Many national governments are facing a big problem around job or unemployment in general.
The root problem is the minimum wage rule, not the foreign currency exchange rate. And you can only truly able to solve the jobs problem of your nation when you able to make the minimum wage = 0 (no rule no law about wage).
There are only 2 paths:
– Path 1: direct change the laws to minimum wage = 0. – Path 2: having a new currency in the society to separate but coexist with the current one.
Because all the rules, laws in all nations about minimum wage only apply for the fiat money paper backed by the authority government like US Dollar, Euro, etc.
So when you have a new currency such as California Dollar or Alaska Dollar, etc. in each state, then people can use that new currency type for trading but since there are not any rules related to that new currency type, so you can understand the minimum wage for the new currency is 0.
Which mean in that kind of society, there are 2 type of minimum wage coexist at the same time: minimum wage in US Dollar and the minimum wage in local currency.
But in order to make it work then the new currency must have it new features in it own new system and completely do not rely on the current fiat money paper system.
The 100% physical currency only is the best option for new local currency because the authority government will able to “control” and “manage” the society very easy since all the digital transaction are not allowed, the 100% physical currency only have value when people trade with people in real physical form.
In ancient times, people can freely choose between bronze, silver, gold to trade for any transaction they want (the government allowed).
In the modern today world, people only allowed to trade in only 1 currency in most nations, which is not good.
So in order to make life more fair, more balance, then the authority governments must allow people choose new currency they want to use in trading.
The sellers and the buyers should be the one who decide which currency will be used. And the authority must provide as much option as possible.
There is absolutely no reason to force people to use this or that currency in all kind of trading including the international level.
The mission, duty of any national government is providing more jobs to the people, keep the unemployment rate as low as possible to have a stable society.
Thus the best choice now is the new 100% physical currency where it is safe to implement and also easy to remove if the authority don’t like it.