Plastic or plastic?

Canada is planning to go plastic with their bank currency notes! I have been waiting for some country to start this trend for so long. It makes much sense to have plastic money which is basically indestructible as well as much more difficult to counterfeit. Also, in India after the pan wallas and parking wallas have gotten a hold of that paper money it goes through a lot to remain in shape and stinks up your wallet if you receive it.
Plastic would definitely solve all these issues and make money last much longer in a better condition. Though we'll loose the crispiness of freshly printed cash from the bank!

Comments

  1. AJApril 15, 2010 at 9:07 AM

    well, Canada was not the first to have made this effort.. Japan before this... and they tested this sort of a system within a formal framework. goes to show that inflation and external trade come under mighty pressure.. a significant issue arises about trade credits and how they would be denominated (under the rule of plastic money).. and to me, it's a system spiked with loopholes... for one, there is a need for an extremely watertight infrastructure... and there are too many tail risks involved with eradicating paper money... let me see if I can find you that link...

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