Comments on: • Out of the Ashes. A Global Central Bank! http://enlightenedeconomics.wordpress.com/2008/03/12/out-of-the-ashes-a-global-central-bank/ Economics for an Enlightened Age Sat, 29 Aug 2009 05:40:50 +0000 http://wordpress.com/ hourly 1 By: lobobreed http://enlightenedeconomics.wordpress.com/2008/03/12/out-of-the-ashes-a-global-central-bank/#comment-164 lobobreed Sat, 29 Aug 2009 05:40:50 +0000 http://enlightenedeconomics.wordpress.com/?p=31#comment-164 The above three commentators are absolutely wrong. We in America should never abandon the dollar, nor accept the validity of any Global Currency scheme for international trade. This would put Americans, and anybody else on the planet, at the mercy of governmental international banking organizations that can inflate that new world currency at will, just as the FED inflates our currency, and destroys billions of hours of saved labor which the laborers naively tie up in CD's, to be inflated away by the Socialists. We need a precious metal backed dollar, and a severely curtailed government. We also need to abolish the income tax, and start running budget surpluses or at least neutral budgets. After the income tax is abolished, to be replaced by tariffs on products coming from dictatorships and perhaps some other head or sales taxes,along with massively cutting government spending, then we could legalize currency competition (one could use any vehicle, say Swiss Francs or cowry shells, to settle debts). But Socialism needs to continually inflate, so as to rob the producers to satisfy the perceived "needs" of the indolent and massive consumers of resources. Only a radically free-market Capitalism can save the world. --- Silverwolf The above three commentators are absolutely wrong. We in America should never abandon the dollar, nor accept the validity of any Global Currency scheme for international trade. This would put Americans, and anybody else on the planet, at the mercy of governmental international banking organizations that can inflate that new world currency at will, just as the FED inflates our currency, and destroys billions of hours of saved labor which the laborers naively tie up in CD’s, to be inflated away by the Socialists.

We need a precious metal backed dollar, and a severely curtailed government. We also need to abolish the income tax, and start running budget surpluses or at least neutral budgets. After the income tax is abolished, to be replaced by tariffs on products coming from dictatorships and perhaps some other head or sales taxes,along with massively cutting government spending, then we could legalize currency competition (one could use any vehicle, say Swiss Francs or cowry shells, to settle debts).

But Socialism needs to continually inflate, so as to rob the producers to satisfy the perceived “needs” of the indolent and massive consumers of resources.

Only a radically free-market Capitalism can save the world. — Silverwolf

]]> By: Stephen Porter http://enlightenedeconomics.wordpress.com/2008/03/12/out-of-the-ashes-a-global-central-bank/#comment-143 Stephen Porter Sat, 13 Dec 2008 18:00:51 +0000 http://enlightenedeconomics.wordpress.com/?p=31#comment-143 The time for the U.S. dollar as world reserve currency has passed. National currencies should stay within national borders. For international trade there needs to be an international unit of exchange. Modeled after Special Drawing Rights of the International Monetary Fund, we would suggest starting with a trade-weighted average of all currencies in the world. Due to the importance to every nation of the value of the International Currency Unit (ICU), the calculation needs to be transparent. The only way to accomplish this is to have the ICU traded in the markets like any other currency. Internationally traded commodities such as oil and gold would be priced in ICUs. The ICU and national currencies would be fully interchangeable in the foreign currency markets. The ICU would not be printed money and would have no physical existence. It would simply be a unit of account designed to facilitate international trade and flows of wealth. National currencies need to continue so that each nation can control the monetary and fiscal policy appropriate for its needs. However, there would be no global monetary policy and so no global central bank is needed. The time for the U.S. dollar as world reserve currency has passed. National currencies should stay within national borders.

For international trade there needs to be an international unit of exchange. Modeled after Special Drawing Rights of the International Monetary Fund, we would suggest starting with a trade-weighted average of all currencies in the world.

Due to the importance to every nation of the value of the International Currency Unit (ICU), the calculation needs to be transparent. The only way to accomplish this is to have the ICU traded in the markets like any other currency.

Internationally traded commodities such as oil and gold would be priced in ICUs.

The ICU and national currencies would be fully interchangeable in the foreign currency markets.
The ICU would not be printed money and would have no physical existence. It would simply be a unit of account designed to facilitate international trade and flows of wealth.

National currencies need to continue so that each nation can control the monetary and fiscal policy appropriate for its needs.

However, there would be no global monetary policy and so no global central bank is needed.

