Canadian dollar briefly falling to just below 70 cents U.S.

Sad situation. Dollar used to be so strong. And not just against the U.S. dollar.

September 20, 2007: The Canadian dollar returns to equal value with the U.S. dollar for the first time since the 1970s.
November 7, 2007: The loonie closes at US$1.0775, intensifying fears that a rapidly climbing currency could erode the competitiveness of Canadian products. The news prompts Prime Minister Stephen Harper to issue a cautionary comment about the dollar.

The Canadian dollar (CAD) reached its highest level against the West German Deutsche Mark (DEM) in January 1970

• 1970: ~3.60 DEM per 1 CAD
• 1989: ~1.58 DEM per 1 CAD
• 1995: ~0.95 DEM per 1 CAD [1, 2]

By the time the Deutsche Mark was entirely replaced by the Euro in 2002, the Canadian dollar had lost more than half of its maximum 1970 value against the German currency

At some point both the U.S. and Canada will have to
turn on the printer to service government debt. The
loonie can't ever become as worthless as the USD green
toilet paper.

Yeah it's certainly in a rough spot but it's been worse and it'll get better as usual. Hopefully sooner rather than later.

I expect this to happen until the trade tariff situation is resolved. Its unfortunate but a necessary thing to stand our ground.