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The Amero, Multinational Currencies, Globalization, And Related

Below are links and brief excerpts on the Amero and related interests.




World Net Daily Reacts To CFR

On May 09, 2007, WorldNet Daily published a critical reaction to the CFR's (Council on Foreign Relations') article on global currencies. WND journalist Jerome R. Corsi hammered the CFR article, giving readers a grasp on what sinister planning lies behind the CFR article.



The CFR's View - By The CFR

On page 83 of the CFR's journal "Foreign Affairs", in the May-June 2007 issue, is the article by Benn Steil entitled "The End Of National Currency".  For those who did not purchase their copy of Foreign Affairs, the article is online here:


As we now see, the demise of the U.S. dollar has been planned for years. It is to be replaced with the Amero. The Amero shall be a multi-national currency which, when in use, shall destroy another portion of American sovereignty. Coupled with the so-called "free trade agreements" such as NAFTA, CAFTA,  and the FTAA or NAU, the Amero - or whichever alternate name is assigned to our first multinational currency - and its relationship to off-shoring the American manufacturing base, off-shoring the American job base, and the migration of low-wage-earning workers from outside our borders.....

Also, the Fraser Institute unleashed years ago a broadside upon all (using here Brzezinski's word) 'barbarians' such as you and I who may come together to oppose the Amero. The Fraser Institute made the case for a regional currency which would replace the U.S. dollar. You can read that issue online at their website:


From that website link:

The Case for the Amero:

The Economics and Politics of a North American Monetary Union

by Herbert G. Grubel

foreword by Gordon Gibson


bullet Foreword by Gordon Gibson
bullet Executive Summary
bullet The Institutions of a North American Monetary Union
bullet Optimum Currency Areas
bullet Efficiency Gains from Monetary Union
bullet The Costs: Loss of Economic, Political, and Cultural Sovereignty
bullet What Is in It for the Americans?
bullet Alternatives to the Amero
bullet Some Other Important Issues
bullet The Politics of Monetary Union
bullet Appendix: Assessing Alternative Approaches to Exchange Rate Fixity
bullet Notes
bullet References
bullet Acknowledgments

Click here to view a PDF version of this document (1.1MB)



I am grateful to the John Dobson Foundation whose generous endowment of the David Somerville Chair has made it possible for me to write this paper at the Fraser Institute after my mandatory retirement from Simon Fraser University at age 65. I thank Michael Walker for comments on the first draft and acknowledge the valuable insights gained during the Western Washington Conference on Monetary Union on April 30, 1999. My special thanks also go to Benjamin Cohen and William Robson who made some valuable, detailed comments on a later draft of the paper. Remaining errors of fact or judgement are mine.


Critical Issues Bulletins

Critical Issues Bulletins are published from time to time by The Fraser Institute (Vancouver, British Columbia, Canada) as supplements to Fraser Forum, the Institute's monthly periodical. Critical Issues Bulletins are comprehensive studies of single issues of critical importance for public policy.

The authors have worked independently and opinions expressed by them are, therefore, their own, and do not necessarily reflect the opinions of the members or the trustees of The Fraser Institute.

For additional copies of Critical Issues Bulletins, any of our other publications, or a catalogue of the Institute's publications, call our toll-free order line: 1-800-665-3558 or visit our web site at http://www.fraserinstitute.ca.

For information about publications of The Fraser Institute and about ordering, please contact Lucretia Cullen

via telephone: (604) 688-0221, ext. 580
via fax: (604) 688-8539
via e-mail: publications@fraserinstitute.ca.

Copyright© 1999 by The Fraser Institute
Date of Issue: September 1999

Printed in Canada


(end excerpts from Fraser Institute article linked above)


From the Fraser Institute's web site...:


...we learn this about the author above, Dr. Grubel - "Herbert G. Grubel is David Somerville Chair in Taxation and Finance, The Fraser Institute, and Professor of Economics (Emeritus), Simon Fraser University. He has a B.A. from Rutgers University and a Ph.D. in economics from Yale University. He has taught full-time at Stanford University, the University of Chicago, and the University of Pennsylvania; and has had temporary appointments at universities in Berlin, Singapore, Cape Town, Nairobi, Oxford, and Canberra. Herbert Grubel was the Reform Party Member of Parliament for Capliano-Howe Sound from 1993 to 1997, serving as the Finance Critic from 1995 to 1997. He has published 16 books and 180 professional articles in economics dealing with international trade and finance and a wide range of economic policy issues.

