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Canadian Dollar Officially Worth more than United States Dollar

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posted on Sep, 23 2007 @ 11:07 PM
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Canadian Dollar Officially Worth more than United States Dollar


www.bloomberg.com

Against the Canadian dollar, the U.S. currency fell to $1.0018 from $0.9992 on Sept. 21, when it declined to a 31-year low of $1.0064.

The dollar fell to 115.10 yen at 12:35 p.m. in Tokyo from 115.50 late in New York on Sept. 21. It traded at $1.4101 against the euro from $1.4091 last week and a record low of $1.4120. Against the pound, the dollar reached $2.0266, the lowest since Sept. 13, from $2.0203. It may fall to $1.42 against the euro this week, Attrill said.
(visit the link for the full news article)



Related AboveTopSecret.com Discussion Threads:
Dollar's Retreat Raises Fear of Collapse
China threatens 'nuclear option' of dollar sales

[edit on 9/23/2007 by sp00n1]

[edit on 9/23/2007 by sp00n1]




posted on Sep, 23 2007 @ 11:07 PM
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Well, it's been along time coming. I hate to say it, but I told you so. It's not too late to fix it, it's just not possible given the massive level of incredulity that arises from the ignorance of the masses. Don't expect to find this story featured prominently on CNN, it would compete with their "Britney Time".

www.bloomberg.com
(visit the link for the full news article)



posted on Sep, 23 2007 @ 11:11 PM
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This will not necessarily be good news for the Canadians.

"Canadian Auto Workers economist Jim Stanford warns the manufacturing sector will lose hundreds of thousands of more jobs if the (Canadian) dollar remains high."

www.ctv.ca...



posted on Sep, 23 2007 @ 11:11 PM
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To follow this as it develops in real time, you can google the search phrase "canadian dollar" which, while using the net from the united states, it will calculate the exchange rate.

Here's a link to the search results with the exchange value;

Canadian - U$D exchange rate



posted on Sep, 23 2007 @ 11:15 PM
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America is about to go "pop". And there will be mess everywhere!



posted on Sep, 23 2007 @ 11:27 PM
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I must admit, this is exciting stuff. Scary, yes! That's what makes it so exciting!! I probably won't be sleeping much over the next few days, i'm keeping my eyes glued on this. It's an unhealthy obsession, i know...

I really expect a major devaluation of the dollar will be sooner rather than later. The problem is that dollar weakness compounds upon itself. All of these entities with massive dollar backed assets are pressured to get out of the dollar as it slides. This selling pressure only pushes the dollar down further, providing the impetus for more holders to sell.

Unless we can come up with Trillions of dollars in gold to buy back all these dollars that we've sold, nobody is going to want to hold them.



posted on Sep, 23 2007 @ 11:30 PM
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Man, if I had a dollar
for everytime America's financial death was prematurely predicted. Look at it this way, how are all the other countries faring in standard-of-living measures as compared to America? I would be worrying about the other countries and not America.



posted on Sep, 23 2007 @ 11:33 PM
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reply to post by uberarcanist
 


There's a common myth that america has the highest standard of living in the world, its simply not true. If you look at Scandinavia, they have a way better standard of living in terms of education, health care, and employment opportunities.

We don't see how we've lost our wealth and standard of living because it occurs so slowly, and most americans are not exposed to any outside information first hand, hence they have no perspective to compare it to. People think its normal to go into a hospital and pay $80 for an aspirin because it's been that way for a long time. They come to think its natural.

I highly suspect that a dramatic depreciation is coming, and there will be no denying it.



posted on Sep, 23 2007 @ 11:34 PM
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Originally posted by uberarcanist
Man, if I had a dollar
for everytime America's financial death was prematurely predicted. Look at it this way, how are all the other countries faring in standard-of-living measures as compared to America? I would be worrying about the other countries and not America.


