Monday, February 15, 2010

One-World Currency Spells Global Economic Disaster

One-World Currency Spells Global Economic Disaster

A single, global currency would spell disaster for virtually all of the world's population.

There are an array of potential issues that would adversely affect the average citizen, one of which is the issue of competing banks who handle the printing and management of currencies for each respective country that has its own currency. Who gets to determine how the contract is awarded to oversee the printing of this new one-world currency?

The myriad of problematic financial issues that accompany the concept of a one-world currency are very real and must not be overlooked. For example, how are lending rates determined and do the same interest rates apply for lenders and borrowers in different countries? Will mortgage loans issued in the United States be identical to those issued in China or Belize?

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