Unofficialbmw.com

[tncean]

Like the Euro. US, Canada, Mexico, and I guess a few others, form an economic union. New $ is created. Guess the banks love this.

The things you hear on a golf course.


tncean

[donaldan]

A unified currency is workable only if individual countries have similar living standards, social policy, free labor and capital movements - in other words, some semblence of cordinated economic policy/direction. Or else, there will be total chaos. The immediate consequence of our subscribing to an "Amero" would be an immediate lowering of our living standards due to income disparity with Mexico.

A good example is the reunification of Germany when the Western Germany's Duetsch Marks were imposed on the former East Germany. There was an massive infusion of money from West Germany to prop up the economy of the East. For years, West Germans have to divy up income tax surcharges to pay for it. If not for such massive rescue effort, the German Marks would not be worth anything.

That is why the South Koreans are frightened stiff the prospect of reuniting with the North. The cost for the average South Koreans to pull the North from extreme poverty would be enormous. Common currency is a two way sword when two dissimliar economies are merged.

I don't think average Americans would stand losing our economic independence. That is why the British, by popular vote, refused to join the Euro currency system in spite of strong urging of the British politicians to join the Euro zone. That is why for a number of years, the UK economy prospered while the Euro area remained stagnant. Now after many years, it is clear that the average British on the streets knew better than the politicians. We better learn from the Brits.
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Don

[tncean]

As long as the Arabs accept the US $ for payment, guess we'll be ok.

No doubt in my mind the US economy is lubricated by oil. Without it, the machine would grind to a halt.

tncean