Tuesday, May 22, 2007

Amero Paranoia

I've recently read a few blogs that have discussed the creation of a "new currency" called the Amero, which supposedly is being clandestinely prepared to replace the currencies of Mexico, Canada and the United States. Once again the conspiracy theorists and pessimists, who believe America is in decline and the collapse of the dollar imminent, are seizing upon the news of a decline in the dollar as a reason for spreading their paranoia. They cite the rise of China as an economic power, and the trade imbalance we have with them as further evidence to support theories of the collapse of the dollar, even as China prepares to buy $3 billion of stock in Blackstone Group's IPO, in order to diversify their portfolio.

I did a search on the net to find more information about the Amero, and found ONE page of references to it. I've copied the best source I found, which has links to just about all the other articles you can find on the net, for those of you who might be interested in reading just about all there is on the subject. It is always important to find out all you can about a subject, before you report it as fact. My interpretation of the information about the Amero is that we are a long way from any serious discussion about such a currency, and even further away from relinquishing our sovereignity through the actual adoption of it.

The links didn't transfer over to this blog, but if you would like to see the same information with the links included, please go to my blog on myspace: http://blog.myspace.com/jerseybenefits

Here is the information I've researched:

"Sovereignty is not infinitely valuable"
Herb Grubel

These are the words of a Canadian advocate for the creation of a new currency for North American
countries. His theories seem to lead the pack of similar philosophers and economists.

In a foreword for Grubel's study on the prospect, Gordon Gibson characterizes the situation as such:
"Most fundamentally however, Mr. Grubel makes the sensible observation that "sovereignty is not
infinitely valuable." Every nation in the world, even the mighty United States, has traded off
elements of sovereignty to multi-national associations such as the WTO, NAFTA, and the United
Nations. Canada has been in the forefront of encouraging every such development--a natural policy
for a middle power."
For a "middle power" whose economy is weak and exchange rate declining steadily, such a maneuver
may be in the best interest. This is not the case when the strongest economy in the world, the United
States of America, considers diluting its monetary system with Mexico, a third world, "developing" nation
and Canada, a second socialist nation on our two land borders.

Further, U.S. sovereignty is, perhaps, our most precious facet, as defined in our Declaration of
Independence and Constitution. Our sovereignty is part of the formula that makes our Republic the most
unique political and cultural experiment in the history of civilization.

Rather than try to decode, re-describe and publish commentary on the prevailing philosophies and
arguments surrounding the need and advantages for a common hemispheric currency, this site provides
links to information from legitimate proponents and detractors.

Be advised that there is a lot of code and doublespeak in these articles. Few of the more elaborate
articles discuss the disadvantages to the U.S., but concentrate on the advantages to Canada and Mexico.
The most significant and timely aspect of the movement involves current U.S. participation in a
elaborate international program called the "Security and Prosperity Partnership Of North America, "
described elsewhere on this site.

The link-listing method on this site is in development. If you have particular comments or would like to
inform the host of this site as to a link to be reviewed for inclusion in this or any other section of this site,
please visit the "contact" page and inform us by email."

These links reach discussions of the "Amero, " "dollarization" and offer insight to the conditions of the
U.S. dollar, as well as Canadian and Mexican currencies.
The Case for the Amero: The Economics and Politics of a North American Monetary Union
Herbert G. Grubel--Herbert G. Grubel was David Somerville Chair in Taxation and Finance, The Fraser
Institute, and Professor of Economics (Emeritus), Simon Fraser University. He has a B.A. from
Rutgers University and a Ph.D. in economics from Yale University. He has taught full-time at Stanford
University, the University of Chicago, and the University of Pennsylvania; and has had temporary
appointments at universities in Berlin, Singapore, Cape Town, Nairobi, Oxford, and Canberra.
Herbert Grubel was the Reform Party Member of Parliament for Capliano-Howe Sound from 1993 to
1997, serving as the Finance Critic from 1995 to 1997. He has published 16 books and 180
professional articles in economics dealing with international trade and finance and a wide range of
economic policy issues.

The Plan to Replace the Dollar With the 'Amero'
Mr. Corsi is the author of several books, including "Unfit for Command: Swift Boat Veterans Speak
Out Against John Kerry" (along with John O'Neill), "Black Gold Stranglehold: The Myth of Scarcity
and the Politics of Oil" (along with Craig R. Smith), and "Atomic Iran: How the Terrorist Regime
Bought the Bomb and American Politicians." He is a frequent guest on the G. Gordon Liddy radio
show. He will soon co-author a new book with Jim Gilchrist on the Minuteman Project.

American University
The Threat of the Dollar: A case study

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