Forget bitcoin. Wait for phoenix

In the autumn of this year, a number of foreign and Russian journalists and experts suddenly remembered one publication in the authoritative magazine The Economist. But the publication is not this or last year, but the distant 1988. In the January issue of the magazine for a given year, there was posted a small article "Get Ready for the Phoenix" (Get Ready for the Phoenix).

Here is a fragment from that article: "Perhaps in thirty years, Americans, Japanese, Europeans and residents of other rich and less so countries will pay in stores with a single currency. The prices will be indicated not in dollars, yen or German marks, but, say, in phoenixes. Phoenix will fall in love with companies and buyers, as it will be more convenient than modern national currencies, which by that time will lead to the collapse of the economic life of the late XX century. "

So, the appearance of a single currency was predicted. In other words, world, world. What other important points can be highlighted in the article? The world currency "phoenix" will coexist for some time with national currencies, but gradually there will be substitution of national currencies "phoenix".

Who will carry out the release of the phoenix? The International Monetary Fund or the supranational (world) Central Bank created specifically for this purpose.

What is the currency of "phoenix" for? In order to avoid such troubles as sharp fluctuations in the exchange rates of national currencies. And to promote, thus, the active development of international economic relations (ie economic globalization).

What is necessary to make the world monetary system based on the "phoenix" work? States will have to abolish all currency restrictions, agree to the creation of a world-wide Central Bank, and participate in the creation of a world monetary union. For this, in the long run, we will have to give up national sovereignty.

In what terms is it possible to create a world currency system based on the "phoenix"? An anonymous author called the term of 30 years: "Wait for the appearance of the phoenix in about 2018 and give him a warm welcome." I think that now the reader understands the revival that arose around the theme of "phoenix": in a few months the declared time line will come.

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The article contains a formidable warning that without a new world currency order based on the phoenix, mankind is waiting for hard times: "The alternative - to preserve political independence - will again lead to draconian methods of control over trade and capital flow."

However, the article shows some inconsistencies. In particular, "phoenix" requires the state's refusal from national sovereignty. At the same time, the anonymous author of the article promises that the countries will retain some levers of managing their economies: "The new course promises to countries a beautiful life. Governments could manage exchange rate fluctuations, use monetary and financial policies without hindrance, and fight inflationary outbreaks through prices and revenues. The prospect of growth is ahead. "