The Americas' Dollar, or American Dollar will be the North-Central-South American Union Currency. I have no doubts. Back in the early to mid-90's there was a lot of speculation that NAFTA would create the beginning of the Trade Zone with Canada-US-Mexico initially, followed by the entire Hemisphere falling under one financial currency. In those days, it was felt the US Dollar was about 60-70% overvalued to make this a reality for the likes of Pedro and Maria in Mexico and those from countries South of the Boarder. It was also a neat trick for the Democrat Party to use immigration to implement what the Unions would block by enjoining Mexico into a closer economic union with the US. Eventually, we may see China and other hostile trade partners get short-changed with the currency issue if we have disputes unworkable in G8.
Today, the World Bankers (G7/8-20 and IMF) have achieved the beginnings of parity across the globes currencies, allowing valuations for products and similar sizing of products to make international trade standardized. In order that the entire Western World work together, it requires the US Standard of Living to recede, which we are seeing in the Age of Obama - his policies are really just making way for the Americas' Union to mesh nicely with the EU on all issues. Eventually, products will cost the same in Europe and the US, and it takes a realignment of the US Free Market into a crony capitalist model with a social welfare state to underpin the workers across the economy; while I believe Europe is experiencing a complete failure of their Social Welfare State and pulling back from the tax system in small measures, the US is rushing headlong to joining them.
What country would relinquish its right to set punitive tariffs on imported goods in order to protect its local manufacturing of those same goods?
What country would relinquish its ability to tweak taxes/labor in order to encourage foreign investment.... look at the govt subsidized movie business in Vancouver, B.C., taking a significant portion of Hollywood production. I don't know all that much theory, but I doubt Canada would unilaterally stop this behavior.
What country would inflate itself to death so the good folks in Zambia can afford to buy a case of beer for 5-cents of their currency?
It's quite simple, from my own personal opinion. I don't want my standard of living to "recede", as you say. We, and our forefathers worked too hard to build what we have, simply to let a bunch of communist yobbos at the U.N. take it all away from us. I'm for cultural and economic sovereignty. The IMF and the Fed can go to hell.