Wednesday, April 21, 2010

Open your wallets for plastic cash

Loonies, dollars, and gold are nothing more than mediums of exchange. It is the productive and intellectual capacity of a nation that is money. This is what people will barter for. Although cheaper and better works, it does little to address the confidence needed to create stable demand. If confidence in those maintaining the currency declines, the currency will always falter regards of the composition, cost, or security. This is why gold has functioned as a medium exchange, i.e. money, across nations and cultures for so long.

Starting in late 2011, Ottawa will replace Canada’s paper-cotton bank notes – prone to wear and tear – with synthetic ones that last two to three times longer.

Source: theglobeandmail.com

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