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BronxLens's avatar

Amero: probable or not that the US dollar is replaced all together by this hipothetical currency?

Asked by BronxLens (1522 points ) November 8th, 2008

Received an email from a friend (a conspiracy theorist at heart) regarding the Amero. Please comment on the viability or not of Hal Turner’s scenario of the Amero replacing the US dollar taking place in the near future as described in this YouTube video . If possible, also comment on how 401Ks would be affected.

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Bluefreedom's avatar

Here is an article from Wikipedia about the Amero itself. I read through the article and it appears that much of this talk about an Amero currency and a North American Union is steeped in rumor.

This excerpt also, from the article, is telling in and of itself: No current members of any country’s government have officially stated a desire to implement a “North American Union.”

AlfredaPrufrock's avatar

I think it highly unlikely. Common currency works in Europe because the countries are the size of our states. And many countries have dual currency—the Euro and their own.

We already have the “North American Union.” It’s called NAFTA.

augustlan's avatar

I think “not”, but I also think “so what if it did?” Why would this automatically be a bad thing? Not saying it isn’t a bad thing. I don’t really know…but would it be the end of the world?

TaoSan's avatar

As for the video itself that question was answered a while ago, and the guy in the video has fried a fuse. This was my answer:

Nah, the Amero idea originated in Canada from a guy called Herbert Grubel or Gruber from the Fraser institute in 1999 but never picked up. Mexicans discussed it in their cabinet as a hypothetical option.

It was theorized that with the Euro coming up, and Nafta being relatively new the Amero would be a natural extension.

He’s talking a lot about things he doesn’t know squat about, e.g. a “Force Majeure” is by definition an act of god or nature. Say, fire, storms etc. You can’t declare “Force Majeure” on your currency lol.

Further, he says buy French Francs not Euro, idiot, the Euro replaced French Francs as France and Germany were the driving force behind the Euro. This guy is a nutjob.

I’d say paranoid delusional that guy, typical conspiracy theorist.

Remains to amend that only the UK have actually retained the Pound, as far as I know they are the only European country that retained dual currency standard (Ireland too maybe?).

As for feasibility, across North America it would be virtually impossible to merge, as the prerequisite for a unified currency is complete and entire standardization of the involved economies. Canada, US and Mexico are simply not compatible. The Euro was in the making for the better part of 20 years. That’s the time it took to even find common standards.

waterskier2007's avatar

hypothetical*

gooch's avatar

I for one am opposed. It wont happen soon but if this economy does not get right it just may. I wish we would go back to backing the dollar with gold.

XCNuse's avatar

I think it’s safe to say that we won’t be seeing it any time soon, especially after seeing what the Euro did to Europe and the damage it did to the entire economy so.. don’t count on it anytime soon. Personally I don’t want to see it at all ever.

grayreason's avatar

I would say we’ll have the amero within ten years. When we’re forced to default on our national debt our currency will become worthless and the government in an effort to stop inflation will introduce the amero.

dynamicduo's avatar

It won’t happen. Canada is doing great on its own, thank you very much :)

waterskier2007's avatar

correction “Junior America is doing great on its own”

and i hate to say it but (this has nothing to do with the amero) what happens when you guys get attacked, you don’t even have an air force, it will be us defending you

dynamicduo's avatar

Correction, the country of Canada is doing great on its own. If there’s ever been a time where Canada is NOT USA Jr, it’s now, we’re not with you guys in Iraq and our economy, while being hit, is holding strong. Well, actually I would say the most anti-USA Jr action would be in the war of 1812 when you tried to annex us, and we and the British burned down your White House :P

Your assumption is seriously flawed. If Canada gets attacked, yes America will help, but the chances of that are slim to none. Canada doesn’t invade other countries for oil, Canada doesn’t have a history of meddling with other governments. In fact Canadians are some of the largest, if not the, biggest peacekeepers in the world.

BTW, you’re dead wrong as well on the air force thing. We have planes. With attacking capabilities. We just prefer to have them perform at air shows for our entertainment :D

TaoSan's avatar

Lurve to you dynamicduo, I wasn’t even gonna go for it :)

Garebo's avatar

Probably, after all the legacy banks are declared insolvent and the treasury can’t support them any longer. Then, the next phase of fascism will begin.

