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BS: Low US dollar, high Canadian dollar...
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: Bee Date: 06 Nov 07 - 12:51 PM I dunno. I kinda like LH's reform suggestions. Couldn't do much worse than y'all have been, votin'. |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: Donuel Date: 06 Nov 07 - 02:27 PM the $ is bottoming out in world markets today big time but our stock market is pretending it is not happening. Recession is now being discussed in the media as a little short term 1 year event. ha |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: Jim Lad Date: 06 Nov 07 - 06:01 PM Wow! $1.09. The Canadian Dollar has shot up 2 cents in one day! |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: bobad Date: 06 Nov 07 - 06:12 PM When all the trees have been cut down, when all the animals have been hunted, when all the waters are polluted, when all the air is unsafe to breathe, only then will you discover you cannot eat money. Cree Prophecy |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: Little Hawk Date: 06 Nov 07 - 06:17 PM No, but you can use the money to pay your hired guns to go and kill someone else and steal all his food and resources... And that is what empires do when they are feeling the strain of an overly profligate lifestyle. |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: number 6 Date: 06 Nov 07 - 06:48 PM Geeeeeeez. Does this mean we won't have access to the internet ... so we can't sit in front of some computer monitor wasting time away? now ... back to the subject of this thread .... "Wow! $1.09" whooo weee ... at this rate we will certainly be heading over to Calais Maine to do our grocery shoppin' at good 'ol Hannafords on Saturday. biLL |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: Little Hawk Date: 06 Nov 07 - 10:35 PM OUCH! This situation is truly getting out of hand. |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: Q (Frank Staplin) Date: 06 Nov 07 - 10:53 PM At one time in the 1950s, it took $1.10 US to buy a Canadian dollar. Then it went down and stayed down. Slow revenge! |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: Beer Date: 07 Nov 07 - 09:20 AM And this morning it is over a $1.10 I'm about a half hour from the border and just may head over. Beer (adrien) |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: Little Hawk Date: 07 Nov 07 - 09:57 AM Oh, shit. It's $1.10 now, as you say. |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: Jim Lad Date: 07 Nov 07 - 11:10 AM Back down to $1.09 but this is uncharted territory. If you are not locked in with your mortgage, do it now while interest rates are reasonably low. If your in The States & holding a wee pension, RRSP fund or nest egg in Canada, cash in! |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: DougR Date: 07 Nov 07 - 03:37 PM The low value of the dollar may be good news for citizens of other countries who wish to by American goods at lost cost than in their own country, but it will likely play hell with the tourist industry in those countries. I know we will not return to countries that use the British Pound or Euro until the dollar's value is improved. DougR |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: Riginslinger Date: 07 Nov 07 - 04:58 PM George W. Bush might have single handedly destroyed America by listening to Dick Cheney. |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: Little Hawk Date: 07 Nov 07 - 06:48 PM It is indeed playing hell with the tourist industry in Canada, Doug. But this is only the beginning. It's the early symptoms of a major financial problem for the whole world, I think. |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: Rapparee Date: 07 Nov 07 - 09:53 PM Well, I hope not. But I'm "keeping my powder" dry. Even one bad year could screw things up pretty bad l y. |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: number 6 Date: 08 Nov 07 - 11:57 AM All I can really, honestly say over this economic debacle is that I'm glad we didn't buy that Christmas tree farm back in 2003. Whew, I shudder at the thought. biLL |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: gnu Date: 08 Nov 07 - 06:20 PM Did I read that the BOC was considering REDUCING interst rates? Can't find it now. |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: GUEST,dianavan Date: 09 Nov 07 - 01:47 AM does this mean I should be buying U.S. dollars? |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: gnu Date: 09 Nov 07 - 05:35 AM Re that LL Bean catalogue in our local paper... "Free shipping on all Canadian orders." |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: number 6 Date: 15 Nov 07 - 06:49 PM An article of interest (from the CBC) slightly relevant to this tired old thread. The catered life of the American consumer biLL |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: Little Hawk Date: 16 Nov 07 - 04:23 PM Good article, Bill. Some quotes from it: "Washington essentially prints the world's money and has since the end of the Second World War. All internationally traded commodities, most importantly oil, are priced in U.S. dollars. "It gives the U.S. a huge privilege," says Prestowitz. "It means that Americans can buy and borrow in their own currency. So whereas you in Canada, if you want to buy a Toyota, you have to sell something to get U.S. dollars and then you go buy a Toyota. In America all we do is just print dollars and send the paper to Japan and we get the Toyota." "the weak dollar up to now has had more benefit than it has harmed the U.S. economy." "So, what should be bad news for America winds up being bad news for just about everybody else instead. The rest of the world's foreign currency reserves, mostly held in U.S. dollars, are suddenly worth less, and foreign manufacturers now have to compete against cheaper U.S. exports. The combination drives other countries crazy. A frustrated French President Nicolas Sarkozy told Congress last week that if the U.S. government doesn't do something about the falling dollar, it risks "economic war." This is what I've been saying. It's very rough on Canada having a currency that is now stronger than the US currency. It doesn't help Canadians one bit, unless you are a consumer who is buying goods directly from the USA, and that doesn't help Canada...it impoverishes Canada in the long run, because our money flows out of the country. Thank God, the Canadian dollar is now coming down some, it seems. |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: gnu Date: 19 