With the Canadian dollar; due to International Capitalist and Also Local Canadian Government Policy Already Approaching Record LOW Value; Raising the MINIMUM WAGE JUST CREATES, EVEN MORE, INFLATION, IS COUNTERPRODUCTIVE, IS WHY.
The early 1600s: Beaver pelts are the one universally accepted medium of exchange, though wheat and ELK (not wapiti) skins are also legal tenders.
The mid-1600s: Wampum, or strings and belts made from shell beads, becomes legal tender in colonial New England. Eight white beads or four purple beads buy one penny.
June 8, 1685: The first issue of “card money” (printed on playing cards) occurs. The practice is criticised because it's easy to counterfeit.
1722: Copper coins introduced though merchants didn't like them; they continued to let people buy goods based on their own CREDIT standing-- Lead To High Inflation.
Eighteenth century: The lack of a standard Canadian currency and the differences in ratings given to the many coins in circulation in the colonies, "undoubtedly hindered trade and was a major source of economic inefficiency"—and contributed greatly to inflation and unaffordability for the AVERAGE working Canadian.
1817: The Montreal Bank (subsequently the Bank of Montreal) issued the first banknotes in Canada after its establishment in 1817. Other banks soon followed suit. The notes were well received and became the main means of payment in BRITISH North America.
1854 - 1914: The Dominion of Canada, Under The Gold Standard. The value of the Canadian dollar fixed in terms of gold and valued at par with the United States of North America’s currency; both United States of North America and British gold coins legal tender in Canada.
July 11, 1864: The “greenback” (United States of North America’s Dollar) sinks to less than 36 cents (Canadian), An All-Time Peak For The Canadian Dollar, from close to parity in early 1862. The United States of The America’s subsequently (artificially) recovers through the decade and the currencies trade around par Until the Outbreak of the First World War.
Mid-1950: Canadian dollar depreciates. The Federal Government Cancels Fixed Parity, Putting the Canadian Dollar At Odds With The International Monetary Fund, But The Canadian Currency Appreciates—TUSK-TUSK.
May 2, 1962: The Government???establishes a new par for the Canadian dollar, fixing it at 92.50 cents (United States of North America’s dollar.) with a fluctuation band of 1 percent.
May 31, 1970: The government “FLOATS” the Canadian dollar amid a growing budget surplus and Rising Inflation.
April 25, 1974: The dollar hits a high of $1.04 against the United States of North America’s “greenback” as Global Demand Boosts The Price Of Raw Materials. The strength sparked fear??? about Canada's export industries at a time when the unemployment Rate Was Already High.
Nov. 15, 1976: The Parti Québécois Is Elected, causing markets to "make a major reassessment of the Canadian dollar's prospects." At the same time, commodity prices start to soften, inflation picks up. By 1979, the currency slides to 84 cents (U.S.).
August 1981: The Bank of Canada's key rate hits 21.2 percent. By 1982, the dollar traded below 77 cents (United States of North America’s dollars)
Feb. 4, 1986: The Canadian dollar hits a record low of 69.13 cents (The United States of the America’s dollars) as “falling commodity prices hurt the economy”.
1988-1989: The currency rebounds somewhat to close the decade at 86 cents (United States of North America’s dollar).
the 1990s: The currency weakens again, closing the decade at 69.29 cents (United States of North America’s.). Inflation and Interest Rates Fall And Commodity Prices Soften.
1998: The international crisis in Emerging Markets Such As RUSSIA and Latin America “Causes” ???-so much for the VALUE of FREE TRADE--the dollar to slide as low as 63.11 cents (United States of North Americas).
2002: The currency hits a record low of 61.98 cents (U.S.) on Jan. 18, 2002.
No comments:
Post a Comment