JerryBaumchen 1,039 #1 Posted May 30, 2023 Hi folks, This will be interesting to watch as it develops; if it develops: Brazil president proposes South America currency, as he hosts summit to rebuild regional bloc | AP News It seems to me that the Euro is doing quite well; what it was supposed to do. Well, other than the UK. Thoughts? Jerry Baumchen Quote Share this post Link to post Share on other sites
okalb 78 #2 May 30, 2023 1 hour ago, JerryBaumchen said: Hi folks, This will be interesting to watch as it develops; if it develops: Brazil president proposes South America currency, as he hosts summit to rebuild regional bloc | AP News It seems to me that the Euro is doing quite well; what it was supposed to do. Well, other than the UK. Thoughts? Jerry Baumchen I have no comment on whether this would be a good or bad thing, as I haven't thought much about it. As someone who lives in SA, what I can say, is good luck with that. The organization that it would take to make that happen, is not something that exists even within countries, much less between countries. Also, there is a very serious mistrust of government overreach down here given the history of the region. Convincing the various populations that this would not somehow cause a government takeover of "everything" would be a difficult sell to say the least. The mentality is something that is hard to grasp if you haven't spent a fair amount of time down here. 1 Quote Share this post Link to post Share on other sites
wmw999 2,089 #3 May 30, 2023 1 hour ago, okalb said: As someone who lives in SA, what I can say, is good luck with that. As someone who has lived there (albeit as a child), and who has a decent number of Brazilian relatives and friends, both US and Brazil-based, along with a decent number in Argentina, I concur. Wendy P. 1 Quote Share this post Link to post Share on other sites
JoeWeber 2,265 #4 May 31, 2023 5 hours ago, JerryBaumchen said: Hi folks, This will be interesting to watch as it develops; if it develops: Brazil president proposes South America currency, as he hosts summit to rebuild regional bloc | AP News It seems to me that the Euro is doing quite well; what it was supposed to do. Well, other than the UK. Thoughts? Jerry Baumchen I have Euro denominated real estate investments that are recovering from two years ago. Quote Share this post Link to post Share on other sites
Phil1111 896 #5 May 31, 2023 President Luiz Inácio Lula da Silva is a bit of a nutjob but not as bad as the last president. Countries have their own currencies because they want their own monetary and fiscal policies. Yet not have their hands tied up by currency fluctuations linked to those policies caused by other governments. i.e. if the US used the euro fed fiscal stimulus would not be possible. Interest savings because the US dollar is the de-facto reserve currency for the world would result in higher rates. All S. American countries would have to agree to link the currency to another or basket of currencies. Which would limit borrowing and fix interest rates, more or less. With individual currencies countries can go the route of Argentina. i.e. American republicans! Muammar Gaddafi and other Arab leaders also had similar ideas from time to time. The lowest common denominator of the currency, i.e. country, sort of sets the standard unless all sorts of borrowing limitations and currency controls are not brought in. IMO never go anywhere. Quote Share this post Link to post Share on other sites
JerryBaumchen 1,039 #6 May 31, 2023 2 hours ago, JoeWeber said: I have Euro denominated real estate investments that are recovering from two years ago. Hi Joe, The only things for sure are death & taxes. Now, who was it that said that? Hmmm Jerry Baumchen Quote Share this post Link to post Share on other sites