Would it not be better if there was a single currency for all countries in the world?
In theory, there should be no government or small group of people who should decide what kind of money countries or people should have. It should be determined by the free market. A long time ago, when governments did not intervene yet with the type of money distributed, the free market (through the aggregate transactions through supply and demand) determined that gold and silver was the best “medium of exchange”. Please know that money and wealth are not the same. Money is a “medium of exchange”. Once upon a time, people used, shells, rocks, meat, cows for their money. Eventually, because of its ease of use and its properties as a commodity, gold and silver became the medium of exchange (money). Now, with countries “going off” the gold/silver standard, they resorted to creating central banks that “printed money out of thin air”. This dilutes the value of the money. Imagine scarce baseball cards with high value – if more of these cards were printed, the lesser the value of these cards
