Amero talked about on CNBC

[BradLohaus]

I don't know when this originally aired. I just read about it today.

http://www.youtube.com/watch?v=_3jdQxDC7pA

[RandomGuy]

(shrugs)

More scaremongering from conspiracy theorists worrying about the ONE WORLD GOVERNMENT.

The Amero is a brainchild of an economic think-tank that proposes a unified currency for North America, to include Canada, Mexico, and the US, much like the Euro does for Europe.

Never happen in my life time, but CTers go all apeshit over it, because it is seen as something that the evil conspiracy that runs things is pushing for.

I think the analyst in the video vastly underestimates the potential opposition to such a proposal. The fact that he alludes to the Canadians being pissed would pretty much tell you what kind of firestorm any serious proposal would have in the US.

[BradLohaus]

I understand your skepticism, but the reason I posted this is because this ISN'T more scare-mongering from conspiracy theorists worrying about the one world government. If this was Alex Jones or someone like that talking then I wouldn't have bothered because it would be more of the same. This guy is a big shot broker in a major London investment firm. The fact that he has put in time considering this with respect to the long term position of the dollar is huge news.

And there would be tons of opposition to this. However, if the proposal comes after a Fed bankruptcy, or even the threat of the Fed defaulting on the dollar, then there won't be as much opposition as one might think. People will still need money even if the Federal Reserve Note tanks.

[xrayzebra]

Well, my two cents worth. If you think about the vast amount
of natural resources both Canada and Mexico have that has not
been exploited (that dreaded word) it really makes sense to
erase the borders. I lived for about four years in Canada back
many years ago and my friends in Canada and I used to discuss
this very thing. I could not for the life of me, at that time, not
understand by Canada and the U.S. didn't become one. Canada
needed the population and we needed the resources. Mexico
with their history of corruption may be a whole different
ball of wax. But maybe a solution to the our problem with
illegal immigration from south of the border may be one
government. But it wouldn't be easy.

[xrayzebra]

Hey come on, this is a good thread. It is a theory that may
very well come true in future years. I am interested in what
some of you younger folks think. It is something you could
get your teeth into.

[BradLohaus]

In the future there will be 2 states.

islamaland and china.

....and christians will be fed to the lions.

I always figured it would be Islmamaland, China, and the Christian Americas. We'll be fine for awhile, until the Chinese convert to Islam. Then we get fed to the lions. :(

[RandomGuy]

I understand your skepticism, but the reason I posted this is because this ISN'T more scare-mongering from conspiracy theorists worrying about the one world government. If this was Alex Jones or someone like that talking then I wouldn't have bothered because it would be more of the same. This guy is a big shot broker in a major London investment firm. The fact that he has put in time considering this with respect to the long term position of the dollar is huge news.

And there would be tons of opposition to this. However, if the proposal comes after a Fed bankruptcy, or even the threat of the Fed defaulting on the dollar, then there won't be as much opposition as one might think. People will still need money even if the Federal Reserve Note tanks.

Again, I think he is vastly overestimating the chances of such a thing coming to pass.

I also think the chances of a "Fed bankruptcy" is only slightly less remote.

You are talking about to highly improbable events.

The reason this isn't "huge news" is that most analysts understand this. I would think otherwise, had anybody high-ranking at the treasury or the Fed given a speech mentioning it even in passing.

The fact that they haven't says to me that there is no serious discussion of it going on.

[RandomGuy]

I always figured it would be Islmamaland, China, and the Christian Americas. We'll be fine for awhile, until the Chinese convert to Islam. Then we get fed to the lions. :(

Man you are going for a hat trick of long shots here.

"Chinese convert to islam"? :lol

That will not happen in any conceivably realistic future.

[BradLohaus]

The reason this isn't "huge news" is that most analysts understand this. I would think otherwise, had anybody high-ranking at the treasury or the Fed given a speech mentioning it even in passing.

The fact that they haven't says to me that there is no serious discussion of it going on.

The Fed is incredibly secretive. They don't even comment on the value of the dollar for goodness sake. There is no way in hell that they would ever talk about any of these things. If they did it would cause a financial meltdown.

As far as the Fed going bankrupt and establishing a new North American Central Bank being a highly improbable event: they have been issuing their banknotes at an alarming rate for the past few decades. If there is a large international move away from the dollar in the future it would trigger rapid and extreme inflation in the U.S. when those dollars come flooding back in. People here would demand that something be done, and the fed bankers will never tolerate their bank note becoming a second-rate currency to the European currencies.

Or, the federal government becomes unable to meet it's obligations without crippling tax increases that would also not be tolerated by the voters. The only real option left in this situation is either the Federal Reserve declares bankruptcy and defaults on the dollar or the federal government declares bankruptcy and defaults on it's treasury notes and medicare, social security, etc. obligations. The former would be far, far less serious than the latter.

