I have some questions for us to think on:

Was the money system created to be unfair?

Why can't all countries use the same currency of identical value?

What would happen if a country decides to opt out of the world monetary system?

Could it be done? What can they replace it with?

You're asking for Trade by Barter. And you must have readily available, Teams of Valuers and Assessors, for practically every Supply and Demand of yours and for all your interchanges.

GenBuhari:
I have some questions for us to think on:

Was the money system was created to be unfair?

Why cant the all countries use the same currency of identical value?

What would happen if a country decides to opt out of the world monetary system?

Could it be done? What can they replace it with?

GOLD

Are you saying that it is impracticable?

orisa37:
You're asking for Trade by Barter. And you must have readily available, Teams of Valuers and Assessors, for practically every Supply and Demand of yours and for all your interchanges.

Thank you .
It is interesting when you start to question things.

bolaino:
GOLD

GenBuhari:
Thank you .
It is interesting when you start to question things.

if you don't ask questions. You will never get answers.

Even when you don't get answers , the unanswered questions leads to more questioning or theories to think about, on why no answers are forthcoming.

bolaino:
if you don't ask questions. You will never get answers.

GenBuhari:
Even when you don't get answers , the unanswered questions leads to more questioning or theories to think about, on why no answers are forthcoming.

to the study of books and devotion of time to the learning of Knowledge there is no end. Life is a Cycle.

very true.

@topic I am no economist, but I cannot think of any reason that every country in the world should not have the same currency of equal unit value. So far nobody else viewing this thread has provided any reasons why this couldn't be possible.

bolaino:
to the study of books and devotion of time to the learning of Knowledge there is no end. Life is a Cycle.

I believe it is not possible for any country to opt out of the current monetary system. It is the system right now. It has been like that for hundreds of years. An not until something new comes up, It will remain.
As for the system being unfair. If the originator(s) did that in with such intent, it is possible that it worked for then.I doubt if it still the same. I heard the use of money started in the modern day Turkey.If that is true,you can tell that it is no longer in their favour. What I think has happened over the years is that competition has brought out even the most disadvantaged economies/countries into a better state in terms of the benefits of having a monetary world system. I know there are manipulations in the system. Nothing can be perfect.

The illiteracy displayed by the OP matches our leader ... the real Buhari, who promised to make 1 dollar equal 1 Naira with just his biro

Here is a good staring point : https://en.wikipedia.org/wiki/Money

GenBuhari:
very true.

@topic I am no economist, but I cannot think of any reason that every country in the world should not have the same currency of equal unit value. So far nobody else viewing this thread has provided any reasons why this couldn't be possible.

Bitcoin

GenBuhari:


Why can't all countries use the same currency of identical value?

What would happen if a country decides to opt out of the world monetary system?

Could it be done? What can they replace it with?

You want to help 666 come faster right?

iluvpomo:
The illiteracy displayed by the OP matches our leader ... the real Buhari, who promised to make 1 dollar equal 1 Naira with just his biro

Here is a good staring point : https://en.wikipedia.org/wiki/Money

Explain

RealityShot:

Explain

understanding the connection between a country's currency and its economy.

iluvpomo:
understanding the connection between a country's currency and its economy.

Please can you make it a little more explict/clearer?
Let others understand it.. (maybe MB will too) )

RealityShot:

Please can you make it a little more explict/clearer?
Let others understand it.. (maybe MB will too) )

start with the link I posted.
Your question is basically like this "Can you explain Physics to me?". How do you do that in a post or even a thread?? It is too vast a topic.

iluvpomo:
start with the link I posted.
Your question is basically like this "Can you explain Physics to me?". How do you do that in a post or even a thread?? It is too vast a topic.

Lol.. Physics is the study of the physical parts of the earth around us and our interactions with them.

Now, your turn..

RealityShot:

Lol.. Physics is the study of the physical parts of the earth around us and our interactions with them.

