Friday, 12 November 2010

No currency wars within the European Monetary Union

What the world needs is one world one currency.

If the world economy was invented today, no-one would have more than one currency for the whole world.

There are no currency wars within the European Monetary Union or among the different states in the United States of America.

The final solution would be one fiat currency with a constant real value, i.e. zero inflation.

For that to happen the eternally elusive universal unit of real value has to be defined.

Whether that is possible is not clear yet.
Interesting times ahead.

© 2005-2010 by Nicolaas J Smith. All rights reserved. No reproduction without permission.

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