One World Currency? Speading the Wealth Around?

United States
April 4, 2009 8:15pm CST
In the United States there has been a call for a one world currency by China. The US seems like they are open to te idea. Do you think the US government is spending out of control to distroy the dollar? Are you for or against a one one world currency? Are you for free trade or do you think the US should just spread the wealth around? I am most interested in hearing your replies.
1 person likes this
3 responses
@gewcew23 (8011)
• United States
5 Apr 09
Obama would not be able to do what he is doing if America was still on the gold standard. When gold was backing the dollar, gold act like another regulator to government spending. Without the gold regulator the dollar is only worth as much as the amount of dollars in circulation to national debt. If we continually spend and print the value of the dollar will plummet. Even though I think that a one world currency would be a terrible idea, our monetary policies are pushing other countries to at lest entertain the idea. All western currencies are pegged to our dollar as a quasi-gold standard. With our dollar losing value their is no longer a currency to turn to as a safety net like the gold standard once was.
• United States
5 Apr 09
Do you know why they no longer back the dollar with gold?
1 person likes this
@gewcew23 (8011)
• United States
5 Apr 09
Because the Federal government wanted to spend what ever they wanted to. Fiat money gives governments the option to print and spend. Richard Nixon in 1971 was the man who took the dollar of the gold standard. His reason was to pay for the Vietnam war and LBJ's Great Society Nixon needed to print.
@Adoniah (7515)
• United States
5 Apr 09
China is pushing for a one world currency because it would help them. As the dollar declines, it really hurts the chinese markets. We are pusing their economy down further and further especially when we print a bunch of extra money like we just did a couple of weeks ago. I AM NOT FOR A WORLD CURRENCY!!!!!! It would destroy our Soverignty and our economy. It could cause us to become a third world ecomomy with all of the debts we have. No we have to vote out all of the idiots in Congress, figure out a way to get Obama out of office and start over. Shalom~Adoniah
• United States
5 Apr 09
And then a new world order. YEs we are spending like teenage girls who have just gotten a hold of their daddies credit card for the very first time. But a one world currency is a cop out that would inevitably do more harm than good in the end. More counterfeiting, less control, no balance in the systems. Yes there is the whole, beautiful idea of the "peace on earth" and "all becoming one" nonsense. But this can only really lead to more wars.