American currency union
Encyclopedia
The North American Currency Union is a theoretical economic and monetary union
of three North American
countries: Canada
, the United States
and Mexico
.
Implementation would involve the three countries giving up their current currency units (U.S. dollar
, Canadian dollar
, and Mexican peso
) and adopting a new one, created specifically for this purpose. (Some versions of the theory, particularly those circulating in Canada, assume only the United States and Canada would be included.) The hypothetical currency for the union is most often referred to as the amero. The concept is modeled on the common European Union
currency (the euro
), and it is argued to be a natural extension of the North American Free Trade Agreement
(NAFTA) and the Security and Prosperity Partnership of North America
(SPP).
Conspiracy theorists
contend that the governments of the United States, Canada, and Mexico are already taking steps to implement such a currency, as part of a "North American Union
(NAU)".
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.
Canada no longer requires a Canada Customs Declaration on products of U.S. or Mexican origin, valued at no more than $2500(CAN), being imported into Canada.
echoed that view and expressed his hope for a greater integration of Canada, Mexico and the United States, including an eventual monetary union, while on a 2007 promotional tour for his book "Revolution of Hope."
and Brazil
have at times tied their currency to
the U.S. dollar. Some of them, such as Aruba
, Bahamas
, Barbados and the Organisation of the Eastern Caribbean still do.
The U.S. dollar is officially accepted alongside local currencies in El Salvador
(since 2001), Costa Rica
, Nicaragua
, Peru
, Honduras
, and Panama
, although in practice two of these countries (El Salvador and Panama) are fully dollarized. In 2000, Ecuador
officially adopted the U.S. dollar as its sole currency. In a few areas of Canada, the U.S. dollar can be accepted as currency alongside the Canadian Dollar, particularly in areas near border crossings. An example of this effect is Niagara Falls, Ontario
, with large numbers of U.S. tourists (businesses still may not accept U.S. currency depending on their policy), likewise, the same is true for the Canadian Dollar in many U.S. cities bordering Canada.
, the first proponent of the amero, admits that American officials show no interest in the topic. He concedes that "there wouldn't be very much benefit for the United States" in an amero. Likewise, the Canadian Department of Finance
strongly opposes the creation of a common currency with the United States, citing the loss of economic sovereignty. In briefing documents to Minister of Finance
Jim Flaherty
, finance officials concluded:
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. 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.
in the management of the currency itself, including the setting of interest rate
s. Amongst the three potential participants, there is considerable difference in policy which would have to be reconciled.
Debt
is a factor affecting currency prices. As of 2010, the debt of the United States continues to increase, while the debt of the Canadian federal government is being reduced. This is a clear advantage for Canadians and it would not be reflected if the currencies were to merge. The importance of commodities also factors into this equation.
A concern with any unified North American currency is the differing economic situations between each country. The Eurozone
is broadly similar being service-based economies based on high public spending (compared to the United States), high taxes and wealth being created by the sale of goods and services. North America on the other hand has three distinct economies; one based mainly on agriculture, industry and manufacturing with a demand for free trade (Mexico
), another based on services such as retail, with higher taxes and low public spending (United States
), and a third based on services with higher taxes and higher public spending, with a large sector in primary goods such as oil, mining and lumber (Canada
).
, a former commentator for CNN
, claims a "North American Union
" is being implemented, without the knowledge and consent of the majority of the people who would be affected by this. This Union, he and others claim, would include a common currency. He has never provided any substantive evidence to support his 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. 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. RES. 40, a resolution advocated by the coalition, that expressed:
The inspiration behind these rumors may have been the posting of images of medallions created by coin designer Daniel Carr. Carr, who designed the New York
and Rhode Island
2001 statehood quarters, sells medals and tokens of his own design on his commercial website, "Designs Computed" (also known as "DC Coin"). Among his designs are a series of gold, silver and copper fantasy issues of amero coins ranging in denomination from one to one thousand. The medallions have the legend "Union of North America" on the back with his company's logo, a stylized "DC", in small type. Concerning his amero designs, he mentions on his website:
Unauthorized postings of images taken from his website have been reposted widely across the Internet, often being used as supposed "proof" of the amero coinage. 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.
