Posted on 12/17/2010 7:49:30 PM PST by Purrsiancat
When the Canadians in 1987 started to emboss a common loon on the back of their dollar coin, it affectionately became known as the loonie. That affection has since worn thin as a successful investor calls for its abandonment.
Herbert Grubel, a Canadian economist who developed the concept of a North American currency comparable to the euro, recommends that Canada come up with a new Canadian dollar to replace the current one.
(Excerpt) Read more at examiner.com ...
Ping.
Personally, I like the Loonie.
I don’t think we have to worry about the amero anytime soon. The Canadians and the Mexicans are not going to debase their currency in order to make it compatible with the US dollar. At the current rate the dollar is dropping we will be lucky to get 100 dollars per peso in 10 years.And the Canadian dollar? Man, I can’t even imagine
And when Canada released the $2 coin shortly after the “Loonie”, it quickly became the “two-ney”.....yep, LOONIE and TOONIE, get it?? Loonie Toons. Folks, you can’t make this stuff up.
Oh yeah. The Euro has worked out so well. The Germans want the D Mark back and the Italians also want the Lira.
Thank God for Harper. He is not going to allow any Hussein insanity on his watch.
I like the design of the coin and that of some Canadian currency.
LOL! I was just think about when the Kenyan seized power or the 2008 Dem primaries. O-hussein and the Dems talked about how they were going to reopen the NA Trade Agreement/NAFTA and make it “fair.”.
I forget exactly what was said but Canada said that China would love all that Canadian oil - so if you want to renegotiate the treaty go for it.
I’ve suspected that part of the Obama master plan was to make the dollar so worthless as to declare it bankrupt and replace it with a new currency that would be under much tighter government control over what individuals could buy and sell.
I’m not sure he can pull this off now. They needed to crash the economy twice as hard as they did. But it would explain the massive acquiring of debt and the gross mismanagement of the economy the Obama Administration practiced for the first two years.
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December 16th, 2010 1:28 pm PT.Do you like this story?
When the Canadians in 1987 started to emboss a common loon on the back of their dollar coin, it affectionately became known as the loonie. That affection has since worn thin as a successful investor calls for its abandonment.
Herbert Grubel, a Canadian economist who developed the concept of a North American currency comparable to the euro, recommends that Canada come up with a new Canadian dollar to replace the current one.
Right now the loonie is worth a little more than our dollar and so causes Canada’s exports to be more expensive in the U.S. market. Gruber believes a new currency valued at par with or a little less than the U.S. dollar would prevent the problem that the Dutch had a few years back. When the Dutch economy became more valuable, they increased their exports and experienced a strong appreciation of exchange rates, causing a disadvantage for Dutch manufacturers to compete abroad with their imports.
Canadian export success is mostly because of the U.S. A more expensive Canadian dollar threatens to harm that success, and Grubel is blaming their big dog neighbor for not helping them avoid that harm. Why does he blame us? Because we do not want to agree to the creation of the amero, at least not right now.
In Europe the Dutch problem was solved when the euro eliminated national currencies, forcing all countries to operate under interest rates set by the European Central Bank. Grubel refers to that fact as he complains:
“The analogous creation of the amero is not possible without the unlikely co-operation of the United States.”
Stephen Jarislowski, a billionaire money manager and investor, agrees and believes that Canada and the U.S. should move to a common North American currency. He says that neither of us need to cling to national dollar currencies, just abandon them.
“I think we have to really seriously start thinking of the model of a continental currency just like Europe.”
“Some 85 percent of our exports are headed for the U.S. market. Our economy is tied to the U.S. dollar, whether we like it or not.”
“We don’t have a single mill in Canada which isn’t losing cash at the current exchange rate despite the fact we invested hundreds of millions in dollars into new equipment when we had the money. I believe that if we stay at the present levels, the entire forest products industry practically is going to be in liquidation-bankruptcy and there’s going to be an enormous loss of employment.”
“I know Finance Minister Flaherty quite well. Sure, first he will have to deny he is taking seriously the idea of a new currency, then later he will come out and say he was forced to create one anyway. Pretty soon, the Finance Ministry will have no choice but to create a new currency unless the Canadian dollar all of a sudden changes course and reverses against the U.S. dollar all on its own.”
“In the provinces we are already seeing economic activity slowdown because of the rise in value of the Canadian dollar. If our automobile and lumber industries begin to decline, we will have a serious recession as a result.”
“The Finance Ministry knows how closely our economy in Canada is tied to the U.S. market. A common currency would avoid the problems we are now facing with currency exchange risk added to the normal risks of doing business.”
“The amero conspiracy,” according to Drake Bennett in a 2007 Boston Globe piece, is a goal which “will soon fuse Canada, the United States, and Mexico into a single economic and political unit.”
“Global government and elites who secretly sell out their own citizenry have long been staples of conspiracy theories, thanks in part to the Book of Revelation’s warning that world government will be an early indicator of the Apocalypse......For most of the 20th century, American conspiracy theories tended to focus on communist infiltration of the upper echelons of the US government. The founder of the John Birch Society, a leading source of such imagined schemes, accused President Dwight Eisenhower and Secretary of State John Foster Dulles, among many others, of being communist agents....
Indeed, while the threat of a continental merger is, in the United States, primarily a conservative concern, in Canada it has its greatest resonance on the left, where it is seen as an attempt by American business interests to take over our northern neighbor, dismantle its social services, and privatize its abundant natural resources....”
Confusing, isn’t it?
Video, “NAFTA 2010 (Get Ready for the Amero),” click here.
“North-American Monetary Integration: Here Comes the Amero,” click here.
“Amero to become USA’s new currency when dollar collapses,” click here.
No easy fix for loonie “In sum, the status quo is the only politically acceptable solution for Canada, even if it may not be the best economic solution (in fact, it is second best). Until this reality changes, the debate concerning the loonie and monetary integration with the United States will continue to be sterile. Let’s rather focus our energies on finding ways to make trade easier within Canada, as well as with the United States.”
“Amero Enterprise Launches New Nursing Grants Website, NursingGrants.us,” click here.
Associated Foreign Exchange 509-488-3945, 97 S. 1st Ave, Othello, WA 99344 (57.6MI from Yakima)
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Thanks for the ping, Army Air Corps.
"Personally, I like the Loonie."And the Twoonie:
Of course, the Yanks never took to the two dollar bill, but Canadians always found it a usefull denomination, all the more so now that one and two dollar denominations are coins.
The coins are handy for parking meters, although in Toronto most parking meters accept credit cards.
I thought it was changed and the NWO Currency is supposed to be called the Bancor?
A paper entitled “Reserve Accumulation and International Monetary Stability” by the Strategy, Policy and Review Department of the IMF recommends that the world adopt a global currency called the “Bancor” and that a global central bank be established to administer that currency. The report is dated April 13, 2010 and a full copy can be read here.
http://www.imf.org/external/np/pp/eng/2010/041310.pdf
That is a nice looking coin. I do not think that I have one in my collection. There are parking meters that accept credit cards? I learn something new every day.
Yes, but they freeze up when it gets cold out, and if it snows the by-law officer can't see the ticket on the dashboard.
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