The Amero is part of the upcoming North American Union (NAU), it's a common currency for the United States, Canada and Mexico. The Amero is expected to be implemented a short time after the formation of the North American Union, which is expected to occur within a few years, if not months.
What is the Amero?
The Amero is a common currency that represents the U.S., Canada and Mexico. It's part of the upcoming North American Union in which the three nations will give up their national currency. The Amero is also referred to as the North American Dollar.
The implementation of the Amero would mean the three countries need to give up their national currency (U.S. dollar, Canadian dollar, and Mexican peso) and adopt a new one. The concept is based on the Euro and the European Union, and is considered to be an extension of the Security and Prosperity Partnership of North America (SPP) and the North American Free Trade Agreement (NAFTA).
Officially there are no plans to implement the Amero, however in secrecy a group of elites are already taking steps to implement such a currency, as part of a "North American Union".
Where did the Amero idea come from?
The idea for a common North American currency 'the Amero' was introduced by Herbert Grubel, a professor of economics at the Fraser Institute. In 1999, he released a paper entitled "The Case for the Amero".
Grubel argues that a common currency of the three countries would increase trade through reduced complication for transactions. The reduced complication would be, no worry about currency exchange rates between the three nations, and no currency risk for exporters doing business in the North American region. The Amero would reduce borrowing cost for borrowers in all three nations. The Amero would also stop North American wage arbitrage, which is when a company in one nation hires labor in another nation taking full advantage of the exchange rate to create cheap labor.
Article about the Amero in the Financial Post by Herbert Grubel
Is the Amero real?
The idea of the Amero is absolutely real. However, rumors of the Amero taking over the U.S. Dollar, the Loonie, and the Peso seem premature. A North American common currency is expected to be implemented after the formation of the North American Union, which is expected to occur within a few years.