Following Turner's assertions of federal minting of ameros, a web site marketing the curio coins released a statement debunking Turner's claims of a government cover up regarding Daniel Carr's amero products. 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'. These coins are merely collectibles offered to the buying public by a private company in the business of manufacturing such curiosities."
Hal Turner claimed that Carr's website had been created in haste in a matter of days expressly to discredit his claim about the coinage.
However, Carr's designs have been available through his website since 2005,
and according to a WHOIS
search at Network Solutions
, the domain "dc-coin.com" was registered by Daniel Carr on September 27, 2005.
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.
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".
user aleatorysort, who created them as an artistic political commentary, and were therefore not actual currency.
Economic and monetary union
An economic and monetary union is a type of trade bloc which is composed of an economic union with a monetary union. It is to be distinguished from a mere monetary union , which does not involve a common market. This is the fifth stage of economic integration...
of three North American
North American
North American generally refers to an entity, people, group, or attribute of North America, especially of the United States and Canada together.-Culture:*North American English, a collective term used to describe American English and Canadian English...
countries: Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
, the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
and Mexico
Mexico
The United Mexican States , commonly known as Mexico , is a federal constitutional republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of...
.
Implementation would involve the three countries giving up their current currency units (U.S. dollar
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....
, Canadian dollar
Canadian dollar
The Canadian dollar is the currency of Canada. As of 2007, the Canadian dollar is the 7th most traded currency in the world. It is abbreviated with the dollar sign $, or C$ to distinguish it from other dollar-denominated currencies...
, and Mexican peso
Mexican peso
The peso is the currency of Mexico. Modern peso and dollar currencies have a common origin in the 15th–19th century Spanish dollar, most continuing to use its sign, "$". The Mexican peso is the 12th most traded currency in the world, the third most traded in the Americas, and by far the most...
) and adopting a new one, created specifically for this purpose. (Some versions of the theory, particularly those circulating in Canada, assume only the United States and Canada would be included.) The hypothetical currency for the union is most often referred to as the amero. The concept is modeled on the common European Union
European Union
The European Union is an economic and political union of 27 independent member states which are located primarily in Europe. The EU traces its origins from the European Coal and Steel Community and the European Economic Community , formed by six countries in 1958...
currency (the euro
Euro
The euro is the official currency of the eurozone: 17 of the 27 member states of the European Union. It is also the currency used by the Institutions of the European Union. The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg,...
), and it is argued to be a natural extension of the North American Free Trade Agreement
North American Free Trade Agreement
The North American Free Trade Agreement or NAFTA is an agreement signed by the governments of Canada, Mexico, and the United States, creating a trilateral trade bloc in North America. The agreement came into force on January 1, 1994. It superseded the Canada – United States Free Trade Agreement...
(NAFTA) and the Security and Prosperity Partnership of North America
Security and Prosperity Partnership of North America
The Security and Prosperity Partnership of North America was a region-level dialogue with the stated purpose of providing greater cooperation on security and economic issues. The Partnership was founded in Waco, Texas on March 23, 2005 by Paul Martin, Prime Minister of Canada, Vicente Fox,...
(SPP).
Conspiracy theorists
Conspiracy theory
A conspiracy theory explains an event as being the result of an alleged plot by a covert group or organization or, more broadly, the idea that important political, social or economic events are the products of secret plots that are largely unknown to the general public.-Usage:The term "conspiracy...
contend that the governments of the United States, Canada, and Mexico are already taking steps to implement such a currency, as part of a "North American Union
North American Union
The North American Union is a theoretical economic union, in some instances also a political union, of Canada, Mexico, and the United States...
(NAU)".
Canada
One argument is that it would save up to $3 billion in currency transactions. The same authors also stated that Canada's GDP could rise by up to 33 percent in a 20-year period given the adoption of a single currency.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.
Canada no longer requires a Canada Customs Declaration on products of U.S. or Mexican origin, valued at no more than $2500(CAN), being imported into Canada.
