Baltimore-born and raised with the most normal of childhoods. I graduated from a college in Western NY state, and began to understand, during my time there, that I don't like snow showers in April, or to feel my ears burn in January as soon as my hat comes off.
I lived in Costa Rica and Nicaragua, and want to go back ASAP. The Amero is creating quite a stir. The proposed currency between the three nations of North America (and potentially all of the Americas) has its pros and cons, and deserves an honest evaluation based on economics, not on conspiracy theories and fears of a one world government. As the dominant (by far) nation of the Americas, the United States has the most to lose by pegging its currency to the entire region, but there are also gains to be made, and a pressing global economy that threatens to dethrone the United States as the leader.
'Amero' is the term used to describe a potential common currency for the three North American nations, and eventually, for all of the American nations. Initially, the idea of a common currency was pushed by Canadian conservative groups following the introduction of the Euro. The idea would entail an incorporation of the US and Canadian dollars and the Mexican peso. Nationalist groups have opposed the proposal, and the pros and cons are beginning to be discussed.
The benefits would include the elimination of currency transactions and the potential strength of a regional currency. For the US, the benefit would be a renewal of the dollar's (or the Amero's) international strength.Projections claim that if the three nations were to adopt the Amero, it would be able to eliminate the threat of other regional currencies (the Euro, and possible Asian and/or African currencies) to the stability of the local currency.
The costs of the currency unification are almost entirely directed toward the US. As the strongest of all the American nations, the US would be potentially 'dragged down' by the weaker economies and monetary systems, particularly the historically troubled Mexican peso. In addition, the adoption of a common currency would decrease the sovereignty of all nations involved by tying the economic systems together. The Federal Reserve would lose significant autonomy in the adjustment of interest rates, as well as in all other processes related to the control of currency.
Reading the comments associated with the proposal, and with the video posted on YouTube, it is clear that the majority of people are not looking at the question from an economic stance, but from a political stance. Fears of a world government, of the loss of the United States and its culture, and of conspiracy theories dominate the discussion. Once again, I have to point to the EU, a very successful regional union of nations with a common currency (although not adopted by every nation involved).
The United States' economy is strong, and as of right now, asserts an international dominance. The fact is, however, that in a short period of time, China will be a much bigger player, and the European Union, with continued success, will also overtake the United States. The Euro is already stronger than the slipping dollar. A regional economic system seems a great way to continue to dominate international economics and to maintain a strong voice in international politics.
I am happy to see that the questions are being discussed by the public, but look forward to a discussion free of paranoia and based on facts sorted out in the public forum. Nationalism is the past, Globalism is the future, and it's time that we understand that in the United States. FREE NewsLetter... Get the latest/greatest articles, FREE eCourses/eBooks/Software, and future developments eMailed right to your inbox!! (Click Here for more Info.)