London Stock Trader Urges Move to 'AMERO'

World Net Daily ^ | 11/28/06 | Jerome R. Corsi

[Kimberly GG]

In an interview with CNBC, a vice president for a prominent London investment firm yesterday urged a move away from the dollar to the "amero," a coming North American currency, he said, that "will have a big impact on everybody's life, in Canada, the U.S. and Mexico."

Steve Previs, a vice president at Jefferies International Ltd., explained the Amero "is the proposed new currency for the North American Community which is being developed right now between Canada, the U.S. and Mexico."

The aim, he said, according to a transcript provided by CNBC to WND, is to make a "borderless community, much like the European Union, with the U.S. dollar, the Canadian dollar and the Mexican peso being replaced by the amero."

Previs told the television audience many Canadians are "upset" about the amero. Most Americans outside of Texas largely are unaware of the amero or the plans to integrate North America, Previs observed, claiming many are just "putting their head in the sand" over the plans.

CNBC asked Previs whether he thought NAFTA was "working and doing enough."

He replied: "Until it created a lot of illegal immigrants coming across the border. I don't know. You get the pros and cons on NAFTA. For some people it is a good thing, and for other people it has been a disaster."

The speculation on the future of a new North American currency came amid a major U.S. dollar sell-off worldwide that began last week.

Yesterday, the dollar also reached new multi-month low against the euro, breaking through the $1.30 per euro technical high that had held since April 2005.

At the same time, the Chinese central bank set the yuan at 7.0402 per dollar, the highest level since Beijing established a new currency exchange system in 2005 that severed China's previous policy of tying the value of the yuan to the U.S. dollar.

Many analysts worldwide attributed the dramatic fall in the value of the U.S. dollar at least partially to China's announcement last week that it would seek to diversify its foreign exchange currency holdings away from the U.S. dollar. China recently has crossed the threshold of holding $1 trillion in U.S. dollar foreign-exchange reserves, surpassing Japan as the largest holder in the world.

Barry Ritholtz, chief market strategist for Ritholtz Research & Analytics in New York City, in a phone interview with WND, characterized today's downward move of the dollar as "wackage," a new word he coined to convey that the dollar is being "whacked" in this current market movement.

Ritholtz told WND that yesterday's downward move "was a major market correction that points to the risk of subsequent downside to the dollar."

Asked whether he would characterize the dollar's downside move as signaling a possible collapse, Mr Ritholtz told WND, "Not yet."

Ritholtz pointed out market professionals had long looked at a dollar collapse as a "low probability event," but the recent fall suggests "the probabilities have increased of a major dollar correction, or even of a collapse."

U.S. trade imbalances with China have hit a record $228 billion this year, largely reflecting a surging flow of containers from China with retail goods headed for the U.S. mass market.

Secretary of Commerce Carlos Gutierrez is in Bejing leading a trade delegation of more than two dozen U.S. business executives.

"The future should be focused on exporting to China," Guiterrez told reporters in Bejing, noting that this year, U.S. exports to China are up 34 percent on a year-to-year basis, surpassing last year's gain of 20 percent.

One way to improve the U.S. trade imbalance may be to ease up on restrictions of exporting high-tech products and allowing technology transfers to China, a move likely to be politically charged in the U.S.

The decline in value of the dollar will also make U.S. exports more attractive and Chinese exports to the U.S. more expensive.

In February 2007, a virtually unprecedented top-level U.S. economic mission is scheduled to travel to China. Included in the mission are Treasury Secretary Henry Paulson, Jr., Secretary of Commerce Carlos Gutierrez and Federal Reserve Chairman Ben Bernanke.

Previs declined to be interviewed for this article, telling WND in an e-mail he did not want to be quoted directly in any article that may express a political point of view.

[Toddsterpatriot]

Back in the early 1990s,most british people never thought the Euro would come into existance.

I'm pointing and laughing at you. Again.

[MadIvan]

Read the damn site:

Security and Prosperity Partnership of North America (SPP): Myth vs. Fact

Myth: The SPP was an agreement signed by Presidents Bush and his Mexican and Canadian counterparts in Waco, TX, on March 23, 2005.

Fact: The SPP is a dialogue to increase security and enhance prosperity among the three countries. The SPP is not an agreement nor is it a treaty. In fact, no agreement was ever signed.

Myth: The SPP is a movement to merge the United States, Mexico, and Canada into a North American Union and establish a common currency.

Fact: The cooperative efforts under the SPP, which can be found in detail at www.spp.gov, seek to make the United States, Canada and Mexico open to legitimate trade and closed to terrorism and crime. It does not change our courts or legislative processes and respects the sovereignty of the United States, Mexico, and Canada. The SPP in no way, shape or form considers the creation of a European Union-like structure or a common currency. The SPP does not attempt to modify our sovereignty or currency or change the American system of government designed by our Founding Fathers.

Myth: The SPP is being undertaken without the knowledge of the U.S. Congress.

