International Currency - Give me the pros, the cons, and lin

[Pete]

I'm doing this project for my Politics class on Canada adopting the American currency. I am against it. My teacher, showing lack of knowledge, put me in a group called "People Against Globalization." She meant radical leftists like me :D Just didn't have the term right. So since this is a parlimentary committee, I am representing a special interest group. So could you guys, cappies and leftists alike, give me your opinions on this issue. Links to support and proof would be benifical.

[Larissa]

Well, Pete. Basically I am against "dollarization" or whatever one common Int'l currency is adopted because, IMO, it would only benefit US worldwide businesses and interests (both politically and financially). I think we should always protest neoliberal economic policies promoted by the World Bank and International Monetary Fund.

I found this site and I think it gives some idea of the reasons why ppl are against or in favour.
http://stlouisfed.org/news/releases/2001/10_30_01.html

[Blibblob]

One currency will be good for not having to change it when going to another country, but then the capitalists ***** that they dont get enough money for their american dollars.

And i am against money completly anyways, lets just share our goods, instead of replacing them with paper.

[Pete]

Thanks Larissa :D And Blibblob I agree with you. But of course being in an education system designed for the industrial revolution, so I cannot suggest the abolition of money. Remember, this teacher thinks there are people against globalization, not people for globalization against capitalization.

[Larissa]

Also, you could search some info about what happened to Ecuador when they adopted the US currency. For instance, if someone earned about 200 or 300 pesos a month then he/she would earn 200/300 dollars a month. BUT, the cost of life highly increased and in the end they were not able to buy or pay for the same stuff they used to buy or pay for.

In Argentina, after the Dec 2001's economic collapse, the exchange rate (previously 1 peso = 1 US dollar) raised up to 3.5 pesos = 1 dollar. The cost of life increased three times more, but salaries have not. Some salaries have even been lowered and many people were fired from their jobs or couldn't renew their work contracts. So, I believe every country should keep its own currency unless the whole world becomes communist, which will not happen no matter how much we wish this could be achieved.

[MEXCAN]

Last week,Mexican farmers had a protest in mexico city.They say that NAFTA is killing them.It's impossible for these local corn growers to compete against the american and canadian imports.What NAFTA does,is it allows imports to go free of trade,thus making it cheaper than the mexican product !!!

[Pete]

The US is subsidizing all of their farmers using the tarrifs on Canadian Soft-Wood to flood our markets too.

Thank you again Larissa:D:D:D You are an invaluable source of Latin America Info (I'm not trying to be cold~~)

[Larissa]

Quote: from CrazyPete on 7:59 pm on Feb. 3, 2003
The US is subsidizing all of their farmers using the tarrifs on Canadian Soft-Wood to flood our markets too.

Thank you again Larissa:D:D:D You are an invaluable source of Latin America Info (I'm not trying to be cold~~)Thanks!! :biggrin:

[Pete]

Its called 'dollarization'

[MEXCAN]

Canada and Mexico should stop supplying hydro-electrics to the states!!!It would be funny to see how the US would be in the DARK !!??Just look at L.A last year !!!!

[Pete]

Or just boycott American goods.