Canadian Dollar

[M.Dancer]

All current Bank of Canada notes and RCM coins are referred to as legal tender. Legal tender is not the same as dollars and cents.

And this somehow confuses you?

[dpwozney]

And this somehow confuses you?

I am not confused.

[M.Dancer]

I am not confused.

On the contrary....

All current Bank of Canada notes and RCM coins do not claim to be dollars or cents. They just instead have the word “DOLLAR”, “DOLLARS”, “CENT” or “CENTS” printed on them.

The note that has written on it "This note is legal Tender" also has written on it denomination. Inothe rwords truth in advertising, it claims to be a $5 or $20 dollar note and not a receipt for dry cleaning or a ticket to see Blue Rodeo.....i'm pretty sure no note has "CENTS" written on them.

[August1991]

The note that has written on it "This note is legal Tender" also has written on it denomination. Inothe rwords truth in advertising, it claims to be a $5 or $20 dollar note and not a receipt for dry cleaning or a ticket to see Blue Rodeo.....i'm pretty sure no note has "CENTS" written on them.

Speaking of advertising, I have always wondered why the Bank of Canada doesn't sell advertising space on the bills. McDonalds would surely pay to have a "J'm" on the $5 bill and Holt Renfrew would pay to put one of its (brown fur) coats on the $100.

We do this kind of paid advertising with postage stamps now and I suppose the Vancouver Olympics will get (free, subsidized) advertising on our money. Why not charge for it?

Money - whether bills or coins - pass through many hands but more often rich hands than poor. Money's the ideal vehicle for advertsing to the right demographic.

Credit cards have advertising. Why not money?

One disadvantage of gold as a standard is that it is too high-value for small-change circulation coin, unless low-percentage-gold alloys are used.

There are two disadvantages to the gold standard: first, it means that our money supply is determined randomly by how much gold people find. On historical experience, that's a terrible way to determine the money supply. Second, a gold standard means that many people will run around the world looking for a rock (gold). On the face of it, the idea is humourous/ridiculous but once again, based on historical experience, chasing after gold has caused terrible problems.

My 2 ozs.

[M.Dancer]

Money - whether bills or coins - pass through many hands but more often rich hands than poor. Money's the ideal vehicle for advertsing to the right demographic.

Good one.....money though doesn't have a long shelf life..a magazine like Natinal Geographic will be around longer than a $5 bill....although the pass along rate for the $5 would be huge...

[dpwozney]

The note that has written on it "This note is legal Tender" also has written on it denomination. Inothe rwords truth in advertising, it claims to be a $5 or $20 dollar note and not a receipt for dry cleaning or a ticket to see Blue Rodeo.....i'm pretty sure no note has "CENTS" written on them.

The Bank of Canada note, that has written on it “THIS NOTE IS LEGAL TENDER", has the word “CANADA" written on it. Do you also claim that the note is Canada?

The Bank of Canada note has the phrase “BANK OF CANADA” written on it. Do you claim that the note is the Bank of Canada?

The word “denomination” is not found on the Bank of Canada note. The term “dollar note” is not found on the Bank of Canada note. The symbol, “$”, is not found on the Bank of Canada note.

Can you prove that the Bank of Canada note is dollars?

[August1991]

Good one.....money though doesn't have a long shelf life..a magazine like Natinal Geographic will be around longer than a $5 bill....although the pass along rate for the $5 would be huge...

Even better. The advertising rates could depend on the bill used. (100s last longer than a fiver.) Then, there's the prestige vs ordinary guy factor. Who buys coffee at Tim Horton's with a hundred?

[dpwozney]

There are two disadvantages to the gold standard: first, it means that our money supply is determined randomly by how much gold people find. On historical experience, that's a terrible way to determine the money supply. Second, a gold standard means that many people will run around the world looking for a rock (gold). On the face of it, the idea is humourous/ridiculous but once again, based on historical experience, chasing after gold has caused terrible problems.

Whether nickel, gold, silver, or some other metal is used as a monetary standard, the value amount of the money supply could be both:

(1) higher than the value amount of the metal (the “standard metal”) used as the standard for the money supply; and,

(2) completely backed by real physical assets. (See my previous post in this thread where I already stated this.)

Many people are already exploring the world for gold right now.

By the way, I do not advocate a gold standard.

One disadvantage of gold as a standard is that it is too high-value for small-change circulation coin, unless low-percentage-gold alloys are used.

Some people prefer purity, and pure gold is too soft for coins that circulate. Pure nickel is hard enough for circulating coins.

[M.Dancer]

The Bank of Canada note, that has written on it “THIS NOTE IS LEGAL TENDER", has the word “CANADA" written on it. Do you also claim that the note is Canada?

The Bank of Canada note has the phrase “BANK OF CANADA” written on it. Do you claim that the note is the Bank of Canada?

