[lbo-talk] Why no world currency?

[Nicholas Ruiz III]

The idea is not, in case there is a misunderstanding, that 'Europe' is in
dire economic distress.  The concept is that the Euro is a way for the
'member' nations to consolidate a collective currency presence relative to
the other major currencies (e.g. U.S., Japan, China, etc.), as a protective
hedge against larger economies and the perceived value of their respective
currencies, relative to that of smaller economies... 

NRIII

Dr. Nicholas Ruiz III
--Editor, Kritikos
http://intertheory.org

-----Original Message-----
From: lbo-talk-bounces at lbo-talk.org [mailto:lbo-talk-bounces at lbo-talk.org]
On Behalf Of Dennis Redmond
Sent: Thursday, February 22, 2007 6:07 PM
To: lbo-talk at lbo-talk.org
Subject: Re: [lbo-talk] Why no world currency?

Dr. Nicholas Ruiz wrote:


> The Euro is more about the protection of the representative value of the
> nations that adopt it, relative to the diminishing value of their
> respective national currencies, fast becoming worthless relative
> to questionable domestic production and profitabiity.

Eurocapitalism is in the pink of health. Profit rates in the EU have risen
sharply, EU firms continue to lead the world in sectors ranging from
machine tools to telecoms, and rapid growth in Eastern Europe has more
than offset slow growth in the West. In fact, it looks like a long wave of
accelerated accumulation may be taking off in Eastern Europe and Russia.

-- DRR
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