The Dollar Bill Is So Overrated

With all the markets and world economies on a downward slop, some have pointed towards drastic and perhaps some outrageous ideas to turn things around, some even had the idea of a world currency, although highly unlikely it would be something to marvel at and it would raise the worth of the American dollar bill. The most realistic idea is the Amero. The idea for a North American currency union was first proposed in 1999 by Canadian economist Herbert G. Grubel. 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. A 2001 opinion poll found that in Quebec over 50 percent of respondents favored the idea of a shared currency, while in the rest of Canada a majority of respondents opposed the idea.

THE TRADE OFF:

The United States simply has too many advantages from the status quo to move toward a single currency. The United States dollar already acts as a global currency, meaning any transition to a 'new' currency would risk compromising this position and could cause a shift toward the euro, yen or yuan. 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 adoption of the Amero could threaten the seigniorage that the U.S. currently gains from its dollar. While seignorage would still be gained from the Amero, this would be shared among the Bank of Canada, the Federal Reserve, and the Banco de México. Therefore, even if the Amero were used just as much as the U.S. dollar, the advantages would be shared among two or more countries, and not exclusively earned by the United States.

My Opinion:

This idea of a world currency is crazy, although i would love to see it, and maybe see what would happened with its worth, i just don't think its economically sound. But the Amero on the other hand is actually a good idea, to bring in two or more countries is worth it, not only would it expand our range with trading, but also the ability to stabilize the economy in times of a recession. The idea of having more than countries involved in a single currency is always a better option. Of course traditionalist would disagree saying something like "that un-American like" or " Get-r-done" haha Some times change is a good thing, with the way the world is going, i would say....lets keep and open mind OK.

Amero should have President Obama's face on it. Don't argue, we have Benjamin Franklin on a bill, and he was a dirty man who wasn't even president.