One World!!!One Currency!!!

21st Century needs a new currency system, the present system of Central Banks issueing their own currency is bringing impediments for the Global World Development. Monetary Policies of different Central Banks is adversely affecting development process of the different countries. It is also becoming very difficult for the Central Bank Heads to manage their monetary policies. As a result the trade and development process is being affected.

 How can we bring a new global order?

 Single currency for the whole world can be a solution. Where a global central bank will issue a single currency. The bank will issue currency each year depending on the economic value added by the countries. Thus wealth of the world each year will increase depending on every years economic value added.

 In the present system the total amount of wealth in the system remains same unless the Central Banks of each country prints new money. Which has its own merits and demerits. Printing money has great risk of inflationary pressure. Though seemingly you become richer but your standard of living actually decreases. Though in the context you may be working hard amassing wealth the money you will get wont be able to sustain the previous level of standard of living.

 A single currency will eradicate this problem and expedite the world development. Each year there will be investment in in new areas depending on the countries preference.Where the global central bank on a predecided economic value generated, decides on the the doling out amount to be disbursed to the system. In  the present context money is only changing hands and the money  goes to the countries in the form of debts. The amount of money in the system remains the same.

Where as in the single currency world there will be free movement of money. It will totally be a FREE TRADE WORLD. As the currency will be same for each country. Depending on the economic value generated in the country money will be disbursed to them. They will be able to transact in single currency with all the other countries of the world. FREE TRADE will be a realty. Development process will be expedited as new money will be coming each year and expediting the investment in the countries, in the areas they think that will increase their economic value.

FREE TRADE will happen sooner. The standard of living of 7 Billion world population will improve at a much faster pace. We can reach our development goals faster.