[JohnConnor]

A proposal:

After observing the Greek/European debt crisis begin and start to unfold it appears that grouping unlike nations together in terms of financial/economic capacity via a common currency was one (certainly not the only) factor in the current sovereign debt crisis for Greece...

Therefore, would a new super currency (trans-Atlantic and perhaps trans-Pacific) among nations of similar sized economies and nations that agree to some common smart terms among themselves (debt to GDP below 50% - sustainable energy use at least 25% - resource conservation standards - simple common tax structures - a standard defense to population expenditure-etc...) promote stability and cooperation?

A currency for the nations of northern Europe-USA-Canada-Japan-Australia and a currency for the nations of Southern & Eastern Europe that would give each group greater flexibility to deal with problems as they arise...

As the developing nations rise, if required they could inflate their currency easier if the union of nations involved in it were smaller and in similar economic sizes and negotiate together for better borrowing terms from the capitol markets? It (a Tier I currency) could also require the nations using it, to use their greater resources cooperatively and in focus to solve problems or provide a much more stable base for the world economy.

Treaties and international organizations are ok, but when all your wealth, your national currency is at stake, it will make all the changes we desire happen (purposeful planning, responsible governmental activity amongst nations, etc...)

[Plantagenet]

A proposal: a new super currency ...

Given the ongoing collapse of the Euro, why would any country ever be so foolish as to join another trans-national "super currency" scheme?.

[JohnConnor]

Good point - but just because one country did not adapt well to a trans-national currency doesn't discount the idea of it, Greece and most of the nations of southern Europe weren't ready for the Euro but that doesn't mean the idea of a super currency is not a good one - it is just the first execution of it wasn't done very well...

[mattduke]

I guess a free market monetary system would be asking too much. Everybody wants to rule the world.

[Ibon]

Yawn. Why do we even bother coming up with new schemes and ideas when this will change nothing in the way a central bank and small elite would continue to rig the system to preserve their own privilege. How does one or two global currencies which would be amassing more power to a central elite solve the real problem of the greed of the few setting the agenda. This is the real issue. Consolidating currencies would only make this worse.

I actually believe this will happen. Change is happening. Small change for the masses. Big change for an ever smaller elite. That is the real two tier system we already have.

[JohnConnor]

Consolidating might not make it worse if it is simple and transparent... we try to out do ourselves and account for every possibility to make something fool proof and then build the complex web that someone can manipulate...

Free markets don't really exist because TBTF private & quasi-private/public institutions overwhelm the democratic process with corporate news, entertainment and messaging to influence indirectly the kinds of people we are willing to elect... the referees have to be completely independent of the game to judge it objectively... public officials elected by public financing with longer terms and guaranteed financial compensation after their terms are complete would allow for a far more rational political / governmental process...

[Plantagenet]

Free markets don't really exist because TBTF private & quasi-private/public institutions overwhelm the democratic process with corporate news, entertainment and messaging to influence indirectly the kinds of people we are willing to elect... the referees have to be completely independent of the game to judge it objectively... public officials elected by public financing with longer terms and guaranteed financial compensation after their terms are complete would allow for a far more rational political / governmental process...

Your idea of electing government offiicals with longer terms is a bad one----it would just make the politicians even less accountable to the American people in elections when they screw up.

Thank god all of Congress is held accountable in elections every two years so we've at least got a shot at putting a check on the damage that Obama and the democrats have done to this country in the two years since they took over control of the White House and both houses of Congress.

[JohnConnor]

The average member of the House of Representatives must raise on average over $1,000 per day to be competitive in their next race only two years away and a competitive race is up to $2,000,000 averaging over $2700 ... how is it even remotely possible for them not to be bought and sold? Money is a means of political speech but it is speech with a bullhorn compared to public financing which is a calm discussion...

[Plantagenet]

Money is a means of political speech but it is speech with a bullhorn compared to public financing which is a calm discussion...

