I was at a family party recently when the conversation turned to talking about US currency vs. Canadian and Mexican currency. Then some spoke up that he heard earlier this year that they were talking about creating one form for the entire North American and continent, encompassing the USA, Canada, and Mexico. They also said that this form of currency will take place by 2009. I had not heard this anywhere else and I'm on MSNBC quite a lot. Has anyone else heard this and if so can you provide a link to a news article talking about it?
2007-07-30 06:48:59 · 4 answers · asked by Amy V 3 in News & Events ➔ Other - News & Events
It would not be possible until Mexico had about three decades of stable peso values. The peso has flucuated wildly over the years and it would be very difficult. I think someone might have been thinking that it would be nice like the Euro but I don't know that the Euro is all that successful in Europe, or the whole common market idea there. I don't think what you are suggesting is practical or possible.
2007-07-30 07:23:34 · answer #1 · answered by Tom W 6 · 1⤊ 0⤋
I've never heard of that, and I doubt that the US would ever agree to such a thing. The economic ramifications of such an act would be devestating. In order for such a currency to have any use to the average person in, say, Mexico or Bolivia, the value of a given denomonation would have to be fractions of what a dollar is worth.
yeeblazer- we're not on the gold standard any more. For several decades (not sure exactly when) we've been on a 'faith-based' standard...which just means 'hey trust us!' I guess.
2007-07-30 13:56:27 · answer #2 · answered by niwriffej 6 · 1⤊ 0⤋
I have not heard that and it seems to me that it would not work - The amount of us money printed is supposed to be equal to the amount of gold we have (or so i thought) in any case, the money a country prints holds different values in different countries so making one form of currency for multiple countries is essentially saying that a dollar is worth the same no matter where you go - which just isn't true.
2007-07-30 13:58:18 · answer #3 · answered by Anonymous · 0⤊ 0⤋
How would they be able to do this when Mexico hasn't any money. I don't think so.
2007-07-30 17:15:12 · answer #4 · answered by cowboydoc 7 · 0⤊ 0⤋