Quote:
Originally Posted by vettman
This means that the US government is now in control of all the money in America. This makes it quite simple to introduce the Amero, the new money, when the time comes.
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I have read several economists writings and they are saying that because of the simultaneous trashing of the Canadian dollar and Mexican Peso, government might have to use the International Money Fund SDR as a default form of exchange. Here is an excerpt from Wikipedia defining the SDR:
"Special Drawing Rights (SDRs) is a potential claim on the freely usable currencies of International Monetary Fund members. SDRs have the ISO 4217 currency code XDR.
SDRs are defined in terms of a basket of major currencies used in international trade and finance. At present, the currencies in the basket are the euro, the pound sterling, the Japanese yen and the United States dollar. Before the introduction of the euro in 1999, the Deutsche mark and the French franc were included in the basket. The amounts of each currency making up one SDR are chosen in accordance with the relative importance of the currency in international trade and finance. The determination of the currencies in the SDR basket and their amounts is made by the IMF Executive Board every five years."