Help support videos like this: http://www.cgpgrey.com/subbable
**T-Shirts now for sale!** : http://goo.gl/1Wlnd
Grey's blog: http://www.cgpgrey.com/blog/
Here's my previous video on pennies http://youtu.be/y5UT04p5f7U & also John's rant on the topic: http://youtu.be/77C47XYm_3c Help me make videos faster: http://blog.cgpgrey.com/work-in-progress/
Canadian MP Pat Martin (http://patmartin.ndp.ca/) said it best: "There's 30 billion pennies in circulation and every year they were minting a billion more. It was just a no-brainer, slam dunk, that it's a place where we could save some money. They cost more to produce than they are worth, nobody likes them, they have no commercial value."
You can read the details about Canada's plan to withdraw the Penny from circulation here: http://www.budget.gc.ca/2012/themes/theme2-info-eng.html
If you're a super geek there is an interesting report about the inefficiencies in the economy caused by the Canadian penny here: http://www.desjardins.com/en/a_propos/etudes_economiques/actualites/point_vue_economique/pve80409.pdf An interesting bit is the following:
"In truth, the 'artificial' demand for small-denomination coins is rising primarily because merchants and financial institutions have to constantly add new coins to the retail distribution system due to a shortage caused not by commercial or economic factors but rather by the fact that consumers do not put their small-denomination coins back into circulation. The hoarded coins do not circulate and are not used for any productive purposes. Moreover, most people cannot be bothered to take the time to count, roll and deposit these coins so that financial institutions can put them back into circulation, no doubt because over the years, the Canadian standard of living has continued to rise, eroding the purchasing power of these coins. If nothing changes, this situation will only be exacerbated in the coming years and decades."
I wanted to have a hidden link on 'Vancouver' in the beginning to this video: http://vimeo.com/7764570 but YouTube won't allow off-site links. Go check it out.
Grunge Flags by http://think0.deviantart.com/
Music by: http://freemusicarchive.org/music/Broke_For_Free/Something_EP/
French translation by: https://twitter.com/#!/RaphaelCabon
German translation by: https://twitter.com/#!/Chris_Wachtler
If you would like to help me make more videos please join the discussion on:
Or suggest ideas and vote on other peoples' ideas at by blog: http://blog.cgpgrey.com/work-in-progress/
Tagged under: Canada,Penny,Pennies,Economics,Money,Currency,News,Cash,Inflation,Savings,Canadian Royal Mint,credit cards,debit cards,interac,cgpgrey
Clip makes it super easy to turn any public video into a formative assessment activity in your classroom.
Add multiple choice quizzes, questions and browse hundreds of approved, video lesson ideas for Clip
Make YouTube one of your teaching aids - Works perfectly with lesson micro-teaching plans
1. Students enter a simple code
2. You play the video
3. The students comment
4. You review and reflect
* Whiteboard required for teacher-paced activities
With four apps, each designed around existing classroom activities, Spiral gives you the power to do formative assessment with anything you teach.
Carry out a quickfire formative assessment to see what the whole class is thinking
Create interactive presentations to spark creativity in class
Student teams can create and share collaborative presentations from linked devices
Turn any public video into a live chat with questions and quizzes