The Amero ... again

Globe&Mail :

"Bank of Canada Governor David Dodge says North America could one day embrace a euro-style single currency. (snip)
The idea of a common currency has long been a subject of curiosity, particularly among Canadian academics, who see it as a way to escape sharp gyrations in the exchange rate.(snip)
Some proponents have dubbed the single North American currency the “amero.”It is more likely, however, that a common currency would mean that Canada and Mexico would adopt the U.S. dollar, giving up significant economic control to a central bank dominated by the United States."

In 1999, former Alliance MP Herb Grubal wrote a paper for the Fraser Institute entitled The Case For the Amero : The Economics and Politics of a North American Monetary Union.

In it he describes how in March of 1999, Reform Party members Rob Anders, Rahim Jaffer and Jason Kenney"spearheaded a debate in parliament over the issue of monetary union for North America. In the process, they asked the Prime Minister to form a committee of parliament to study the subject."

Well, so much for "being a subject of curiosity, particularly among academics".

Interesting how far back the public record on this idea goes among the gnugovs, although they do say they were expecting "some resistance".

In endnote #39 to The Case For the Amero, Grubal notes : "Resistance to the amero will be lessened by continuing to call it officially a "dollar" in the United States and Canada."

Oh come on now, Reformers, you know you really want to call it the "The Almighty Dollar" - after, you know, "Him".
However, given the current US trade deficit with China, a very good reason among many other very good reasons for Canada not to consider this idea at all, they might have to settle for the "Almighty Yen".
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SPP : Securing Prosperity for the Plutocracy

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You just gotta love The Fraser Institute.

In their ironically named new report, "International Leadership by a Canada Strong and Free", The Fraser Institute attempts to do for Canada/US deep integration what Last Tango in Paris did for ass-fucking : make it acceptable.

The main thrust of their argument is that Canada should become the world's leading proponent of free trade by boldly throwing open our economy and resources to the US. They explain that the other countries aren't really worth bothering with.

Some exact quotes from the first 75 pages of this fawning lubricant, written by Fraser Institute Senior Fellows Mike Harris, ex-premier of Ontario, and Preston Manning, formerly of the Alliance/Reform Party :

~ Deepening integration with the US economy must be on the agenda as the best way for Canadians to increase our trade, prosperity, and leadership potential.

~For Canada, Mexico’s presence at the NAFTA table is no reason to avoid action on our urgent national interest in pursuing a formal structure to manage irreversible economic and security integration with the United States.

~The 2005 Security and Prosperity Initiative adopted by Prime Minister Martin and President Bush and confirmed by the Harper government a year later laid a promising foundation. Both governments now receive regular status reports on its implementation. The earlier Smart Border Accord gave security and access to the United States a higher priority than before September 11. Both, however, operate within existing laws and policies and are therefore limited in scope. Extracting the full benefit of deeper integration requires a more ambitious initiative.

~ The federal government should revisit the decision not to participate in the Ballistic Missile Defence program

~The central importance of good US-Canada relations to Canada’s interests across virtually every domestic and international issue requires that the federal government make that relationship its highest international priority.

~ In order to facilitate the integrated coordination of their two economies, the two governments need to create a customs union involving a common external tariff, a joint approach to the treatment of third-country goods, a fully integrated energy market, a common approach to trade remedies, and an integrated government procurement regime.

~Government has no place in the decision-making of Canadian consumers, importers, or exporters.

~The tradition of subordinating bilateral cooperation with the United States to the broader North Atlantic Alliance is no longer sustainable.

~If Canadians wish to contribute to global peace and security they can only do so effectively as partners with the United States.

~There is much to be said for Canada and the United States developing a North American energy security accord that looks at the best way to develop and distribute the continent’s resources to the benefit of people on both sides of the border.


Please feel free to make liberal use of the above exact quotes in your letters and phone calls to CBC the next time they interview anyone from The Fraser Institute as an expert on free trade or Canada/US relations.
Probably best not to mention the ass-fucking though.
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WTF is it NAU?

The Royal Bank has been refusing to open American dollar accounts for Canadian citizens with dual citizenship in Iran, Iraq, Cuba, Sudan, North Korea or Myanmar since April 2006.
The Royal Bank has confirmed it is conforming with U.S. Treasury Department laws.

According to CBC :
"A spokesperson for the federal Finance Department said it was unaware of the practice, and that the bank could be liable for heavy fines."

Now, as it happens, the Royal Bank has a blog [Ed. note - and rivetting stuff it is too] and on this blog they are running a contest : The Next Great Innovator Challenge.
Drop by and let them know that your idea of a great innovation is abiding by Canadian law.

Bonus Reading : The Case For the Amero - The Economics and Politics of a North American Monetary Union, a Fraser Institute report by Conservative/Reform Party member Herb Grubel.
I especially liked this line with its quotation marks :
"#39 Resistance to the amero will be lessened by continuing to call it officially a "dollar".