posted on Sep, 20 2007 @ 04:41 PM
Our dollar finished just under the US dollar today at the end of trading.
Live rates at 2007.09.20 21:04:37 UTC
1.00 CAD=0.997530 USD
Canada Dollars United States Dollars
1 CAD = 0.997530 USD 1 USD = 1.00248 CAD
We had a chat at work today about whether an extended period of parity could be used as the catalyst to bring in a new currency, namely the Amero. I
would think that it would be a perfect excuse for it to be rushed through our Parliament and your Congress. There would have to be more for the PTB to
build the case but this would be a perfect starting point.
If you look at the down turn in the US economy and a lot of experts saying that the financial markets have to have some sort of correction(crash?) and
the fed pumping $38 billion into the economy to help prop up the banks on fears of the credit collapse back in August, you could assume that the US
greenback will keep sliding against other currencies. The Mexican peso is at just under 11:1 against it now also. The downturn in the US affects both
Canada and Mexico. We are both major trading partners with the US. Actually we are all major traders with each other....
Wouldn't the introduction of a common currency sound good to the people right now, with all the doom and gloom forecasting about our economies and
our currencies getting closer together.
Also, what affect would a move away from the US dollar as the main petro currency do for this? I would think that would make the Amero sound pretty
attractive to john q. public. You know the "we have to do this to get back our monetary preeminence in the world" line coming from our
I am looking for help here in understanding whether this is a viable scenario or not. My understanding of economics and the markets is limited so any
clarifications or corrections are appreciated.