That's exactly the point. The reason why America is in trouble is because of hte high standards of living. Americans got greedy, took on cheap dept, bought millions of plasma tv's, spend trillions of dollars of high fat fast food meals, not they are stuff.

Greed is evil.



posted on Sep, 23 2007 @ 11:47 PM
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If people are STILL doubting American supremacy and invincibility in terms of their economy and world standing, you really need to pull your head out of the sand and look at the reality.

You dont drop so significantly in your dollar value, yet retain a stable economy.
You dont blow $600 billion on an illegial war, and not feel the pinch
You dont suffer major drawbacks from a downward falling mortgage sector without suffering the consequences.

So I can take 90'something canadian cents, and buy a dollar toy in the US.

My dollar ' the australian dollar ' is around 80c american...
5 years ago, it was around 60-70c.... and that was considered exceptional.

I love to say this, but America is starting to feel the reality of its incompitent criminal leaders.



posted on Sep, 23 2007 @ 11:53 PM
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What it boils down to is this;

The US has been buying all sorts of cheap plastic crap from china, and in return we give them worthless pieces of paper. The problem is that we don't make anything in the US. There is not much for foreigners to buy, other than debt. The Chinese can't use this paper to buy anything worthwhile from us, so it is essentially worthless to them as they can get nothing in return.

Of course, oil is still priced in dollars. If you own dollars you an buy oil. This is the major support for the dollar currently, that it can be traded for oil. But once again, you can buy oil with dollars, but the people selling the oil can't really get anything worthwhile from the US using all this crappy paper they are sitting on...

[edit on 9/23/2007 by sp00n1]



posted on Sep, 23 2007 @ 11:59 PM
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reply to post by sp00n1
 


Well, when oh when is the collapse coming? This stuff has been going on for years and nothing bad's happened yet. I think a lot of the doomsayers have a poor understanding of economics.



posted on Sep, 24 2007 @ 12:02 AM
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reply to post by uberarcanist
 


You're watching the collapse happen as we speak. The critics of the dollar have been right all along! Fractional-reserve banking and FIAT currencies are fundamentally unsound, they are doomed to collapse eventually.

The argument that, "It hasn't happened yet so it's never going to happen." Is a glaring logical fallacy. All your life people have been telling you that you are inevitably going to end up dead at some point. Well, they've all been wrong so far, right? So clearly, you are immortal!



posted on Sep, 24 2007 @ 12:12 AM
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Just because it hasnt happened, doesnt it mean its not going to.

Things cant keep going downhill for ever you know,

Yes doomsayers have been predicting the end of the world for centuries, but that hasnt occured yet either.

Unforuntately thats not something you can measure, where as the American economy, global standing etc etc is something that can be measured.

I believe america lost the 'super-power' status a few years back, there just the only ones insane enough to nuke the planet should something occur, being insane enough to obliterate everyone doesnt make you the biggest kid on the block.



posted on Sep, 24 2007 @ 12:15 AM
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reply to post by sp00n1
 


Very true, though I might dispute how 'wonderful' Scandinavia is, since they are being overrun by muslims. However there are also tremendous regional differences inside America itself.

Where I live in New England, the small towns have been just devastated. It used to be a mill town and there used to be a lot of small scale industry. It's all gone, all shipped overseas. In it's place are welfare checks and drug dealing. The infrastructure is crumbling. The roads are filled with potholes and most every bridge is ready to collapse. Drug Lords and immigrant gangs rule. Someone is getting shot almost every day and this is supposedly 'small town' America.

People just don't see the connection between the loss of values in post-christian America and the absolute abysmal descent into a third world hell hole. They still think this is paradise on earth. LOL
. I seriously do not know how much longer this can last. Even hi tech. jobs are going overseas, unless of course you work for the military industrial complex. Death and destruction is still big business.



posted on Sep, 24 2007 @ 12:58 AM
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I've been watching this intently for awhile now. Moreover, I predicted this would happen about a year ago... warning some friends in the US that they would be well off to invest in Euros and/or gold.

