The amero, fact or fiction?

[Arizona Coin Collector]

FROM:
http://www.sidneyherald.com/articles/2009/04/06/news/doc49d6468fe8e8c741245154.txt

The amero, fact or fiction?

By Louisa Barber
Published on Friday, April 3, 2009 2:17 PM MDT
Sidney Herald

Back in 2007 rumors swarmed about the possibility of
legitimate "amero coins," sort of a North America version
of the Euro and a currency of the theoretical economic
and monetary North American Currency Union. The union,
which is formed from the United States, Canada and
probably Mexico, would require the countries to give
up their currency in favor of the amero.

Though conspiracy theorists think the governments are
already taking steps to implement the North American
currency, financial advisor at Edward Jones, Nick
Lonski, says that's not true. "The only thing that's
really been said is speculation," Lonski said. The idea
was first proposed by a Canadian economist in 1999,
the same year the euro came out. Then in December
2008, pictures circulated on the Internet of genuine
"amero bills" in 20, 50 and 100 bills.

Some argue that the amero would benefit Canada and
Mexico greatly. Canada could save up to $3 billion
in currency transactions. However, it's not so
simple to convert countries' current monies into
amero currency. There's just a few kinks to get
out.

First, is the disadvantages to the United States. The
American dollar already acts as a global currency
with several countries either tying their currency
to it or adopting it. A new currency would jeopardize
the nation's position as the dominant currency, and
perhaps causing the euro to become the dominant
monies.

The adoption of the amero could also endanger the U.S.
government's profit from the currency. Currently,
the nation receives profit from the dollar being used
in other countries, but if three governments shared
the profits, the United States would probably lose
its status as the richest nation. The new currency
would also restrict all three nations from being
sovereign over their own currency.

Lonski says converting the different currencies to
one main currency is almost impossible given the
Mexican peso is worth much less than the American
and Canadian dollars and "more volatile." It wouldn't
be an equal exchange.

"It's a very complicated thing," he said.

Even so, there's been no word from government officials
who say they're in favor of the amero.

..

[PC]

"Arizona Coin Collector" <nos...@nospam.com> wrote in message
news:JeGdnQV04_YaLEfU...@earthlink.com...

>
> Lonski says converting the different currencies to
> one main currency is almost impossible given the
> Mexican peso is worth much less than the American
> and Canadian dollars and "more volatile." It wouldn't
> be an equal exchange.
>
> "It's a very complicated thing," he said.
>
> Even so, there's been no word from government officials
> who say they're in favor of the amero.
>

Just a weird nitpick but "even so" seems a completely wrong phrase to use
there. *shrug*

[Michael G. Koerner]

I have always believed that should there ever be a 'common' currency in North
America, it would be by Canada and Mexico adopting the USA Dollar.

--
___________________________________________ ____ _______________
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| | | | |\
Michael G. Koerner May they | | | | | | rise again!
Appleton, Wisconsin USA | | | | | |
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