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Currency in today's society is the final bastion protecting independence of state and culture.

The world's two largest trading partners, the United States and Canada, would form a powerful "currency block" although the US would have its own currency decisions blurred unless it just stampeded over Canadian desires and needs. In its own best interest the US would have no choice. Opinions asked of its Northern neighbor would be exiguous at best and inconsequential a majority of the time.

Given the imbalance in GDP size between the two countries Canada would lose any independence it currently enjoys. Such loss of control would arouse resentment on Canada's part in the long term. In such enmeshed economic environment, Canada wouldn't catch a cold if the US sneezed, it would writhe into paralysis. Its parliament in Ottawa would thrash and squirm, but its impotence would be stifling.

The inclusion of Mexico in such a currency block would seriously compound the difficulty of regulating such things as interest rates. Mexico does not function like the US and Canada, either in the nature of its social and political system or its corporate system. On the world stage Mexico remains a third world country where such primal elements as the scarcity of the rule of law and the extreme imbalance in the standard of living across its social classes, produce a foundation for its Nuevo Peso that might be mistaken for quicksand. Evidence of such economic distress presents itself in form of the monumental illegal immigrant dilemma currently facing the US.

Even in Europe where there is not such economic or social imbalance as there is on the North American continent, the Euro is creating significant resentment amongst member states. In North America, lets leave well enough alone.

Learn more about this author, J J Debar.
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