Latin Monetary Union (1865-1927)

[Parodite]

Monetary Union in Europe was tried before, and it didn't last.

Latin Monetary Union

The Latin Monetary Union (LMU) was a 19th-century attempt to unify several European currencies into a single currency that could be used in all the member states, at a time when most national currencies were still made out of gold and silver. It was established in 1865 and disbanded in 1927.

[..]

The LMU eventually failed for a number of reasons. Some members, notably the Papal State's treasurer, Giacomo Cardinal Antonelli, began to debase their currency. This meant he minted coins with an inadequate amount of silver and then exchanged them for coins from other countries that had been minted correctly. More importantly, because new discoveries and better refining techniques increased the supply of silver, the fixed LMU exchange rate eventually overvalued silver relative to gold. German traders, in particular, were known to bring silver to LMU countries, have it minted into coinage then exchanged those for gold coins at the discounted exchange rate. These destabilizing tactics eventually forced the LMU to convert to a pure gold standard for its currency (in 1878)

[..]

Interesting similarities..

[Simple Minded]

Monetary Union in Europe was tried before, and it didn't last.

Latin Monetary Union

The Latin Monetary Union (LMU) was a 19th-century attempt to unify several European currencies into a single currency that could be used in all the member states, at a time when most national currencies were still made out of gold and silver. It was established in 1865 and disbanded in 1927.

[..]

The LMU eventually failed for a number of reasons. Some members, notably the Papal State's treasurer, Giacomo Cardinal Antonelli, began to debase their currency. This meant he minted coins with an inadequate amount of silver and then exchanged them for coins from other countries that had been minted correctly. More importantly, because new discoveries and better refining techniques increased the supply of silver, the fixed LMU exchange rate eventually overvalued silver relative to gold. German traders, in particular, were known to bring silver to LMU countries, have it minted into coinage then exchanged those for gold coins at the discounted exchange rate. These destabilizing tactics eventually forced the LMU to convert to a pure gold standard for its currency (in 1878)

[..]

Interesting similarities..

Timeless tactics...... people don't change much.

[Endovelico]

Timeless tactics...... people don't change much.

"People"... As in "wogs", "dagos", "n_ggers"?...

[Parodite]

It just shows that monetary union fails when there is no political union. The modern day nation state is the unit and came about by armed revolutions and wars.

For a United States of Europe we need some nice big time war with enough differences annihilated to also make the one state currency viable. Best would be if the US and Russia just simply have their final battle over Europe, turn it to ashes and let the winner take it all.