fiduciary currency

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So long as the fiduciary currency has a market value greater than its cost of production--which under favorable conditions can be compressed close to the cost of the paper on which it is printed--any individual issuer has an incentive to issue additional amounts.
The inequities and instability of current arrangements is why the world monetary system should be based on a truly global reserve currency: a fiduciary currency backed by the central banks of the world.
The ultimate and ideal goal for the reform of international monetary regime is to create a super-sovereign reserve currency, which shall maintain persistently stable value, de-link to any sovereign state and avoid the intrinsic defects of a sovereign fiduciary currency.
That will pose less of a problem if they represent a weak share of the fiduciary currency.