Global Currency Speculation - PART 4 Isokratia Global
Currency speculation I believe is anathema, to real economic growth. Currency at it’s present paper form value, I believe should not be a tradable commodity. Currency is not a product out of production line. Currency is not a service with a tradable value. Currency is not a consumable product or service. Yet that’s what currency it is being treated as, by the money speculators.
Currency trading and speculating only developed, or came to be due to systematic interference by governments into their currency value, through various manipulating actions such as the control of rates of interest, devaluations and other government policies. As such we can easily identify the present state of currency speculation and trading as one of the ailments developed from within the capitalist system. An ailment, which I believe, has to be identified and removed for the benefit of the capitalist system and it’s survival.
Currency is no longer backed on it’s value by gold. It used to be, that £100.00 of British currency notes or US dollars could be exchanged for £100.00 worth of gold. That has long not been the case. ( Not that advocate any real difference between gold standard and abstract standard). There is no production value, no cost of production, no sale value, just pure, speculative value. Pure speculative value for a means of exchange value.
I believe the solution or cure for that matter to this present state of wasteful trade and speculation in currency is the introduction of a single global currency. That s why I foresee an eventual state of a single global currency. I know it will take time. It is though, only a matter of time. Furthermore it could be the only real long term solution.
Perhaps that will be the optimum currency requirement, for a truly global economy. The fortunes of whole countries, will no longer be subject to the might of the few. Powerful financial institutions and their governors, be it a country, a group, or an individual, they will no longer be able to cause the collapse, or the upheaval of a national economy. Perhaps true competition can then be possible, around the globe. A single global currency, serving the consumer, serving the entrepreneur, serving the state, serving the open market, without the waste generated by today’s multi currency model.