North American monetary union
The idea of a common currency has historically been unpopular in English-speaking Canada, in comparison to the French-speaking province of Quebec where it has received more support.
[1] Likewise, the Canadian Department of Finance strongly opposes the creation of a common currency with the United States, citing the loss of economic sovereignty.
Canada would have to give up its control of domestic inflation and interest rates.From the point of view of the Canadian and Mexican governments, a major obstacle to the creation of a unified currency is the sheer dominance of the United States in any such union.
A paper from University of California, Santa Barbara puts forward the idea that the United States simply has too many advantages from the status quo to move toward a single currency.
[citation needed] The U.S. dollar is currently being used in over half of all the world's exports, double the total United States foreign trade.
The national budgets and debt levels of Canada, the United States, and Mexico, on the other hand, are also set completely independently, which could cause similar problems in a situation where monetary policy was centralized.
The report focused on uncertainty prior to Felipe Calderón taking office as President of Mexico in late 2006, but never provided any substantive evidence to support this claim.
In 2006, Conservative Caucus Chairman Howard Phillips, WND columnist and author Jerome Corsi, activist Phyllis Schlafly, among others, reportedly formed a coalition against a North American Union.
[23] On January 22, 2007, Republican Representatives Virgil Goode of Virginia, Tom Tancredo of Colorado, Walter Jones of North Carolina, and Ron Paul of Texas were among the 43 federal lawmakers who introduced H. CON.
40, a resolution advocated by the coalition, that expressed: The sense of Congress that the United States should not engage in the construction of a North American Free Trade Agreement (NAFTA) Superhighway System or enter into a North American Union (NAU) with Mexico or Canada.In August 2007, rumors and conspiracy theories began circulating across the Internet regarding alleged United States Treasury-issued amero coins.
Notably, white nationalist and former Internet radio talk show host Hal Turner ran a full article on his website about the "amero coin", claiming to have arranged for a United States Government minted "amero" to be smuggled out of the United States Department of the Treasury by an employee of that organization.
[28] The urban legend investigating Web site Snopes also ran a further counter to Turner's claims, stating "neither the U.S. Mint nor the U.S. Treasury has a hand in creating these 'Ameros'.
[31] In October 2008, Hal Turner released a video showing an apparent 20 amero coin, with claims that shipments of the currency had been sent to China.
[32] Yet the coin in Hal Turner's video is identical to a medallion on Daniel Carr's "dc-coin" website, listed as "UNA 2007 20 Ameros, Copper, Satin Finish".
[29][failed verification] These images are art from the Flickr user aleatorysort,[35] who created them as an artistic political commentary, and were therefore not actual currency.
