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North American Union
What about the Amero currency?
See more of the North American market on our Market view page.
Amero is as we know for now, a hypothetical but much talked about and probable currency. The Amero would combine the Mexican Peso, Canadian dollar (CAD) and US dollar (USD) in to one single currency and would also be the hypothetical North American Union´s official currency. Not unlike to what the Euro has been for the European Union today, the Amero would be for the North American Union. The facts behind are fairly strong that something will happen within a foreseeable future. The recent strong fall behind the US dollar (See US dollar index chart below) is something that we can not ignore and it raises questions about its future strength as a world currency and possible collapse where the only way to save the US and world economy may be to create this hypothetical currency. The recent credit chaos in the united states sub prime market could be another keystone, orchestrated by the Federal reserve and other big bankers to cause the US dollar to crash. Although there are no evidence for this yet, people should be aware of the possibilities! (More to read below.)
Currency cooperation has occured in America on many lower levels. A few countries – such as Argentina, Brazil and Canada – have now and again tied their currency to the US dollar, and during 2000, Ecuador started using the US dollar as its sole currency. The US dollar is actually already a second currency in many parts of the Caribbean and Central America.
In both Panama and El Salvador the US dollar serves as parallel legal tender, and also in Cuba where 1 peso currently equals US dollar 1.08 (previously, it was until 24 March 2005, 1 peso = 1 US dollar). Some Experts thus argue that a currency union is all but inevitable, whether it is desired or not. If a currency union will be the future reality, apart from The United States, Canada and Mexico, we can probably expect many other countries in central and south America joining the currency union straight afterwards.
Above is a very interesting proposed symbol/logo for The Amero made by The Fraser Institute. According to Dr. Herbert G. Grubel, Senior Fellow, The Fraser Institute, "Under the proposed plan, bank notes and coins of the currency (tentatively called the "amero" ) will have "amero" symbols on one side and national emblems on the other to preserve important symbols of national identity. The conversion of existing currencies into the amero will take place at rates that leave unchanged each country's real income, wealth, and international competitiveness at the time of conversion." Download the whole study about "The Case for the Amero" from The Fraser Institute. As far as of today, no official symbol or logo has been released or verifide in any way.
During the recent year the three countries national banks also seem to manipulate their currencies into 1USD = 1CAD = 10 Mexican Peso. (see market view page)Is this just a way to make the transition to the Amero easier to take or just another coincident? As time goes by the evidence for a new north American currency grows stronger. The days of the US dollar is over, we see more and more evidence of this as many countries central banks try to sell out their US dollar reserves and get paid for merchandise and natural resources in Euros or Japanese Yen. Just recently the Chinese Central bank was threatening to sell out all their US dollar reserve and cause an imminent crash if the trade embargos continued (see news page). This quickly got covered up and nothing else has been heard about it. The important thing to realize is that the US dollar is not at all as strong as the Fed would like us to believe and any country with a sufficiently strong economy could easily cause the dollar to crash. The million dollar question is, when will it happen? Some experts have been talking about it since the end of the 90's but it's not really until very recently the CNBC correspondent Stephen Previs opened up many peoples mind about this possible currency in a comment about the bullish gold price. You can see more about this in the Video site - section. As far a crashes and chaos goes, we know that it can never fully be understood when it will happen, it always comes as a surprise. Allthough many people believe that the world economy will keep on rolling for another 2 years (until 2009-2010) before it is time to back off with general investments. Looking at this timeframe, it is probable that a currency union will be created sometime shortly after that.
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