Post on 29-May-2018
8/9/2019 Forwards the Global Money
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Forwards the global money
Concept proposed by a lot of thinkers as John Keynes ,Robert Mundell , JesusLizcano and others, in the last decade they had made their own proposed about
the same subject, global money or DUM , DEY , BANCOR or Phoenix depending
on the author but in something that they all agree is that global money refers to
the economic unification between countries in a currency union ,coordinating
fiscal and monetary politics.
Since the last decade we cant denied that we are waking towards a currency
union; in 2009 after the reunion of the G8 , in a press conference the Russians
President DmitryMedvedev showed us the international coinwhich is a project to
replace in a near future the nationals currency .This tendency of simplify
everything have been going around centuries, everything started with theGreek
League of Cities,then with the monetary unification by the Emperor Diocleciano ,
later on it happens the same in England in the XIX century were the gold pattern
was diffused with the objective of ensuring the convertibility of the Esterlinas ,
transforming it in the most used around internationals transactions .The first
attempts of creating the euro as a global currency in Europe goes since the XIX
century to 1979 when they finally could create the Euro However the residents of
the European union countries that adopt the Euro didnt begin using it till 2002 ,
which is the official currency of the Eurozone
,Austria, Belgium, Cyprus, Finland, France, Germany, Greece,Ireland, Italy, Luxem
bourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain and
Estonia is due to join the Eurozone next year(2011).
True the past of the Time there have been some really interesting proposals
concerning global currency but the first one was made by John Maynard Keynes
,his idea was created in 1943 and showed during the Bretton Woods Conference
(New Hampshire , US) this proposal was called BANCOR this propsosal is the
most suggested by the libertarians ,they object that the only point in the
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agendaofevery Keynesian is to lounch money true the central world banc and
allow inflation.
The BANCOR was created with the conception of being a international currency
, manteined and issued by a new organization called International Clearing
Union(ICU);the main idea of the BANCOR was that there wasnt going to be a
dominant country and the price of the BANCOR will be immovable but amend
only by some kind of agreement between the countries.
At the Begiinging the president Rosevelt was really enthusiastic about this proposal
but later on they denied the proposal and opt for the Withe Plan and the
conference finish with the creation of the FMI and the world Bank.
There is a Second Proposal made by Robert Mendell ( Euross Father) he camed
up with a world currency but not unique so every country keeps their own
currency but has an immovable peg with the world currency .This world currency in
mendell Proposal is called international Dollar or Intor .
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