Global mono-currency?

Have anyone thought about this?

'What happens to Forex when the world adopt mono-currency system?'

Share your thought on possible events that could lead to this, if so what happens to our deposits with the brokers? What happens to our open positions that are in profit? Will the countries be united? What will our trading opportunities be? And so on.

Feel free to join this Nostradamus predictions brain storming thread, market gurus please share your divine intervention for this forecasts.

See you internet warriors around!

I have been thinking about the same issue. I think fx traders will survive, they would take their capital and their strategies and use them on other markets. However some brokers will die immadiately due to many clients taking their trading capital out of the account. Some might not be able to pay their clients which will be bitter for beginners who have all their money in their trading accounts.

The possibility of a world currency is already there, countries could agree to adopt bitcoin or something similiar, whereby cash would disappear as well. Money could possibly be saved if cash does not need to be produced and most of the world population are ready for exclusively virtual money (credit cards, bank accounts, smart phones etc.) I believe the reason why it has not been introduced yet (and might never be) is that the US dollar is political money (since the vietnam war), there is a lot of play. The US can increase or decrease the value of the US dollar by mere decision, it won't of course make sense with a world currency. Also the US is averse to super stable currencies. Al Gaddafi wanted to introduce gold coins in Lybia. He was taken out pretty quickly.

So unless the US (or maybe another super power) can take over the supply of oil it is unlikely that there will be a global mono currency. But who knows, maybe there are some plans to sneak a unified currency into the global market for some other dubious reasons. Can we trust the politicians?

@shininglight I like what I see , Forex is a politician game and black swan events are trading opportunities. When Canada, Mexico and U.S.A adopts one currency system similar to that of the E.U that could signal the beginning of global mono-currency.

if that happens will be on my view just another currency... only is that will be just like using VISA or MASTERCARD in any country and of course will be strong related to a Commodity. Good luck with thoughts

I highly doubt that will happen within our lifetimes, considering how very different we all are, and how much conflict there is all over the world. Different currencies and Forex trading are here to stay, in my opinion.

I agree with you, way too many ideologies for there to be just 1 or 2 currencies in the foreseeable future...

Global mono-currency?!? I bet, this is the Fed's wet dream!

Fed already introduced two World wars to dethrone the pound as the World currency... I do imagine a global mono-currency to be the reason for the third one, I guess.

There is no way there will be a world mono-currency - if only because there's too much money to be made, too many people profit from the current state of things.

I'm sure we'll find other things to trade, people have been trading pretty well since we learned to talk as I understand it.

However a few calculations on the back of an envelope convince me we don't have to worry about it too much.
If it takes say 5 years to get a general trade agreement between two fairly friendly and cooperative nations with lots of economic, cultural and other factors in common it would have to take around 30 years (even if we all wanted it anyway?) to get a common currency between US, EU, GB, AUS, maybe a few other stable western currencies?,

So at best in thirty years time (really, 'best'?) we'd have one massive currency called the SPLOED or PLOD or GLOD or something,,,,

A bunch of idiots in the middle east still blowing each other up because they're the 'wrong sort of muslim'

Russia screaming it's head off that "The west are all bastards and we didn't want to play anyway"

Africa still corrupt as hell.

South America might decide to do it's own thing perhaps?

India? no idea, I don't think I want to share a currency with people that set fire to young women because it's the 'honorable' thing to do though.

Maybe Japan could join up with Korea and Malaysia or something, no idea.

Maybe suddenly China will get fed up with it all and simply buy the lot out. I'm thinking they might even be able to do it by then.

Trading will still be a thing though . Yay for trading!!