posted on Aug, 28 2012 @ 01:05 AM
Originally posted by Blackmarketeer
The common sense approach would be to fix inflation - and keep the penny.
I wish more people could perform such basic reasoning. Good comment.
To everyone else unaware... The common misconception is that copper is becoming more valuable. Increase in value and increase in price are two totally
different things. The "increase in price" of copper is caused by a "decrease in value" of the Canadian currency. Inflation = decrease in currency
As for the future... Eventually through inflation the paper/materials used in a 20$ bill will be of higher value than 20$ currency. To be very clear
the government will eventually spend more than 20$ cash to print each new 20$ bill if things do not change. It is the exact same argument as the
penny. If you think this is an exageration then maybe you will take the governments word for it, because they openly acknowledge this trend. There is
a spin off campaign to killing the penny called "MintChip". The government of Canada will be instituting a digital currency to replace cash.
There have been several posts on MintChip including my own thread, it got very few responses/flags. Apparently people including ATS users have become
apathetic in regards to monetary policy. I am not going to bother linking proof. A quick google search for "MintChip" will provide official government
websites and mainstream news articles. It is not conspiracy and there is no debate in regards to its existence. The Royal Canadian Mint just hired
300-400 software programmers in April 2012 to advance the project. Again do the research yourself, I encourage you to find one semi-credible source
As Blackmarketeer plainly stated, the simple solution is to fix inflation. But why do that when you can destroy the currency, get rid of pennies and
develop a multi million dollar digital cash system paid for with tax payer money. Or paid for by printing new money further inflating the currency...
As far as I know there is no official release date for MintChip, but if you want my own personal prediction as a software developer who works with
Banks and Insurance Companies I give it 5 years max. Assuming the world economy hasn't totally collapsed by then.
S+F on the OP, thanks for bringing the discussion back.
edit on 28-8-2012 by centrifugal because: (no reason given)