Why Do We Need Large Denomination Currency In Canada?

Drink more Koolaid?



I am not even sure where to start with a comment like that other than you probably need to get out more and make some friends who don't have cush lives.

I know a lot of refugees from various spot all over the world. My church helps them to get on their feet, get jobs, a place to live, etc. They pretty much only deal in cash and they have their reasons for it. They are good reasons too if you hear their stories. Have several Russian friends who lived through the massive inflation, Karen people who are victoms of ethnic cleansing, people from different African countries with civil war, ethnic cleansing, hyper-inflation, currency devaluation in South American countries and civil wars. People from the Middle East, Asia.

(Yeah, believe it or not Idaho is a mecca for refugees, we have tons of them).

When you talk to them they pretty much all say the same thing, we never thought this would happen in our country, it was stable, modern, had infrastructure, blah blah blah. The same things we say about our 'modern' countries.

I have never had a credit card. Pay all of my utility bills in cash at the Post Office, which is next door to the bank.

I do a weekly budget, and take out cash against that. If I run out of money at the end of the week, no one gets paid. That sort of budgeting has saved me $thousands over the years.

For very large payments in the $thousands, I use a bank cheque.

I need a credit rating like a need a hole in the head. The less the credit rating agencies and marketing organisations know about me the better.

More and more of our rights and liberties are being taken away.

Look at the Patriot Act in the US.

Using Cash does not imply an illegal activity. It means freedom.

Think about what it would mean if every transaction you made coming and going was recorded.

$50 and $100 bills are not large denominations...how far can that go in this day and age? The American $1000 bill was a large denomination bill at the time they were used.

A gold soveriegn (£1 coin) was a large denomination when that was equivelent to a years wage.

In England the biggest we have is £50 notes...every 15 or 20 years they change the design and withdraw the old ones, maybe to stop people sitting on lots of untaxed money as well as to incorperate anti-forgery advances.

I still use cash wherever it is possible to do so and given that the cost of living has become so high I personally think we could do with some bigger denominations.

How long ago was £1 equivalent to a year's wage?
Even Scrooge paid Bob Cratchit more than that!

I try to use cash as much as possible. I hate using debit/credit. Takes more time in the lineup, credit gets you in trouble..just use it to buy online/airline tickets. Plus this way I get to rummage through my change and look for some cool finds! Also, I like the high denomination bills as they are useful to me anyway. Id like to see a $200 note like the 200 euro. 500 is too big but good for paying rent I guess :p

I looked it up and Scrooge paid Mr. Cratchit 15 shillings per week, which would work out to £39 per year.
A sovereign contain .2354 troy/oz net of gold, so Bob got 9.1806 ounces of gold per year.
Based on $1600/oz, Bob earned the equivalent of $14,688 per year.
Certainly a penurious wage, worthy of a miser like Ebenezer Scrooge!