]]> By: Morrison Bonpasse http://enlightenedeconomics.wordpress.com/2008/03/12/out-of-the-ashes-a-global-central-bank/#comment-83 Morrison Bonpasse Thu, 24 Jul 2008 21:23:08 +0000 http://enlightenedeconomics.wordpress.com/?p=31#comment-83 A Global Central Bank will be most effective if it's part of a Global Monetary Union and if it manages a Single Global Currency. The goal of the Single Global Currency Assn. is a Single Global Currency, managed by a Global Central Bank within a Global Monetary Union by 2024. See www.singleglobalcurrency.org. The Single Global Currency will save the world about $400 billion annually in FX transactions costs. There will be no currency crises, and no currency risk and no global currency imbalances. See, also, my book, "The Single Global Currency - Commmon Cents for the World" The euro has shown the world how a monetary union can focus on monetary stability. The implementation of a Global Monetary Union will likely come from the creation and expansion of regional monetary unions, and their eventual merger. One question remaining will be the asset base, and my friend John Pozzi has proposed global resources to back up such a world financial system. Others favor gold, but most believe that the Single Global Currency will be a fiat currency, as are all the 141 currencies now used by the 192 members of the United Nations. The European Monetary Union already has 15 members, which will grow to 16 this coming January with the accession of Slovakia. If a Central Bank can manage the currency for 16 countries, why not 50 or 100 or 192? The financial leaders of the world should begin planning now for the Single Global Currency to be managed by a Global Central Bank within a Global Monetary Union. A Global Central Bank will be most effective if it’s part of a Global Monetary Union and if it manages a Single Global Currency.
The goal of the Single Global Currency Assn. is a Single Global Currency, managed by a Global Central Bank within a Global Monetary Union by 2024. See http://www.singleglobalcurrency.org.
The Single Global Currency will save the world about $400 billion annually in FX transactions costs. There will be no currency crises, and no currency risk and no global currency imbalances. See, also, my book, “The Single Global Currency – Commmon Cents for the World”
The euro has shown the world how a monetary union can focus on monetary stability. The implementation of a Global Monetary Union will likely come from the creation and expansion of regional monetary unions, and their eventual merger.
One question remaining will be the asset base, and my friend John Pozzi has proposed global resources to back up such a world financial system. Others favor gold, but most believe that the Single Global Currency will be a fiat currency, as are all the 141 currencies now used by the 192 members of the United Nations. The European Monetary Union already has 15 members, which will grow to 16 this coming January with the accession of Slovakia. If a Central Bank can manage the currency for 16 countries, why not 50 or 100 or 192?
The financial leaders of the world should begin planning now for the Single Global Currency to be managed by a Global Central Bank within a Global Monetary Union.

]]> By: John Pozzi http://enlightenedeconomics.wordpress.com/2008/03/12/out-of-the-ashes-a-global-central-bank/#comment-82 John Pozzi Wed, 23 Jul 2008 16:33:37 +0000 http://enlightenedeconomics.wordpress.com/?p=31#comment-82 Dear Mr. Robins, The Global Reserve Bank (GRB) is a world central bank that supports a prosperous community of shareholders. The GRB produces GRB ecocredits equal to the shareholders value of Earth's natural resources. GRB derives income from ecosystem impact charges on GRB accounts. GRB income pays for shareholders communications, ecosystem renewal and earns shareholders a sustainable income. I cordially invite you to review the GRB charter at grb.net. Sincerely, John Pozzi Dear Mr. Robins,

The Global Reserve Bank (GRB) is a world central bank that supports a prosperous community of shareholders. The GRB produces GRB ecocredits equal to the shareholders value of Earth’s natural resources. GRB derives income from ecosystem impact charges on GRB accounts. GRB income pays for shareholders communications, ecosystem renewal and earns shareholders a sustainable income.

I cordially invite you to review the GRB charter at grb.net.

Sincerely,

John Pozzi

]]> By: pam http://enlightenedeconomics.wordpress.com/2008/03/12/out-of-the-ashes-a-global-central-bank/#comment-65 pam Mon, 07 Apr 2008 03:37:57 +0000 http://enlightenedeconomics.wordpress.com/?p=31#comment-65 The world financial system will build itself and Babel will be whole once again. What an exciting time to live! Great thoughts thanks again! (If money was never "sold" via charging "interest", what would happen?) The world financial system will build itself and Babel will be whole once again. What an exciting time to live!
Great thoughts thanks again!
(If money was never “sold” via charging “interest”, what would happen?)

]]> By: Joyce http://enlightenedeconomics.wordpress.com/2008/03/12/out-of-the-ashes-a-global-central-bank/#comment-58 Joyce Thu, 13 Mar 2008 21:59:37 +0000 http://enlightenedeconomics.wordpress.com/?p=31#comment-58 Why a global central bank to print paper money? Why not a system that can not be inflated by politicians and corruptible humans (essentially all of us)? Why not try a gold standard that we know works? Why a global central bank to print paper money?
Why not a system that can not be inflated by politicians and corruptible humans (essentially all of us)? Why not try a gold standard that we know works?

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