Mexico
The possibility of a monetary merger has also been discussed in Mexico as a natural step to take after NAFTA. Former Mexican president Vicente FoxVicente Fox
Vicente Fox Quesada is a Mexican former politician who served as President of Mexico from 1 December 2000 to 30 November 2006 and currently serves as co-President of the Centrist Democrat International, an international organization of Christian democratic political parties.Fox was elected...
echoed that view and expressed his hope for a greater integration of Canada, Mexico and the United States, including an eventual monetary union, while on a 2007 promotional tour for his book "Revolution of Hope."
Support in other regions
Lower levels of currency cooperation have been practiced in the Americas before. Some nations such as ArgentinaArgentine peso
The peso is the currency of Argentina, identified by the symbol $ preceding the amount in the same way as many countries using dollar currencies. It is subdivided into 100 centavos. Its ISO 4217 code is ARS...
and Brazil
Brazilian real
The real is the present-day currency of Brazil. Its sign is R$ and its ISO code is BRL. It is subdivided into 100 centavos ....
have at times tied their currency to
Fixed exchange rate
A fixed exchange rate, sometimes called a pegged exchange rate, is a type of exchange rate regime wherein a currency's value is matched to the value of another single currency or to a basket of other currencies, or to another measure of value, such as gold.A fixed exchange rate is usually used to...
the U.S. dollar. Some of them, such as Aruba
Aruban florin
The florin is the currency of Aruba. It is subdivided into 100 cents. The florin was introduced in 1986, replacing the Netherlands Antillean guilder at par.-History:...
, Bahamas
Bahamian dollar
The dollar has been the currency of The Bahamas since 1966. It is normally abbreviated with the dollar sign $, or alternatively B$ to distinguish it from other dollar-denominated currencies. It is divided into 100 cents....
, Barbados and the Organisation of the Eastern Caribbean still do.
The U.S. dollar is officially accepted alongside local currencies in El Salvador
El Salvador
El Salvador or simply Salvador is the smallest and the most densely populated country in Central America. The country's capital city and largest city is San Salvador; Santa Ana and San Miguel are also important cultural and commercial centers in the country and in all of Central America...
(since 2001), Costa Rica
Costa Rica
Costa Rica , officially the Republic of Costa Rica is a multilingual, multiethnic and multicultural country in Central America, bordered by Nicaragua to the north, Panama to the southeast, the Pacific Ocean to the west and the Caribbean Sea to the east....
, Nicaragua
Nicaragua
Nicaragua is the largest country in the Central American American isthmus, bordered by Honduras to the north and Costa Rica to the south. The country is situated between 11 and 14 degrees north of the Equator in the Northern Hemisphere, which places it entirely within the tropics. The Pacific Ocean...
, Peru
Peru
Peru , officially the Republic of Peru , is a country in western South America. It is bordered on the north by Ecuador and Colombia, on the east by Brazil, on the southeast by Bolivia, on the south by Chile, and on the west by the Pacific Ocean....
, Honduras
Honduras
Honduras is a republic in Central America. It was previously known as Spanish Honduras to differentiate it from British Honduras, which became the modern-day state of Belize...
, and Panama
Panama
Panama , officially the Republic of Panama , is the southernmost country of Central America. Situated on the isthmus connecting North and South America, it is bordered by Costa Rica to the northwest, Colombia to the southeast, the Caribbean Sea to the north and the Pacific Ocean to the south. The...
, although in practice two of these countries (El Salvador and Panama) are fully dollarized. In 2000, Ecuador
Ecuador
Ecuador , officially the Republic of Ecuador is a representative democratic republic in South America, bordered by Colombia on the north, Peru on the east and south, and by the Pacific Ocean to the west. It is one of only two countries in South America, along with Chile, that do not have a border...
officially adopted the U.S. dollar as its sole currency. In a few areas of Canada, the U.S. dollar can be accepted as currency alongside the Canadian Dollar, particularly in areas near border crossings. An example of this effect is Niagara Falls, Ontario
Niagara Falls, Ontario
Niagara Falls is a Canadian city on the Niagara River in the Golden Horseshoe region of Southern Ontario. The municipality was incorporated on June 12, 1903...
