When European and North American banks teetered on the brink of meltdown in 2008, requiring bailouts and extraordinary central bank intervention, Canadian banks escaped relatively unscathed. History explains why.
(As Stated by the National Bureau of Economic Research)
The United States allowed a weak, fragmented system to develop, with far more small (and less stable) banks, along with a shadow banking system of less-regulated securities markets, investment banks, and money market funds overseen by a group of competing regulators.
Stability of the Canadian banking system is not a one-off event.
The contrast is striking. While in 2008 and 2009 the United States experienced bank failures, bailouts, and the worst recession since the 1930s, Canada had no bank failures, no bailouts, and its recession was less severe than either that of the early 1980s or early 1990s. Long before 2008 in the United States, there were the failures of the private investment bank Jay Cooke and Co. (the 1873 crisis), the Knickerbocker Trust (the 1907 panic), and the runs on banks that deepened the Great Depression. Although Canada's economy suffered a collapse equally as dramatic as America's in the 1930s, not one of its banks failed.
Canada ecoin (as compared to today's fiat Money Value?)
Money doesn't have any inherent value. Unless you enjoy looking at pictures of deceased national heroes, money has no more use than any other piece of paper until, as a country and an economy, we assign value to it. At that point, it does have value, but the value isn't inherent; it's assigned and generally agreed upon by users worldwide.
Now the United States is on a system of fiat money, which is not tied to any other commodity. So these pieces of paper in your pocket are just that: pieces of paper.
It’s simple: Money is a good with a limited supply and there is a demand for it because people want it. The reason I want money is that I know other people want money, so I can use my money to get goods and services from them in return. They can then use that money to purchase goods and services they want.
Similiarly the Canada ecoin has VALUE because YOU and I say it has. I traded Fiat Money for Canada ecoin Money. That fiat Money Value is converted to the Canada ecoin. Why? Because I believe in it and have (Faith) in it. Otherwise why would I do that.If YOU and I agree it has Value it does. End of Story.
Another source of concern—that the Canada ecoin is dicey because it lacks “intrinsic value”—is a weak argument. In truth, almost nothing in the world of trading and money has “intrinsic value.” Money has only the value that is ascribed to it over time. Fiat currency, issued by nations, has always faced distrust from skeptics who say it is backed only by a government’s good faith.
So If I say to you I'll give you 100 Canada ecoins for your (eg:Stamp Collection) you lost interested in and you agree and we complete the transaction.That's Value.
Goods and services are what ultimately matter in any economy, and money is a way that allows people to give up goods and services which are less desirable to them, and get ones that are more so.
Our system of ecoin operates on a mutual set of beliefs; so long as enough of us believe in the future value of Canada ecoin the system will work.
“All of us have to learn how to invent our lives, make them up, imagine them. We need to be taught these skills; we need guides to show us how. If we don’t, our lives get made up for us by other people.” —Ursula K. Le Guin, The Wave in the Mind, 2004.