So some OPEC countries may go Euro? Here's a mind bender. Why don't we?

[JanMichael]

Just a crazy Saturday night idea. Fact is the World will continue creeping toward the Euro, whether we like it or not, so why not beat them all to it? We can't invade every country that switches, like Venezuela and who knows who else in the future, and it will sack our currency.

What would happen if we did?

How would it effect US bonds?

How would it effect people?

[w13rd0]

1. Haha, most places here...

...aren't really equipped to handle dealing with Euro currency, but it would be a hoot to walk into a Burger king and buy a Whopper with 5 Euros and ask for correct change...

[JanMichael]

2. Oh I'm sure we could adapt fast enough.

If I could go to Poland and do business with the Zloty then there's no reason why we couldn't transition nicely.

But you're right about the fast-food scenario, it'd be a hoot for a time.

[Dirk39]

3. The USA would be bancrupt...

The only reason that the USA don't fall apart economically are the investions from foreigners, who believe in the strength of the Dollar. If the USA would switch to the Euro, noone would have a reason to invest into the USA anymore. The trade deficit would fully show its' results and the USA would lose about at least 20% of its' wealth. It would be a desaster. One reason for the Bush and co. to let their muscles play and show - how succesfull or not - how strong the USA is, is their fear to lose the investions. For the same reasons they didn't dare to offend Saudi-Arabia. 20 Billion Dollars would be missing in a day...
The USA would need a complete different economic strategy and they would need decades to start (re-)building and developing production facilities within the USA. So far, the USA lives from other peoples work and money.
Hello from Germany,
Dirk

[sushi]

4. There are so many ignorant people

in the US who think that the US doesn't need the world. The US has invested billions in other countries and other countries, especially the rich oil producing, Muslim, ones, have invested billions in Christian US and Europe. It's high time the ignorant in the US learn that we're all in this together and that we all need to get along. There should be no country lording it over others.

[uberotto]

5. The US has spent the last 30 years trying to convert the US to the...

Metric System, and you see how well that's going...

By the way, I just bought a car that gets 21 kilometers per liter
( I think that works out to approx 50 miles per gallon ).

[Paschall]

8. No more

We did spend a few decades and a few billion on it, but Reagan killed the metric project shortly after taking office. 'S been dead over 20 years.

[RandomUser]

6. No way

Even some nations in the EU aren't going with the EURO. Just this past month, didn't one of the EU nations reject the Euro even after the foreign minister promoting it died?

The Euro has uses, but it won't become the single world currency anytime soon, nor would I want it to. A single world currency, whether dollar or Euro, will create major drawbacks, which is why some EU countries rejected the EURO.

[sushi]

7. "Creeping" is the right word

Britain, Sweden and Denmark haven't adopted the Euro yet. It will take many years. I think the Brits will be the last ones because they're so afraid to "lose their identity."
I understand even switching from imperial to metric was traumatic, but I have noticed that some European habits, like men greeting each other with a kiss on both cheeks, are slowly being adopted in Britain, so I think and hope that Britain joins the EU before too long. As for the US adopting the Euro, that's very funny.