UN wants new global currency to replace dollar

[SirJosephPorter]

Not ture. The only difference is that a quick shift would apply a sudden and extreme pressure on the currencies, whereas a slow shift would apply a gradual and moderate pressure over a longer period of time. Whether prices change suddenly over a short period or slowly over a long period, it comes out to the same effect in the long run.

Quite so, Machjo. If the changes are gradual, the economy can adjust to it, the prices don’t have to increase. If the change is sudden, the economy cannot adjust to it and you get inflation. That is why when our dollar plunged to 60 cents, there was no inflation.

Indeed, that is why I could not understand all the wailing, gnashing of teeth when Canadian dollar had slid to 60 cents. If there is no inflation (and there wasn’t), what is the downside to having a weak currency? I don’t see any. And there are plenty of advantages.

 

[AnnaG]

:roll:
Obviously, there is no downside if the dollar is spent here. If the dollar is weak in comparison to the US dollar, the Euro, or whatever, it takes more $CA to buy stuff from the USA or Europe. A weak dollar isn't good for imports, simple as that.

 

[Lou Garu]

:roll:
Obviously, there is no downside if the dollar is spent here. If the dollar is weak in comparison to the US dollar, the Euro, or whatever, it takes more $CA to buy stuff from the USA or Europe. A weak dollar isn't good for imports, simple as that.

And we don't import so we do with-out or build our own....not a bad thing , we need to less
reliance on the American cash flow to avoid future bumps