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"A major obstacle to the creation of a unified currency is the sheer dominance of the United States in any such union. Unlike any state in Europe, the USA has a larger economy than all the other American nations combined, and monetary policy would thus inevitably be heavily tilted in favour of the United States."
THis is exactly why I believe the dollar will devalue and crash.... The entire premise of the FTAA is to "level the playing field." Dominance of the US dollar makes it difficult to bring America on board. Weren't the most fervent efforts against the Euro launched by the British who had their own strong currency at the time? If America's dollar suffered then it might be easy to convince the US population to join a common currency with south and central america
Warren Buffet said 2-3 weeks ago that American's spending habits and credit consumption was leading us to a nation of sharecroppers. I fear he is wise in his remarks
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