Archive for April 30th, 2015

April 30, 2015

World Currency

wocu

world currency

World currency normally refers to a currency that is transacted internationally, with no set borders, but an alternative definition refers to a hypothetical single global currency or supercurrency, such as the proposed ‘terra’ or the ‘DEY’ (Dollar Euro Yen), produced and supported by a central bank which is used for all transactions around the world, regardless of the nationality of the entities (individuals, corporations, governments, or other organizations) involved in the transaction.

Advocates of a global currency, notably famed economist John Maynard Keynes, have argued that such a currency would not suffer from inflation, which, in extreme cases, has had disastrous effects for economies. In addition, many argue that a single global currency would make conducting international business more efficient and would encourage foreign direct investment.

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