Canada stops making sense??

[neanderpaul14]

Oh wait they stopped making cents.

http://www.winnipegfreepress.com/local/ ... 32465.html

It cost 1.6 cents to produce a penny?? Now that shit is funny.

Can't really blame them for this, in this day and age pennies are pretty fucking useless. I mean when I was a kid you actually buy some candies for a penny, now those same "penny-candies" are usually a quarter.

[keiths31]

As a business owner I am looking forward to this. Pennies are a pain in the ass. For cash transactions we will round the final price to the nearest $0.05. ($0.01-0.02 down to $0.00, $0.03-0.04 up to $0.05). All electronic transactions though will remain to the penny. Good move on the government's part.

[Night Strike]

The real focus on stories about whether small coin denominations should be used should be a discussion on how our currency has become so devalued that it even got to this point. Stop devaluing the currency and you won't have to decide whether to stop making a small denomination coin.

[vodean]

or we should de-value further... that is part of the reason why japan's products are so competitive.

[BigBallinStalin]

But there's a trade-off. The monetary authorities devalue the US currency. This tends to drive down the price of US exports, and since the value of the US dollar is relatively less than other currencies, then the imports within the US are more expensive. We'd expect to sell more exports, expand production for domestic goods and for exports, decrease unemployment, buy less imports, etc., but wait, there's other countries. And they do the same thing. So, then what?

We just continue devaluing our currencies.

So, prices tend to rise for many goods as purchasing power faces a downward force. In other words, it'll tend to take more money to buy the same goods.

That's a consequence of fiat currency, and with forcing people to accept paper money (i.e. can't introduce alternative monies like gold into the economy for everyday purchases. Yes, I know it can be traded, but it's usefulness is limited as a money).

[Army of GOD]

 

da f*ck

[notyou2]

Umm, I thought it was inflation that ultimately made the penny useless.

[BigBallinStalin]

Inflation refers to a rising of prices. One reason for this could be due to a depreciation of the value of the domestic currency.

But remember, inflation doesn't mean all prices of all goods are rising. Some are rising at different rates at different times, and some prices are falling. When we see inflation, we're talking about positive, percentage change of a price which is derived from weighted averages of homogenized categories of goods like housing, automobiles, food, etc. across groups of citizens, usually categorized by urban density.

There's consumer price index (CPI) and producer price index (PPI).


More on CPI --- Something you should know about government statistics.

show

[notyou2]

Yeah, I understand all that, they just changed the contents of the shopping basket in Canada that Statistics Canada uses to evaluate inflation and the CPI

[BigBallinStalin]

Hey, as long as you're aware of how the government downplays the problems, then you're an informed citizen. I hope your vote goes to... oh wait, nevermind, that'll just reinforce their racket.

[notyou2]

I have opted out of the tax system and voting as well....I'm living off the grid in the hills to avoid the man.



GET BACK TO NATURE YA'll!!!!

[neanderpaul14]

I have opted out of the tax system and voting as well....I'm living off the grid in the hills to avoid the man.



GET BACK TO NATURE YA'll!!!!

Does this include your own large ganja crop? If so I'll be visiting soon.