Single Global Currency Assn. 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 Association was established in 2003 and promotes the implementation of a Single Global Currency, managed by a Global Central bank within a Global Monetary Union, by the year 2024. With the successful use of the euro and other common currencies, more and more people and organizations and nations are seeing the advantages of monetary unions.
The goal of 2024 is only 15 years away. If one looks at the world before the 2002 distribution of the euro to the people of the EMU, you would have seen in 1986 a Europe with a Soviet Union, an East Germany and a Berlin Wall. At that time, most Europeans would have scoffed at the idea of a new monetary union and the abandonment of their historic national currencies.
The goal is supported by Paul Volcker, George Soros and Nobel Laureate Robert Mundell. Recently, the Central Bank of China has proposed a new global reserve currency similar to that proposed by the Association.
The Association publishes the book, "The Single Global Currency - Common Cents for the World." The 2008 Edition was published in March 2008 and the 2009 Edition will be published in April, 2009.
Each annual edition contains the original book, plus an Addendum with updates for the previous year.

The benefits of a Single Global Currency include:

Zero transaction costs to exchange currencies. Presently, $3.8 trillion is traded every trading day, and all this trading and its associated costs, approximately $400 billion annually, can be eliminated.

The end of currency fluctuations and currency speculation.

The end of "Balance of Payments", "Current Account" and "global imbalances" problems for currency areas. There will, of course, still be trade and wealth inequalities; but they will not be compounded by the problem of foreign exchange transactions and reserve requirements. There would be no need for countries to maintain international reserves of other currencies.

The end of the need for foreign exchange reserves, which now total a staggering $6.1 trillion in unproductive storage in actual or electronic vaults. That money will be more useful when its current function of supporting an obsolete multi-currency system is eliminated.

Zero manipulation by countries of their currencies, and thus no more need to cajole and jawbone any particular country or currency area about the value of its currency.

Zero risk of national and regional currency crises such as occurred in the 1990's in Mexico, Argentina, Malaysia, South Korea and Russia.

Increased international trade.

Minimal inflation, assuming that the future Global Central Bank sets and achieves a low inflation rate, just as the European Central Bank has done. It's not clear that a zero inflation rate can be secured, as that would bring an economy perilously close to deflation and a deflation spiral, but certainly a low rate of inflation would be better for the world than the current rates.

An increase in worldwide asset values by about $36 trillion due to the elimination of currency risk. Such an increase in asset values will cause annual worldwide GDP to increase by about $9 trillion.

Lower worldwide interest rates, due to the elimination of currrency risk, and reduction of worldwide inflation.

With zero risk of currency failure and zero manipulation and minimal inflation, the Single Global Currency would satisfy the moral obligation that a stable currency should be considered as a fundamental human right, as is the right to own property. A Single Global Currency would be far more stable than the currencies presently used by billions of human beings

The Single Global Currency might be an enlarged transformation of one of the current major currencies (dollar, euro, yen), perhaps with a new name such as "dey", "eartha", "geo","globo" or "worldo" or it might be a new currency with such a name. How we get to that point is, of course, a major challenge, but there are several possible routes. One is to continue the current regionalization of currencies and creation, expansion and merger of monetary unions; and then combine those currencies into one. Another is for smaller countries to continue to "ize" their nations' legal tender, as in "dollarize" and "euroize", as has been done in El Salvador and Monaco.
Compatible with all these and other routes is the need to convene an international monetary conference of nations, monetary unions and related organizations, and begin planning for the implementation of a Single Global Currency.