The unstable financial situation in the world, growing foreign debt on US and the falling oil prices are all paving way for the collapse of dollar and it may no more remain as the world’s major currency.
Sharp decline in the value of dollar against the euro, and other major currencies of the world has become a matter of global concern, this issue is giving rise to as to how long the dollar can hold its place as the world’s major currency . Since long, the dollar has strongly occupied the world’s trade, it has been a common currency in world businesses, more than 80% of transactions from all corners of the world take place in dollars.
It is likely that the world might bid good bye to US dollar and shake hands with a new currency amero which will replace American dollar, the Canadian dollar and Mexican Peso, this news has been under covers for a while now and is slowly gaining exposure. According to American Daily 07/05/07 the collapse of American dollar and amero making its way is a sign that there is a possibility of North American Union being formed. This has been extracted from the article written by Judi McLeod, a famous journalist who operates the website Canada Free Press. According to his vision the invention of this new currency will take place stealthily and the American public will learn about it only once it is into the market.
It is predicted by many US experts that the fall of American dollar is imminent. Although, the US authorities justify its stand considering this as rumors and promise to keep the dollar floating, the latest buzz is that the US is reportedly working on a new currency and its pictures have already arrived on Russian internet.
The unstable financial situation in the world, growing foreign debt on US and the falling oil prices are all paving way for the collapse of dollar. US has highest demand for consumption in the world and largest imports when compared to exports, this created a depreciation of dollar as the outflow of dollar outdid the inflow of any other currency from exports. This led to inflation and made consumables costlier to US this is one simple reason out of many as to why the dollar is shaking up.
As the American economy is slowing down global investors are taking back to invest their money in dollars and are putting them into euros, British pounds and Japanese yen. Oil producing countries no more want to accumulate all the dollars they are getting for their oil, since it’s worth less, as a result, they are converting them into other major currencies, this is sending more dollars into currency markets, which in turn is declining the dollar’s value. For instance, Russia used to have 90 percent of its financial reserves in dollars.
It now has 45 percent in dollars, 45 percent in euros and 10 percent in British pounds as per one economic analyst who told ABC news in Feb 2008. The billions of dollars invested by China with American economy will be worthless and they may have to negotiate it with amero.
According to a report from one of the blogs on internet recently written 3 Dec 2008 by an American citizen Hal Turner, it is known that amero coins were being secretly mint at Denver Mint in September 2007. In October 2008 the US government shipped 800 billion ameros to the China Development Bank. There is a video out there placed on You Tube showing the coin and explaining the possible efforts of the government to exhaust the dollar as a currency.
It is without the consent of a single American citizen or authorization of congress that this new currency is being secretly printed and circulated around the world. On October 16, 2008, It was broadcast on the "Global-Europe AnticipationBulletin" that the present U.S. Dollar will be demonetized (it won't be "money" anymore) and a new currency imposed. “Old dollars" will be devalued by ninety percent (90%). This means the dollar will lose its value by 90%. News posted on 5 october 2007 on WorldNetDaily.com says that Amero may be the currency of North America in next 10 years this can boost Mexico economy to a considerable level.
But it is also true that fake amero currency has been making rounds on internet which looks much like Canadian currency, so people need to be cautious not to buy them. Whether the amero currency is going to be a reality or not still remains a topic of debate. Coming to the description of amero currency it is learnt that amero notes have no portraits of US presidents on them and resemble the Belarussian rubles.For instance, there is an image of a deer depicted on a 50-amero note, and a picture of a pyramid of Mexican Indians can be seen on a 100-amero note.
Former Mexican President Vicente Fox last year confirmed the existence of a plan to create a new currency in apprehension with President Bush, indicating it was a long term plan, he declared this in an interview on CNN's "Larry King Live”. It probably was the first time a leader of Mexico, Canada or the U.S. openly confirmed a plan for the innovation of a new currency. It is known through various news channels that the governments of the United States, Canada, and Mexico are already taking steps to implement such a currency.
This idea was first proposed in 1999 by Canadian economist Herbert G.Grubel. A book titled The Case for the amero in September 1999 was published by a senior fellow of the conservative Fraser Institute, this was the year when euro became a virtual currency. Another Canadian think-tank, the C.D. Howe Institute, advocates the formation of a shared common currency between Canada and the United States . When the report was out the nationalists groups in Canada opposed this because they viewed it as a threat by American businesses to gain access to their extensive natural resources.
Lets wait and watch what the future holds in its hand…. Dollar or amero
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