…pocket change that is, is changing.
One dollar coins (Loonies) were popular as a forgotten novelty; two-dollar coins (Toonies) were not. I remember working in the service industry back in those days. Everyone complained about the amount of change they would have to carry around in those money belts. The money belts grew more robust. Waiters today are in for a surprise.
The nickel and the quarter will be eliminated in favour of a twenty cent piece, called a “Twenny.” (I don’t know that for sure, in fact, I just coined the phrase. Nevertheless, I think it sounds catchy. In France they are called “des pièces de vingt centimes” but then everything takes more words to say in French… maybe that’s what makes it romantic.)
This move, on it’s own, will likely lighten waiters’ loads (and necessitate another re-design of the money belt,) but there’s more.
The five dollar bill will be replaced by a coin. $5 bills represent just under 2% of the Canadian money supply. [It won’t be long now for the tens.] A two-hundred dollar bill will also be introduced. And all this for 2017. What ever happened to banning the ‘C’-note? In the cancellation of a bill, is a demand for it not being created? As they cancel more and more bills, and create new ones, won’t they be feeding the monster they wish to slay? Getting people to hoard cash is not good for banks. The Bank of Canada eliminated the thousand-dollar bill in 2000 for this purpose, and put the blame squarely on drug-runners and money-launderers. Movement of physical cash is closely watched at the borders and at all points of entry. Are they developing cover for a digital monetary system? Are they really going to ban cash? These recent actions lead us to believe that they will not, but sometimes an event must be manufactured with nothing but ‘good intent’ behind it acting as a catalyst to ensure it’s quick demise. Kissinger might find it easier to pop the balloon rather than let it deflate on its own. That would require intervention. Intervention always incurs cost.
Either this brings us closer towards the European system, or the people at the Mint are preparing for inflation. You don’t think of the economy in the same way if it costs a million of something to buy a loaf of bread. Being a millionaire is easy in some places. Debasing currency (by lowering the cost of production,) even fiat, always leads to inflation. The central banks have been struggling to find a way to increase inflation to keep this sham system afloat, and it looks like this turned out to be their best-worst option. Will this replace the need for ‘helicopter money‘ or is it just an addition? Perhaps it’s all been scripted in order to introduce a global [?digital?] currency. Either way, UNPA member Justin Trudeau is paving the way for his ascension through the UN. [Read the “Welcome” message in the UNPA link.]
Portugal had to wreck its economy for the former Prime Minister (1995-2002) António Manuel de Oliveira Guterres (a notable socialist, ECFR, and Club of Madrid member – not to mention his long list of distinctions) to be elected Secretary General of the UN. That’s quite a cover charge for entry to the big boys’ club. I wonder if it was on a dare or a bet, or if it was just an initiation, of sorts. With that against him, his loyalty would be assured. Amongst other positions, he had previously served as the UN’s High Commissioner for Refugees.
Is Canada next? The Asian money doesn’t seem to think so, but the Canadian government’s recent action in the Vancouver housing market was a clear signal for Asian markets to ‘keep away.’ The manipulation practiced by Wells-Fargo, Shkreli, Volkswagen, and the gold market pale by comparison. Where’s RICO when you need him?
It looks like the Lone Ranger is gonna’ need some more silver bullets, and gold ones; or maybe Dorothy could just click her heels… rubies and sapphires might have some value, but emeralds are not a good investment.