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Swift Current, Sask | From what I can gather (I'm by no means a financial expert), is the ECB would be taking them out of circulation. You would be able to exchange for different valuations, but they would be reducing the physical supply by 30+%. Like when Canada took the penny out of circulation. No more physical is printed, and the remaining pennies were slowly brought "home" to the banks, thus extinguishing that portion of total physical supply, albeit a small portion. They would be attempting to funnel $700 billion euros into stocks, bonds, investments, etc. I think it's a pretty dangerous way to try and loosen pursestrings and shows how set they are on NIRP.
Locally, food is more expensive than last year. Imported fresh fruit and vegetables (grapes, peppers, strawberries) are 50-100 % higher than last year. Exchange rates are the kicker. Meat seems to be a little lower. Grocery bill sure doesn't get any less. | |
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War on Cash
