Canadian paper money to become plastic

Discussion in 'Wall St. News' started by kaciara, Mar 8, 2010.

  1. kaciara


    OTTAWA, March 5 (UPI) -- Canada's paper and cotton $10 and $20 bills will be replaced late next year with longer-lasting plasticized versions, the government announced in Ottawa.

    As part of the federal budget released by Finance Minister Jim Flaherty in parliament Thursday, the move to more durable currency was revealed as a means to extend the life of bills by as much as three times, the Globe and Mail reported Friday.

    Australia was the first country to go the plastic money route, and Bank of Canada spokeswoman Julie Girard said there are several factors that make it a good investment.

  2. Much easier to slide down the strippers for the Canucks. Plus you can wash the bills and get the stank out faster.
  3. Plastic is a transitional currency before digital smartcards.

    Governments want to eliminate cash to impose total control.

    It's not about tax revenues. It's about turning off your "card" - the ability to buy and sell - with the flick of a switch.

    Cash is King. The bearer of cash has total control. Governments hate that.
  4. then they'll make owning precious metals illegal- more forcing the issue to cash
  5. That's right. The whole point is to put everyones wallet in the Governments pocket.

    Government will essentially hold our money for us, and tell us where, who and on what we can spend OUR money. And when they decide we owe them money? They'll just take it. Electronically debit our smart card.
  6. no big deal.plastic notes were introduced in Singapore abt 10 years ago.
  7. Everyone knows you slip USD 1 dollars bills to Canadian strippers because they cant tell the value right away. so it might be 20 50 100 or 1.
  8. Polymer notes are a much more cost effective way.