Since the advent of Globalization the worlds race to the cliff edge has increased dramatically and in my opinion it has been driven by the arrogance and greed of the United States but now many world leaders have taken a step back and are questioning the rational of continuing on with the US dollar as the worlds reseve currency,some have gone as far as advocating the development of a single, international currency that would be freely accepted by all nations. What do you think, is that a good idea or is it a further step towards a world government?

What are the advantages of a single global currency?

In addition to eliminating currency risk and currency fluctuations, a single global currency would eliminate the need for foreign exchange reserves, which now total more than (US)$4 trillion in underutilized assets. It would eliminate approximately $400 billion spent annually in foreign exchange transactions. A single global currency would increase the global value of assets by tens of trillions due to the elimination of currency risk, and global inflation would be reduced by the management of inflation by a Global Central Bank, whose primary objective is monetary stability. Even in today's economy, that's "real money," as the late U.S. Senator Everett Dirksen would say.
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To only have a single currency around the world as a stand alone proposal would be worse than what we have now. It would have to be linked with a lot of other financial dealings. Namely there would also have to be a price structure of all commodities. Then you would have to have a universal income rate. It all sounds good in theory but could not see it working in practice. As you say we would also have to have one government for the whole world to oversee that it functioned correctly. Could you imagine the size of the cabinet and we think we have enough trouble with this lot. As much as I reckon this system is up the sh** I still think it is better than some of the others.

On the contrary a global currency would stabilize currency fluctuation.
There is approximately 200 separate currencies circulating in the world today and that means billions lost on currency speculation; a single world currency would eliminate speculation, a practice that causes massive currency fluctuations, as many investors have recently discovered, without those fluctuations world prices would stabilize and probably fall, in fact it should have the effect of standardizing world prices.

In my opinion there is more to be said in favour of a single world currency than there is to be said against it; billions is made daily by currency speculators, if you’re wealthy and in a position to gamble on world currencies you can get filthy rich, eliminating that speculation makes a more even playing field. I have a friend who made a fortune buying and selling (speculating) with $US and English £’s, he lives in Sanctuary Gove and recently sold a shopping centre for $AU46 million.