Amero "dollar"

[RkyMtnHigh 0]

Just as the EU has the Euro, joining Mexico, America, and Canada will be the the Amero dollar.

What do you feel are the pros/cons of the Amero?

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[quade 4]

Well, the "pro" is that it makes me giggle that there are so many conspiracy freaks out there that believe this is going to happen.

The "con", of course, is the con job somebody pulled on the conspiracy freaks to begin with.

In short, it's just not going to happen in the foreseeable future.

Why the hell would Canada agree to devalue their economy for us and why would we devalue ours for Mexico? It simply doesn't make any sense whatsoever.

BTW, there are other Constitutional issues involved here. It's not something that could happen in secret and behind our backs and there's no way in hell a 2/3rd majority would ratify something like that.

quade -
The World's Most Boring Skydiver

[Squeak 17]

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Just as the EU has the Euro, joining Mexico, United States of America, and Canada will be the the Amero dollar.

What do you feel are the pros/cons of the Amero?

It would save me having to exchange currency in those 3 countries next year

You are not now, nor will you ever be, good enough to not die in this sport (Sparky)
My Life ROCKS!
How's yours doing?

[likearock 2]

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BTW, there are other Constitutional issues involved here. It's not something that could happen in secret and behind our backs and there's no way in hell a 2/3rd majority would ratify something like that.

What are these constitutional issues?

[Nightingale 0]

Article 1, Section 8 of the Constitution. Congress has the power to coin money for the US. Not Mexico or Canada. So, the issue may be that there is no constitutional authority to allow a foreign country to issue and regulate our currency.

[Amazon 7]

This whole issue could have been resolved so easily back in the 19th century if we would have just followed thru with Manifest Destiny..

There really is no good reason for a Canada and Mexico.. or those freakin Banana Republics anyway.

[kelpdiver 2]

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This whole issue could have been resolved so easily back in the 19th century if we would have just followed thru with Manifest Destiny..

There really is no good reason for a Canada and Mexico.. or those freakin Banana Republics anyway.

well, it wasn't for lack of trying with Canada, just before we had our might. But we got the best parts of Mexico.

[kelpdiver 2]

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Just as the EU has the Euro, joining Mexico, United States of America, and Canada will be the the Amero dollar.

What do you feel are the pros/cons of the Amero?

It would save me having to exchange currency in those 3 countries next year

You can go through many parts of Mexico (anything touristy) with the dollar. Some outfits charge in dollars anyhow. Sometimes, however, it benefits you to have the pesos as the rounding on the exchange rate sucks.

[Andrewwhyte 1]

There are advantages and disadvantages to having a larger currency ather than a smaller one. Even within Canada this is true. The resource based western provinces are booming, their big concern is inflation while the manufacturing, export to US based east is clearly in recession and needs a lower interest rate to ease upward pressure on the dollar. Adding Canada to the already very complex and differentiated US economy would make the FED's job even harder. That would still be the easy part of the trick as Canada' and US's economies are practically identical when compared to a place like Mexico.
The advantage is that for it to work the system must be set up to resist political pressure. The larger the unit the more independent of the pols the system will be. In Europe the pols wreaked havoc with the currencies for years, but now the Euro is a very well managed, stable currency. It may be a good idea in the long run, but I don't think there is the political capital available in Canada, the US, or Mexico. Americans tend to be not very internationalist in their attitudes (much like the British who stayed out of the Euro-zone), and Their is too much suspicion of US imperialism in Canada or Mexico.

[Amazon 7]

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well, it wasn't for lack of trying with Canada, just before we had our might. But we got the best parts of Mexico.

No necessarily....

There is that whole silver thing that has been producing for centuries now...and they do have just a wee amount of oil....( Wonder why The Bush Doctrine has not spread there yet)

I myself really like the Yucatan Peninsula with Cancun, Cozumel, and the rest of the Mayan Riviera...very good source area for some very fine Cabana Boys... who come to the resorts etc.

[masterrig 1]

I do know of one Governor (Texas) who would be behind such a thing. Personally, I don't see an 'Amero Dollar' ever happening. Simply because of what previous posters have said. Our illustrious Governor is really pushing the 'Free Trade Agreement' and open borders and one big 'happy' North American-Mexico 'nation' (for lack of a better word). I do know, he has been quietly holding meetings with Mexico and Canada in regard to this. Personally, I think it's a lousy idea. What a bag of worms that would open.