Also from the Fraser Institute's web site is a listing of resources:


http://www.aims.ca Atlantic Institute for Market Studies
http://www.aei.org American Enterprise Institute
http://www.atlas-fdn.org Atlas Economic Research Foundation
http://www.cato.org Cato Institute
http://www.ekome.gr EKOME (Society for Social and Economic Studies) (Greek)
http://www.free-market.net Free-Market.net
http://www.freetheworld.com Free The World
http://www.heritage.org The Heritage Foundation
http://www.independent.org The Independent Institute
http://mason.gmu.edu/~ihs/ Institute for Humane Studies
http://www.iea.org.uk Institute of Economic Affairs
http://www.ipa.org.au Institute of Public Affairs (Australia)
http://www.fnst.org/libinst/ Liberales Institute der Friedrich Naumann Stiftung (German)
http://www.iedm.org Montreal Economic Institute (Institut Economique de Montreal)
http://www.ncpa.org National Center for Policy Analysis
http://www.pacificresearch.org Pacific Research Institute
http://www.perc.org Political Economy Research Center



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 EA note: During the week of May 16, 2007, Glenn Beck spoke the word "Amero" on his radio show. That, in addition to his having now spoken the name of Carroll Quigley three times in the past half-year (Fall of 2006 - Spring of 2007) with emphasis on Quigley's tome, Tragedy And Hope. Mr. Beck continues to deny the obvious, but he also continues to attempt to think for himself. The more he thinks for himself, the more his network of staff and assistants and parallel industry cohorts, as well as some of his friends, may likely bring him to finally see the monstrous dimensions of the behemoth of globalization as being executed by those heirs of the Cecil Rhodes dream. Beck tells us to keep our guns and our full 2nd Amendment "rights" as Constitutionally guaranteed, yet he mocks anyone who would suggest that the mechanism of and propaganda program of the economic/political/geo "imperatives"* has given resort to fabricated false-flag terrorism as a driver for global sustainability. Mr. Beck cannot afford to actually view the CBS/Dan Rather footage of the implosion of the 47-Storey steel-framed building known as World Trade Center-7 at 5:20 p.m. on the afternoon of September 11, 2001 - more than five hours after the twin towers had collapsed, and despite the fact that no airplane hit the building (WTC-7) - with an open and honesty-seeking mind because that footage is damning to the government's story about what hit America on 911. So Glenn Beck is yet within his chrysalis of innocence - by virtue of an inserted program of denial which continues to keep him in ignorance. Ignorance is in some ways a metaphor for innocence.  I have some qualified small glimmers of hope for Glenn Beck, however, because he has at least seen part of the picture. He has actually advised his listening audience to turn off their television sets and avoid the news-headlines and sound-bytes.  He has told his audience to prepare themselves with survival groceries and supplies, just in case. He often demonstrates a very human touch with his children and wife, as a man who had faced his mortality might learn to do. Beck has some saving graces. But his faults are noticeable yet, so I enjoy his show with an added weight of patience. For example, Glenn Beck enjoys attacking Michael Moore's "fatness". That is immature and is a known method of trying to defend the indefensible. It is called, "attacking the messenger". Glenn Beck does that at times, and he always uses that fallacy when he attacks Michael Moore. Glenn Beck has not, to my knowledge, bothered to discuss the "message" borne by such a fat man. Could that be because Moore was right about the Bush family's business and friendship ties with the Saudi bin Laden family and the Saudi Royal family? And could that be because Moore was absolutely right when he published the truth about the timing of the government-protected flights of the bin Laden family out of America after 911? At the time those flights occurred, the air space through which they flew was still indeed forbidden air space - to such flights - through authority of NORAD, the Pentagon, the White House, and the FAA. Glenn Beck knows that he cannot afford to admit such facts, so he shunts one's attention by harping on Michael Moore's weight. Glenn, you can do better than that. Glenn Beck, why not tell your listening audience all you know about the Amero and the men behind its conception? Why not give your audience the pleasure and honor of receiving the whole truth as you see and know it, and let the people themselves determine what to make of it all.....? Why not talk about what is in Brigham Young University's physics department - the thermate put there by Dr. Steven E. Jones, as it came from the rubble of the World Trade Center's attack of September 11, 2001?



from here on May 09, 2007:



Goodbye U.S. dollar, hello global currency
CFR chief: Monetary nationalism, sovereignty should be abandoned

Posted: May 9, 2007
1:00 a.m. Eastern


By Jerome R. Corsi
© 2007 WorldNetDaily.com

The director of international economics at the Council on Foreign Relations has launched a scathing attack on sovereignty and national currencies.

Benn Steil, writing in the current issue of CFR's influential Foreign Affairs magazine, says "the world needs to abandon unwanted currencies, replacing them with dollars, euros, and multinational currencies as yet unborn."

