Deep integration revisited

Hey, remember the Task Force on the Future of North America, brought to you by the US Council on Foreign Relations and the Canadian Council of Chief Executives back in 2005? Sure ya do. Co-chaired by blue dog liberal John Manley who also co-authored the resulting book:

"The Task Force's central recommendation is establishment by 2010 of a North American economic and security community, the boundaries of which would be defined by a common external tariff and an outer security perimeter."

OK, so they are a wee bit behind their 2010 deep integration schedule here.  And way way behind the Fraser Institute who in 1999 published a paper in favor of a continental monetary integration date - also for 2010.

The Case for the Amero: The Institutions of a North American Monetary Union

"On the day the North American Monetary Union is created--perhaps on January 1, 2010--Canada, the United States, and Mexico will replace their national currencies with the amero. ...  At the same time, the national central banks of the three countries will be replaced by the North American Central Bank. The board of governors of the North American Central Bank will consist of members from the United States, Canada, and Mexico chosen by their respective governments in numbers that reflect their economic importance and population." 

The Fraser Institute article credits Reform Party MPs Jason Kenney, Rob Anders, and Rahim Jaffer for "spearheading a debate in parliament over the issue of monetary union for North America" in 1999.

CFR, minus the help of John Manley and the CCCE this time, is apparently still in 'community-building' mode with the release of a new paper, North America : Time for a New Focus:

"The Council on Foreign Relations has convened an Independent Task Force on North America, co-chaired by David H. Petraeus, former director of the Central Intelligence Agency (and head of leveage-buyout corp KKR Global), and Robert B. Zoellick, former president of the World Bank (and Chair at Goldman Sachs).

The Task Force will provide a comprehensive analysis of North American integration in areas including trade, security, migration, energy, and infrastructure, and will generate policy recommendations designed to enhance U.S. and regional competitiveness and well-being."

“Now is the moment for the United States to break free from old foreign policy biases to recognize that a stronger, more dynamic, resilient continental base will increase U.S. power globally.”

Not really new or news though, is it? :
US bid to "shore up" Harper from the day he was elected in 2006

In his 2011 re-election campaign, Harper put out a CPC ad giving it a jobs jobs jobs edge : 

"so we commit to expanding our management of the border to the concept of a North American perimeter" :

The same month as Harper's 2011 speech, WikiLeaks released one of US Ambassador Paul Cellucci's 2005 cables from the US Embassy in Ottawa.  In it he suggests that "Canadian policy makers" support a "security perimeter" via an "incremental and pragmatic package of tasks" emphasizing "security and prosperity" (SPP!) to pave the way for a future North American "single market and/or single currency."  

He also notes that due to its benefits for "law-enforcement and data-gathering", "our governments may always want to keep some kind of land border in place". Excerpted :

"An incremental and pragmatic package of tasks for a new North American Initiative (NAI) will likely gain the most support among Canadian policymakers. Our research leads us to conclude that such a package should tackle both "security" and "prosperity" goals. This fits the recommendations of Canadian economists who have assessed the options for continental integration. While in principle many of them support more ambitious integration goals, like a customs union/single market and/or single currency, most believe the incremental approach is most appropriate at this time...

Canadian economists in business, academia and government have given extensive thought to the possible options for further North American integration.

Paradoxically, the security and law enforcement aspects of the envisioned initiative could hold as much - or more - potential for broad economic benefits than the economic dimension.

ORDER VS. PERIMETER: Even with zero tariffs, our land borders have strong commercial effects. Some of these effects are positive (such as law enforcement and data gathering), so our governments may always want to keep some kind of land border in place."

Nine years later, the only real difference is that this is starting to sound normal to us.

Update : From Thwap in comments : Diane Francis, Editor-at-Large at the National Post, has a new book : 
MERGER OF THE CENTURY   WHY CANADA AND AMERICA SHOULD BECOME ONE COUNTRY

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Goldman Sachs to plot sale of Ontario public assets

Ish Theilheimer at Straight Goods wonders why there has been no public outcry about McGuinty's decision to hire Goldman Sachs to come up with a privatization blueprint for 49% of Hydro One, Ontario Power Generation, the Ontario Lottery and Gaming Corporation, and the Liquor Control Board of Ontario.

The LCBO, OLG, Hydro One and OPG provide more than $10 million a day, totalling $4.1 billion in profit last year to fund social services for Ontario - making Bay Street's usual privatization argument pretty weak here - but, um, Goldman Sachs?

Ish : "In the USA, for instance, the company has supervised highway privatization deals in which it acted as a financial advisor to the state at the same time as it invested in companies vying for the highways."

In Goldman Sachs : The Great American Bubble Machine, Matt Taibbi describes the corp as

"a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money..."

"the heads of the Canadian national banks are Goldman alums, as is the head of the World Bank, the head of the New York Stock Exchange, the last two heads of the Federal Reserve Bank of New York - which, incidentally, is now in charge of overseeing Goldman ..."

Following its part in managing the recent financial collapse of Greece, the Vampire Squid is being investigated for fraud by the US Securities and Exchange Commission for misleading its own clients and encouraging them to invest in a product that was destined to fail.

Canada doesn't have a national securities regulator. In announcing plans to put one in place on May 3rd, Fin Min Jim Flaherty said that Canada is not directly probing Goldman Sachs because any probe of Goldman would fall under provincial jurisdiction.

Oh, go, McGuinty!

Fun facts : Vampire Squid corporate tax rate in 2008? One percent.
Fin. Times : "Goldman Sachs Group Inc and 22 European banks were the major beneficiaries of US$93-billion in payments from AIG -- more than half of the U.S. taxpayer money spent to rescue the massive insurer."
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