I think it will be either the Euro or the US Dollar, tell me why you agree or disagree, or come up with something different.
2006-06-16 13:32:31 · 7 answers · asked by OobyDooby 4 in Society & Culture ➔ Other - Society & Culture
Well, for the time being OPEC deals with the Dollar as their universal currency, and oil being the base for most of the entire industrial and service oriented world has caused the dollar to remain as the effective currency for world use. Obviously the dominance of the dollar is also a result of historical conflicts and strategies from as early as the end of World War 1.
So long as OPEC continues to use the dollar as its standard the dollar will be the dominant form. The value of the dollar in comparison to other forms of currency is a worthless argument. If it was true that the most valuable currency would be the dominant one we would all be walking around buying things with the Kuwaiti currency. It was worth almost 60 times what the dollar was when I was over there last year.
It is also in OPEC's best interest to maintain the dollar as their medium of exchange for oil as changing that would send our economy (as well as several others) into drastic destabilization bringing them halfway down with us. Of course, this last part is all just theory, or personal thought.
I really suspect that if there ever is a UNIVERSAL currency it will be something completely new. Perhaps instituted by the U.N. or the World Bank.
2006-06-16 13:45:24 · answer #1 · answered by 1235 4 · 2⤊ 0⤋
well its either one of the three British Pound of course US Dollar and indeed The Euro but I think American Dollar will be universal currency cuse its been the currency that countries use for trading.
2006-06-16 13:36:00 · answer #2 · answered by Slick Man's Finest 2 · 0⤊ 0⤋
Euro because it's becoming more powerful than US Dollar.. It's worth more...When I was on vacation in Europe last summer, the things you can buy with Euro was more than what you can buy with US Dollar.
2006-06-16 13:46:28 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Think you may be right, but remember its based on supply and demand, think time will tell. But Europe overall is to socialist so that may be the downfall of the Euro
2006-06-16 13:53:51 · answer #4 · answered by retired_afmil 6 · 0⤊ 0⤋
i think it will be the Yen... the Chinese owns more U.S. currency than we do, and the way that our idiotic government spends money & gives tax breaks to the rich... that is just a recipie for disaster!
2006-06-16 14:23:43 · answer #5 · answered by sigyns_bowl 3 · 0⤊ 0⤋
I think it will be the Yen. It's the only thing the US dollar competes with.
2006-06-16 13:35:47 · answer #6 · answered by cyanne2ak 7 · 0⤊ 0⤋
in my view it can be euro because it has alresdy left the dollar far behind.....!
2006-06-16 13:46:59 · answer #7 · answered by mysheep76 1 · 0⤊ 0⤋