Bank of Canada Outdoes Competition

Bank of Canada Governor Mark Carney unveiled the new fiat 50 dollar bank note at a launch party in Quebec City today. According to Carney:

Thanks to greatly enhanced security features and efforts undertaken by police forces, especially the Sûreté du Québec and the RCMP, as well as the support of financial institutions and retailers, counterfeiting rates have been reduced by 90 per cent since 2004. Issuing this new series of bank notes enables us to continue to stay ahead of counterfeiters.

Yet more proof the government hates competition.

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  • About Gregory Cummings

    Gregory Cummings writes about Canadian monetary and economic policy. His writing has been featured at the Ludwig von Mises Institute of Canada and the Ludwig von Mises Institute's Mises Daily publication. Read more.

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