February 13, 2007

Toronto bankers promote Amero (North American common currency)

From January 3 comes this:

If Canadians are going to debate the idea of a single North American currency, "now is the time it should be on the table," according to the chief economist at Toronto Dominion Bank [Don Drummond]...

[...discussion of and promotion of the Euro...]

...So, if you believe the single currency has been a good thing for Europe, could it be a good thing for North America?

"If you go back to FTA and then NAFTA," Drummond said, "the Number 1 premise behind those from a Canadian perspective was a message to the world: `Locate in Canada and you have free unfettered access to the wealthiest market in the world.'

"That was true to some extent, but you've had two irritations. One, you don't have a common currency, so you have exchange rate risk if you're operating in Canada. The second is the border difficulties.

"Clearly, a common currency, or at least a linked currency, would address one of those two," Drummond said.

[Canadian Imperial Bank of Commerce/CIBC World Markets economist Benjamin Tal] argued "the costs of a single currency and the loss of monetary policy independence outweigh the benefits...

Posted to NAU at February 13, 2007 09:57 PM

Comments

Including Mexico means that it is not the wealthiest market in the world per capita.
They are making propagnada for what they want for other reasons, or to primp their image for traitorous internationalism, on their way to some government job.

Posted by: John S Bolton at February 13, 2007 11:55 PM

We already have a North American Union. Its the union called the 50 States. The United States of America. Mexico, Canada, buzz off. Bush, stop creeping around in the dark like a petty burglar. SPP, NAFTA, NAU, government business should be loud and clear and wide open to the public. With the exception of military defense, of course. When we see, hear, learn of our government leaders sneaking around, making agreements with no publicity, no fanfare, we know YOU ARE UP TO NO GOOD, and that we are about to get screwed big time. Knock it off. Conduct your business in the light of day. If you can't brag about what you are doing to this country on PAGE ONE, then you are probably doing something very wrong to this country.

Build the wall. Impeach Bush, then deport him, strip him of citizenship.

Posted by: Jeebie at February 15, 2007 03:53 PM