Here is the formula a Frasier institute (corporate driven) fellow is proposin as our only option to unify not just our currenct, but put it under the direction and auspices of the federal reserve. Not that they aren't in lockstep somewhat now, but this is the way they will combine currencies and who controls it. Of course they want to peg the canadian loonie at $.90 to the US and of course we will accept this. Anything to get into the back pocket or whole trousers of their American masters.
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The article contends that Canada is currently suffering from what the author refers to as the 'Dutch Disease', "which is named after the problems that developed in the 1960s when the Netherlands sold natural gas that had been discovered on its coast. The increases in Dutch exports of resources, like those of Canada in recent years, resulted in a strong appreciation of exchange rates, which was reinforced by interest rate policies of central banks and currency speculators." It further states that, "The disease manifests itself through the loss of domestic manufacturers' ability to compete abroad and with imports." The author then contends that, "The disease manifests itself through the loss of domestic manufacturers' ability to compete abroad and with imports," and that, "The Bank of Canada can keep interest rates low to discourage capital inflows and thus exchange rate increases, but at the cost of fuelling inflationary pressures."
The author then states that there is only one true cure for Canada's 'Dutch Disease', "inoculation of the system by fixing the exchange rate at a level that allows manufacturers to be competitive, perhaps at the rate the Bank of Canada research identifies as the long-run equilibrium, around US90¢." The author goes on to explain the reasoning behind this by giving the example that, "The Netherlands and Austria in the years before the introduction of the euro successfully operated such a system and enjoyed near perfectly stable exchange rates against the German currency. The essential ingredient in this success was the official commitment of the central banks of these two countries to maintain the same interest rate as that of the German central bank."
So if Canada were to do the same in relation to the US dollar, then Canadian interest rates would be subject to the rates set by the US Federal Reserve, with our Bank of Canada lock in step. The author goes on to say, "An analogous commitment by the Bank of Canada with respect to U.S. interest rates may not be credible, tested by speculators and therefore ultimately doomed to failure." Then the article continues, and makes a startling announcement:
"However, there is a solution to this lack of credibility. In Europe, it came through the creation of the euro and formal end of the ability of national central banks to set interest rates. The analogous creation of the amero is not possible without the unlikely co-operation of the United States.
A list of Canada's talking heads is here as well and is a who's who of scumbag elites all linked like the CFR. I guess we're just up and coming and this is still the minors, but these clowns sure love to be in bed with American money, so it is no wonder we are being sold to America. After all you are our #1 trading partner and another territory for you much like Puerto Rico.
The concluding statement-
So clearly, there is a move on toward a regional currency for North America, in conjunction with the formation of a North American Union. Monetary sovereignty, and especially the power to create and issue money, is perhaps more central to the idea of a free, democratic and sovereign nation than the right to vote. If we do not have the power over the issuance of money, it does not matter whom we vote for. It's the Golden Rule: he who has the gold, makes the rules. We, as Canadians, and other peoples of their respective nations should never relinquish this sovereignty over to regional boards, private banks, or other unaccountable individuals. It is our right, not a privilege, and giving up such a right is akin to giving up the right to vote; it is anathema to democracy and a free society.
After Vincente Fox was on Larry King and said that it was a long term from implementation, I decided that I hope it doesn`t happen until I`m dead and gone. Let the children deal with it now.
That is our moral imperative- to pass on our problems to our children after all.
Cerveza por favor gringo!