by Francis Harris

Created on: September 16, 2011

While ordinary citizens from different nations across the globe have the illusion that their nation has its own currency - yens, pounds, dollars, yuan, franks and so on - in the world of international trade, central banks and governments nothing could be further from the truth. There is already a common "reserve" currency" - an anchor currency - in which major trading is done and for all intents and purposes this is an "international currency" for the major world powers.

This international currency is used by governments and wealthy international organizations to purchase commodities like oil and gold. Prices for these commodities are even quoted in the reserve currency. For the latter part of the 20th century the US dollar has been the global reserve currency. Prior to that the British pound was a dominant world player, going back to the gold and "pieces of eight" and Greek drachma of more ancient times.

While the elite already have an "international currency" should ordinary citizens have one? Unless you want to maintain the status quo of an imbalanced world where the rich get richer and the poor get poorer the only answer you can give is "yes". There should be a single currency for everyone. Why?

1. The need to eliminate profit from changing money. In the final days of his life Jesus drove money changers from the temple. The money changers made profits from visitors selling them "temple currency", a special money that could be used within the temple to buy animal sacrifices, taking their foreign currency. The exchange rate would vary and during peak times the money changers would make great profits from poor pilgrims simply seeking to worship. The money changers changed the temple from a house of prayer into a market place so that they could increase their profit.

Today across the world ordinary people are still at the mercy of exchange rates set by the powerful. Whether ordinary people want to trade or travel or something else it is the money changers who win. An international currency for all would eliminate the false profits that can be made from exploiting people's need to live and move in different parts of the same planet.

2. The need to level the marketplace. The two tiered world where the rich and powerful have assets in the international "reserve currency" and ordinary people do not means that the marketplace is uneven. The reserve currency allows banks, governments and major organizations to pick the time of optimum trade deals using the mutually

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