Hello CalgaryPuck!
I'll be doing a seminar project in my business and government class based on the (Amero) - North American currency union...
Quote:
A. Topic
What, Who: - The Amero
When, Where: - North America
Why, How: - ???
B. Background
1. How does the topic relate to business/government relations?
What connections can be made, lecture, or text materials?
2. How does the topic relate to the themes of "triple bottom line" and sustainable development?
C. Research Performed
Identify the sources used: Internet, newspapers, journals, interviews, etc.
Show bibliographic information
Canada:
One argument is that it would save up to $3 billion in currency transactions.The same authors also stated that Canada's GDP could rise by up to 33 percent in a 20-year period given the adoption of a single currency.
Mexico:
The possibility of a monetary merger has also been discussed in Mexico as anatural step to take after the NAFTA.Former Mexican president Vicente Fox echoed that view and expressed his hope for a greater integration of Canada, Mexico and the United States, including an eventual monetary union, while on a 2007 promotional tour for his book "Revolution of Hope."
These are my last few weeks of class as I will be doing a work placement to complete my final 8 weeks of my small business administration three-year diploma.
Thanks for helping me graduate and for any help you have to offer CP!
I don't care for the idea, personally. It seems to me that a North American common currency wouldn't really benefit Canada or the US. Maybe Mexico. The reason I think it wouldn't be great for Canada is because our currency would be tied to the American economy. It'd be like having a joint bank account with someone that makes more money than you, but also spends more money than you. You'd never really have the power to control your bottom line.
The US wouldn't benefit because they'd be propping up Mexico and also, to a lesser extent, Canada. I suppose they would benefit from the trading power that would come with it, but in the grand scheme of things, that'd be nominal compared to the drawbacks.
Mexico would benefit greatly because of tourism. Or would they suffer? Maybe they'd also suffer because one of the great things about going to Mexico is that our money is worth so much more... I have to think about that a little more.
Comparing the idea to the euro is apples and oranges. Europe is vastly different in so many ways. Sheer size, to begin with. The 14 or 15 countries that use the euro are less than a third the size of the US combined. And they're all very well travelled. Plus their economies rely on eachother significantly more tha the US' economy relies on Canada's.
Of course, I'm no economist. That's just a bunch of junk off the top of my head.
Haha, you're bang on 4x4, the US does make more money than us. Literally. The FED is pumping ridiculous amounts of currency into the money supply...It will undoubtedly cause above average inflation in the long term.
As far as your report goes, I'd imagine Pat Buchanan has something to say about why the US shouldn't jump on the Amero love train...Something, something sovereignty erased.
A convergence of currency in North America has a great chance of happening...Big business/MNC's love the idea of lowering transaction costs.
Actually, I'd say the Euro is still a valid comparison, but there are several cases of "a joint bank account with someone that makes more money than you, but also spends more money than you. You'd never really have the power to control your bottom line" rather than just one.
Germany (83m), France (64m), Italy (59m) and Spain (47m) dwarf many of the smaller members like Austria (8.3m), Ireland (4.3m), Denmark (5.4m). The next largest is Poland with 33m, but their economy is much weaker than the big 4. Even the combined Benelux is 27.5m and influence pales in comparison with the Big 4, especially if the big nations team up.
Why do the smaller nations agree to walk with giants and risk being trampled? Buying power. A strong currency goes a long way. Canada would get the same benefits by merging currency with the US and Mexico. Lets not forget that the US is far and away Canada's largest trading partner, and with Oil and Gas being what keeps Canada in the black, trading in the same currency would be a definite plus. Even for those that don't like the idea of "getting in bed with the Americans," a unified currency would likely increase buying power of all three nations and offer favorable rates against the other global currencies, namely the Euro, Pound and Yen.
Mexico is pretty obvious... its an emerging economy and with a common currency with two of its trading partners, they would really take off.
If the Amero was to come about, you would still need monetary policies. And more likely than not, that policy would be controlled by Washington. Also, without the Canadian dollar,you had to address the question of sovereignty> How much do we lose? The Euro works because no one nation dominates other nations when it comes to economical and political clout. The Amero would be heavily influenced by American economics and politics.
The Euro involves 15 countries. This NA currency would involve 3. One of which is a behemoth and two that are dwarfs. Nowhere close to the same. At least in my opinion. As I already stated, I'm no economist.
I don't know if you're being sarcastic, but no. Not a chance. No way in hell Canada signs up for that.
If our biggest trading partner wants to do something relating to trade, I don't see how we couldn't.
Serious talks have already taken place for implementing an American Euro, and it's progress is well documented.
