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Canadian Dollar Officially Worth more than United States Dollar

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posted on Oct, 10 2007 @ 12:04 AM
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Unable to arrive at a clear interpretation of the Fed's murky tea-leaves today, the markets declared a Rorschach Test...each contingent allowed to see exactly what it wanted to see.

With respect to the Dollar, I think the most notable news today was the US Treasury weekly international reserve report. Released this afternoon, it shows a 388MM decline in foreign currency reserves. No headlines, but the Dollar noticed...so did Gold.

Flight of foreign capital.




posted on Oct, 10 2007 @ 01:15 AM
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Originally posted by sp00n1
UPDATE:

The conversion ratio is now;

1 CAD$ = 1.0183 U$D (and climbing)

A massive panic is about to be unleashed.

[edit on 10/9/2007 by sp00n1]


The only panic that might be unleashed is by Canadian businesses across the border that are no longer going to have American tourist dollars filling their bank accounts.



posted on Oct, 10 2007 @ 01:44 AM
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The Australian dollar as of now is 0.898758 US cents.

Australian economists are saying that we may achieve parity within the next few months, maybe even next February.

to be honest, i would prefer our dollar climbed closer to the pound, i buy alot of stuff from Britain



posted on Oct, 10 2007 @ 01:42 PM
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reply to post by robert z
 


The dollar's decline is going to get a lot worse. The former critics of the theory that the dollar was heading to its demise now offer the argument that a weak dollar is good, and it's decline will be slow.

The decline is about to accelerate at a very quick pace. The lower it goes, the more people sell, the more people sell, the lower it goes. There is no end in sight.

There is a very real possibility of the dollar's value reaching zero.



posted on Oct, 10 2007 @ 07:43 PM
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There is a very real possibility of the dollar's value reaching zero.


reply to post by sp00n1
 


What do you think would become of America in this case? The World? What would the values of gold/silver be? No money to fight wars, or a reason to start more?



posted on Oct, 10 2007 @ 07:55 PM
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reply to post by HimWhoHathAnEar
 



Probably the biggest yard sale the world has ever seen. Then a US dollar based on something of real value will re-emerge.

No matter how low it gets, the country will survive, mostly because the American people will have to learn how to work together for the common good again, just like 'socialist' Canada tries to do. They have the capacity already... it's just hidden under the newsworthy pile of corrupt corporations like Enron. American people care very much about each other. That's shown every day if you look deep enough. In the long run, it'll be the 'salt of the earth' types that will pull it all back together.

[imo]The neocon experiment is failing and it's about time [/imo]



posted on Oct, 10 2007 @ 08:06 PM
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reply to post by masqua
 





mostly because the American people will have to learn how to work together for the common good again


Thus my question about wars. In the past wars have followed economic bad times. And Lord knows we have enemies!



posted on Oct, 11 2007 @ 05:17 PM
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I doubt that I'm the only one that noticed the CAD went above $1.02 U.S. last night...as high as $1.0259 (still trading in that range)
One pundit declaring today that Canadians are no longer 'hewers of wood and drawers of water'...but...‘conveyors of crude and moilers of metals'.

Good for you Canada! The boom in commodities should see you well into the next decade
Just keep an eye on those that would pick-your-pockets...the proposed NAU, and those that support it



posted on Oct, 11 2007 @ 09:05 PM
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reply to post by OBE1
 


Indeed. BUY GOLD!



posted on Oct, 11 2007 @ 11:00 PM
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I bought 6 ounces of australian Philharmonics when the price was in the 530's range early last year. I only sold one recently because I had miscalculated my budget, and did not have enough to pay my bills. It helped me get some car repairs done too. 5 more to go....



posted on Oct, 11 2007 @ 11:43 PM
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Originally posted by BitRaiser
Our electricity too expensive? Tough! Where else are ya gonna get it?


Solar cells... we have a LOT of sun out here and a lot of empty desert
We just switched on a big plant out here in Nevada...

And once the Helium 3 from the Moon starts coming in... well gold will be a lot less sought after



posted on Oct, 13 2007 @ 03:51 AM
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The Rampage continues... The Lonny closed today at just over $1.03 US.
Yahoo has a nice page for the values, conversions, and graphs for currencies.
finance.yahoo.com...
Check out the US dollar vs the Euro in the 5 year graph.


This is getting a little scary.
I mean, the bragging rights are nice 'n I don't believe we'll get hit too hard via trade, but if the US economy tanks out... well... things are going to get "interesting".



posted on Oct, 13 2007 @ 05:22 AM
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This is getting a little scary.
I mean, the bragging rights are nice 'n I don't believe we'll get hit too hard via trade, but if the US economy tanks out... well... things are going to get "interesting".


Based on history there are a few possible scenarios.

Scenario 1. Humble USA, grateful world.

The US Dollar reaches so low that it decides to begin to sell off as much of its extrenuous technology as possible, the easiest to sell will be Military tech but social technology goes well.

The world buys these, the weaponary and military balance of power shifts away from the US, and hopefully everyone leaves alittle wiser.

Scenario 2. Independant USA, hateful world.