, with large numbers of U.S. tourists (businesses still may not accept U.S. currency depending on their policy), likewise, the same is true for the Canadian Dollar in many U.S. cities bordering Canada.
Criticisms and problems
Opposition to a North American currency union exists high up in the governments on both sides of the Canada–United States border. Herbert GrubelHerb Grubel
Herbert G. Grubel is a former Canadian politician. He represented the electoral district of Capilano—Howe Sound in the Canadian House of Commons from 1993 to 1997....
, the first proponent of the amero, admits that American officials show no interest in the topic. He concedes that "there wouldn't be very much benefit for the United States" in an amero. Likewise, the Canadian Department of Finance
Department of Finance (Canada)
-Function:Department of Finance Canada operates under the Minister of Finance. Its purpose is to ensure a healthy Canadian economy by developing polices of sound economic management and providing expert advice to the government....
strongly opposes the creation of a common currency with the United States, citing the loss of economic sovereignty. In briefing documents to Minister of Finance
Minister of Finance (Canada)
The Minister of Finance is the Minister of the Crown in the Canadian Cabinet who is responsible each year for presenting the federal government's budget...
Jim Flaherty
Jim Flaherty
James Michael "Jim" Flaherty, PC, MP is Canada's Minister of Finance and he has also served as Ontario's Minister of Finance. From 1995 until 2005, he was the Member of Provincial Parliament for Whitby—Ajax, and a member of the Progressive Conservative Party caucus...
, finance officials concluded:
"A North American common currency would undoubtedly mean for Canada the adoption of the U.S. dollar and U.S. monetary policy. Canada would have to give up its control of domestic inflation and interest rates."
Trade-offs
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
University of California, Santa Barbara
The University of California, Santa Barbara, commonly known as UCSB or UC Santa Barbara, is a public research university and one of the 10 general campuses of the University of California system. The main campus is located on a site in Goleta, California, from Santa Barbara and northwest of Los...
puts forward the idea that 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
Euro
The euro is the official currency of the eurozone: 17 of the 27 member states of the European Union. It is also the currency used by the Institutions of the European Union. The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg,...
, yen or yuan
Renminbi
The Renminbi is the official currency of the People's Republic of China . Renminbi is legal tender in mainland China, but not in Hong Kong or Macau. It is issued by the People's Bank of China, the monetary authority of the PRC...
. 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
Seigniorage
Seigniorage can have the following two meanings:* Seigniorage derived from specie—metal coins, is a tax, added to the total price of a coin , that a customer of the mint had to pay to the mint, and that was sent to the sovereign of the political area.* Seigniorage derived from notes is more...
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
Bank of Canada
The Bank of Canada is Canada's central bank and "lender of last resort". The Bank was created by an Act of Parliament on July 3, 1934 as a privately owned corporation. In 1938, the Bank became a Crown corporation belonging to the Government of Canada...
, the Federal Reserve, and the Banco de México
Banco de México
The Bank of Mexico , abbreviated BdeM or Banxico, is Mexico's central bank and lender of last resort. The Bank of Mexico is autonomous in exercising its functions, and its main objective is to achieve stability in the purchasing power of the national currency.On December 15, 2009, Agustín Carstens...
. 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.
Differing economies
Several problems could arise in regards to macroeconomic management. By submitting to a common currency, the countries would lose considerable autonomyAutonomy
Autonomy is a concept found in moral, political and bioethical philosophy. Within these contexts, it is the capacity of a rational individual to make an informed, un-coerced decision...
in the management of the currency itself, including the setting of interest rate
Interest rate
An interest rate is the rate at which interest is paid by a borrower for the use of money that they borrow from a lender. For example, a small company borrows capital from a bank to buy new assets for their business, and in return the lender receives interest at a predetermined interest rate for...
s. Amongst the three potential participants, there is considerable difference in policy which would have to be reconciled.
Debt
Debt
A debt is an obligation owed by one party to a second party, the creditor; usually this refers to assets granted by the creditor to the debtor, but the term can also be used metaphorically to cover moral obligations and other interactions not based on economic value.A debt is created when a...
is a factor affecting currency prices. As of 2010, the debt of the United States continues to increase, while the debt of the Canadian federal government is being reduced. This is a clear advantage for Canadians and it would not be reflected if the currencies were to merge. The importance of commodities also factors into this equation.
