Finance, Forex and Investments

Can World Currency, run by a World Government and World Central Bank work?

I always wondered this? I know the Euros didn't work because the countries within the Eurozone printed the money, instead of EU Central Bank. What if a world currency was printed by Central bank of a World Government? Can it work? What I'm asking s World Government and World Central bank work and Single World Currency work?

Public Comments

1. No.
2. Only if the currency is backed by gold. Otherwise, you are asking for a revolution and a never-ending global war.
3. for the ordinary common 5/8 yes for the greedy ultra rich probably not
4. No, history tells us that empires collapse, and what you are talking about is bigger then any empire ever seen.
5. Under the current economic system, no. It'll never happen, anyway.
6. Any currency, whether it be a world currency or a household currency, has to be backed up by something of value, rather than empty promises and bits of scrap paper. What happens if it isn't, is that paper prices for anything that is worth anything go through the roof. Those who have hoarded paper money need to wheelbarrow it in by the hour or it will be worthless in the next. Those who sit on anything of real worth have to guard it carefullly against desperate and ruthless robbers. Using it in business is a non-starter unless you are very shrewd against a number of very clever and successful con artists, quite capable of using their existing wealth to strip you of yours. A lot of us do not feel we are put in this world to live like dogs, and cannibal dogs at that. Safest is to dig a hole in the ground and bury it in a secret place known only to a very few trusted folk. Treasure Island, anyone? A world bank can only work if it is not over-run by those who demand constant and massive bail-outs to cover their debts. It took Germany 10 years to recover from bailing out the DDR. Greece, Ireland and Portugal can just about be covered by the French and the Germans, but I doubt Spain and Italy can be. The big question is how a World Bank could cover a multi-trillion dollar deficit debt run up by the United States of America. Most Chinese people are preoccupied with looking after their own elderly relatives.
7. Well seeing as the euro was set up in 2002 and is set to fail about 10 years after it was introduced I suggest it would be impossible to achieve that and it is above totalitarian 1982 standards
8. There are a lot of variables that would need to be answered first, but a glib response would be yes. However, why would a world currency need a central world bank, and why would a world currency need to be controlled by a world government? All things being equal, any one of these things could exist separately without the other.