A new currency would allow the federal government to restructure its debts and pay them off with a stronger currency (people and governments get less in Ameros then they would have in dollars). Then the Fed starts inflating like crazy once again with a new name and a new bank note, so the government will basically be printing money to pay off it's debts. It's a pretty slick idea, actually. The government would monetize its future debt with the dollar if it could. But, the dollar is too weak and there are too many of them for it to work; it wouldn't survive. A new currency doesn't have that problem, and it solves the other problems.

Of course this isn't going to happen very soon. But in the long term it's not far-fetched at all. Something has to change about this country's trade and finance situation. We can't keep going into debt forever. Or, we can and this happens.

I'm less certain about the Chinese going Muslim. But, they don't like the West (only our trade deficits), so you never know.

[RandomGuy]

The Fed is incredibly secretive. They don't even comment on the value of the dollar for goodness sake. There is no way in hell that they would ever talk about any of these things. If they did it would cause a financial meltdown.

Lack of evidence is not proof of anything.

I have no evidence that you are from mars, does that prove that you are?

The fed is not that tight lipped. They are under a microscope and the remarks of the chairs are very closely watched.

If they had mentioned something like that, you would be able to find those remarks.

The only places you find the "amero" really spoken about is in rather academic settings, as well as the occasional conspiracy website.

[xrayzebra]

Lack of evidence is not proof of anything.

I have no evidence that you are from mars, does that prove that you are?

The fed is not that tight lipped. They are under a microscope and the remarks of the chairs are very closely watched.

If they had mentioned something like that, you would be able to find those remarks.

The only places you find the "amero" really spoken about is in rather academic settings, as well as the occasional conspiracy website.

And so?? What is your point? It isn't going to happen.
Or that if it isn't spoken about openly it doesn't
exist?

[BradLohaus]

Lack of evidence is not proof of anything.
Yes I know. You are the one who said that because nothing has been said by the Fed about the Amero then that silence proves the Amero is not on their radar. I am not saying that their silence proves it is on their radar; I am saying that their silence proves nothing.



The fed is not that tight lipped. They are under a microscope and the remarks of the chairs are very closely watched.

Your second sentence is the reason why the Fed is tight lipped about major future economic events. The will talk and answer questions about the obvious, but when it comes to something as major as this, no way.

Did the Fed say anything about the U.S. going off the Bretton Woods pseudo-gold standard before it happened? No. They might have said vague things like "something has to be done about the number of dollars held overseas" or something like that. But did they say that the U.S. might cut all ties of the dollar to gold? No, they would never have said that before it happened because it would have caused an international run on the dollar that would have tanked our stock market and economy.


If they had mentioned something like that, you would be able to find those remarks.
No doubt about it. Finding a quote like that would proove that the Amero is on the Fed's radar. Not finding a quote like that prooves nothing.


The only places you find the "amero" really spoken about is in rather academic settings, as well as the occasional conspiracy website.
Many of these academics also work or have worked for the Fed or World Bank, IMF or similar institutions. I know I had a money and banking professor who was also an economic consultant for the Dallas Fed branch. In fact, the fact that this is being talked about in economics and finance academia is stronger evidence that this is on the Fed's radar than otherwise.

[BradLohaus]

Looks like it is on the central bankers' radar after all.

Head of Canadian Central Bank says single North American currency "possible". I wonder how many years will pass until "possible" becomes "inevitable".

http://www.theglobeandmail.com/servlet/story/RTGAM.20070521.wrxdodge22/BNStory/Front


Bank of Canada Governor David Dodge says North America could one day embrace a euro-style single currency.

But to get there, Canada, the United States and Mexico must first tear down barriers to the free flow of labour, which he pointed out Monday have “gotten a bit thicker” in recent years.

So we have the head of Canada's central bank admitting that he thinks the 3 nations must allow their own and the other 2 nation's citizens to freely move across each other's boundries to work, and this will facilitate a single North American currency. I wonder if this aspect of the Amnesty Bill will be discussed. I'm guessing it won't be. :rolleyes


Some proponents have dubbed the single North American currency the “amero.”

It is more likely, however, that a common currency would mean that Canada and Mexico would adopt the U.S. dollar, giving up significant economic control to a central bank dominated by the United States.

We'll see which way they'll go. In the end, there wouldn't be alot of difference between the two routes. If the dollar moves into Mexico and Canada then that will create huge amounts of new dollar demand that would allow the goverment to monetize much of our tens of trillions of dollars worth of future obligations; the dollar could survive a new round of massive debt monetization under this scenario.

It may come down to whether it's easier to get all three nations to accept the Amero, or to just convince Canada and Mexico to accept the U.S. dollar. Probably the latter.