as were seen at Bretton Woods.
The challenge now is to reach that goal planfully, as soon as possible with as little cost and as few crises as possible.
See the book, "The Single Global Currency - Common Cents for the World."
Morrison Bonpasse
Single Global Currency Assn.
Newcastle, Maine, United States

China's Dollar Crocodile Tears

China seeks what every user of any currency wants, which is monetary stability. The best way for the world to secure monetary stability is to move to a Single Global Currency, managed by a Global Central Bank within a Global Monetary Union.
The success of the euro shows that monetary union is the best way to ensure monetary stability. The primary problem with the euro and currencies of other monetary unions is that they still must co-exist within the international multi-currency system itself where the value of those common currencies must still fluctuate in value against each other.
If 16 countries can use the same currency, why not 192?
In addition to eliminating currency risk and currency fluctuations, the use of a Single Global Currency would eliminate the current foreign exchange trading expense of $400 billion annually, eliminate current account imbalances, eliminate the need for foreign exchange reserves (now totalling more than $3 trillion); and bring other benefits worth trillions.
The Single Global Currency Assn. (singleglobalcurrency.org)
promotes the implementation of a Single Global Currency by 2024, the 80th anniversary of the 1944 conference. That’s only 16 years away.
The world is moving toward a Single Global Currency through the
expansion and creation of regional monetary unions and then the merger of those monetary unions. Another route is through international monetary conferences proposals and agreements, such as were seen at Bretton Woods. The challenge now is to reach that goal planfully, as soon as possible with as little cost and as few crises as possible.
See the book, "The Single Global Currency - Common Cents for the World."
Morrison Bonpasse
Single Global Currency Assn.
Newcastle, Maine, United States