Council on Foreign Relations Says; Monetary Nationalism, Sovereignty, Should Be Abandoned

Goodbye U.S. Dollar, Hello Global Currency
The director of international economics at the Council of Foreign Relations has launched a scathing attack on sovereignty and national currencies.

Benn Steil, writing in the current issue of CFR's influential Foreign Affairs magazine, says "the world needs to abandon unwanted currencies, replacing them with dollars, euros, and multinational currencies as yet unborn."

In the article, "The End of National Currency," Steil clearly asserts the dollar and the euro are temporary currencies, perhaps necessary today. He argues "economic development outside the process of globalization is no longer possible."
His inevitable conclusion is "countries should abandon monetary nationalism."

... a long way off, IMO, but nevertheless, we're headed there.