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What Would Happen To Canada If They Adopted The U.S Dollar ?

What Would Happen To Canada If They Adopted The U.S Dollar ?

Machjo

#31

Re: What Would Happen To Canada If They Adopted The U.S Dollar ?

Jun 12th, 2009

Quote: Originally Posted by Toro

The United States is not interested in the free movement of labour across borders.

And the US will never, ever give up its monetary sovereignty. If there is a common central bank, it will be based in Washington, and it will be called "The Federal Reserve," and it will be answerable only to the United States Congress.

So what would be stopping Canada from adopting the euro? While such a step would help to bring Canada closer to the EU, it woud do nothing to harm Canada-US relations. In fact, it might even help to develop closer ties between the US and the EU too wihtout hurting relations with Canada. A plus all-round.

We need to stop thinking of ourselves as puppets of the US, who can't do anything unless the US is invovled. Of course we can be proactive in developing ties with other countries independently of the US.

Toro

#32

Re: What Would Happen To Canada If They Adopted The U.S Dollar ?

Jun 13th, 2009

Canada shouldn't adopt the euro because the economies are not integrated. That would be far, far worse than adopting the dollar. At least with the dollar, there are economic arguments for entering a monetary union with the US. There are none with the euro.

Canada should not adopt anybody else's currency. The monetary authorities in Canada have done a very good job at preserving the value of the loonie. Canadians should be proud at the strength of their currency.

ironsides

No Party Affiliation

#33

Re: What Would Happen To Canada If They Adopted The U.S Dollar ?

Jun 13th, 2009

Quote: Originally Posted by ballmoney1

Hopping to get long answers or sites sources ....... I have a write-up that has to be done tonight and passed in tomorrow .. so I'm looking for idea's .. THANKS !

If anyone is really interested in what is and has happened to out economies read this book. Sure answers a lot of the why's of what is and has happened.

The Creature from Jekyll Island: A Lecture on the Federal Reserve "G. Edward Griffin exposes the most blatant scam of all history. It’s all here: the cause of wars, boom-bust cycles, inflation, depression, prosperity.

YouTube - G Edward Griffin TRASHES the FED - 712 08

Ever wonder why just about all countries based their currency upon the U.S. dollar? The U.S. was the only country who's dollar was not backed by gold.

taxslave

No Party Affiliation

#34

Re: What Would Happen To Canada If They Adopted The U.S Dollar ?

Jun 13th, 2009

Perhaps a common world currency? I don't know enough about the finer workings of currency trading but it would seem to me that as an exporting economy it would be convenient to have a world price and not have to translate it into various different coins. The way it works now people who contribute nothing to the economy can make or loose money simply by trading currencies. ANd sometimes they cause serious problems for the real economy by doing this.

Machjo

#35

Re: What Would Happen To Canada If They Adopted The U.S Dollar ?

Jun 13th, 2009

Quote: Originally Posted by taxslave

Perhaps a common world currency? I don't know enough about the finer workings of currency trading but it would seem to me that as an exporting economy it would be convenient to have a world price and not have to translate it into various different coins. The way it works now people who contribute nothing to the economy can make or loose money simply by trading currencies. ANd sometimes they cause serious problems for the real economy by doing this.

I'd be all for this as long as it is in fact a world currency shared by all and not just one nation's currency imposed on all other countries.

Machjo

#36

Re: What Would Happen To Canada If They Adopted The U.S Dollar ?

Jun 13th, 2009

And I fully agree with the other point Taxslave brought up about currency brokers essentially functioning as a parasite in the money markets by producing neither product nor service to the economy yet skimming money off the top in each intr-currency transaction.

Now don't misunderstand me here. Certainly as long as we have more than one currency, we need these currency brokers, so to that extent, the existence of currency brokers is not through any fault of their own, but rather trhough incompetence on the part of world governments in being able to agree on a common currency.

And as for those concerned about developing countries, this would also help to stabilize their currencies too, thus helping them to develop.

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