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Could Canadian/US dollar parity be used to implement the Amero

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posted on Sep, 20 2007 @ 04:41 PM
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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
source


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....
Nafta

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 Governments.

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.




posted on Sep, 20 2007 @ 04:47 PM
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There's also Vitchilo's thread here on the Saudi's moving away from the dollar and the fear it could collapse. I'm just starting to read it so I'll comment in it/on it later.



posted on Sep, 20 2007 @ 05:34 PM
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The problem is that if the "Amero is pushed into the American population" it will not be welcome by many Americans in this nation that have a very strong patriotic feeling to remind a sovereign nation

A new currency will not be up and good over night it will take years to take hold.

First the government in power will have to find a way to make Americans feel that nobody is taking their sovereignty away before they can do anything with a new currency.

After all this have to come with the open borders and the North American Union.



posted on Sep, 20 2007 @ 05:49 PM
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Oh I know marg. That's why I called it a starting point for them. No Canadian would accept this, none I know anyway, with current conditions. Saying that though, our manufacturing sector is going to take a pounding if this trend continues. They have already had a very hard time because of the rising Loonie and the outsourcing of manufacturing jobs to China and India.

The lumber industry is going to take a hit also due to the down turn in the US housing market and and the falling world market for industrial grade paper. There is/was lots of mills around where I live and most have closed or brought down the work force to essential levels only in the last couple of years. The mills were all sold to foreign companies then they shut them down a year or two later.

With trends like this here and in the US as well I would guess. I don't think it take near as much as I would hope to convince the general populous to see this as a good thing.

What I don't know about is how hard would it to convince Mexicans to go for this idea? Would it be an easy sell? Would the general population of Mexico even get a say or would it just be done without there input?



posted on Sep, 20 2007 @ 06:08 PM
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My Opinion

There wont be a North American currency.

Canada's dollars are way cooler looking than the greenback and is gonna be

worth more due to Canada's superior economy at the moment.

Australian money looks just as cool.

I think the Americans should change their dollar to look just as cool.

thats my opinion




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