Canada Debases Currency.

It’s quietly mentioned over at the Globe and Mail that Canada’s government is going to replace their nickel based coinage with steel. While nickel isn’t that valuable, it’s more valuable than steel. This is yet another government inflation tactic. They will also be eliminating the paper currency in favor of plastic to fight counterfeiting by parties other than the Canadian government. The good news is that plastic can be recycled fairly easily, so the plastic in the bills might end up being worth more than face value at some point.

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Published in: on March 6, 2010 at 7:19 pm  Leave a Comment  

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