What? Aw c'mom Samaritano Tonto, we are talking about the economies here, if you can't debate and accept your foolish pre-emptive predictions then don't participate in these debates, I caught you with your pants down, you were dead wrong 13 months ago. Canada has always had the highest standard of living and better conditions the world over, about 6 times in a row according to the United Nations, what about the USA? Oooops I forgot they have been in about 14th place behind Holland, Sitzerland, Australia and even behind New Zealand.E_B_Samaritano said:
US dollar is getting pounded
- Thread starter Malibook
- Start date
Just an update on current street talk ( Bay ) about our dollar as work for RBC. Our feds are looking to drop
our rates for the next little while, to encourge our export trade and with overall concerns of the greenback
being too low versus the euro dollar.
our rates for the next little while, to encourge our export trade and with overall concerns of the greenback
being too low versus the euro dollar.
This my friends is the gradual and long waited challenge to the mighty greenback that the world has been looking for. Before the US dollar was the standard exchange mechanism, and while it still is, it is slowly being shifted to the Euro, as world economies try and difersify their risks. And although we will constantly see currency swings both ways, the long term effect is a devalueing of the US dollar.
E_B_Samaritano said:
http://ctv2.theglobeandmail.com/ser...008/business/Business/businessBN/ctv-businessSheik said:
http://www.oanda.com/
Saturday, October 9, 2004
1 US Dollar = 1.25240 Canadian Dollar
1 Canadian Dollar (CAD) = 0.79847 US Dollar (USD)
Median price = 1.25190 / 1.25240 (bid/ask)
Minimum price = 1.24930 / 1.24980
Maximum price = 1.26260 / 1.26320
This is terrible
Just checked:
http://www.xe.com
Rate was 1.25200. Sure do miss those 1.60 & 1.55 rates of a few years ago!
Just checked:
http://www.xe.com
Rate was 1.25200. Sure do miss those 1.60 & 1.55 rates of a few years ago!
W
WhOiSyOdAdDy?
This is terrible???
It is great for cross border shopping and travel in the USA... hopefully oil keeps going up (could hit $100/barrel!!) and the Canadian dollar will hopefully be at par.. or worth more than the US$
but I guess the down side will be when the US economy grinds to a halt in the near future
Maybe the price of oil is being manipulated by someone who is trying to make it more difficult for Bush to be re-elected.
It is great for cross border shopping and travel in the USA... hopefully oil keeps going up (could hit $100/barrel!!) and the Canadian dollar will hopefully be at par.. or worth more than the US$
but I guess the down side will be when the US economy grinds to a halt in the near future
Maybe the price of oil is being manipulated by someone who is trying to make it more difficult for Bush to be re-elected.
The Canadian dollar hit 80 cents yesterday, though settled back to 79 and change.
In talking to someone in the know lately, they are betting on a 90 cent dollar within a year.
Incredible.
And I remember that twit Sheri Cooper at BMO saying when the dollar was at 60 cents that we should all just adopt the American peso because our dollar was most likely going sub 50 cents.
And that twit still has her job???
Oil prices are being driven sky high by pure speculation. The speculators believe that there will be another major terrorist attack, or more destabilization in the middle east which will interupt the supply pipeline.
When that happens, you will see oil going for 100 a barrel.
That's what these guys are betting on, and why they are buying oil futures.
One thing is for sure, the oil prices aren't going to fall anytime soon because the entire middle east situation isn't getting any better, it's getting worse.
In talking to someone in the know lately, they are betting on a 90 cent dollar within a year.
Incredible.
And I remember that twit Sheri Cooper at BMO saying when the dollar was at 60 cents that we should all just adopt the American peso because our dollar was most likely going sub 50 cents.
And that twit still has her job???
Oil prices are being driven sky high by pure speculation. The speculators believe that there will be another major terrorist attack, or more destabilization in the middle east which will interupt the supply pipeline.
When that happens, you will see oil going for 100 a barrel.
That's what these guys are betting on, and why they are buying oil futures.
One thing is for sure, the oil prices aren't going to fall anytime soon because the entire middle east situation isn't getting any better, it's getting worse.
some advice
i will be going to school in the states in may. i have saved quite a bit so far, as it is pretty expensive. i was wondering if i should change some can. $ now at .79 or if i should wait. also, there are companies on the net that offer the highest exchange rates, where u send them $ through a wire and they put the US $ in ur account. does anyone know if these companies are credible, or has anyone done this before. i wanted to try and avoid a paper trail, but i don't know if that is possible. thanks.
i will be going to school in the states in may. i have saved quite a bit so far, as it is pretty expensive. i was wondering if i should change some can. $ now at .79 or if i should wait. also, there are companies on the net that offer the highest exchange rates, where u send them $ through a wire and they put the US $ in ur account. does anyone know if these companies are credible, or has anyone done this before. i wanted to try and avoid a paper trail, but i don't know if that is possible. thanks.
I always thought a high CDN dollar is not so great for Canada other than cross border shopping. We are predominately an export company and a high dollar hurts that. Also Canada is a place where US jobs are outsourced (just doesn't get the exposure of India and China) and a high dollar makes exporting jobs to Canada not as attractive.
Personally for me I love it since I visit the US quite often but it is a mixed bag for the economy...
Personally for me I love it since I visit the US quite often but it is a mixed bag for the economy...
