If it is true the die’s are cast and the presses ready to spit out Amero’s, how then will this affect Britain?
Friday, July 3rd, 2009 at
11:18 am
Presumably it will eventually replace the Dollar as the reserve currency for the North Atlantic’s Alliance, maybe for the first time opposing other currencies in worldwide trade particularly of oil. Then for instance will the Amero continue to be redeemable only through NYMEX and IPE? Will dollars become worthless in due course? If so what happens to our holdings, i.e will the amount we owe America and the rest of the world counter balance the amount we are owed and vise versa so it’s no problem?
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Filed under: Nymex Trading
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There is no Amero, nor is there a plan to introduce one.
As to the dollar becoming worthless in due course, it is a distinct possibility. After all, this is exactly what happened to the pound. Recall that in 1900, the pound was worth about $5… During the 20th century, Britain consistently had higher inflation than the U.S. did, so the pound depreciated relative to the dollar. If the U.S. consistently has a higher inflation than Britain in the 21st century, at some point the pound may be worth $5 again…
There is no Amero. There is ZERO possibility of their being an Amero — zero, zip, nada. That is an Internet urban legend and nothing more. There has been absolutely no official work or movement of any kind in this direction, nor would there be. There is good reason for a collection of 20 roughly equal, small, fragmented economies in the same geographical area to adopt a common currency like the Euro.
North America is totally different. The U.S. is 85% of the North America Economy. There is absolutely nothing to be gained by trying to adopt a common currency, and it would be enormously costly. Mexico might possibly benefit from just dropping the Peso and using US dollars, as some small countries have done, but even they would prefer to control their own currency.
P.S. Oh, right, it must be true if some guy who webcasts from his double-wide says it’s true. Wow, I really need to find a way to make money off people like you. You’re a renewable resource.