Folding the US Into a Single Global Currency
The U.S. dollar is one of many symbols of U.S. power after World War II and after the end of the Cold War, but we are now in an increasingly multipolar collegial world, according to Morrison Bonpasse, president of the Single Global Currency Association. A multicurrency system simply does not provided the stability now needed, he argues.
Theodore F. di Stefano - 11/03/09
There have been several suggestions by China, Brazil, Russia and other countries, and by a U.N. Commission headed by Nobel Laureate Joseph Stiglitz, as well as by the United Nations Conference on Trade and Development for a new global reserve currency to replace the U.S. dollar. Increasingly, the media are running stories and comments about the “demise of the dollar.”
Recently, I asked the president of the Single Global Currency Association, Morrison Bonpasse, about his take on the future of the U.S. dollar and the global monetary system. In previous interviews, we’ve explored the idea of a single global currency.
Tags: One World Currency