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Edward Gonzalez

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Creating a global currency

Government currency as we know it today is a perceived value. We work and are paid based on the perceived value of our work. We pay for products on the perceived value of those products or services. When an economy or government experiences trouble the perceived value of their currency is impacted as well. This can be dissuaded by establishing a global currency. With the advent and growing use of Bitcoin, how long before currency comes in only one form. The Euro is a great example on how many countries can agree to work on one standardized form of currency. With the increase of trade among nations and the internet making it easier for consumers to buy products online developing a standard global currency makes sense.

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    Aug 10 2013: At present almost all currencies can be traded with other currencies, with a global currency most of the exchange and transaction costs will disappear, I think a global currency would have an effect on purchasing power parity of developing nations, however autonomy and sovereignty of smaller and weak nations will be in question, but this might not be a problem because we may see more mobility of human resources across the globe and more international interaction at an individual level because of a common currency.

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