We used to back our currency with gold and silver when we don't we have what we have now the dollar is worth 7.8 cents now, not so smart.
We need to get back on a gold standard fast or all currency that is not will fail, every one of them.
I believe that life would be lot easier for everyone' sake. When dollar sky hikes, the poor country suffers greatly. I want to do it for Haiti because life is too expensive and the people are leaving a calamity day by day because they don't have and never will enough money to survive.
If their is a unified currency all over the world, then it will be much beneficial to purchase products, mainly oil by every countries in a common price. Now countries like India spends much to purchase crude oil. As the rate of Indian Currency falls in market, the people in India has suffer more on purchasing fuel. This leads to price hike and inflation. So I think it is better to have common currency (US Dollar presently which is believed as an international currency). It will be also helpful to the tourists who travel worldwide that there is no headache of exchange of currency.
Yes it might suit those ignorant tourist who find it convent.
One more reason the USA is looked upon as oily. There are some great people in this country and then there are the well Americans or the people that think all Americans live in the USA. F!@& these people are stupid.
Chile to Canada all Americans for anyone that has never looked at a globe.
Sorry about my vent but it always amazes me when people start talking about being an American. OPEN YOUR EYES PEOPLE!
I believe that some sort of money should be made that the whole world could use for itself. Not necessarily the dollar or the euro, but some sort of money that could be used globally no matter where you go.
I believe that all countries should change to U.S. currency. It would eliminate having to exchange money when you travel. Also every country would have the same money value. It would also eliminate the need for companies that exchange money currency, thus resulting in spending less money on it. I don't see anything negative about changing the currency.
No, I disagree that the countries should change their official currency to the U.S. dollar. If the countries change their official currency to U.S. dollar, there wouldn't be any difference between the countries and values will remain the same everywhere in the world. Also, there will exist arbitrage opportunities in the world, and people would start unfair trade practices.
It is unfair to expect other countries to change their currency to US dollars. It is their country not the United States. We need diversity in this world or else every country is going to become the United States and that is not something we need right now. I don't understand why anyone would feel like it is ok to change another country's currency into our own.
Each and every country should have their own currency. If countries changed to the U.S. dollar then I guess it would not longer be the U.S. dollar then would it. I understand that one currency world wide would be more convenient for some but it would ruin the whole concept. Different countries have different denominations and values of their currency. If it would help in world trade I would understand but I think a better idea would be to have a country wide currency just for that. It would still allow individual countries to have their own currency.
The federal reserve produces US currency and can pretty much produce as much as they want at wits end. Having a one world currency can cause international turmoil because a rocky US market would cause the entire world to feel the effects and cause further instability. Having other currencies will help balance the international stock markets as different currencies prop each other up because they are guaranteed by different countries.
Countries should not change their official currency to the U.S. dollar. If they choose to, that's fine (like The Bahamas), but no one should be forced or encouraged to. In a global marketplace, so many countries are losing their identity and heritage. Countries need to keep those things. The US also needs to step back a little from the international stage as well.
The currency of the U.S. is no longer based on anything of real value. If the dollar was still based on gold as it was in the past, then it would be o.k. for other countries to change their currency. Also, the Federal Reserve is an illegal institution because the U.S. Constitution specifically says there shouldn't be a federal bank. The Federal Reserve is owned by private citizens who have stolen the country's gold and given in return worthless paper. If something happens to our currency, these citizens will be rich and our country bankrupt.
It just does not sound like a good idea for countries to make the US dollar their official currency. I think it would promote disdain in the foreign nationals for the United States. I believe in good relations with foreign nations but we should not dilute their economy with our currency. Would the US like it if another country wanted to make their currency our official currency. Of Course Not!
People see value in exchanges, and like times before would use coin with better values then the other to exchange and trade. If a market currency is beyond reason, it is not at all entirely bad to do so. However, reverting to this also means relying on another printer to keep cash flow steady.
There may be a time when a world currency (U.S. dollar or not) makes sense, but not now. For an illustration of this, just look to Zimbabwe. Suppose everyone changed their currency to the dollar, and the United States somehow elected a leader that enacted monetary policies that caused Zimbabwe-style hyperinflation. Since everyone is using the same currency, we would see an unprecedented crash of the world economy. As it is now, other currencies are unaffected. This makes it so there's a sort of "free market" where the best monetary policies yield the most valuable currencies.
Every nation should have its own currency. It provides a national identity to a nation. The United States and any other foreign country should not impose their currency on another country, nor should another country make the US currency its national currency, thereby removing US dollars from circulation in the United States.