But it's all a sad state of affairs really. I found out tonight that the Australian dollar and Canadian are almost the same too. $1CAD is 0.97AUD so that means Aussies are pretty much on par with the US dollar as well, after years of being apart.
Last edited by kezt777; 04-04-2012 at 11:42 PM.
There will be physical currencies on the black-market as usual, of course, they'll be "illegal" but people will use it if the cost-benefit dictates that using them will be better than using government-fiction!
Of course, it won't necessarily be good but just saying that it won't necessarily be the end of physical currencies! Yes, we do need to go more with physical currencies, especially those which can't be created in abundance at a fraction of their face-value but unfortunate thing is that some within the liberty movement are pushing for completely fictional currency, & trying to help out the government in going all fictional, you know the whole Shitcoin thing that's getting famous among some libertarians!
There is enormous inertia — a tyranny of the status quo — in private and especially governmental arrangements. Only a crisis — actual or perceived — produces real change. When that crisis occurs, the actions that are taken depend on the ideas that are lying around. That, I believe, is our basic function: to develop alternatives to existing policies, to keep them alive and available until the politically impossible becomes politically inevitable
- Milton Friedman
The last Canadian cent ever to be made came off the press on Friday. Experts predict the eradication will save the northern nation $11 million a year. Some say the same move should take place in the U.S., as well. Canada mints its last penny. Should the U.S., too? The United States mints more pennies than Canada and at a greater loss. Each United States penny costs about 2.41 cents to make. The United States coins can save a staggering $70 million annually by losing the copper Lincoln-headed disks.