by Jennifer Gibbs

Created on: February 25, 2008

Why a Unified Global Currency Is Inevitable...

First off, I feel that it's important that I preface this debate with a little personal background information that might make my explanation a bit easier to digest. I'm a Christian, and a fairly conservative one at that. Politically, I'd label myself a Libertarian, and I've been a HUGE Ron Paul supporter. Admittedly, I work in the global marketplace, and my office is entirely virtual. I sub-contract work out to Canadians at times, I've worked on product launches in South America, over 55% of my income last year came into the US from overseas.

I'm a HUGE fan of globalization.

That said, you might be surprised to learn that I wasn't always so comfortable with the idea of the Global Village. The idea of global unification and streamlining international economies smacked of the one-world government that might just demand that I have some chip implanted on my forehead or my right hand.

Eventually, after careful study, research and real soul-searching, I suddenly began to realize that the emerging global economy, currency and marketplace isn't something that we're all going to get to sit down and vote on one day. We're already half way there.

People pay bills with their cell phones. Fewer and fewer people trust or hold onto cash. We've already become the nearly cashless society - one of those other watermarks moments no one ever thought would arrive.

The gains and loses that can be made in trading currencies alone is enough to let you know that the current system simply isn't stable. There's too much fluctuation. Too much debt. ESPECIALLY here in the United State.

What happens if one day, all of the foreign countries that have been extending us billions and billions of dollars worth of credit suddenly called us on our debt? What would happen to the already weakening dollar?

A calamity of that magnitude would probably be more than enough to overcome our fears of a global currency if it came on the contingency that all past debt were forgiven and everyone started over on a clean slate.

Already, countries that peg their own currencies on the value of the dollar (including China, Russia, India and the Arabian Gulf States) are growing uncomfortable with the turn for the worse the dollar and the American economy have taken.

If the recession continues, the unrest will continue to grow.

Even before the writing of this article, Arab and Middle Eastern states are planning to premier a new "3rd" Global Currency that countries in the Middle East and Asia can begin pegging their currency to, as opposed to the dollar.

Gold, which is also a Universal currency, has seen enormous growth. Back in 2001, gold was selling for $271.00 per ounce. As of February 22, it's gone up to $945.00.

It's quite obvious that the world is ready for a unified currency that eliminates this inflation and confusion and pendulum action.

The next most pressing question is will America do what it takes to prepare for the new economic shift?

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