I was standing in line at my local American Express Travel office waiting to exchange my US dollars for that damn Euro. As if I’m not already mad enough because I know that as soon as I had over my little green friends, I’m losing money. Ugh, this sucks, I say to the American Express rep as she tells me the exchange rate. Then out of no where this random guy next to me says, “Think it sucks now, just wait until you’re exchanging the Amero! The Amero? What the heck is an Amero?”; I asked. He preceded to ramble about the U.S., Canada and Mexico all joining forces to become the North American Union, obviously modeling it after the European Union. I thought either he’s the smartest guy in the world, or a crazy lunatic. So, I did some research and found that currently the Amero is a conspiracy theory with some possible truths.
The opinions on the Amero are so widespread and the topic itself is very controversial. Some believe that if the three nations were to adopt the Amero, it would be able to eliminate the threat of other regional currencies (the Euro, and possible Asian and/or African currencies) and provide stability of the local currency. Also, it’s believed that our dollar would strengthen against the other currencies in the world. Some claim that the U.S., Canada and Mexico would then adopt a similar open border policy as they do in the EU. However, others believe that the Mexican peso will drag down the U.S. and Canadian dollars and the Amero would be in a worse position than the the current U.S. Dollar is in right now. And with the U.S. currently building a wall between the US and Mexico, it seems that the borders will not have that open border policy.