Karen asked in Social ScienceEconomics · 2 months ago

What are the pros and cons of a global currency?

Venezuela has just decided to slide over to American currency. So what would happen if the whole world used the US dollar?  

5 Answers

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  • Anonymous
    2 months ago

    Does not matter.  The global currency is the U.S. dollar.   Every nation on earth that buys and sells oil must use the U.S. dollar.   Venezuela did not decide anything. The acid test for global currency is the drunk in the gutter in any country.  The U.S. dollar is the only currency that makes them all smile.

  • 2 months ago

    To be a dictator or To not be a dictator.   It is good for the people of the world to stay separated, because if combined we'll have an evil person wanting to control us all.

  • Anonymous
    2 months ago

    It depends on who gets to create this worldwide currency. Obviously international trade would become easier, and inflation would be reduced.

    if the whole world used the US dollar? 

    The US dollar being used as international or oil-currency means the USA can go in debt faster and deeper than anybody else. Doing so is why the USA is "rich"

  • Oiy
    Lv 6
    2 months ago

    The pros are transparency and lower cost as stared by the EU to create the Euro. The cons are more obvious. It cannot satisfy the conditions as an optimum currency area. There are dollarization and Euronization worldwide. But there are chances of collapsing than succession. Argentina is the best example so far.

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  • 2 months ago

    It would be a wonderful thing if for some reason the whole world adopted the American dollar but that's not going to happen right now because the American dollar is not the most valuable currency.

    Right now Chinese Bitcoin is blowing the American dollar to hell

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