The Amero : USA, Mexico, Canada Currency (sell, recession, Euro, economy)

[atreidi]

What are your thoughts on this?

[Mircea]

Originally Posted by atreidi

What are your thoughts on this?

It'll accomplish nothing except to screw the Canadians.

It won't do anything for the value of the currency as both Canada and Mexico already trade in US Dollars.

[Stephan_K]

Just another step in the direction of one world currency. It will get there eventually...

[Nor'Eastah]

This is old news. May not happen for quite a while yet, or may never happen. It's not real, yet. The Euro is showing signs of falling apart. I think that TPTB need to go back to school to learn how to get this right. In which case, don't lose sleep over it.

[evilnewbie]

I heard of it and am opposed to it... thinking about Canadians and Mexicans controlling American commerce and economy irritates the heck out of my... why would someone sell their soul for a piece of $#!+ ?? I guess there are some who are paid lots of $$$$ to do just that... are Americans that dumb? Apparently, they think so...

[70Ford]

I think there was a great article on Snopes about it...

snopes.com: Amero Coin

[Woof]

The whole idea pisses off everyone I've ever heard discussing it, I can't imagine how they could pass the legislation.

Oh wait, TPTB don't listen to us anyway .... never mind. When will I have to trade in my FRNs?

[atreidi]

The way I see it is that the Dollar is already the Amero. Canada and Mexico already use the Dollar as a regular currency. Heck, who in the American Continent does not. The only reason I see a new currency could be introduced (and accepted) is if a major recession or economic catastrophy would affect the value of the dollar; The new currency could be introduced as a savior. If the Dollar goes down it would take ALOT of other currencies with it, especially the peso and Canadian Dollar.

[killer2021]

It'll be used to create the north american union.

[bale002]

I think the chances that the Amero/NAU will materialize are about 50-50.

In any case, talk of it is relevant now in the context of the planned upcoming G-20 summits starting on 15 November. The main objective right now has to be achieving some sort of stability, including currency stability, there are some in favor of fixed exchange rates, and I suspect we may see some sort of managed float scheme put into place, and the North American currencies would be one component of that.

As I mentioned elsewhere, I never thought I'd see the end of the Cold War in my lifetime, and the Amero/NAU could come sooner than anyone thinks, and the criteria will not necessarily be economic.

Talk of the euro falling apart and such implies a reversal of globalization and a return to protectionist policies. It is among the possibilities, but I think that a deliberate deepening of globalization is more likely, the question is at what pace.