Morrison Bonpasse

Heads Up on the Dollar Today: The World's Reserve Currency Is Changing

The world should be grateful to China and to the U.N. Commission on Finance Reform for leading the way to a Single Global Currency, which necessariy will 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. 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.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 of monetary unions in the Caribbean, Europe and West Africa, and the creation of monetary unions in Africa, Asia, the Middle East, and North and South America. 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

The Future of Forex: Global Currencies Contracting

The number of currencies used by the UN's 192 members dropped to 141, with the adoption of the euro by Slovakia this past January 1. Next year, with the adoption of a common currency by the Gulf Cooperation Council, the number will drop by an additional 4.
The success of the euro shows that monetary union is the best way to ensure monetary stability. If 16 countries can use the same currency, why not 192? The only problem with the euro's stability is that it exists in a multicurrency world. We should expand existing monetary unions and create new ones, as is now planned for the Persian Gulf, East Africa, South Africa and South America.
In addition to eliminating currency fluctuations and risk, the use of a Single Global Currency would eliminate the current foreign exchange trading expense of $400 billion annually, eliminate global imbalances, elminate the need for expensive foreign exchange reserves, eliminate currency fluctuations, and bring other benefits worth trillions.
The Single Global Currency Assn. promotes the implementation of a Single Global Currency, managed by a Global Central Bank within a Global Monetary Union, by 2024, the 80th anniversary of the 1944 Bretton Woods conference. That's only 15 years away, but it only took ten more years to create the euro after the publication of the Delors Report in Europe in 1989. The Assn's website is singleglobalcurrency.o.... See, also, the book, "The Single Global Currency - Common Cents for the World."
Morrison Bonpasse
Single Global Currency Assn.
Newcastle, Maine, USA

Book Review: The Return of Depression Economics and the Crisis of 2008, by Paul Krugman

You are right that nations need to work together on finance and currency issues. They can work together to standardize money, just as we now have standardized computer and other measurement standards. The recent G20 conference and coordinated interest rate changes are first steps toward part of the long range solution to the world's global financial instability, which is 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 the multi-currency system itself
where currencies 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. 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 creation of monetary unions in Asia, North and South America, Africa and the Middle East and the expansion of monetary unions in West Africa, the Caribbean and Europe.
The Assn’s website is singleglobalcurrency.o.... See the book, “The
Single Global Currency - Common Cents for the World."
Morrison Bonpasse
President
Single Global Currency Assn.
Newcastle, Maine, USA

The FX Race to the Bottom

Currency fluctuations are unpredictable, expensive and risky. The solution is to move the world to a Single Global Currency. The success of the euro has shown how a regional central bank can manage money for 15, soon to be 16, countries. Why not the 192 members of the United Nations.
The goal of the Single Global Currency Assn. is to establish a Single Global Currency, managed by a Global Central Bank within a Global Monetary Union by 2024. See singleglobalcurrency.o....