Posted by Allison on 5 April 2009, 11:01
If you are familiar with any aspects of the currency markets, or you keep up with the news about financial topics on a regular basis, you may just have heard about the Single Global Currency Organisation.
If you haven't it's an interesting group to get to know. Their name gives away their ultimate goal – to have a single global currency in place, instead of relying on dozens of different ones, as we do now.
This organisation has its own website devoted to the subject, and takes as many opportunities as it can to promote its own agenda. They have certainly been extremely busy of late, as the world's markets struggle against the threat of impending recessions and falling house prices, and economies everywhere are in flux.
What better time is there to promote their own beliefs and get some more supporters on their side?
The President of the Single Global Currency Organisation is Morrison Bonpasse. If there is one key thing we could say about this man, it's that he has been determined in his support of a single global currency, without determinedly shoving it down everyone's throat in the process. He has a quiet confidence in his belief that a single global currency would be the best and the only way to proceed in a world that seems to be moving towards a situation where a single currency would be better than the way we are currently living.
So what is their goal? We know what they want, but how do they want to achieve it? This is no easy task and it is also not something which will be achieved overnight, which is why they have set a date they would like to make it happen by. The deadline is 2025 – although there is no mention anywhere of what they will do if that self imposed deadline is not met.
Their primary goal is to get the word out to as many people as possible. One interesting fact is that they are not aiming for any particular group of people here – you might be forgiven for thinking that they should be aiming to encourage governments and influential economists to learn more about it, making good progress with the people who really matter as a result.
But that isn't their aim. They seem to be focusing more on the man and the woman in the street – no matter what country they are in (since their goal is for every country to sign up to this proposed currency). This is actually a very smart move for the Single Global Currency Organisation to take, since it can often actually be easier to change a government's mind through the people who vote it in or out than it can to change the minds of the people in that government directly.
They have even published a book which outlines their ideas and arguments for ditching the world's dozens of existing currencies and wanting one currency for everyone instead. This will undoubtedly get their message across to a much wider audience.
The fact is that any government they speak to which is opposed to the idea isn't very likely to tell the people of that country about it. Why would they? It might just get them kicked out of power if the general public would rather have a single currency than stick with whatever they are using at the moment.
So it seems the Single Global Currency Organisation is actually very smart in the way it is going about its task. Its self styled way of moving towards its goal is by 'education and persuasion'. There are no strong arm tactics here and that is what will probably ultimately lead to it achieving its goal.
Morrison Bonpasse obviously believes there is a very real chance of achieving his dream within the next seventeen years; otherwise he wouldn't be standing as President of the organisation (which by the way is non-profit). But given the enormity of the task at hand it is still something of a major goal to hit.
They seem to be thinking about the effect of getting a ball rolling though, and that is probably a very smart way to proceed. Morrison Bonpasse has said that if a single global currency came in being and enough of the world's countries joined, the remaining countries wouldn't really need to be persuaded as they would gain more by joining than they would by staying outside of it.
If you read through all the content on the Single Global Currency Organisation's website though, you will see that they don't have an idealised view of what it would be like to actually achieve their goal. It's not simply a case of everyone agreeing to do it and then the change being made over the course of a few weeks. The length of time they have given themselves to achieve the purpose for which they were created is in part due to the time need to persuade everyone, but it is also due to needing time to get everything into place to make it happen.
They know it will be complicated to do but they don't shy away from that. If you haven't seen their website you may be surprised by the apparent honesty of it. This is simply an organisation of people who want to see a specific event come to pass, and they want to convince everyone else that it would be a good thing if it did happen. This is not a radical organisation and it doesn't seem to go in for strong arm tactics either. It simply wants what it thinks is the right thing for the world in general.
If you take a stroll through the web you will find that there are a number of blogs and websites that advocate the use of a single currency – but none gets the same message across that the Single Global Currency Organisation does.
However in a poll taken some four years ago two thirds of the people asked didn't like the idea of one currency. So who would lose out if it did happen?
According to some people we would all lose out, but that is a rather extreme point of view. Morrison Bonpasse knows he has a mountain to climb to persuade so many people of the benefits of it, but that doesn't make it a mountain that is not worth climbing.
So is Bonpasse the only person to be driving this huge campaign forward?
We can get a couple of clues from the website itself. Firstly, when you visit the page which contains details of the book about a single global currency (subtitled 'Common Cents for the World') you will see that it was written by Morrison Bonpasse himself.
But the second clue is something of a shocker. You see, the website itself looks very professional and certainly makes a good impression. But if you visit the home page and scroll down, you will see the visitor count – which is given as a figure occurring since June 2003. At the time of writing, this figure stood at just 2128.
If that is true, Mr Bonpasse has his work cut out if he wants to achieve his goal on time.