worth watching, when you have 3 hours spare: http://www.elitetrader.com/vb/showthread.php?s=&threadid=89470&highlight=the+money+masters
By eliminating competition between currencies (which tends to punish the most inflated currencies and reward the least inflated ones), a world central bank would eliminate the last check on inflation. It would amount to a world cartel of official counterfeiting from which only the state and its connected interests will benefit. If that happens the game is over. George Orwell will be proven right. However the question is whether it is actually doable to put the world under one umbrella. They will sure keep trying (GW etc.) There are too many conflicting interests,differences of all kind which would prevent that from happening. Think of UN basically first world organization. After 80 or so years still worthless and impotent. In the book "Sovereign Individual" authors explain impossibility of true world government by example of march regions in medieval Europe and high seas argument. I am too lazy to elaborate.
That's right. There is no way a world currency could ever survive. The euro has lasted so far because the world economy its in good times. When things start to bad with the US and China suffering what do you think the french government is going to say?'We screwed up the economy sorry guys' yeah right they'll say 'trichet lower these fking rates or we'll pull out' they had no problem telling EU go f themselves with the EU constitution
The Japanese have had just about the right amount of inflation during recent years, ZERO percent. During their post-bubble era they have managed to emulate the gold standard as well as a fiat money system ever could. The US would do well to follow the Japanese example in monetary policy during the coming recession. Of course a gold standard would be better still. But Japanese fiscal policy with out-of-control government debt has been completely reckless. Unfortunately, the US is certainly going to follow this example. In fact, already is following.