Fact: U.S. agencies involved with SPP regularly update and consult with members of Congress on our efforts and plans.

Myth: The SPP infringes on the sovereignty of the United States.

Fact: The SPP respects and leaves the unique cultural and legal framework of each of the three countries intact. Nothing in the SPP undermines the U.S. Constitution. In no way does the SPP infringe upon the sovereignty of the United States.

Myth: The SPP is illegal and violates the Constitution.

Fact: The SPP is legal and in no way violates the Constitution or affects the legal authorities of the participating executive agencies. Indeed, the SPP is an opportunity for the governments of the United States, Canada, and Mexico to discuss common goals and identify ways to enhance each nationÂ’s security and prosperity. If an action is identified, U.S. federal agencies can only operate within U.S. law to address these issues. The Departments of Commerce and Homeland Security coordinate the efforts of the agencies responsible for the various initiatives under the prosperity and security pillars of the SPP. If an agency were to decide a regulatory change is desirable through the cooperative efforts of SPP, that agency is required to conform to all existing U.S. laws and administrative procedures, including an opportunity to comment.

Myth: The SPP will cost U.S. taxpayers money.

Fact: The SPP is being implemented with existing budget resources. Over the long-term, it will save U.S. taxpayers money by cutting through costly red tape and reducing redundant paperwork. This initiative will benefit the taxpayers through economic gain and increased security, thereby enhancing the competitiveness and quality of life in our countries.

Myth: The working groups and SPP documents are a secret and not available to the public.

Fact: The SPPÂ’s initiatives and milestones with timelines can be found by clicking the Report to Leaders link at www.spp.gov. The Web site contains a section to enable interested persons to provide input directly to the various working groups.

Myth: The SPP seeks to lower U.S. standards through a regulatory cooperation framework.

Fact: The framework will support and enhance cooperation and encourage the compatibility of regulations among the three partners while maintaining high standards of health and safety. Enhanced cooperation in this area will provide consumers with more affordable, safer, and more diversified and innovative products. Any regulatory changes will require agencies to conform to all U.S. administrative procedures, including an opportunity to comment.

Myth: The SPP is meant to deal with immigration reform and trade disputes.

Fact: Immigration reform is a legislative matter currently being debated in Congress and is not being dealt with in the SPP. Likewise, trade disputes between the United States, Canada, and Mexico are resolved in the NAFTA and WTO mechanisms and not the SPP.

Myth: The SPP will result in the loss of American jobs.

Fact: The SPP seeks to create jobs by reducing transaction costs and unnecessary burdens for U.S. companies, which will bolster the competitiveness of our firms globally. These efforts will help U.S. manufacturers, spur job creation, and benefit consumers.

Myth: The SPP will harm our quality of life.

Fact: The SPP improves the safety and well-being of Americans. It builds on efforts to protect our environment, improves our ability to combat infectious diseases, such as avian influenza, and ensures our food supply is safe through the exchange of information and cooperation ─ improving the quality of life for U.S. citizens. Americans enjoy world class living standards because we are engaged with the world.

Myth: The SPP creates a NAFTA-plus legal status between the three countries.

Fact: The SPP does not seek to rewrite or renegotiate NAFTA. It creates no NAFTA-plus legal status.

_____

You can shut up and sit at the back of the room now.

Ivan

[Toddsterpatriot]

What does that have to do with your ignorance of currencies?

[William Terrell]

It appears that you are allergic to differences of opinion. If or when such a monetary drive becomes apparent, what will you say of stupidity then? You simply have another opinion, neither their opinion or yours resolve to truth.

Here in America, over the decades, we have seen many egregious departures from the founding principles of our form of government. You can't deny that.

Any bloomin' idiot can see that if you don't secure your borders that invaders that have no common cause with the indigenous people, and actually harmful thereto, will flood same. The border isn't secure, even though many years and countless opinion polls indicate the vast majority of people support it.

We have documented meetings of our executives with the executives of Canada and Mexico, wherein consolidation of the countries was discussed. The documentation, both linked and verbatim has been posted on FR several times so surely you must have seen it.

We have an official .gov (I pretty sure it was .gov, I could be wrong) website that organized action toward North American Regionalization. We have public statement of government and economic officials over the past thirty years that clarify desire, need and compelling interest in regionalizing North America.

It is only a short conceptual distance to a consolidated currency. Under this rubric, a consolidate currency not only makes sense but is required.

There are entirely too many interests a consolidated region would serve, financial, economic and production to be had from human resources managed under stricter limits on liberties.

I believe you must look at vectors rather than current instances. Any military man would advise his CIC to attend to the potential use of assets rather than the current use thereof to make decisions for defense. The political power, through the law, a willing media and biased education is there and growing.

I'm not going to sit on my arse with the calm conviction that "it can't happen to us". I think it wise to be watchful, for the assignation of "stupidity" does so shift with the winds of time.