Based on the actions of Post WW1 Germany. The US dollar will reach so low that the US closes its doors to import and export and the International market. The Dollar gets shifted to a fixed price and the US works its ass off (alot like the 1930s under Roosevelt) to get prices back to managable levels and get confidence back into the system.

The problem with this is that indepenance from the world creates bad feelings for both inside and outside the fence. If the US manages to get out of its economic problems it would come out Xenophobic facing a distrusting world.

When the International buyers and sellers refuse to sell and buy from the US (and US refuses to buy and sell "America for the Americans"[1920's isolationism policies]) America will look to force to try and take what it needs (1939, Nazis invade poland after bad feelings and economic recession create bad feelings and the need for action)

Scenario 3. Humble USA, hateful world.

This is less likely than people like to think because the politics would earn any party involved basically a black mark in world politics.

The US declares itself to be a failing economy and begins to sell off its extrenuous technology and military tech. Another power buys up US weapons and technology, forces its allies to close of trading with the US and then attack with force. Probably winning, since the US cannot afford to fight any kind of prolonged war.

The problem with this scenario is that any force willing to attack the US in its time of weakness will probably lose any allies it has and make itself an enemy of the world. After a fight with the (weakened, but still dangerous) US , i dont think any power would be able to survive such a reputation in world politics.


These are just some thoughts, take them how you will.



posted on Oct, 13 2007 @ 02:05 PM
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My Opinion

Lower dollar means more tourists!!1

More Tourists means better economy.

Better economy means more jobs.



posted on Oct, 13 2007 @ 02:10 PM
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Originally posted by Miishgoos
My Opinion

Lower dollar means more tourists!!1

More Tourists means better economy.

Better economy means more jobs.



It also means the American made products can be competitive in the open market overseas. More exports = better economy.

This will improve the trade imbalance. All the alarmists deriding the U.S. for its trade imbalance are also the same people fretting over the drop in the dollar. Only shows they really have no clue when it comes to global macro economics.



posted on Oct, 13 2007 @ 02:27 PM
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reply to post by masqua
 


"Socialist Canada"? Seems a bit out there masqua. Certainly your effort to spread distance between the US People and their Gov is easily concurred with but I have a wee-bit of trouble seeing anything socialist about our Cdn Gov.

Dallas



posted on Oct, 13 2007 @ 02:31 PM
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reply to post by Miishgoos
 


While you're right, tourism is not the only source of economic growth Canada has. In fact, tourism is only a very small part of what drives our economy. Our main industries are all resource based. We are one of the very few developed nations that has an economic backbone based on the Primary Sector and is a net exporter of energy.

This makes our trade somewhat hardened against a strong dollar. As I mentioned previously in this thread, it's not like the US can just stop buying our electricity. Half the country would go dark. Same goes for our lumber, oil, and metals. Sure, they are more expensive with our higher dollar... but where else are they going to get them from without forking out for shipping expenses?

So yes, US to Canada tourism will take a hit, but then again it already has been dropping steadily for the last few years even without a strong dollar. Border issues and US fear mongering has been keeping people at home.

My guess is that Canada's net income from the states will rise due to the strong dollar, so that's not my worry.

The only thing I'm worried about is an economic collapse in the US.



posted on Oct, 13 2007 @ 05:22 PM
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Don't know if it's been said already but the dollar is worth something like $.02 cents compared with a dollar in 1914. 'Bout when the Federal Reserve was started. The final removal from the gold standard was done in the 70's. The only thing that's propped up our fiat currency since then has been oil (petro-dollars). That's starting to go away.

Now that this is happening the truth will have to come out. There is something like 40k worth of paper for every ounce of gold in the hands of the government. 'IF' all the gold is there. Since they've been forward selling and all these other shell games for a long time now.



posted on Oct, 13 2007 @ 06:47 PM
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The Commerce Dept reported on Thursday that the US trade deficit had declined in August on record exports (please note the word Gold in the above linked article). The Bush administration will undoubtedly colour this event in their favor...and none of the congressional lacky's (with the exception of maybe Ron Paul), will ever look into the details.

The record setting August export numbers were actually lead by nonmonetary Gold exports
not to be confused with Gold sales...but the repatriation of Fed held Gold to the owners of record.

Thankfully, some folks, like the boyz at Agora Financial, do pay attention to detail:

"It turns out that ‘nonmonetary gold’, explains Eric, “is gold that is held by the New York Federal Reserve Bank on behalf of foreign governments. So these ‘exports’ aren’t really exports at all. They are just a delivery of goods that already belong to someone else. That fact that we are ‘exporting’ this gold simply means that a few foreign governments have decided they’d rather hold their gold in their own vaults.”

Certain Canadian exporters (lumber) have already been negatively affected, but overall, Canada has nice cushion against the effects of a US recession. Namely, global demand for it's sizable underground resources, a safe banking system, and attractive interest rates. It's also the only G-8 country without a deficit....the girls are kinda perdy too


*For Entertainment Purposes Only*


Edit: Wake-up America!...don't buy the Hype.

[edit on 13-10-2007 by OBE1]



posted on Oct, 13 2007 @ 07:06 PM
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reply to post by OBE1
 


That settles it, im movin to canada!



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