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The Freedom of Continent Act was a landmark American continental policy which was passed and signed into law by the American Union and AU President Barack Obama. The act was passed, part by part, during the second session of the Parliament in 2007, in Vancouver.
American Union Bank
The first part of the act was to create a centralized bank called the American Union Bank which was agreed to by the parliament 399-349, and was signed by President Obama two days later. The Bank is suppose to act cooperatively with respective nation's financial ministries, regulate commerce, monitor financial situations, oversee trade and foreign loans, and with the creation of the AUB Foreign Fund oversee and monitor it's practices. The AUB was a large part of Contiscpeticism, due to it taking some powers away from it's member states and the incident with the AUBFF.
The American Dollar was also a currency regulated and printed by the AUB, adopted in the act. Consdiered by Contiscpetics to be an early failure of the act, the American Dollar was adopted by, Quebec, Huron, Acadia, Polar Republic and Pacifica, a total of five nations. The AD has proved to be a success of the act, while during the global recession the values of the AD went up, and was stabilized. The currency was adopted in the first two years, by the respective nations, when their respective legislatures and parliaments but since 2011 the requirement of joining the AD is to have approval of the nation's Parliament and Executive Branch, Approval by the AUB board of directors and President, and 51% of the AU in a recorded vote after debate.
Current nation's deciding the AD are New England and Libertas.
The "Obama Provision"
The Obama Provision was the final part of the Act, which received more general approval, than the other two. The Act was passed 530-209, with most dissenting on the conservative side. The act resembled the Schengen Agreement in allowing for easier immigration, movement of goods, and tourists. President Obama called this a "shining achievement of what the new nations' could accomplish". The act was signed by all nations except, Texas and Dixie.