Re: Global Currency System

["prakash chandrashekar" <prakash7uc@rediffmail.com>]

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MV, 

we have a limit for what we can achieve. We can have atmost, an energy
currency in one country. How can, the turning of one country, say India to
an energy-based currency help ?

How will it  benefit the pioneers to convince the followers ?

prakash


------------- Original Message --------------
"MV" <maxv@vsnl.com> wrote:
To:<debate@indiapolicy.org>
From:"MV" <maxv@vsnl.com>
Date:Mon, 9 Apr 2001 11:34:45 -0700 (PDT)
Subject:Global  Currency System


Hope now most of us understand globalisation without
a global currency system will become the biggest scam
in human history comparable to slavery.

Energy mobilisation is the key aspect of trade in
goods and services this was true from the time of the
barter system. Major corruption in trade system happened
with fiat currency system and the large scale use of
fossil fuels, without considering the global impact/cost
of using the fossil fuels.

All i am saying is the global currency system should
consider/reflect the energy mobilisation in production
of goods and services, that is the vary *basis* of trade.
The current international monetary system does not
consider this, hence the system gives undue advantage
to the developed nations who use huge amounts of
fossil fuels, without considering global impact/cost
of using fossil fuels.

The technology is all about doing things in a more
cost effective way, but when we say cost effective,
we have to consider the cost of using fossil fuels,
if a process of manufacture uses more energy then it
should reflect in price of the goods produced.
Today's currency system is not based on energy, hence
it does not reflect the cost of energy use.

Many advanced technological process we use today for
manufacture/production of goods are not cost effective
compared to the earlier process that used more manual
labour, this will become obvious if we have a global
currency system based on energy that automatically
account for the use of more fossil fuels in case of
the advanced technology process.

Major impact that energy based global currency system
will have is hourly rate of unskilled labour will
become the same all over the world, the remuneration
for same skill level will also become similar all over
the world.

The large difference in the hourly rate of unskilled
labour in different parts of the world is the proof
of the international currency system scam.


MV.



>
> From: Abhijeet Pradhan
>
> The closest you will come to achieving that is a common currency.  You can
> never have a common fixed measure.  Not energy units, not gold nothing.
> Technology will continously change the effort required in refining oil,
> mining gold, growing calories on farms etc etc.
>
> Later
> AP
>
> --- MV <maxv@vsnl.com> wrote:
> > >
> > > From: Srinath S <srinaths@usa.net>
> > >
> > > Well, the stock market being implemented like a usual commodity market
> > may
> > be
> > > the cause for many instabilities resulting from globalization. In
> > reality;
> > > money is an abstraction that represents value (commodity or service)
and
> > not a
> > > commodity itself.
> > >
> > > Sure it *is* treated as a commodity, and my conjecture is that this
> > premise
> > > would come into greater scrutiny as the reach of globalization
expands.
> > >
> >
> > I fully agree with Mr.Srinath money is an abstract
> > tool for representing/quantifying the value of goods
> > and services.
> >
> > In the current International monetrary system, this
> > abstract tool itself is changing every day, it is like
> > if the meter changes it's length every day, you can
> > imagine what it will do to mesuring length.
> >
> > True globalisation of trade in goods/services will
> > come into effect only when we use a common monetary
> > system like we have a common measure, *meter* for
> > length.
> >
> > MV.
> >
> >
> >




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