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Sebastian Helenius

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A Single World Currency and a World Central Bank - For or Against?

The debate is in the headline. Any opinions?

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    Aug 19 2012: there is a trend going on for hundreds of centuries. it all started with fractional reserve banking. as the establishment sided with it, and banks were free to overissue notes without risking criminal charges, the world's descent into madness began. at the first stage of madness, bank runs ended the local credit expansion of individual banks. the threat of a bank run put a limit on expansion. soon, the banks sought remedy for bank runs. the solution was the central bank, the second stage of madness. with the central bank, entire countries were able to expand the amount of notes and lower the reserve ratio in a synchronized fashion. together with government guarantees, the era of bank runs ended, and the era of continued inflation arrived. but there still is a limit to inflation, and that is the competition between currencies. so as expected, governments now seek ways to put an end to currency competition or ultimately synchronize their credit expansion. competition limiting laws are in effect in every country. and central banks everywhere on the globe put great effort in synchronized inflation. but sooner or later that system can not be maintained anymore. and at this point we need to get to the third level of madness: unifying all the currencies. then, with competition perfectly excluded, the world will be finally set for the great collapse of the entire monetary system. the final bank run. we don't know whether this final stage will be reached, or the system will fail before that. but the tendency is clear.
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      Aug 20 2012: Agreed! Now if we could just create a cushion for the economy before its ultimate collapse? New World Order?

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