Icelandic economists urge their country to adopt Canada's currency

[Machjo]

With the Euro on its deathbed, hasn't anyone realized that common currencies are prescription for economic fiasco.

Iceland has made a brave stand against the IMF by refusing its demands for austerity. It needs to back that up by re-establishing a sovereign national currency.

And don't give that drooling dolt Harper any ideas.. Canada needs to do the same thing... resign the IMF, ditch monetarism and the floating currency, and dump Free Trade.. that's our only hope.

Absolutely. I'm sure tariffs on all goods entering the city of Ottawa should create plenty of jobs for Ottawan.

They could just use the Canadian dollar as El Salvador and Panama use the American dollar. Officially we have no control over what they accepts their national currency. They as Petros said just have to buy Canadian currency.

No you don't, but you do have control over "quantitative easing, which they don't. For example, let's say Panama lends he US plenty of money in US dollars, let's say 1,000,000 USD, the US could decide to shrink that debt by printing some money. It would still owe Panama 1,000,000,000 USD plus interest, but the real dollar value would depreciate owing to inflation, thus making it easier for the US to pay it back while Panama is stuck with play money.

 

[darkbeaver]

Why not just wait quietly till the global currency is imposed. I think seventy percent of the Canadian dollar is backed by American dollars. Ice landers advocating for this should be in prison with their former bankers.

How would we have control? Currency is bought and sold on the open market.

Interesting term, open market, we should discuss it in the faith threads sometime maybe.

 

[Nuggler]

With the Euro on its deathbed, hasn't anyone realized that common currencies are prescription for economic fiasco.

Iceland has made a brave stand against the IMF by refusing its demands for austerity. It needs to back that up by re-establishing a sovereign national currency.

And don't give that drooling dolt Harper any ideas.. Canada needs to do the same thing... resign the IMF, ditch monetarism and the floating currency, and dump Free Trade.. that's our only hope.

Christ, Coldstream; sometimes I think I'm the only one................well said.

 

[gore0bsessed]

I wonder what they think about hockey players on their currency

 

[Spade]

Or the supreme governor of the Church of England