by Aria Quill

Created on: August 24, 2008

Single Global Currency

Single global currency would work and if we are to continue to be involved in free trade and global trade then this type of currency would be advisable.

I am not suggesting that we as Canadians change the system of currency that we use here in our country but with a slight alteration to the system by way of changing the value of the 25 cent piece to 30 cents and thus having to have 3 of this coin I will call the "mulroney" and one dime or 10 cent piece we in fact come up with a $1.00 amount or value and all in tens much like the metic system of the Euro.

We have not changed the usage of our money as the quarter now valued as the "mulroney" is worth more than the original quarter or 25 cent piece that would become obsolete. So to make up one dollar canadian and hopefully in time it would be worth the same amount as a Euro one could quite conceiveable have 3 mulroney's and one dime (or 1 loonie as we have now) to make the equivalent of a euro if we are to par the Euro. We would atleast by changing the value of the quarter to a 30 cent piece be edging our way to the decimal system of money accounting. Which would be a benefit even if our dollar was not at par or above par with a Euro. This would be easier to understand the difference in value.

That being said and that being the progressive side of the change to metric money there is a dark side to the money change over. For an investor to invest in another currency would be less interested as the money exchange is sometimes the best income one can get. In the past one could buy something low and wait for the dollar exchange to be increased more than the Canadian dollar and then pull out or cash in the investment and make money on the exchange which possibly conpensates for any losses one might have on the principal investment itself. So from a specualting investment advantage it might not be such a grand idea.

In the global market place "if the investors aren't happy there ain't nobody willing to invest abroad". There has to be some perk or advantage beyond the regular percent and safety, or less risk.

So will Canada and the United States go Euro on a monetary system that will level the playing field for the equivalency. Only the investors will be able to decide that. Certainly, it won't create many disturbances for the individual who shops at the local stores but for those who value the global activity of day to day investments it possible could make the investment strategy a little boring and less exciting. And that is what an investor thrives on the excitment and fear and anticipation are all part of the investors happiness along with the gains and the taxation.

So will it go, who knows but it would be nice to have the loonie, the toonie and mulroney as our money. I am sure Brian Mulroney one of Canada's past Prime Minister would agree!

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