dpwozney

I was referring to pure nickel when I referred to “nickel which is at least 2½ times more valuable than copper”. Canadian nickels minted from 1955 through 1981 are composed of pure nickel. The January 5th intrinsic metal value of a Canadian nickel minted from 1955 through 1981 is US$0.1119603, according to Coinflation.com. The January 5th intrinsic metal value of a Canadian penny minted from 1942 through 1977 (composed of 98% copper, 0.5% tin, 1.5% zinc) is US$0.0308665, according to Coinflation.com. Why would a value of about 3 cents, instead of about 11 cents, be a better minimum unit of value for the lowest value coin in a money system? What financial transactions need to be resolved to a value of less than about 11 cents for the overall transaction cost?

Canadian pennies are made of mostly steel these days.

Why would you want coins to contain copper instead of nickel which is at least 2½ times more valuable than copper? Pure nickel as a monetary standard also has the advantage of not corroding like copper.

What did you vote “no” to? Was there some kind of a vote? If so, when? What were the overall voting results?

There never ever was any sale in the first place with BHP buying POT shares at the bidded price of $US130 because POT shares were, and still are, trading above US$140 and POT shareholders were already not going to accept the bidded price of $US130. Despite the mainstream media's efforts to make it seem like Clement blocked some sale, there was no sale yet to block. And BHP management or someone else can still make a higher bid. So, in effect, Clement did not really do much of anything at all.

“... The City of Calgary is a Municipal Corporation in the Province of Alberta ...”, according to this pdf document. “A corporation is a fiction, by definition, ...”, according to Patrick Healy in a statement found in evidence provided to the Canadian Parliament's Standing Committee on Justice and Human Rights in 2002. “A corporation is a ‘fiction’ as it has no separate existence, no physical body and no ‘mind’”, according to Joanne Klineberg in a presentation to the Canadian Aviation Safety Seminar in 2004. In the real world, how can a fiction elect any real natural person to a post of mayor? In the real world, how is it possible for any real natural person to be mayor of a fiction?

I read beyond the headline. Do you claim that the headline I quoted is wrong?

Anyone can make a distinction, properly, between any grouping of countries and the rest of the world.

Are you claiming that the headline I quoted is wrong?

The headline that I quoted said "Alberta oil not 'foreign,' U.S. official tells premiers".

http://calgary.ctv.ca/servlet/an/local/CTVNews/20100909/CGY_oilsands_Stelmach_100909/20100909/?hub=CalgaryHome Is the "Province of Alberta" now the 51st state?

Here in Canada, I would rather invest in pure-nickel RCM nickels minted before 1982 which I can obtain at face value with no shipping and handling costs.

If the stated value, of "Federal" Reserve notes, declines enough with respect to copper and nickel, the 1946-2010 U.S. Mint nickels, composed of cupronickel alloy, could become somewhat rare in mass circulation. The August 27th metal value of these nickels is "$0.0538977" or 107.79% of face value, according to the "United States Circulating Coinage Intrinsic Value Table" at Coinflation.com.

I am not sure what you exactly mean by “cancellation policy”, “cancellation vehicle” and “cancellation” in context with your above questions. http://en.wikipedia.org/wiki/Money_creation#Money_creation_through_the_fractional_reserve_system “When a commercial bank loan is extended, new commercial bank money is created. As a loan is paid back, the commercial bank money disappears from existence.” http://www.nationmaster.com/encyclopedia/Monetary “It is critical that we understand that when a bank makes a loan, that is new money and when a loan is paid off that money is destroyed.” http://www.hansard.act.gov.au/hansard/1990/pdfs/19900920.pdf “The Right Honourable Reginald McKenna, one-time Chancellor of the Exchequer and Chairman of the Midland Bank in the United Kingdom, addressing a meeting of the shareholders of the bank on 25 January 1924, stated: ‘I am afraid the ordinary citizen will not like to be told that the banks can, and do, create and destroy money. The amount of money in existence varies only with the action of the banks increasing or decreasing deposits and bank purchases. We know how this is effected. Every loan, overdraft or bank purchase creates a deposit, and every repayment of a loan, overdraft or bank sale destroys a deposit.’ That came from Post-War Banking by Reginald McKenna.”

The value associated with paper money is invoked whenever paper money is spent. When a bank lends out money in the “present debt-driven system”, the money supply increases.

There is debt associated with all paper money because without debt, paper money does not have value. Money without debt can exist in the form of coins valued by instrinsic metal content. When a bank lends out money in the “present debt-driven system”, more than just “numbers on a computer” is involved. Non-central banks do not simply create money out of thin air because some real asset is required as collateral. Money is created against the collateral, as a debt claim on some real asset. Non-central banks do not create M0 money (coins and central bank notes) but they do create M1, M2, and M3 money. The “present debt-driven system” does not require any particular “physical material used to represent cash money”. The different money system using different banking laws would require some specific “physical material" for at least some coins. Do you know of any money system presently in use that requires some specific “physical material” for at least some coins?

Coins valued by intrinsic metal value content, in a different money system, can be used in conjunction with paper money. While there would be no debt associated with the coins, there would be debt associated with the paper money. Banking laws most likely would be different in a different money system.

Under a different money system with coins valued by intrinsic metal value content, there is no debt associated with the coins, as there is with paper money and coins in “the present debt-driven system”.

“We have to keep in mind that our monetary economy only grows when the money supply grows. Under the present debt-driven system, the only way we can increase the money supply is by borrowing it into existence from the private banks, thereby increasing our indebtedness to them. It can't be stressed too much that the private banks, unlike non-bank lenders, create the money they lend. They do not--as is so widely imagined, even by the bankers themselves--lend their depositors' money. The amount of new money created by a bank loan, however, is only sufficient to pay back the principal. No money is created to pay the interest, except that which is paid to the holders of bank deposits. That's why debts must continually grow faster and faster in order for each layer of additional debt and interest to be paid. Indeed, the higher the rate of interest, the faster the money supply must grow if the economy is not to stall. If the system ever stops growing, or even drastically slows down, it crashes. If that strikes you as a very dumb and dangerous way to operate a monetary system, you're right.” The above quote is by Harold Chorney, Associate Professor of Political Economy and Public Policy, Concordia University, Montreal; John Hotson, Professor of Economics, University of Waterloo; and Mario Seccareccia, Associate Professor of Economics, University of Ottawa, in their May 1992 publication “The Deficit Made Me Do It!”.

If copper pennies were still being made today, they would not have to make as many pennies each year as they do now to replace the copper pennies now being taken out of circulation by people collecting copper pennies. Also, the copper penny distribution and manufacturing fractional cost is a smaller fraction of the overall value of copper penny, compared to the steel penny distribution and manufacturing fractional cost of the overall value of steel penny. Debasing the metal in coins is what allows inflation to occur.

Copper pennies made before 1997 are worth more than face value because of the copper content. If copper pennies were still being made today, the stated value of the dollar would be much higher, there would have been much less inflation in the past couple of decades, and the cost to make copper pennies now would be close to the cost to make them decades ago.

It seems kind of silly to have spent decades minting billions of pennies only to end up stopping to use them. If they had not debased the metal in coins, such as pennies, in the first place, they would not have had this problem of inflation and having to consider eliminating debased pennies.

Elizabeth the Second is not Queen of the “United Kingdom of Great Britain and Ireland”. Elizabeth the Second claims to be Queen of the United Kingdom of Great Britain and Northern Ireland.

Have you checked the footnotes available here?