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Old 12-15-2014, 11:10 AM
 
495 posts, read 474,219 times
Reputation: 369

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If Canadians want to have a stronger currency, perhaps the strongest currency in the world, they can have a unit of currency worth MORE than the British Pound Sterling

The solution is to re-assign the Toonie as the NEW 1 dollar coin and make the Loonie the 50-cent coin

At first this would mean cutting everyone's nominal salary in half and slashing prices in half, true

But ultimate goal is everyone who is now earning 80K Salary to reach earnings of 80,000 TOONIES per year but through real value added in the capital labor markets such that this not be at all due to inflation

Then gasoline to cost for example, more like .65 of a Toonie per litre like now .... And London and Europe travel would be a good deal for Canadians because the new dollar will be to them worth a "Toonie", not a "Loonie"!

Just imagine if what your networth were in dollars became your networth in Toonies? You would have a great strength of currency value.

 
Old 12-15-2014, 11:26 AM
 
34,394 posts, read 41,499,470 times
Reputation: 29868
I dont have a problem with the way it is now.
 
Old 12-15-2014, 01:31 PM
 
Location: Montreal, Quebec
15,087 posts, read 12,019,996 times
Reputation: 9717
Quote:
Originally Posted by Ericthebean View Post
If Canadians want to have a stronger currency, perhaps the strongest currency in the world, they can have a unit of currency worth MORE than the British Pound Sterling

The solution is to re-assign the Toonie as the NEW 1 dollar coin and make the Loonie the 50-cent coin

At first this would mean cutting everyone's nominal salary in half and slashing prices in half, true

But ultimate goal is everyone who is now earning 80K Salary to reach earnings of 80,000 TOONIES per year but through real value added in the capital labor markets such that this not be at all due to inflation

Then gasoline to cost for example, more like .65 of a Toonie per litre like now .... And London and Europe travel would be a good deal for Canadians because the new dollar will be to them worth a "Toonie", not a "Loonie"!

Just imagine if what your networth were in dollars became your networth in Toonies? You would have a great strength of currency value.
So, you want us to fool ourselves into believing that the toonie is now the loonie? It's ridiculous.
Why don't you go on P&M and suggest that $3 will now be $1? Why, the deficit will be cut by a third!
The debt will be far, far less!

Nonsense.
 
Old 12-15-2014, 01:45 PM
 
10,847 posts, read 11,270,768 times
Reputation: 7586
How does that change anything?

The relative value of one unit of a currency is meaningless. C$ 1 = JPY100, does that mean Japan is extremely poor?

You can arbitrarily set $C1 = US$ 50 and it doesn't change a thing. People will make C$1,200 instead of C$60,000, and everything will be 1/50 the nominal price based on the new CAD. NOTHING changes. You will not be any closer to achieving everyone making $C60000 in the new CAD.

Last edited by botticelli; 12-15-2014 at 02:06 PM..
 
Old 12-15-2014, 02:00 PM
 
495 posts, read 474,219 times
Reputation: 369
Quote:
Originally Posted by botticelli View Post
How does that change anything?

The relative value of one unit of a currency is meaningless. C$ 1 = JPY100, does that mean Japan is extremely poor?

You can arbitrarily set $C1 = US$ 50 and it doesn't change a thing. People will make C$12,000 instead of C$60,000, and everything will be 1/5 the nominal price based on the new CAD. NOTHING changes. You will not be any closer to achieving everyone making $C60000 in the new CAD.
If Canadians are making C$12,000 and C$1 is arbitrarily set to $50? , then Canadians would be earning $600,000/year same as MDs with Harvard med school on resumé, in the US, with a ton of staffers with MBAs and 5 stand-alone Cancer practice centers
 
Old 12-15-2014, 02:05 PM
 
Location: Hougary, Texberta
8,595 posts, read 11,085,198 times
Reputation: 10308
Quote:
Originally Posted by Ericthebean View Post
If Canadians are making C$12,000 and C$1 is arbitrarily set to $50? , then Canadians would be earning $600,000/year same as MDs with Harvard med school on resumé, in the US, with a ton of staffers with MBAs and 5 stand-alone Cancer practice centers
No. No they wont. They'll be earning $600K of "something" but it won't be a dollar. New dollars, or dodecahedrousands or some other name, but it's not a dollar with equivalent purchasing power. Your idea is just window dressing. Just like Mexico or any other place consolidating the currency. Drop the zero, now it's worth 10 times as much. Except it's not. It's just optics.
 
Old 12-15-2014, 02:06 PM
 
34,394 posts, read 41,499,470 times
Reputation: 29868
Quote:
Originally Posted by Ericthebean View Post
If Canadians are making C$12,000 and C$1 is arbitrarily set to $50? , then Canadians would be earning $600,000/year same as MDs with Harvard med school on resumé, in the US, with a ton of staffers with MBAs and 5 stand-alone Cancer practice centers
If we are going to make everything arbitrary Why not just make the value of every Canadian dollar worth a million bucks.?
 
Old 12-15-2014, 02:06 PM
 
10,847 posts, read 11,270,768 times
Reputation: 7586
Quote:
Originally Posted by Ericthebean View Post
If Canadians are making C$12,000 and C$1 is arbitrarily set to $50? , then Canadians would be earning $600,000/year same as MDs with Harvard med school on resumé, in the US, with a ton of staffers with MBAs and 5 stand-alone Cancer practice centers
you know it was a typo.
corrected.
 
Old 12-17-2014, 09:58 AM
 
9,873 posts, read 10,128,649 times
Reputation: 5292
Quote:
Originally Posted by Ericthebean View Post
If Canadians want to have a stronger currency, perhaps the strongest currency in the world, they can have a unit of currency worth MORE than the British Pound Sterling
You've inspired me

SCHEME 1
Since the Canadian penny is not being minted, why don't all the Canadians mail me one penny. It is worthless to you, but when I get all 35 million pennies, I can probably exchange them in at a bank. In turn we can do this with another person, until everyone in Canada gets 35 million pennies. Then everyone will be rich.

SCHEME 2 (the American scheme)
Canada is circulating $35,039,300,000 in $100 banknotes for 35,160,000 people (roughly 10 notes for every man woman and child in the country). As it doesn't cost much to make a banknote, why not double the number of $100 banknotes, then everyone will be on average $1000 richer.
 
Old 12-17-2014, 06:17 PM
 
418 posts, read 633,242 times
Reputation: 515
Why don't we make bunnies the new official currency?

A savvy investor could start with just two "units" and, within a short period of time, become a multi-million hare.
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