[William Terrell]

I repeat - anyone who says you're ditching the dollar for the Amero anytime soon is a fantasist or a liar.

But, my dear British brother, "anytime soon" is so begging of definition, yes?

[MadIvan]

I already addressed the .gov website in a previous post. Please READ it and realise that you're getting bent out of shape over nothing.

I am not allergic to differences of opinion - what I am allergic to is people persisting in an opinion when the facts are completely, totally and utterly stacked against them. It's the hallmark of the far left that they continue to place their feelings and ideas about the world ahead of what is actually there - it's a damn shame when people on the supposed political right ape this behaviour.

I reiterate - there is no drive to a single currency. No treaty has been signed (as confirmed on the spp.gov website), no plans are in play, no infrastructure has been set up - it is just an idea being kicked around. Reacting like a paranoid lunatic about such matters is pointless and stupid and deserves to be treated as pointless and stupid. You are wasting everyone's time with this drivel when there are genuine problems to worry about.

Ivan

[MadIvan]

But, my dear British brother, "anytime soon" is so begging of definition, yes?

It would take 10 years at least from the moment the treaty has been signed. There isn't even a treaty. Hell, it took the EU nearly 50 years to realise they wanted a common currency. NAFTA is not anywhere near the EU in terms of authority, bureaucracy or regulation.

The Canadians have pointed out also that America isn't interested either. The chances of it ever happening are extremely remote. For reasons which I've already described, it COULD NOT happen in secret.

Are you going to stop wasting my time and everyone else's time with this?

Ivan

[Toddsterpatriot]

Steve Previs, a vice president at Jefferies International Ltd., explained the Amero "is the proposed new currency for the North American Community which is being developed right now between Canada, the U.S. and Mexico."

Being developed right now? LOL!

[Kimberly GG]

Yeah, you're right! How the heck did this fool make it to become VP of Jefferies? Stupid fellow, making up such a lie and risking the loss of his company's investors over some dumb conspiracy. Bet he's already been fired for that one!

/sarc off

[Arizona Carolyn]

All I'm saying is I googled Steve Previs + Jefferies International Ltd and I found several hits other than this article.

[Toddsterpatriot]

How the heck did this fool make it to become VP of Jefferies?

What is it about a VP of Jefferies that would make the "Amero" a good idea? What is it about a VP of Jefferies that gives him the inside scoop about "secret" government meetings? Wow, a VP, I'm impressed! LOL!

[yoe]

(link-progress)

(more than talk?)

(more)

(SPP)

(SPP)

(Canada)

(Pics)

Stay tuned - this is an on going plan that due to biased media was not widely publicized nor found its way into pundit led talk shows - too much forward thinking or showing Bush as a leader? You decide. No tin foil here…………….

[MadIvan]

This is insane. The first three links talk about a big new road being built. What's the problem - you want a dirt track instead?

The next links are for the SPP - which I've already posted the contents of the SPP page - no treaties have been signed, there is no governing body being set up, there is no political or monetary union in the offing. It's amazing how governments even talking to each other can be construed as one world government, the sky is falling, we're all doomed.

Anyone who believes that within the next 50 to 100 years there will be a political and monetary union of the United States, Canada and Mexico is a crank.

Ivan

[Smartass]

Thanks for info and links.
Keep the info coming.

 

[Tolerance Sucks Rocks]

Hell, it took the EU nearly 50 years to realise they wanted a common currency.

It wasn't always the EU. In the 1950s, I believe, the whole contraption started out as the European Common Market.

[Tolerance Sucks Rocks]

I'm not sure that such a "NAFTA Superhighway" is even being planned. One FReeper, however, has said he's heard economists talking about that; they could be misled, for all I know. Also, the spp.gov website does mention that at least one working group is studying mult-modal corridors.

The only similar projects that I know of that are actually in the planning stages are TTC-35 and TTC-69 (Trans-Texas Corridor), and they're strictly in Texas (for now).

[tmp02]

This doesn't answer any of the questions that the American people have. It is a smoke screen. Of course they have to post something.

Questions like:
Who do you answer to in Congress?

Who pays for this effort? taxpayers

Why is this so quite? This may be a little conspiracy for you. NAFTA was on every newspaper. It failed.




Do you think this myths page can come down at any time? As soon as the 'myths' section goes down, does it mean that they can do what ever they want? and then change the currency?




So I'm guessing that Mexico and Canada with go for the American dollar. NOT.

[tmp02]

Actually, I have to take this back about the myths page. They are answering to the Congress. Great!
They do modify the Myths page. It was not the same as in the beginning. So the outcry is doing something! Maybe you are right. The Pastor and others seem to have brought this to the public's attention in time. Maybe there will be no currency change if we are insistent.

[tmp02]

Wouldn't Treasury decide whether the Amero is made or not, not spp.gov or the Bank of Canada? We need docs from Treasury.

[William Terrell]

Well, we will see in the coming years, won't we.