Basically, it will happen. I'm not saying tomorrow, but the US dollar is going to see increasing competition from the EURO as a world currency...We're starting to see oil markets abandoning the USD in favor of the EURO right now. Keep in mind the USD is kept afloat by it's international confidence in value. Why would you want to trade in a currency that is losing its value towards other currencies?
(I've been up writing a paper for way too long tonight, so I'm not sure how coherent my posts are by this point)
Last edited by HotHotHeat; 02-12-2008 at 12:58 AM.
The point is to eventually amalgamate the three countries into one superstate similar to the European union. This is really happening all over the world. European Union, Asian Union, African Union, NA Union etc. Once you have those countries grouped together in their respective unions, in time it makes it easier to group them again into a world union or government, which is most likely the goal.
I've read some articles that North Carolina are now issuing NAU ready drivers license. On the back of their state license is a hologram of North America that can be scanned for jurisdictional information.
The NAU started under the name Security and Prosperity Partnership.
The SPP was signed by Paul Martin. It is being carried out by Stephen Harper.
Anyway, there are tons of sites out there. The "Canadian Action Party" which is a registered Federal Party which ran in the last election is very pro active against the SPP and NAU. They say basically this is going through without any consultation with Canadian Citizens.
The conspiracy theory is the US has basically bankrupted themselves so they will collapse the US Dollar. Once that happens you can introduce the new currency and new superstate to the people saying this is the only way to rebuild our state, and the rich can buy up everything on the cheap which was pretty much what happened after the market crash in 1929.
Lou Dobbs on CNN has been talking about this for a while but he's the only mainstream guy i've seen talking about it. Search "Dobbs NAU" on youtube.
There is also a radio host on the net somewhere who claims someone from the US Mint in Denver sent him a newly minted Amero which is being produced. He had pictures and video but it's tough to verify. Could just be a forgery, and I don't think the guys track record is all that great either.
we are all so closed minded and small thinking...why a North American currency? Why not a World currency?
Yes Im aware of tin pot despots, and third world issues, but isnt it time we really started to think outside of our own little boxes and begin to think globally? Each and everyone of us on this little thing called the internet do anyways....
we are all so closed minded and small thinking...why a North American currency? Why not a World currency?
Yes Im aware of tin pot despots, and third world issues, but isnt it time we really started to think outside of our own little boxes and begin to think globally? Each and everyone of us on this little thing called the internet do anyways....
/dreamer
Why stop there? Why even have currency anymore. Just do away with a monetary system completly. Like on Star Trek!!
Separating economies is probably the better way to go. If a disaster hits India, the effect in North America will be less if there is a currency barrier between the two markets.
I'll accept the North American currency if it means I get access to all the cool American goods that never make it across the border. Yes, this is primarily limited to cereals. Mmm, Cocoa Crispies!
I personally see no problem with a North American union... as long as they adopt the best of standards and enforce them across the board. That would mean an all encompassing universal healthcare, a working social safety net (and working, I mean people work within the system to receive benefits), adoption of unions and work standards, etc. etc. etc. You can't have a North American union without a levelled standard of living between the countries. The existing inequities make this concept very difficult to implement.
My big question is do we get to share Chris Lindberg's degree when he finally earns it? Isn't this like the third assignment he's brought to the board in the past couple months looking for help?
The plan is a world currency, however you cannot introduce this in one swing. You introduce 5 or 6 unions, and then after those are stable you combine those unions into a world union.
And you don't think being a seperate nation matters? Maybe i'm old school, but I prefer my soverignty.
If the NAu comes to pass, which it will in the near future, You will still elect a Canadian government, however the government will now appoint people to a council for the NAU much like they do in the EU now. So now you have people making decisions for North America that were not elected, they were appointed. I find it frightening that people generally don't care and just accept globalization as one of those things that have to happen. There can be globalization, but i'd rather have a separate independent nation with democratic government which the people can control, rather than a group that makes rules that I have no control over. Look no further than the scam that is the EU.
The problem I have with a NAU is it centralizes power. I do not trust any government enough to appoint people to make decisions for the entire continent.
I'll argue national sovereignty is, for some people, one of the most highly coveted values we posses. We pride ourselves on not being American. Granted, we're the same and just refuse to admit it.
Here's some American iggnorance:
Last edited by HotHotHeat; 02-12-2008 at 09:16 AM.
^^^^ Are you kidding me? Canadians are so Americanized its not even funny. I was up there at Thanksgiving and I couldn't believe how Americanized things had become. In five short years it was hard to tell Calgary from any American city. The attitudes, the culture, everything had changed. The only thing missing was about 75 pounds of fat per person at the mall. It was very disappointing.
The North American Currency Union (Amero)