Now, your turn..

as you wish ...

Money:
Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts in a particular country or socio-economic context, or is easily converted to such a form.[citation needed] The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, sometimes, a standard of deferred payment. Any item or verifiable record that fulfills these functions can be considered as money ...
(More on Wikipedia on money)

Money exchange rate fluctuations:
A market-based exchange rate will change whenever the values of either of the two component currencies change. A currency will tend to become more valuable whenever demand for it is greater than the available supply. It will become less valuable whenever demand is less than available supply (this does not mean people no longer want money, it just means they prefer holding their wealth in some other form, possibly another currency).

Increased demand for a currency can be due to either an increased transaction demand for money or an increased speculative demand for money. The transaction demand is highly correlated to a country's level of business activity, gross domestic product (GDP), and employment levels. The more people that are unemployed, the less the public as a whole will spend on goods and services. Central banks typically have little difficulty adjusting the available money supply to accommodate changes in the demand for money due to business transactions.

Speculative demand is much harder for central banks to accommodate, which they influence by adjusting interest rates. A speculator may buy a currency if the return (that is the interest rate) is high enough. In general, the higher a country's interest rates, the greater will be the demand for that currency. It has been argued[by whom?] that such speculation can undermine real economic growth, in particular since large currency speculators may deliberately create downward pressure on a currency by shorting in order to force that central bank to buy their own currency to keep it stable. (When that happens, the speculator can buy the currency back after it depreciates, close out their position, and thereby take a profit.)[citation needed]

For carrier companies shipping goods from one nation to another, exchange rates can often impact them severely. Therefore, most carriers have a CAF charge to account for these fluctuations.[8][9]
Read more here

Is there anything else you would like me to spoon feed you with??
1) How to boil an egg
2) How to tie your shoes?

iluvpomo:
...

next time you want to show your ego about literacy, dont go and copy from a public document.. Its called PLAGIARISM

see who wants to teach me about money and economy...

lol..you are so blinded by your ego, you couldnt read my second-to-last post to its end and understand it.

is that what your literacy teacher taught you?

RealityShot:

next time you want to show your ego about literacy, dont go and copy from a public document.. Its called PLAGIARISM

see who wants to teach me about money and economy...

lol..you are so blinded by your ego, you couldnt read my second-to-last post to its end and understand it.

is that what your literacy teacher taught you?
you, my Uga, are an illiterate!

Ha ha ... you just displayed how you think like a crětinous buffóón. I provided the links of where I copied the text from. It is NOT called plagiarism if you provide the links. Your defined physics and did not explain it. You would not know the difference because you múmú-pass-ców as evident of your ignorance of the term plagiarism.
Common economics 101 you no sabi!!! You and the OP are a pair ... you think all nations can just just mandate that their currencies be of equal value ... what a doofüs

iluvpomo:
Ha ha ...I provided the links of where I copied the text from. It is NOT called plagiarism if you provide the links.

mistake accepted..
(i didnt see the hypertexts)

goodbye

RealityShot:

mistake accepted..(i didnt see the hypertexts)
goodbye

You manned up #respect .... au revoir.

RealityShot:

... Although, i asked you clearly for a simplified definition, which you didnt provide, but ended with unwarranted implicits statements about "spoon-feeding"; i choose to end this unproductive talk.
goodbye

Since you edited your original post.
If I ask you to explain about the Higgs Boson sub-atomic particle and the Large Hadron Collider particle accelerator in a few, simplified statements, would you be able to do so? Yet that is a section of physics. I am just trying to emphasize how big and complex some topics can be.

This is a good starting point, if you are willing to read it, I am posting it again ... : https://en.wikipedia.org/wiki/Exchange_rate
Cheers.

What is stopping a country like Nigeria scrapping its currency altogether and just trade in currencies that are powerful like the Dollar or Yuan?
Is it not exactly what Zimbabwe did to solve its currency crisis?