No politician is going to support public financing after the 2008 election. Obama killed off any hope of public campaign financing in the US when he reneged on his promise to comply with the existing McCain-Feingold public financing law and went on to win the 2008 presidential election by raising huge amounts of corporate money and breaking all prior spending records, The ball game for candidates now isn't to go for public financing, but to raise as much money from the private sector as possible to avoid being "Obamaed", i.e. to avoid being outspent by 3 or 4 to 1 as Obama outspent McCain.

[JohnConnor]

Probably true unfortunately... I was initially hopeful about BHO but after watching his first address to the Congress in January, I knew he was not a turning point but just another milepost on the road to decline... it was all about borrowing money, pretty much the last thing this nation or it's average citizen needs to do at this point...

[IslandCrow]

Given the ongoing collapse of the Euro, why would any country ever be so foolish as to join another trans-national "super currency" scheme?.

Estonia is planning to join the Euro. One point in its favour is that if it joins it will be the ONLY country meeting all the criteria for Euro membership, something not even Germany and France are doing.

My guess is that with a population of only 1.3 million if feels that it is to small to face the massed wealth of the speculators bankers if they would turn on them.

[JohnConnor]

probably the best move they can do - if all the Third World nations (Estonia is not a third world nation) would join together to prevent debt gouging, arbitration of their currencies, collective bargaining power, etc... they could put themselves in a far better position to deal with the speculators of the Wall Street and London, also with the Chinese who are buying mineral rights everywhere they can...

[PrestonSturges]

Money is a means of political speech but it is speech with a bullhorn compared to public financing which is a calm discussion...

No politician is going to support public financing after the 2008 election. Obama killed off any hope of public campaign financing in the US when he reneged on his promise to comply with the existing McCain-Feingold public financing law and went on to win the 2008 presidential election by raising huge amounts of corporate money and breaking all prior spending records, The ball game for candidates now isn't to go for public financing, but to raise as much money from the private sector as possible to avoid being "Obamaed", i.e. to avoid being outspent by 3 or 4 to 1 as Obama outspent McCain.

Two Points:

1) SCOTUS (ie the radical Roberts court) just effectively outlawed public financing

2) You're trying your usual threadjacking

[idiom]

The current crisis is caused *purely* by an inability to balance a soverign budget.

No currency solution can make up for political ineptitude.

What the Euro has done is wreck these countries early for their fiscal mismanagement instead of letting them dig the hole deeper for decades.

It is forcing austerity on everybody. This is a good thing.

[JohnConnor]

Exactly - forcing austerity or really just common sense by linking everyone's economic fate together... a common currency amongst the largest industrialized nations with significant requirements for membership is what is required - it does the world no good if Germany goes "green" and gets serious about efficiency, sustainable power, agriculture, etc... if no one else does, but if the G-8 or G-20 countries had to commit and actually do responsible economic, environmental and social policies together because their money depended on it, the world might actually change...

Long and for the most part successful partnerships have been the norm for defense for 60 years or so, this century must have these partnerships for sustainable & responsible economies/societies...

[idiom]

Exactly - forcing austerity or really just common sense by linking everyone's economic fate together... a common currency amongst the largest industrialized nations with significant requirements for membership is what is required - it does the world no good if Germany goes "green" and gets serious about efficiency, sustainable power, agriculture, etc... if no one else does, but if the G-8 or G-20 countries had to commit and actually do responsible economic, environmental and social policies together because their money depended on it, the world might actually change...

Long and for the most part successful partnerships have been the norm for defense for 60 years or so, this century must have these partnerships for sustainable & responsible economies/societies...

The Euro will be fine as long as nobody trys to bail anyone out.

[americandream]

Shift the deck chairs all you like but the Titanic class ship, Kapitalism, is on the way down having suffered a fata blow from the unseen iceberg, finite resources, the moment she set sail on her maiden voyage.