Most folks cringe on the concept of a new world order, and I can certainly see their point, as we have far too many layers of government as it is, still we do need standardization and continuity.
After all, the US economy depends on the rest of the world as much as the rest of the world now depends on the US and our strength to buy their products and engage in trade as they build up their domestic economies.
Sure, nothing new there, but I'd like to briefly discuss all this with you, especially on how it relates with the potential break-up of the European Union.
Not long ago, I was indeed discussing this with an acquaintance from the UK who has friends intimately involved in policy and banking.
We both agreed that the EU has no time to engage in scapegoating or blame-gaming as to whose fault their economic crisis should be hung on.
Some there want to blame the US for causing it due to our economic crisis in 2008, even if the London AIG office was an enabler in the whole thing and the EU fed the runaway economic bubble beast - all the while their PIIGS (Portugal, Ireland, Italy, Greece, and Spain) when on a non-ending socialist spending spree.
And, let's not crucify them, the Obama Administration is doing the same thing here at home now.
My acquaintance noted; "Current talks are based around what should of happened years ago in the EU, it's all fine and dandy having the Euro but without a governing body to manage all countries debts/borrowing it only lead to abuse of the system.
" So true indeed, and consider how correct he is, there are no teeth to ensure financial responsibility, nor does any country wish to give up sovereignty, who can blame them, the history goes way back and there is still the trust factor.
I'm almost to point to suggest that the entire banking network go down, no proof of debt of anyone, thus it's all wiped out, "damn, I can't believe this happened, we have to start all over again, so let's, create the ECB as a real central bank like the FED in the US, agree to balanced budgets in all member countries," those that can stay with the new program, those that can't leave, then have those who fall off the balanced budget can go to a second tier program, while the lead nations run the show.
The EU can become the United Countries then par the Euro on the Dollar, and Canadian Dollar.
It would be kind of like a giant reboot, but there are other implications to all that, the interim chaos, and issuing vouchers for debt holders to be exercised like a timed release vitamin capsule to prevent run-away inflation.
Well, this is an interesting topic, one we often discuss at our think tank.
If you have anything to add, let us know, until then please consider all this and think on it.