Single World Currency

Another definition of the world or world currency is a virtual single created and supported by a central bank used by everyone, such as the proposed Terra or DEY (abbreviation for Dollar Euro Yen). Refers to the world currency or super currency of. Transactions anywhere in the world, regardless of the nationality of the entity involved in the transaction (individual, corporate, government, or other organization). Currently, there is no such official currency. Proponents of the world currencies, especially Keynes, often argue that such currencies do not suffer from inflation and, in extreme cases, will have a devastating impact on the national economy. In addition, many argue that a single global currency makes international business more efficient and promotes foreign direct investment (FDI). There are many variations on the idea, such as being controlled by a global central bank that sets its own currency standards, or being based on the gold standard. Universal Basic Income with daily payments (only applicable on business days Mon-Fri) to meet all needs. Proponents often point to the euro as an example of a superstate currency successfully introduced by a coalition of countries with different languages, cultures and economies. A limited alternative is the World Reserve Currency, issued by the International Monetary Fund as an evolution of existing Special Drawing Rights and used as a reserve asset by central banks in all countries and regions. On March 26, 2009, the United Nations Senior Economist Committee called for a new global reserve system to replace the current US dollar-based system. The panel’s report states: “The significantly expanded SDR (Special Drawing Rights) with issuance adjusted regularly or periodically to the scale of reserve accumulation is the world’s stability, economic power and world’s. It can contribute to fairness. “ Another world currency has been proposed to use conceptual currencies to support transactions between countries. The basic idea is to use the trade balance to get the actual currency needed for a transaction. In addition to the idea of ​​a single world currency, some evidence suggests that the world may be developing multiple global currencies that are exchanged in a single market system. The rise of digital global currencies owned by companies and private groups like Ven suggests that they can offer a wider range of transactions as multiple global currencies become stronger and more widely accepted. Based on a synthetic WOCU currency estimate derived from a weighted basket of fiat pairs covering the world’s 20 largest economies, the WOCU currency is issued and distributed by Unite Global, a centralized platform for real-time global payments and payments. Will be done. Difficulty of Limited additional benefits at an additional charge Some economists argue that a single world currency is unnecessary because the US dollar offers many benefits of the world currency while avoiding some of its costs. But this de facto situation gives the US government additional power over other countries (see, for example, the Iraq War when Iraq wanted to switch to the euro for oil prices). .. It is economically inefficient for the world to share currencies unless the world forms the optimal currency area. Economically incompatible countries In today’s world, countries cannot work closely enough to create and support a common currency. To create a true world currency, there must be a high level of trust among the different countries. World currencies can even undermine the national sovereignty of smaller countries. Wealth redistribution The interest rate set by the central bank indirectly determines the interest rate that the customer must pay for the bank loan. Governments who issue Legal Tender to take responsibility i.e. guarantor all types of loans. This interest rate affects interest rates between individuals, investments and countries. Lending to the poor carries more risks than lending to the rich. As a result of greater wealth inequality in different parts of the world, the ability of central banks to set interest rates to prosper a region is increasingly hampered by conflicting the richest regions with the poorest debt regions. Usury (accumulation of interest on loan capital) is prohibited in some major religious texts. In Christianity and Judaism, believers are forbidden to claim interest from other believers or the poor (Leviticus 25: 35-38; Deuteronomy 23:19). Islam bans usury, known in Arabic as Riva. Some religious adherents who oppose the paying of interest are currently able to use banking facilities in their countries which regulate interest. An example of this is the Islamic banking system, which is characterized by a nation’s central bank setting interest rates for most other transactions.

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