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Expect Canucks not to spend like before due to the weaker dollar


BurgerKing

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As I understand it, the Canadian dollar is backed by gold reserves, meaning it represents a portion of tangible wealth.

The US dollar is backed by....well.......debt......that and some dude sitting in a corner office at the Federal reserve just making up value. It's value is created out of thin air, a magic trick that everyone think is real.

The first and ONLY thing we need to learn about international finance is that it is a giant SCAM, the reason no one understands it is that there is nothing to understand,

It's all B.S

The USA was supposed to be free of central bank pollution, but Woodrow Wilson, under cover of the night sold his entire country down the river. The USA is NOT a sovereign nation, not anymore.

Anyway, GO TREV!!!!!

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Is that you Torts ?

The Canadian dollar is worth more then the USD. Its just that the CAD is managed down to give you yanks cheaper oil. I wouldn't even give you par.

Travel anywhere in the world....anywhere

Bring Canadian and US dollars, go shopping.

Report back on this thread what you were able to get with each currency.

I think that will tell you far more about where the two currencies stand then I ever could.

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As I understand it, the Canadian dollar is backed by gold reserves, meaning it represents a portion of tangible wealth.

The US dollar is backed by....well.......debt......that and some dude sitting in a corner office at the Federal reserve just making up value. It's value is created out of thin air, a magic trick that everyone think is real.

The first and ONLY thing we need to learn about international finance is that it is a giant SCAM, the reason no one understands it is that there is nothing to understand,

It's all B.S

The USA was supposed to be free of central bank pollution, but Woodrow Wilson, under cover of the night sold his entire country down the river. The USA is NOT a sovereign nation, not anymore.

Anyway, GO TREV!!!!!

Essentially true. The Canadian dollar is not backed by gold though. It's backed by the shares in the BoC which are owned by the Canadian people making it a truly 'federal' bank rather than a private one.

I just finished reading a book about John Law called 'Milliionaire.' It was very enlightening regarding the creation of fiat currencies. Law is the man credited with creating the French paper note system that revolutionized international finance, and had taken similar examples from England, Itlay and Holland to a completely different level.

In case it wasn't implicit, the man was an inveterate gambler and knew how to manipulate currency speculation, interest and reserves. He essentially made his living as a charlatan.

Travel anywhere in the world....anywhere

Bring Canadian and US dollars, go shopping.

Report back on this thread what you were able to get with each currency.

I think that will tell you far more about where the two currencies stand then I ever could.

While that's true it's inherently temporary. The only question is when that will stop.

USD being accepted in foreign markets is actually negative to local economies and hurts currency at home. The only reason it happens is that confidence in local currencies is often lower and USD is freely circulated.

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This .90 vs the USD is likely the bottom. The CB of Canada can only fight the market for so long. The CAD will return to parody or more rather soon.

I presume this error (parody) was intentional? I too for one thing that the USD could go lower considering that the US is in a financial tailspin. I'd probably look for the CDN $ to reach parity and above again at some point this year.

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Travel anywhere in the world....anywhere

Bring Canadian and US dollars, go shopping.

Report back on this thread what you were able to get with each currency.

I think that will tell you far more about where the two currencies stand then I ever could.

Just because the US dollar happens to be the reserve currency doesn't give it magical powers. The US balance of payments and debt situation is worse then any western country. It is in way worse shape then any previous reserve currency.

The Euro has been worth more then the USD for a long time now. And the Canadian dollar was worth more (2010-2013) until it was managed lower last year.

(

And speaking of shopping, the Euro is used by more people (333 million vs 313 million) then the USD.

The Eurozone is a net creditor with no trade deficit.

The Eurozone has more gold then the US (10,000 tons vs 8000)

The Eurozone is China's biggest trading partner.

Tick tock, tick tock, tick tock...

20120103_jpm_reserve.png

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