When everybody hates the USD, then maybe it is time to buy. Remember when everybody loved Nortel 4 - 5 years ago, it was the best time to sell, even short sell.
If crude oil goes to $100/barrel, how many of you can still afford to drive SUVs ? The whole world will go to recession. It is true that price of crude oil won't come down soon, but in a year or so, I believe , it will settle below $40.
In terms of CAD, if it moves to 90 cents, our exports will suffer. The Canadian economy will slow down. Our SPs will loose the American customers, but, it will be good news for Canadian hobbyists....lol
If crude oil goes to $100/barrel, how many of you can still afford to drive SUVs ? The whole world will go to recession. It is true that price of crude oil won't come down soon, but in a year or so, I believe , it will settle below $40.
In terms of CAD, if it moves to 90 cents, our exports will suffer. The Canadian economy will slow down. Our SPs will loose the American customers, but, it will be good news for Canadian hobbyists....lol
Not really.....in some areas it has already begun.Speedo said:
I still miss that stronger USD though.
Re: some advice
http://ctv2.theglobeandmail.com/ser...204/business/Business/businessBN/ctv-business
According to figures compiled by the IMF, the U.S. Treasury, and the Bank for International Settlements, the net debt owed by the United States to foreign creditors is around $2 trillion dollars. That's a big number, even in relation to the total amount of money in the world. Currently the total amount of currency reserves in the world is $3.36 trillion. And 64% of these reserves are held in dollars, or $2.15 trillion dollars. Thus, we owe foreign lenders almost most as much money ($2 trillion) as is currently in existence ($2.15 trillion).
"In all my years of investing, there's one rule I've prized beyond every other. Always bet against central banks and with the real world... When a central bank is defending something — whether it's gold at $35 or the lira at 800 to the dollar — the smart investor always goes the other way. It may take a while, but I promise you you'll come out ahead." Jim Rogers
I hope you changed your money.kat19 said:
http://ctv2.theglobeandmail.com/ser...204/business/Business/businessBN/ctv-business
According to figures compiled by the IMF, the U.S. Treasury, and the Bank for International Settlements, the net debt owed by the United States to foreign creditors is around $2 trillion dollars. That's a big number, even in relation to the total amount of money in the world. Currently the total amount of currency reserves in the world is $3.36 trillion. And 64% of these reserves are held in dollars, or $2.15 trillion dollars. Thus, we owe foreign lenders almost most as much money ($2 trillion) as is currently in existence ($2.15 trillion).
"In all my years of investing, there's one rule I've prized beyond every other. Always bet against central banks and with the real world... When a central bank is defending something — whether it's gold at $35 or the lira at 800 to the dollar — the smart investor always goes the other way. It may take a while, but I promise you you'll come out ahead." Jim Rogers
I tend to agree Winston, although it is the deficits that are going to be our undoing.... trade deficit and budget deficit. The economy is going OK right now, unemployment is below pre-9/11 levels, and even with a series of small interest rate increases, rates are still at historically low levels.
The problem is that the boom funded by refinancing and low interest rates is over. You cant go back to that well a second time since most homeowners already have sub-6% rates.
There needs to be a drastic correction in the trade imbalance, and only a lower dollar will help that. The euro will eventually be the international currency of record anyway....
The problem is that the boom funded by refinancing and low interest rates is over. You cant go back to that well a second time since most homeowners already have sub-6% rates.
There needs to be a drastic correction in the trade imbalance, and only a lower dollar will help that. The euro will eventually be the international currency of record anyway....
The dollar's getting pounded for a few reasons:
- The economic boom of the late 80's and 90's was fuelled primary by personal debt and corporate leverage. Now the economy is starting to pay the price. According to Jeremy Rifkin, more people are expected to file for bankruptcy this fiscal year than will file for divorce;
- The more protectionist the US gets, the harder the economy will fare. Undoubtedly the biggest internal market used to be the US, but not any more. Protectionist policies are not an effective way of expanding an economy;
- Much attention is being paid to China as a market. Undoubtedly, China is a huge and expanding market. Strangely, though, the EU is a far larger market than China, but the EU gets short shrift when it comes to trade with the US;
- Approximately 2% of American males are incarcerated. Aside from the huge cost of keeping men in prison, that number represents a huge untapped labour pool that is inaccessible. A large percentage of these incarcerations are a direct result of the misguided "war on drugs", whereby someone caught with a joint ends up, on average, doing more time than someone who's been convicted of a violent crime. Yes, really;
- Estimated deficit of half-a-trillion dollars, a number so large as to be incomprehensible;
- Primary and secondary schools in Europe and Canada consistently outperform their American counterparts (though the US college and university system is second to none... so far);
- The US ranks 41st in infant mortality, beaten by the medical powerhouses of Macau, Czech Republic, Slovenia and a socialist Canadian system;
- The real unemployment rates is estimated to be approximately 9%, rather than the 4 or 5% number that continues to be spewed forth by policy hacks;
- The American dream of rugged self-interest and limitless economic growth is being eclipsed by a more holistic view of sustainable development, environmental stewardship, quality of life and the building of community;
- Bush got re-elected. 'nuff said.
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Now, ask yourself: Does this sound like a healthy basis for an expanding economy?
(Most, but not all, data is taken from http://www.foet.org/European Dream.htm. A fantastic and chillling read.)
Would you agree with this strategy, to make $$$:Malibook said:
http://moneycentral.msn.com/content/P100069.asp