A concern with any unified North American currency is the differing economic situations between each country. The Eurozone
Eurozone
The eurozone , officially called the euro area, is an economic and monetary union of seventeen European Union member states that have adopted the euro as their common currency and sole legal tender...
is broadly similar being service-based economies based on high public spending (compared to the United States), high taxes and wealth being created by the sale of goods and services. North America on the other hand has three distinct economies; one based mainly on agriculture, industry and manufacturing with a demand for free trade (Mexico
Economy of Mexico
The economy of Mexico is the 13th largest in the world in nominal terms and the 11th by purchasing power parity, according to the World Bank.Since the 1994 crisis, administrations have improved the country's macroeconomic fundamentals...
), another based on services such as retail, with higher taxes and low public spending (United States
Economy of the United States
The economy of the United States is the world's largest national economy. Its nominal GDP was estimated to be nearly $14.5 trillion in 2010, approximately a quarter of nominal global GDP. The European Union has a larger collective economy, but is not a single nation...
), and a third based on services with higher taxes and higher public spending, with a large sector in primary goods such as oil, mining and lumber (Canada
Economy of Canada
Canada has the tenth largest economy in the world , is one of the world's wealthiest nations, and is a member of the Organization for Economic Co-operation and Development and Group of Eight . As with other developed nations, the Canadian economy is dominated by the service industry, which employs...
).
Political mandate
Lou DobbsLou Dobbs
Louis Carl "Lou" Dobbs is an American journalist, radio host, television host on the Fox Business Network, and author. He anchored CNN's Lou Dobbs Tonight until November 2009 when he announced on the air that he would leave the 24-hour cable news television network.He was born in Texas and lived...
, a former commentator for CNN
CNN
Cable News Network is a U.S. cable news channel founded in 1980 by Ted Turner. Upon its launch, CNN was the first channel to provide 24-hour television news coverage, and the first all-news television channel in the United States...
, claims a "North American Union
North American Union
The North American Union is a theoretical economic union, in some instances also a political union, of Canada, Mexico, and the United States...
" is being implemented, without the knowledge and consent of the majority of the people who would be affected by this. This Union, he and others claim, would include a common currency. He has never provided any substantive evidence to support his claim.
In 2006, Conservative Caucus Chairman Howard Phillips, WND
WorldNetDaily
WorldNetDaily is an American web site that publishes news and associated content from a U.S. conservative perspective. It was founded in May 1997 by Joseph Farah with the stated intent of "exposing wrongdoing, corruption and abuse of power" and is headquartered in Washington, D.C.-History:In...
columnist and author Jerome Corsi
Jerome Corsi
Jerome Robert Corsi is an American author, political commentator and conspiracy theorist best known for his two New York Times bestselling books: The Obama Nation and Unfit for Command...
, activist Phyllis Schlafly
Phyllis Schlafly
Phyllis McAlpin Stewart Schlafly is a Constitutional lawyer and an American politically conservative activist and author who founded the Eagle Forum. She is known for her opposition to modern feminism ideas and for her campaign against the proposed Equal Rights Amendment...
, among others, reportedly formed a coalition against a North American Union. On January 22, 2007, Republican Representatives Virgil Goode
Virgil Goode
Virgil Hamlin Goode, Jr. , is an American politician, last serving as a Republican member of the United States House of Representatives. He represented the 5th congressional district of Virginia from 1997 to 2009...
of Virginia, Tom Tancredo
Tom Tancredo
Thomas Gerard "Tom" Tancredo is an American politician from Colorado, who represented the state's sixth congressional district in the United States House of Representatives from 1999 to 2009, as a Republican...
of Colorado, Walter Jones
Walter B. Jones
Walter Beaman Jones, Jr. is the U.S. Representative for , serving since 1995. He is a member of the Republican Party. The district encompasses the Outer Banks and areas near the Pamlico Sound. Jones' father was Walter B. Jones, Sr., a Democratic Party congressman from the neighboring 1st district...
of North Carolina, and Ron Paul
Ron Paul
Ronald Ernest "Ron" Paul is an American physician, author and United States Congressman who is seeking to be the Republican Party candidate in the 2012 presidential election. Paul represents Texas's 14th congressional district, which covers an area south and southwest of Houston that includes...
of Texas were among the 43 federal lawmakers who introduced H. CON. RES. 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."
