UN to produce bullion coins as world currency

There would be major issues in doing this. Having a non paper currency would be valuable but making the switch would be immense.

Yes that would help

 

This was a very interesting ride. I'm sorry if it's already there, but excuse me because I am ripped outta my mind, is this going to be placed into effect for sure, or is it only talk?

 

I don't see why having non-paper currency would be the hard part.
We lived off bartering and precious metal coins for much longer than paper.

And the switch would take time, but it doesn't seem impossible.
Look at the Euro, it is thriving.

 

The part "Any licensee, public or private, can produce such bullion coinage under contract" sounds very interesting. This means that the coins will have a value related to the metal it is made from, instead of the fictional value of paper currency, since the production will be less regulated.

(Note that "less regulated" is not "not regulated")

 

Won't it be hard to substitute these new coins for all the paper currency? I imagine it would be extremely difficult to get masses to cooperate with a switch this big.

 

Will they be produced in all languages? Asians and Europeans won't understand English...

 

Wouldn't it cost quite a bit to gather the metals and such and create all of the currency?

 

Very interesting, I myself have though about a global currency. I mean it should make things easier because you can use that currency no matter where you go instead of dealing with exchange rates etc.

Also if this comes out people can say bye bye to FOREX

 

Wow, i really hate bringing around coins no matter what the value. i rather they have colorful dollars/notes in USA that would be very awesome. when do you think the UN will accept this change if i may ask?

 

It seems all reliable sources of this information have been removed *possible misinformation alert.

Either way, the fact that they're using coins instead of paper should come at little surprise. After all, what kind of authority does the UN really have to produce paper currency? None really...I'm skeptical that they'd make any currency at all.

 

I guess this is why i can't watch TV now with out a gold agency wanting to by my family heirlooms.

Surely there going to have to play around with what it will be worth and have some worth a fair bit?

 

History has in no way demonstrated the collapse of all paper currencies, in reality the number which have is far outweighed by the number which haven't.

In any case, gold is only worth anything on the same arbitrary scale as currency, inherently it holds no value.

 

Your post relies on a number of assumptions. First and foremost is the ridiculous notion that 'There is no paper currency older than 1920 which still has any value.' One example, and probably the most important, is the US dollar. Today it is essentially used as the benchmark for world currency, and while it has experienced extreme inflation and deflation, it has in no way collapsed, nor is it likely to in the near future. Infact, it is used as the de facto unit of currency in many third world nations where the currency is too unstable, because of it's stability and universality.

In contrast, I could count with my fingers the number of paper currencies which collapsed during the 20th centuries, which is hardly a basis for an all encompassing law.

While you are largely correct in this statement, not only is coltan far more plentiful and better in most areas, in this case it's uses are redundant.

This is the same as saying paper money is useful because I can wipe myself with it, my point stands that all currency is inherently worth nothing in itself, only as an assumed unit of value.

Besides, if the world's currency was turned into electrical circuits, we'd soon run out of currency!

 

As Plastic is beginning to become the norm, it is very difficult to think we would move back to working with coins/metals.. Coin currency is on the decline as the majority dislike having, carrying and/or using. Interesting article though..

 

There is no real difference between paper currency and coins made of non valuable metals, they are both accepted to be worth more than their actual value.

There have been conferences on many things, and surely you of all people see it is a ridiculous statement for a conference to be some kind of evidence for a theory.

With the possible exception of Germany, the countries illustrated there are by no means anywhere near the most affulent or influential in the world, this can hardly be used as a universal measure.

Have a source on that?

I think we're misunderstanding eachother here. What I intended to say was that a gold currency would have no inherent value because it can be used in electronics, in the same way that paper currency could be used in books, toilet paper or in newspapers.

Currency is by definition only worth what it is accepted to be worth, it having a possible use would have little to no effect, unless the electronics companies were to become in, in essence, the reserve bank.