Again, Case for a Global Currency

In the end humanity must win, of course here one is looking into the long term, one can not respect those whose existence is determined by the ethos of in the long term we are all dead, that means they will ruin the present for their own immediate gains, all that led to Lehman brothers eventually declaring bankruptcy and everybody knows what happened after wards.

When humanity wins unfortunately there can only be one currency, a return to ancient times when currencies where transnational except this time on a global scale. Currencies only became national when governments desired to control currencies, this works fine when there are three or four strong economies, but in a world of strong economies, control will be rested away from governments, from the likes of Federal Reserves, Peoples Bank of China and the European Central Bank, these are the central banks that matter right now in the global arena.

Why will there be a push for one currency? This will occur because nobody will agree that somebody else’s currency is more important than theirs, and this is a good thing for humanity, it will bring honesty to the game. No matter what you like, what your believes are, how passionate you are, the reality is people have seen the dangers of one currency dominating the globe, though indeed the Chinese and Europeans wish they would replace the USA currency, a currency under strain because of dishonesty. You can not just print money, US currency was saved by the single act that after world war two America found itself in a favorable position, with all its infrastructure intact and the world needed a currency. But in the long run corruption sipped into the mind of the Central bankers and the government, billions printed for booms and billions printed for war, billions have disappeared in Iraq and Afghanistan, this money must be banked somewhere, this money is not backed by production, the chickens must come home to roost.

Unfortunately knowing human beings and how they are corrupted by power who is to say the Europeans or Chinese will be better managers if ever they are in a favorable position. Hence by logic a single currency must be born governments will have to agree or the people will take it into their own hands and governments will have to enact legislation to prevent this single currency, if governments do not agree, the single currency will be gold and silver, a choice of the free peoples of the world. Gold is having its day though the likes of Roosevelt who confiscated gold by legislation, when it comes to the crunch, peoples rights will always come secondary, and the idiot will say you can bug my phone because I have nothing to hide, no, you have no right to listen to me make private proposals over a phone. Roosevelt a man who leaves by the ethos in the long run we are all dead introduced short cuts, luck for America most of the world is not developed, if it was, US dollar would have seen strains long time ago, maybe why some policy makers desire to continue propaganda that only some can have knowledge.

A single global currency makes sense, however one must be careful of those who want a global central bank, they want to impose a global control of the world, that is not freedom, because the dishonesty at national levels will be taken to dishonesty at a global level. At this point one can not agree with those for example of the Single Global Currency Association, they want a single Central Bank, though one must admire Morrison Bonpasse for starting the association. Why are humans so hell bent on controlling other human beings yet shouting the words freedom at the same time. An anonymous writer from the Washington Times states what the problems of a global central bank are, “Any currency, including a single world currency, can be debased.” (anonymous, Washington Times).

There are several advantages to a single currency as pointed out by David R. Francis of the Christian Science Monitor, to quote, “For starters, the world trades about $1.2 trillion worth of currencies a day. If that market disappeared, it would save companies and individuals hundreds of billions of dollars a year in foreign-exchange and hedging costs.” Quoting david R. Francis further comes to the main benefit of a single currency, “The end of currency fluctuations would also stabilize international business,” this means once and for all it will be about the quality and price of the good not just the price.

A single currency makes sense, let us go back to the days when the known world in each area used a single currency across boundaries, of course now the known world is the whole world.

Bhekuzulu Khumalo

Lower Currencies; The New Trade War

The currency wars are heating up because of the downturn in the global economy since before the collapse of Lehman brothers. Countries now to fuel their export driven economies have understood and realized that paper currencies can easily be managed, if the currency is too high just print more money. Recently the Brazilian finance minister, Guido Mantega, has said that, quoting from the BBC, "We're in the midst of an international currency war," he told a meeting of industrial leaders. "This threatens us because it takes away our competitiveness. The advanced countries are seeking to devalue their currencies."

The Obama administration has taken the first steps towards a currency war with the peoples government of China by declaring that it believes China's currency to be undervalued and that constitutes a subsidy. All nonsense of course, the value of a paper currency is ultimately determined by a government, When China began its industrial leap forward by exporting goods to the West the Yuan was linked to the dollar, why today is it suddenly a problem yet 15 years ago it was not a problem. Many currencies are pegged to the dollar, why are they not declared to be under or over valued because that is a matter of opinion because the market does not play a meaningful role in the value of a legal tender that is paper, that paper is forced onto the people. When the Central banker raises or lowers interest rates when did he consult the people, why does the market not have a hand in deciding interest rates. The uselessness of interest policy has become apparent, Monetary economists just did not understand how economics work, having a friend owning a newspaper and being the only voice does not in the long run mean you are right, you can just quickly make money and the world will see your follies and lies when you are dead, by then you are dead and your offspring have money from the deceit.

Both Obama and the People's Government of China are both wrong and right, with everybody printing money, with others pegged to the dollar but not being targeted by the American bankers/ corporate regime, a true regime, sure you can say what you like, but tell the truth and show they are wrong that is it for you, just be liar and make money and system will love you, is that not a regime. However both the governments of China and USA are right and wrong.

We need a single currency, a currency not controlled by governments, with Obama's election ploy of trade saber rattling with China, gold has shot up, $1 310 per ounce, but true freedom is not what any regime wants, hence they will fight for their printed money, therefore the currency wars have just began, why was Japan not criticized for supporting its currency just recently when government of Japan felt currency had risen too much against dollar, where was the anger from the White House.

Bhekuzulu Khumalo

US China Sanctions: Time for One Global Currency

When people are greedy, their finances go awry. When their finances are in disorder and they are very greedy, dishonesty prevails, the norms of business are disrupted, then troubles and problems occur. From this perspective, troubles and problems come from a dishonest mind. (Han Fei)

Finances are in disorder of many states around the world, the most glaring because of the magnitude of the size of the economy are the finances of the USA, Japan and many European countries. Greed has caused this financial disorder and chaos, greed that led invariably to dishonesty as Han Fei knew it does 2 100 years ago, now the norms of business have been disrupted. Plato, Aristotle could never comprehend such simple logic.

Now that there is chaos, the USA needing a scape goat wants to blame China and China's currency claiming it is over valued. Both sides are right and both sides are wrong, fiat currencies can be printed at will, having men treated like gods and followed at every whim like central bankers who make decisions on behalf of at times millions of people and claim that it is a market decision is sheer falsehood, more dishonesty. Central banks are institutions that have never been needed, there is no justification for them except to control the money supply itself not a justification. Therefore both the USA and China are arguing over something that does not need an argument and that will only cause further tensions as is witnessed by China's response to increase duties on American chickens as the Americans are dumping chickens onto the Chinese market.

The only real solution to perceived over valued and undervalued currencies is to go back to the one currency model that had been around and accepted for thousands of years, from Egyptians, to ancient Zimbabwe, to Greeks and Romans, to Persia and Babylon, that of Gold and Silver. You can put Roosevelt's face on gold and melt it and put Mao face on the same gold the next day because the value comes from the gold and silver content. and the gold moves between countries according to production and value created in that country.

The only way to solve these currency issues is through the world preparing for one currency, a currency that does not require a powerful central bank but relies on the market, the one thing central bankers and monetary economists fear and loath, the market.Sure there will be fools like the Adnan Khashoggi's of the world who will have gold toilets, literally pissing and defecating on money, but most people would be more sensible. The people of the world are speaking, as this article is been posted onto the blog at 2:15pm eastern time on Monday 27 September the gold price was at $1 295.60 per ounce, they are voting with their money.

Bhekuzulu Khumalo