Amero coins
In August 2007, rumors and conspiracy theories began circulating across the Internet regarding alleged United States Treasury-issued amero coins.The inspiration behind these rumors may have been the posting of images of medallions created by coin designer Daniel Carr. Carr, who designed the New York
New York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
and Rhode Island
Rhode Island
The state of Rhode Island and Providence Plantations, more commonly referred to as Rhode Island , is a state in the New England region of the United States. It is the smallest U.S. state by area...
2001 statehood quarters, sells medals and tokens of his own design on his commercial website, "Designs Computed" (also known as "DC Coin"). Among his designs are a series of gold, silver and copper fantasy issues of amero coins ranging in denomination from one to one thousand. The medallions have the legend "Union of North America" on the back with his company's logo, a stylized "DC", in small type. Concerning his amero designs, he mentions on his website:
My goal with these coins is not to endorse a Union of North America or a common Amero currency. I fully support the United States ConstitutionUnited States ConstitutionThe Constitution of the United States is the supreme law of the United States of America. It is the framework for the organization of the United States government and for the relationship of the federal government with the states, citizens, and all people within the United States.The first three...
, and I would not welcome (in any form) a diminishment of its provisions. I expect that these coins will help make more people aware of the issue and the possible ramifications. I leave it up to others to decide if they are in favor of, or against a North American Union. And I encourage citizens to voice their approval or disapproval of government plans that impact them.
Unauthorized postings of images taken from his website have been reposted widely across the Internet, often being used as supposed "proof" of the amero coinage. Notably, white nationalist and former Internet radio
Internet radio
Internet radio is an audio service transmitted via the Internet...
talk show
Talk show
A talk show or chat show is a television program or radio program where one person discuss various topics put forth by a talk show host....
host Hal Turner
Hal Turner
Harold Charles "Hal" Turner is an American white nationalist, Holocaust denier and blogger from North Bergen, New Jersey. In August 2010, he was convicted for making threats against three federal judges with the 7th U.S. Circuit Court of Appeals...
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
United States Department of the Treasury
The Department of the Treasury is an executive department and the treasury of the United States federal government. It was established by an Act of Congress in 1789 to manage government revenue...
by an employee of that organization.
Following Turner's assertions of federal minting of ameros, a web site marketing the curio coins released a statement debunking Turner's claims of a government cover up regarding Daniel Carr's amero products. The urban legend
Urban legend
An urban legend, urban myth, urban tale, or contemporary legend, is a form of modern folklore consisting of stories that may or may not have been believed by their tellers to be true...
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'. These coins are merely collectibles offered to the buying public by a private company in the business of manufacturing such curiosities."
Hal Turner claimed that Carr's website had been created in haste in a matter of days expressly to discredit his claim about the coinage.
However, Carr's designs have been available through his website since 2005,
and according to a WHOIS
WHOIS
WHOIS is a query and response protocol that is widely used for querying databases that store the registered users or assignees of an Internet resource, such as a domain name, an IP address block, or an autonomous system, but is also used for a wider range of other information. The protocol stores...
search at Network Solutions
Network Solutions
Network Solutions, LLC is a technology company founded in 1979. The domain name registration business has become the most important division of the company. As of January 2009, Network Solutions managed more than 6.6 million domain names.-History:...
, the domain "dc-coin.com" was registered by Daniel Carr on September 27, 2005.
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.
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".
Amero bills
On December 3, 2008, Hal Turner's blog featured what he claimed were genuine "amero bills". He displayed photographs of purported 20, 50, and 100 amero notes. Turner did not identify how he obtained the images, saying only that "once again, my sources have come through". He claimed that the "new currency is already being printed and quietly distributed around the world". The web site Snopes.com suggested Turner was "beating the same tired, apocryphal drum" with his new claim. These images are art from the FlickrFlickr
Flickr is an image hosting and video hosting website, web services suite, and online community that was created by Ludicorp in 2004 and acquired by Yahoo! in 2005. In addition to being a popular website for users to share and embed personal photographs, the service is widely used by bloggers to...
user aleatorysort, who created them as an artistic political commentary, and were therefore not actual currency.
