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The question could a single global currency work? Is a question that in order to be honestly answered must take into account three pressing issues.

1) Economics.

2) American National Sovereignty.

3) The rule of law.

The United States Constitution clearly gives the U.S. Congress, the authority to "Coin Money". Because in 1787 the year the U.S. Constitution was ratified, people used only coins not paper money to make purchases,it is phrased that way.From there in 1789 the U.S. Congress created a government agency, the U.S. Department of the Treasury to perform this task. From there the U.S. Government switched over to paper money. And today the U.S. Department of the Treasury prints the paper money as well as the coins that we Americans use. The U.S. Treasury Department can only print money, because Congress lets them.

So in order to create a brand new world where everyone in America, Canada, Mexico, England, German, Italy e.t.c. is using the same currency. In order to create an International common currency, whole sections of the U.S. Constitution would have to be abolished. And then if the U.S. Constitution was amended, to eliminate the ability of the American government to control its own economy. American National Sovereignty, American Economics, and of course since we are tossing out the Constitution, American rule of law would all be violated. Once an International organization can print money and force people in America to carry the same dollars that people in Germany and England carry. The U.S. Department of the Treasury, The Federal Reserve Bank, the U.S. Congress, and the President of the United States would all be at the mercy of some International organization. A country that can't control its own economy,is not a country. And a country can't control its own economy, if it can't even decide how much money it wants to print. Since it now shares a currency with the rest of the world.

And if such a large chunk of the U.S. Constitution, the whole section that deals with printing money can be abolished. Then all the other parts of the U.S. Constitution could be disregarded as well. And then in what other areas of day to day life, would the American government have to surrender control to this International money printing organization? So there is no way that the United States of America could join the rest of the world in instituting a common currency without violating its own national sovereignty, rule of law, and Constitution. So no a single global currency used by the whole world would not work.

Learn more about this author, Andrew Freedman.
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