posted on Aug, 17 2007 @ 09:24 AM
I'd assume this meeting, like others have stated, is about the up-coming Amero.
If it is, it could be bad. The amero is a terrible idea, no matter how much the dollar is dying right now. Forming a union between Mexico and Canada
certainly would give its political advantages to the US, but would not be good for Mexico or Canada.
I'll just copy/paste this from Wikipedia because it's as well said as I could ever put it:
A major obstacle to the creation of a unified currency is the sheer dominance of the United States in any such union. Unlike any country in the EU,
the USA has a larger economy than the rest of its respective continent/union combined. Differing cultural and social/economic objectives amongst the
other western nations would be another point of contention.
A University of California, Santa Barbara paper puts forward the idea that the United States simply has too many advantages from the status quo to
move towards a single currency. The United States dollar already acts as a global currency, meaning any transition to a 'new' currency would risk
compromising this position and could cause a shift towards the euro or yen. The Greenback was used in over half of all the world's exports, double
the total United States foreign trade. The adoption of an amero could threaten the seignorage that America currently gains off its American dollar.
While seignorage would still be gained off the amero, this would be shared between the Bank of Canada, the Federal Reserve and possibly the Bank of
Mexico. Therefore, even if the amero was used just as much as the U.S. dollar, the advantages would be shared among two or more countries, and not
exclusively earned by the United States.
Secondly, several problems could arise in regards to macroeconomical management. By submitting to a common currency, both countries would lose
considerable autonomy in the setting of interest rates among other issues.
[edit on 17-8-2007 by ModernDystopia]