In the article, "The End of National Currency," Steil clearly asserts the dollar and the euro are temporary currencies, perhaps necessary today. He argues "economic development outside the process of globalization is no longer possible."

His inevitable conclusion is "countries should abandon monetary nationalism."

Steil tempers his embrace of one world currency, writing, "Governments should replace national currencies with the dollar or the euro or, in the case of Asia, collaborate to produce a new multinational currency over a comparably large and economically diversified area."

He concludes: "It is the market that made the dollar into global money – and what the market giveth, the market can taketh away. If the tailors balk and the dollar falls, the market may privatize money on its own."

The "tailors" Steil has in mind are the world's central bankers. He advises that the U.S. needs "to perpetuate the sound money policies of former Federal Reserve chairmen Paul Volker and Alan Greenspan and return to long-term fiscal discipline." In our current era of large and growing trade imbalances and over $35 trillion in GAAP (Generally Accepted Accounting Principles) accounted federal deficits, these targets appear unlikely.

Steil concludes "the foreign tailors, with their massive and growing holdings of dollar debt" no longer feel "wealthy and secure" in the economic environment of a resultant falling dollar. The inevitable conclusion is that the dollar, too, may be on the way out.

Steil's essay is antagonistic to the ideas of sovereignty and national currencies.

He writes, "The right course is not to return to a mythical past of monetary sovereignty, with governments controlling local interest and exchange rates in blissful ignorance of the rest of the world. Governments must let go of the fatal notion that nationhood requires them to make and control the money used in their territory."

Steil has ultimate confidence that economic globalism is irreversible, with national currencies doomed to the dustbin of history.

"In order to globalize safely," he advises, "countries should abandon monetary nationalism and abolish unwanted currencies, the source of much of today's instability."

Steil believes continued economic growth demands a global flow of capital unimpeded by the barriers inherent to "monetary nationalism." He asserts barriers created by monetary nationalism, such as national exchange rates or national monetary policy regimes, inevitably impede capital flow and cause currency crises as a consequence.

Steil fundamentally argues, "Monetary nationalism is simply incompatible with globalism."

Since Steil believes that only globalism offers the unrestrained flow of capital needed for worldwide economic development, he contends even re-establishing a gold standard would be counter-productive when the only real solution is to abandon the idea that nations have any reason to create currencies at all.

Throughout his analysis, Steil cautions that dependence upon the dollar or the euro as global currencies is not fundamental to his argument.

He stresses that "the dollar's privileged status as today's global money is not heaven-bestowed. The dollar is ultimately just another money supported only by faith that others will willingly accept it in the future in return for the same sort of valuable things it bought in the past."

In other words, if the institutions of the U.S. government fail to validate that faith, the dollar, too, merits being abandoned.

"Reckless U.S. fiscal policy is undermining the dollar's position even as the currency's role as a global money is expanding," he notes.

Steil imagines the ultimate solution is to privatize a global currency through a gold-based international monetary system.

"A new gold-based international monetary system surely sounds far-fetched," he concludes. "But so, in 1900 did a monetary system without gold. Modern technology makes a revival of gold money, through private gold banks, possible even without government support."

WND previously reported Steve Previs, a vice president at Jeffries International Ltd., in London, told CNBC Nov. 27, 2006, the amero "is the proposed new currency for the North American Community which is being developed right now between Canada, the U.S., and Mexico."

A video clip of the CNBC interview with Jeffries is now available for viewing at YouTube.com.

WND also has reported a continued slide in the value of the dollar on world currency markets could set up conditions in which the adoption of the amero as a North American currency gains momentum.

The amero was first proposed as a North American unitary currency by Canadian economist Herbert G. Grubel of the Fraser Institute in Vancouver, British Columbia.

In a publication entitled "The Case for the Amero," Grubel argued that a North American monetary union would eliminate the costs of currency trading and risk, furthering the development of a North American common market along the model of the European Common Market.

Robert Pastor, director of the Center for North American Studies at American University, supported Grubel's arguments for the amero.

In his 2001 book entitled Toward a North American Community, Pastor supported Grubel's suggestion that the creation of the amero would be accompanied by the creation of a Central Bank of North America, similar to the European Central Bank.

Grubel's argument on the amero has also been published as a book in Spanish, entitled El Amero: Una Moneda Comun para Améica del Norte, published by CIDAC (Centro de Investigación para el Desarrollo), the Center for Research for Development in Mexico.


From Global Research / Information Clearing House, a tremendous article on global currency by Andrew G. Marshall titled The Financial New World Order. This is one of the finest articles I've found to date (May, 2009) on globalization's use of economic tools to accomplish the global government. Can't recommend this article highly enough - don't miss this one! Mirrored here at JRC with links.

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