It's only a matter of time before it happens here too.
The irony is that the Canadian dollar has strengthened enormously. Yet, even as that has supposedly happened, the penny has become worthless.
The proof is in the pudding. The Canadian currency has eroded DESPITE its supposed 'strength' versus other paper currencies.
*ALL* currencies are eroding.
Canada Stops Making Cents as Flaherty Lets Penny Drop
By Greg Quinn - May 4, 2012 2:20 PM ET
Canada minted its final penny today as Finance Minister Jim Flaherty said the coin was too expensive to produce and no longer needed for business.
“The real issue was that people weren’t using them, they were putting them in jars at home, and we were doing the same thing at my house,” Flaherty said. He spoke today at the Royal Canadian Mint in Winnipeg, Manitoba, before pushing a button that stamped the last one-cent coin.
More: http://www.bloomberg.com/news/2012-05-04/canada-stops-making-cents-as-flaherty-lets-penny-drop.html
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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