and what does that have to do with global currency?

u think when one country worked so much and then other people are allowed to compete at the same level will not create hatred and wars

you think globazitation which means scraping away all culture will not create wars and hatred

do u also think racism can be stoped?

so u think people who worked thousands of years should jst let go of their work and let other people take over

man u seem very naive

There is no problem with a international/global currency, there is a lot of problems with all fiat currencies ...

If you had an international central bank where each dollar represented 1/100th of an ounce of gold, and every dollar in circulation had to be backed by 10% of its value in gold held in reserves, it wouldn’t matter how many countries were involved in this currency union the value of the currency would remain sound. Without rampant inflation governments would be (more or less) forced to be fiscally sound, saving money and sound investments would be rewarded rather than credit driven spending and speculation, and a healthy economy would emerge.

The world is naive for fighting so much there's no point and racism is obselete because we're all humans.

There are a lot of problems.

Firstly, the transition cost would be ridiculous. Easily running into the billions of dollars. Then there's the age old question, what should the exchange rate be for superceded currencys? I.e. Would some argue that if we chose the dollar as the international currency, many people could see their life savings wiped out, due to perhaps a weak national currency, or even a short term downward trend that meant atm the currency was of less value against the dollar? And, even in a supposedly one currency bloc, the EU, inflation is a problem. Different countries still have different inflation rates, look at the Eastern European Countries vs Germany etc. A worldwide currency would not iron this out at all. In fact, it could make it worse, as these countries cannot change the currency rate to make their currency devaluate. And the biggest problem is the fact that countries are just economically unique. A one size fits all policy cannot fix this. Look at the EU, their ECB has a tough time balancing its interest rates, with low rates antagnozing problems for countries with high inflation rates and vice versa.

Just would not work I think.

there's no point?what the hell are you talking abt

u wanna live equally to people living in south america,african countries.

racism is obsolete,yeah right

and what does being humans have to do with racism

No, you're missing the point what I'm saying is that I want the world to stop fighting and everyone to stop regarding race to begin with because we are all human nonetheless, I don't see why you're getting so offended and bashing on my beliefs, not like I'm doing that to you.

This is why you would phase out the old currencies slowly over time ...

You introduce the new currency and it begins its life (effectively) as a gold-derivative that is traded on foreign exchange markets. Every time the central bank sells a note they take the money they receive from that sale to buy gold to hold in reserve; allowing them to print more notes for sale. Over 20 or 50 years, existing central banks would sell any foreign reserves they had. Eventually, these currency reserves would be large enough that you could create an exhange rate that is a proportionate distribution of the new currency based on people's holdings of the old currency, and the existing central bank could be phased out.

A global currency may be the best course of action. It is impossible for any one currency, U.S. dollar included, to remain the world's reserve currency indefinitely. That role should naturally go to the most stable currency at any given point in time--for now, it's the dollar. It's only a matter of time before other nations begin to actively challenge the dollar's dominant role--and the "unfair" advantage the U.S. enjoys as a result. We will be left with one of two choices: share the role of world reserve currency with multiple nations or adopt a global currency. It may take a lot of effort to work out the logistics, but at the same time, it may be necessary . . . or perhaps inevitable.

Right now the world lacks the global institutions necessary to have a world currency. So first the world needs to accept the need for global governing institutions and bring them into being, then a universal currency can be established.

The Earth is but one country and mankind its citizens. This is a simple truth, unfortunately most people haven't yet realised it.

As a great man once said. You can't solve a problem using the thinking that caused the problem in the first place. So unless global governance and financial systems are fundamentally changed the underlying problems in the current system will continue to recurr.

Another great man once said: the definition of insanity is doing the same thing over and over again and expecting a different result. I think we have enough experience now to know that what we've been doing for the last 40 years leads to boom and bust economic cycles. If we want to get off that roller-coaster then we've got to do something different. And not just a little bit different but a fundamental paradigm shift.

Return to the Gold standard. Gold standard used as universal standard that values currency in circulation around the world.