Iceland to adopt Loonie instead of U.S. Dollar

[MachineGhost]

Iceland’s newfound love for the loonie is sparking a wave of controversy, from Reykjavik to Ottawa.

For 150 years, the rest of the world has shown scant interest in the Canadian dollar – the poor cousin to the coveted U.S. greenback.

But now tiny Iceland, still reeling from the aftershocks of the devastating collapse of its banks in 2008, is looking longingly to the loonie as the salvation from wild economic gyrations and suffocating capital controls.

http://www.theglobeandmail.com/report-o ... le2356634/

[Gosso]

First Iceland, then the WORLD! 

But honestly this just turns Iceland into an unofficial Canadian province. I understand why they want this, since they are terrified they will be hoodwinked by banksters again.  But if they set up the proper laws to limit the power of bankers then I think they'd be better off with their own currency.

Or they could officially become a Canadian province, which would make things work much better.  I think Canada and Iceland have a similar value system, so it wouldn't take much for them to accept our laws.  And we can avoid the CAD becoming the next Euro...I never thought I'd say that!

[clacy]

Darn it.  I really thought the Amero had its chance in Iceland.

[Lone Wolf]

But honestly this just turns Iceland into an unofficial Canadian province. I understand why they want this, since they are terrified they will be hoodwinked by banksters again.  But if they set up the proper laws to limit the power of bankers then I think they'd be better off with their own currency.

I tend to lean toward Iceland being best off keeping the Krona as well.  Still, a part of me can't help but wonder whether it makes sense for a country with roughly 300,000 inhabitants to issue its own currency.  That's not even a medium-sized American city!

[MediumTex]

But honestly this just turns Iceland into an unofficial Canadian province. I understand why they want this, since they are terrified they will be hoodwinked by banksters again.  But if they set up the proper laws to limit the power of bankers then I think they'd be better off with their own currency.

I tend to lean toward Iceland being best off keeping the Krona as well.  Still, a part of me can't help but wonder whether it makes sense for a country with roughly 300,000 inhabitants to issue its own currency.  That's not even a medium-sized American city!

It's like Arlington, Texas spread across an island and sitting on top of a volcano.

[WildAboutHarry]

It's like Arlington, Texas spread across an island and sitting on top of a volcano.

Where do they put the MLB and NFL stadiums?

[smurff]

How about building them inside the volcanoes?  Imagine the TV ads the Superbowl could get when they blow!

[Gosso]

Don't listen to them Iceland!  They're just jealous that you will potentially choose the CAD over the USD...even though we're on the verge of a housing collapse and are completely screwed once China slows down, but at least you will have a bigger population than Prince Edward Island.

We'll even throw in Justin Bieber and Celine Dion to sweeten the deal!

[smurff]

Justin Bieber just earned his high school diploma, so he's a bit more valuable now.