Single currency is when you get rid of your own.
I'm interested in what forms of value (as opposed to the "anti-value" issued by banks) are capable of crossing borders and what forms of value are naturally bound domestically.
I'm interested in how Mahathir put two fingers up to the global financial system - imposing restrictions on the movement of capital out of Malaysia - and thereby saving his currency form the "locusts".
And much more.
It has on page 13 (of PDF) a section on Currency Substitution. ------------------------------ Rutherfordian RDRutherford
I suppose one could have the Euro circulating alongside freely-floating national currencies. The value of the Euro could be constructed as a currency index. The system wouldn't be vulnerable to attack on the financial markets, but I think people across Europe would still find it inconvenient to convert back and forth. Can the last politician to go out the revolving door please turn the lights off?
I'm interested in the concept of a new Euro as a "European energy unit": in energy grids across the Baltic and North Seas and across the Mediterranean, both of which already have the initial elements in place.
National currencies?
Simply base them upon property rental values, as John Law envisaged three hundred years ago.
As an economy is in transition then GDP per dollar of energy consumption has decreased over time-including in the USA.
But, keep working this through... ------------------------------ Rutherfordian RDRutherford
