Sinister Canadian Loony Plot

(Conspiracy Nation, 09/27/07) – Canada's dollar is called the “Loony.” Once upon a time, the U.S. Dollar was worth 1.65 Loonies. Now, however, the Dollar is at par with the Loony: One Dollar equals one Loony.

Walt Disney World is pleased. “Parity... a Dream come true,” they say. (“Now par for the course, Americans want loonies,” by Michael Babad. Toronto Star, September 25, 2007)

In New York City, they await a flood of Loonies with “open arms.” (“NYC Goes Loony For Canadian $$,” by Austin Fenner & Lukas I. Alpert. NY Post, September 22, 2007)

At this point, the Dollar and the Loony are interchangeable. All that's needed is for the Mexican Peso to mysteriously arrive at par with the Dollar. Then Dollars, Pesos, and Loonies would be basically the same.

We would carry all three of the currencies in our pockets. When we paid for something, we would use a mixture of the three.

Someone would have a “great idea.” Since the Peso, Dollar, and Loony are all the same, why not convert to a single currency? Hmm... What could we call this new unified currency? Someone might suggest, “Call it the Amero.”

Actually, a Canadian named Herbert G. Grubel already had this idea of the “Amero,” back in 1999 (the same year the Euro was born). According to Wikipedia, “some have posited that the formation of a 'North American Union' is being approached without the knowledge and consent of the majority of the people who would be affected by this.” (http://en.wikipedia.org/wiki/Amero)

“One concern raised by the public is that the value of both United States and Canadian currency would fall in order to absorb the historically troubled peso.” (Wikipedia, op. cit.). Hmm... There's a thought. The Dollar is being purposefully devalued so as to absorb the Peso.

Who would own the Amero? The “Federal” Reserve owns the Dollar. If the Dollar is obliterated and the Amero takes its place, does that mean the “Fed” disappears? The “Fed” was conceived exactly 100 years ago, a consequence of the Panic Of 1907. (“Contagion Of 1907,” http://www.shout.net/~bigred/Contagion1907.html)

There are various mergers in business. A merger between the Bank of Canada, the “Federal” Reserve, and the Bank of Mexico would engender an even more central bank, this time covering most of North America. The “Federal” Reserve, aged 100 years, would be dead.

These next few months, it will be interesting to see (1) whether the Canadian Loony remains at par with the Dollar; and (2) whether the Mexican Peso next achieves par with the Loony/Dollar.

In other financial news:

The Senate is grilling bond-rating firms such as Moodys, S&P, and Fitch. The ratings agencies had given now-questionable mortgage-backed bonds “credit ratings equivalent to US government bonds – suggesting they were practically guaranteed never to default.” An about-face by the bond-rating firms reached a crescendo in July, leading to a financial panic in August. “At the heart of the controversy is the fact that it is the Wall Street banks that pay the agencies to rate the new products.” (“Credit agencies deny inflating ratings to beat rivals, Senate told,” by Stephen Foley. Independent (U.K.), September 27, 2007)

A temporary funding stopgap passed by the House defers a budget showdown until mid-November. Not evident in a NY Times report is how this affects the debt-ceiling, said to be reached October 1^st. (“House Passes a Stopgap Bill to Pay for Programs,” by Robert Pear. NY Times, September 27, 2007)

An editorial today in the Washington Times claims, “Within the next few days, the Senate will have to pass legislation raising the federal government's debt ceiling, which stands at $8.965 trillion and will likely be reached by Monday (Oct. 1). Without an increase, the nation will be unable to redeem debt obligations as they become due or to borrow to keep the government fully operating.” (“What hath the spenders wrought?”)

In China, a new bestseller, “Currency Wars”, reportedly blames the rise of Adolph Hitler, the deflation of the Japanese bubble economy, the 1997-1998 Asian financial crisis, and other events, on the control of money issuance. (In other words echoing the old Rothschild saying, “Give me control of the currency and I care not who makes the laws.”) In China, “the book has become a surprise hit and is being read at senior levels of government and business.” (“Chinese buy into conspiracy theory,” by Richard McGregor. Financial Times, September 25, 2007 http://www.ft.com/cms/s/0/70f2a23c-6b83-11dc-863b-0000779fd2ac.html)

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