See also
- North American UnionNorth American UnionThe North American Union is a theoretical economic union, in some instances also a political union, of Canada, Mexico, and the United States...
- Security and Prosperity Partnership of North AmericaSecurity and Prosperity Partnership of North AmericaThe Security and Prosperity Partnership of North America was a region-level dialogue with the stated purpose of providing greater cooperation on security and economic issues. The Partnership was founded in Waco, Texas on March 23, 2005 by Paul Martin, Prime Minister of Canada, Vicente Fox,...
- North American Free Trade AgreementNorth American Free Trade AgreementThe North American Free Trade Agreement or NAFTA is an agreement signed by the governments of Canada, Mexico, and the United States, creating a trilateral trade bloc in North America. The agreement came into force on January 1, 1994. It superseded the Canada – United States Free Trade Agreement...
- List of trade blocs
- Monetary union
- European Currency UnitEuropean Currency UnitThe European Currency Unit was a basket of the currencies of the European Community member states, used as the unit of account of the European Community before being replaced by the euro on 1 January 1999, at parity. The ECU itself replaced the European Unit of Account, also at parity, on 13...
- World Currency UnitWorld Currency UnitA world currency unit is a concept of monetary foreign exchange that surfaced after the Great Depression and the financial crisis created by World War II uncovered the deficiencies of the Gold Standard....
- United States dollarUnited States dollarThe United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....
- Canadian dollarCanadian dollarThe Canadian dollar is the currency of Canada. As of 2007, the Canadian dollar is the 7th most traded currency in the world. It is abbreviated with the dollar sign $, or C$ to distinguish it from other dollar-denominated currencies...
- Mexican pesoMexican pesoThe peso is the currency of Mexico. Modern peso and dollar currencies have a common origin in the 15th–19th century Spanish dollar, most continuing to use its sign, "$". The Mexican peso is the 12th most traded currency in the world, the third most traded in the Americas, and by far the most...
- East Caribbean dollarEast Caribbean dollarThe East Caribbean dollar is the currency of eight of the nine members of the Organisation of Eastern Caribbean States...
- EuroEuroThe euro is the official currency of the eurozone: 17 of the 27 member states of the European Union. It is also the currency used by the Institutions of the European Union. The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg,...
- KhaleejiKhaleeji (currency)The Khaleeji was a proposed name for the common currency of the member states of the GCC or Cooperation Council for the Arab States of the Gulf, except for Oman, and the U.A.E.. The term 'Khaleeji' is Arabic for "of the Gulf", and is traditionally associated with the Arab states of the Persian Gulf...
- African Monetary UnionAfrican Monetary UnionThe African Monetary Union is the proposed creation of an economic and monetary union for the countries of the African Union, administered by the African Central Bank...
- EcoEco (currency)The Eco is the proposed name for the common currency that the West African Monetary Zone plans to introduce in the framework of ECOWAS. Originally the introduction of the currency was planned for December 1, 2009, however this date was revised to 2015. The original five member states are the...
- Special Drawing RightsSpecial Drawing RightsSpecial Drawing Rights are supplementary foreign exchange reserve assets defined and maintained by the International Monetary Fund . Not a currency, SDRs instead represent a claim to currency held by IMF member countries for which they may be exchanged...
External links
- SPP in the U.S., Canada, and Mexico
- Mexican President Vicente Fox Interview on CNN - Transcripts
- Fraser Institute - The Case for the Amero
- Alternative Amero Currency Article
- AMERO: What it Means for the U.S.
- Canadians Completely Unaware of Looming North American Union
- "Conspiracy Watch: The Amero",
- Pastor, Dr. Robert A., Testimony invited by the Subcommittee on the Western Hemisphere of the United States Senate Foreign Relations Committee 9 June 2005
- Steve Previs on CNBC