Garebo's avatar

If not the Amero then, obviously will be digital gold. This way they can introduce a one-world currency backed by gold to make it acceptable to the world public. The digital nature means government would know every aspect of your financial life and would control you and your country.

DREW_R's avatar

Not for me.

walterallenhaxton's avatar

If the Amero is a measured amount of money metal is the name really important at all or are the measurements the most important thing about it?

walterallenhaxton's avatar

@Garebo Digital gold is what? It must be a measured amount of metal. There are 4 money metals. Gold, Silver, Palladium and Platinum. Only some would be carried around for common use. The rest would be deposited in both demand deposits and in timed deposits. With full reserve banking you would pay the bank to keep your demand deposits and the bank would pay you for your timed deposits. I think that both revolving loan accounts and savings demand deposits would not be available. At least very rare indeed.

No what you would cary around in your pocket for regular purchases are debit cards. Surprise surprise. We have solved the problem of heavy money without doing away with money of real value.
Of course there would be 4 available types of debit cards. silver gold palladium and platinum. Posted prices can be in any of these metals. They can be instantly be translated by the computer and time stamped so that you can check on them.
There is a ton of trouble if you try to price fix any of them to the other.

DREW_R's avatar

@walterallenhaxton
And big brother can keep track of what I buy for my wifes medical garden, The ammo I buy for hunting(if there is any at that time), How many condoms I buy and who my mistress is. No thank you. ;)

How’s the wiring coming buddy. :D

SeventhSense's avatar

What is the new Hip othetical currency these crazy kids are getting behind these days. Why I tell ya in my day we were were happy with fins and sawbucks.

walterallenhaxton's avatar

@DREW_R If you don’t want the to know your business then use cash. They are working at requiring an ID for ammo right now. There are many weapons other than guns that you can use to capture guns from the enemy.
They gave the electrician 2 months to get the job done. I haven’t a clue. They would not even give me his number.
There are two possible numbers for him in the phone book. I have to make calls.

DREW_R's avatar

@walterallenhaxton

I do until they make a card nessa. ;)

2 months? Dang buddy. Sorry to hear that. Was hoping you could get it done faster. At least it is warmer now.

walterallenhaxton's avatar

@DREW_R As long as you can find enough secure places to hide your money near enough to the places where you might spend it you are set.

walterallenhaxton's avatar

@DREW_R 42 degrees an high humidity does not feel warm at all. Somebody better tell the sun to do some warming. I think it forgot this cycle.

DREW_R's avatar

@walterallenhaxton It is Alaskas fault! They popped the volcano.

Darbio16's avatar

Bush already signed a deal with Mexico and Canada forming the North American Union in 2005. I believe the increased of talk about the federal reserve from the mass media is clever. For years we were led to believe the Fed was necessary for a stable economy. They have done quite the opposite. So they start talking about the Fed in a negative way on television to influence opinion.

Next we will see a huge crash in the economy and Ron Paul will be standing there saying “See,see, i told you so” and everyone will be freaking out. There may even be a war or a revolution which will result in the realization of the North American Union. I doubt it tho, most Americans are fucking pussies and can only resort to talking shit.

They want us to see the Fed for what it really is in order to advance the ultimate goal, which is to have a central bank for all of North America. Since when is a one world government consistent with America? Or Religion, not that you need to be religious to see the moral benefit.

You will all tell me to fuck off and put on my tinfoil hat, but then in a few years when we have our shiny new Amero and a new High Chancellor of North America you can all kiss my ass.

Ron_C's avatar

@Darbio16 I have to say that I really like Canada. When I was overseas during the Bush presidency, I would tell people that I was Canadian. Nobody hates Canadians.

ItsAHabit's avatar

There is virtually no chance of the Amero becoming a reality. Indeed, it looks as if the Euro is in big trouble as is the European Union itself. Right now it’s Greece, probably to be followed soon by Spain and Portugal. And Italy may be next in line. The prosperous German economy has been holding things together, but that country can’t save the whole continent.

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