My computer has evo n800c on it...but that doesn't mean that the internet is evo n800c.

Still not sure what it is that is confusing you, but I will say if the $5s $10s, $20s etc etc...are botheirng you I will gladly take them off your hands....and if you feel that the amount shown...the $20 or $50 doesn't really mean $20 or $50..I will happily give you FOUR shiney silver dimes for each note you tender. If you can get a better offer ..go for it.

[dpwozney]

Still not sure what it is that is confusing you, ...

As I previously stated, I am not confused. Additionally, I am not bothered.

Can you prove that any Bank of Canada note is dollars?

[M.Dancer]

As I previously stated, I am not confused. Additionally, I am not bothered.

Can you prove that any Bank of Canada note is dollars?

Yep. I get paid X amount of dollars per month. I get a cheque and I take it to the the banks and they give me X dollars back. I go into a store with those X dollars and I see someting that want so I buy it and I give them the dollars from the dollars I got from trhe bank. We all agree, those Bank of Canada notes are dollars, not Bank of England pounds or lira, but if I want I can buy with my dollars Bank of England pounds....so even those foreigners know those Bank of Canada notes are dollars...which is sirprisoing cause it says dollars right on them.

So..you want FOUR shiney silver dimes for one of those not dollar Bank of Canada notes?

[dpwozney]

Yep. I get paid X amount of dollars per month. I get a cheque and I take it to the the banks and they give me X dollars back. I go into a store with those X dollars and I see someting that want so I buy it and I give them the dollars from the dollars I got from trhe bank. We all agree, those Bank of Canada notes are dollars, not Bank of England pounds or lira, but if I want I can buy with my dollars Bank of England pounds....so even those foreigners know those Bank of Canada notes are dollars...which is sirprisoing cause it says dollars right on them.

The above does not prove to me that Bank of Canada notes are dollars. I do not agree that Bank of Canada notes are dollars. A lawful offer is not dollars.

Merely having the word “DOLLARS” printed on a bank note is not proof that the bank note is dollars.

[M.Dancer]

The above does not prove to me that Bank of Canada notes are dollars. I do not agree that Bank of Canada notes are dollars. A lawful offer is not dollars.

Merely having the word “DOLLARS” printed on a bank note is not proof that the bank note is dollars.

Of course...having dollars written on them dollars doesn't prove they're dollars...being able to redeem them for goods, services or other currencies of equal value doesn't prove they are dollars....So they must be ducks? Or Duckets?

Great. I will give you shiney dimes for yours.

[dpwozney]

So they must be ducks? Or Duckets?

Bank of Canada notes claim to be legal tender. This Bank of Canada webpage provides the following answer for the question, “What is ‘legal tender’?”:

“A ‘tender’ is an offer of payment of a debt. In Canada, legal tender consists of coins issued by the Royal Canadian Mint and bank notes issued by the Bank of Canada.”

A lawful offer is not dollars.

[dpwozney]

Bank of Canada notes claim to be legal tender.

Legal tender is not the same as dollars and cents. Financial transactions, that do not involve any legal tender, are claimed to be conducted in dollars and cents.

[M.Dancer]

Bank of Canada notes claim to be legal tender. This Bank of Canada webpage provides the following answer for the question, “What is ‘legal tender’?”:

“A ‘tender’ is an offer of payment of a debt. In Canada, legal tender consists of coins issued by the Royal Canadian Mint and bank notes issued by the Bank of Canada.”

A lawful offer is not dollars.

What is it that confuses you? Do you think that simple explanation mens that the Ten Dollar Bill (the one that says 10 dollars on it) isn't cash?

Okay, I will humour you. What is cash?

[M.Dancer]

OH MY GOSH!!!

According to the Bank of Canada, they make paper money. Correct me if I'm wrong...but the ten dollar note..ian't that money? If it ain't, I will trade four dilver dimes for one.

http://www.bankofcanada.ca/en/banknotes/index.html

[Bryan]

The Canadian dollar will be $1.25 by Xmas. You read it here first.

**** I hope not. I'm pretty much praying for the CDN dollar to crash back down to 65-70 cents US. All my clients are in the US and I get paid in US funds. This stronger dollar is killing me.

[Visionseeker]

**** I hope not. I'm pretty much praying for the CDN dollar to crash back down to 65-70 cents US. All my clients are in the US and I get paid in US funds. This stronger dollar is killing me.

It will get nowhere near that mark. The rise of our dollar is tied to US decline and the price of oil. We have more oil than the US and, as the price of oil rises in US dollars, we absorb more of those dollars when exchanging our oil. Add to this the lack of US exports to us that might balance off the exchange, and our dollars remain out of there hands (exacerbating the comparative value). With a significant drop in oil prices (something we will witness from now through to December and beyond), one arm the currency exchange will relax. I would predict a CND$ at around 90-92 cents US come X-mas.