Chuck

[Andy9o8 2]

You're just afraid that Bud can't compete with Dos Equis.
Well...it can't.

[likearock 2]

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You're just afraid that Bud can't compete with Dos Equis.
Well...it can't.

Amen to that. But neither hold a candle to Negra Modelo.

[GaryRay 0]

this just would be very difficult, england did not go to the Euro so what makes you think Canada will? its still under the queen (correct me if im wrong). that is all the genious i am here to offer. good day.

JewBag.
www.jewbag.wordpress.com

[shaark 0]

Euro-dollars have been around since the 60's. Loans and general financial transactions made by European (and other) banks denominated in Dollars. Huge amounts, as so much international trade and investment has been dollar based --- the international currency.
No US government control on those dollars.
The amount has lessened since the introduction of the Euro, especially in the last few years.

In actual paper currency at least 66% is held overseas. Better hope the owners don't try to convert them into anything else.

tanstaafl

[Nightingale 0]

And since those foreign banks aren't issuing US currency, there's no problem. If a bank in Germany wanted to start printing US dollars, that'd be a problem.

[MajorDad 0]

Why would Canada and Mexico want to have a shared currency with the US?

Due to the size of the US Economy compared to the Canadian and Mexican economies, the US would dictate the monetary policy for all three nations.

Pass.

Major Dad
CSPA D-579

[Andrewwhyte 1]

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And since those foreign banks aren't issuing US currency, there's no problem.

That isn't 100% accurate. Money created when a lending institution makes a loan is just as real as the little green pieces of paper. The money created by US banks is regulated by the US gov. This was more so in the 60s and 70s than now and the lack of oversight by American or European govs was one of the principle reasons the Eurodollar accounts were set up. The success of these accounts was a contributing factor in the deregulation of the banking industry in the eighties. It was tough for the legislators to claim that cash reserve limits were necessary for stability of the system when a large part of it worked nicely without them.

[Andrewwhyte 1]

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Why would Canada and Mexico want to have a shared currency with the US?

Due to the size of the US Economy compared to the Canadian and Mexican economies, the US would dictate the monetary policy for all three nations.

Pass.

Correct. The system that would seem logical to Americans would be to add two reserve banks to the Federal reserve system. The Federal Reserve Bank of Mexico City and the Federal Reserve Bank of Toronto. This would not be acceptable to either gov unless there were caveats such as: The chairman of the (con)federal Reserve shall rotate between appointees of the three countries. Can you see congress allowing Mexico City to appoint the Chairman of the Fed?

[Nightingale 0]

Banks aren't "creating money". They're offering loans based on assets they already have, even in electronic form. If one of those banks started printing US dollars, that would be a problem.

[Andrewwhyte 1]

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Banks aren't "creating money".

Most economists would disagree. The M1, M2, M2+, M3 etc. are the commonly accepted measures of the money supply, and all contain money "created" by financial institutions. The M0 (a straight count of the dollar bills in circulation) is not generally used for much.

[masterrig 1]

Don't care either way. I don't drink.


Chuck

[Amazon 7]

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If a bank in Germany wanted to start printing US dollars, that'd be a problem.

There are countries in the world that do print US Dollars. That is one of the reasons we are seeing our bills change to thwart this attack on our economy.

http://www.globalsecurity.org/security/library/report/gao/ggd96082.htm

GAO's testimony focuses on the diverse
nature and the unknown extent of counterfeiting abroad, as well as
the recent U.S. efforts to deter this activity.
U.S. law enforcement officials say that counterfeiters range from
office workers to organized crime and terrorist groups and that the
equipment used for counterfeiting U.S. currency includes both simple
photocopiers and sophisticated offset presses. Moreover, counterfeit
currency varies significantly in quality. Of increasing concern is a
very high-quality family of counterfeits commonly known as the
"Superdollar." According to reports by the House Republican Task
Force on Terrorism and Unconventional Warfare, the Superdollar is
printed in the Middle East on "high-tech state-owned presses with
paper only acquired by governments."

[jcd11235 0]

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No US government control on those dollars.

Sure there is (US) government control on those dollars. For example, if the US increases the amount of currency, devaluing the US dollar, the US dollar is devalued no matter who holds it.

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