I'm getting to say "I told you so" quite a bit these days.


The issue that's coming up a lot up here is the export angle. Thing is, Canada doesn't have strong product export anyway. Other than the car market, we're mostly into resource and energy export. These aren't things the US can really stop buying. Our electricity too expensive? Tough! Where else are ya gonna get it?

Canada is now in a position of power over the US in many ways. Without our electricity, half the nation would be in the dark. Without our Grains, there would be some very hungry people down south. Without our metals and lumber, things just ain't gonna get built.

Sure, these things could be imported from other nations, but shipping cost will overrun the saving.

Don't get me wrong, I expect our strong dollar to have some negative effect on us, but overall what it will allow us to do is buy back our national assets.
I'm perty damned happy about that prospect.

On the flipside, I seriously hope the US economy crash doesn't come. It would cause too much strife and suffering to people who don't deserve it. Also, I don't want a ton of American immigration. We have some different cultural values up here that lots of American's just don't seem to get. For example, we believe in being polite!


[edit on 24-9-2007 by BitRaiser]



posted on Sep, 24 2007 @ 02:50 AM
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Economics isn't really my thing, so I could be talking rubbish here.... but

No one seems to have mentioned the ludicrously high military spending that the US indulges in annually, and the massive amounts of debt incurred to finance the Iraq war.

Surely, when (as others have mentioned) your infrastructure, health & manufacturing base are all in need of investment, spending such vast amounts on the military (and your massive national debt) has to be adding to the dollars problems?



posted on Sep, 24 2007 @ 07:02 AM
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When I was a kid (like 10 years ago,) the Canadian dollar was over the US dollar for years as well. My parents used to always go to the US to buy gas, etc. As you can see the US dollar obviously made a comeback, as the Canadian dollar was only at $0.65 5 years ago.

I'm going to exchange some CAD$ over into US$ when it hits $1.10. An extra $10 for every $100 sounds like a good deal to me. I can't see it possibly hitting $1.30, and I have been planning on buying US stocks anyway.

The Fed raising rates last week should slow it down now anyway.



posted on Sep, 24 2007 @ 07:22 AM
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I think everyone missed a very important statement in this article, That the Riyah"saudi dollar" is pegged at 3.75 for an american dollar. This being said, They stated they may restate the valuation. If infact they do, this means that most likely they will state it downward say 2.5:1 or 2:1. What this means is that barrel of oil trading at $73 a barrel just went $110 a barrel. Or for those that think gas prices it goes for $2.99 for 87 to $3.40 for 87.

On the flip side, of this issue, All oil with the exception of Irans, is traded in American dollars. If instead of re-evaluating the riyah:dollar rations, Saudi Arabia switched to the Euro, you would see a major drop in the value of the dollar, as the world would no longer be buying dollars, to buy oil. This could result in super inflation for the average american. Think bread costs $10 instead of $1.

If this was to occur, Americans would no longer be able to A.) pay credit card bills, B.) buy new gadgets, C.) continue to waste money hand over fist on useless nonsense.

You would see the retail sector fall, followed by the banking sector, as people would stop paying there credit card bills, and/or mortgages, followed by the rest of the worlds economies going south.

Saying all this, does it mean it will happen? I personally doubt it. The above would bring the populace out in droves to beat on the governement. Quite simply, the governement realises this. So, if your going to go down, better to do it slowly, then fast. Its just like boiling a frog, If you get the water boiling, and throw the frog in, it will just jump right out, but if you put the frog in the water, then slowly apply heat, the frog will stay in there till its too late.

My opinion, anything that happens to the U.S. economy will be slow and painful. More about death by a 1000 cuts, then loping the head off. As a result, people won't see the fall till its too late.

Cheers,

Camain



posted on Sep, 24 2007 @ 08:14 AM
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Although the conversion rate fluctuates constantly, as of 9:13 am today the Canadian dollar is currently worth about one tenth of one cent more than the American dollar. Wooptie Doo?



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