Nov 07 - 05:00 PM Oh wow man, this is getting serious! |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: Little Hawk Date: 19 Nov 07 - 05:20 PM Yeah, eh? ;-) Well, things are looking a bit better. I got 96 and a half cents Canadian for my US dollars today...instead of 92 cents, like last week. That's an improvement. Let's hope it continues. |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: GUEST,petr Date: 19 Nov 07 - 08:09 PM and in the US some places charge 15% exchange fee if you pay in Canadian dollars.. (I wonder if the vending machines still reject canadian coins) |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: Little Hawk Date: 19 Nov 07 - 08:37 PM 15 per cent???????????? What nerve! The banks here charge a 2 or 3 per cent fee for the privilege of changing US dollars into Canadian or vice versa (quite aside from applying the current exchange rate itself, I mean). Why do they do that? Because they can...and all they need to do is push a button on a keyboard. Presto! Ka-ching! More money for the bank. |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: GUEST,dianavan Date: 20 Nov 07 - 02:26 AM OPEC is not too happy about the low U.S. dollar, either. "A lower dollar means less income for the oil countries who compensate by raising the price." http://www.radionetherlands.nl/currentaffairs/071119-opec-oil-price |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: Little Hawk Date: 20 Nov 07 - 02:31 AM No, they're not. They might think about pricing their oil in Euros instead...but Iraq tried that idea in 2002 and look what happened to Iraq not too long afterward... |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: GUEST,petr Date: 20 Nov 07 - 04:03 PM the key thing to note is that after the failure of the bretton woods international monetary management system in which currencies were pegged to the US dollar and it in turn was backed by gold. At the end of WWII the US had 80% of the worlds gold reserves so this worked out well at the time (along with oil production, manufacturing and investment capital reserves) and needed to expand trade. The reason it was backed by gold was that to avoid the experience of the 30s when nations devalued currencies and imposed high tariffs to be competitive. However by the late 60s there gold outflows from the US increased and there was increased debt and inflation due to the cost of the Vietnam war so Nixon unilaterally canceled the Bretton woods system and stopped the convertibility of the US $ to gold. But around the same time the US got the Saudis to agree to trade oil in US $.. |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: Little Hawk Date: 20 Nov 07 - 06:41 PM Yes, petr, those were key moves. The greatest weapon in international power plays is money...because money buys all the other forms of weaponry. He who has the controlling currency dominates the world. He whose currency oil is pegged to has enormous influence, and the American government fears greatly to lose that position. The day the US dollar was no longer backed by gold was the day on which it began to lose real value and become just a symbolic piece of paper. That happened because the USA had international debts it could not pay. The situation has gotten a lot worse since then. Foreign wars and the USA's overextension in those foreign wars have destroyed the USA's financial health, beginning with the debacle in Vietnam. The adventures in Afghanistan and Iraq have greatly worsened that situation. War consumes and exhausts a country's real wealth while destroying another country's real wealth! This has been done by many other empires in the past, and it always proves to be their downfall in the end. They bankrupt themselves by overplaying the game of war. War, whenever it is fought by choice, as is the case with any "pre-emptive" attack, is simply an attempt to force other people to do something they don't want to do...or to give up something that is theirs. It's armed robbery. Wonderful excuses are always trotted out to justify it. The "enemy" of the moment is not fooled by those excuses, but most of the people in the empire of the moment are fooled...for awhile. |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: GUEST,petr Date: 20 Nov 07 - 08:10 PM well the wiki article I linked to above, discusses the issue fairly well without too much bias.. Basically the US was willing and able to assume a postwar leadership role, and it needed open markets to trade with in Europe. Britain France and the rest of Europe and Japan were devastated and had no choice anyway and were willing to tolerate US hegemony in exchange for security during the cold war. And of course when the scheme of things no longer suited US interests they dropped the gold standard.. although by having oil bought and sold in US dollars has given it an unfair advantage the last 20years. (since when the dollar loses value - the others holding US reserves and Treasury bills also lose. That can only go on for so long. Remember Cheney's comment that 'Reagan proved deficits don't matter' well they do.. oh and DOugr.. the point on Americans not going to countries that use Euros kind of cuts both ways.. Now those foreigners can get a deal on overpriced US real estate... |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: number 6 Date: 20 Nov 07 - 08:17 PM slick ... good to see ya Rudy. biLL |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: Little Hawk Date: 20 Nov 07 - 09:50 PM Yup. Remember 911. An attack on America...but by whom? Not by any country. Not by any government. Not by any government's armed forces. Certainly not by Iraq or Afghanistan. It was an attack planned and carried out by a secret group of conspirators. We may know who some of them are or were. We may not know who some of them are or were. We probably don't know who most of them are or were. Such attacks by secret groups of conspirators are an international police matter, not a military matter. It is not appropriate to respond to such an attack by invading a country which did not launch the attack...regardless of whether or not you think that some of the people involved in planning the attack are living or hiding in that country. They are not the government of that country, and they do not represent it or its general population. Many of the people assumed to have been involved in the 911 attack were Saudis. Why, then, has the USA not used the same bizarrely flawed logic it used to invade Afghanistan...and invaded Saudi Arabia? I'll tell you why. Because of money. Because they did not invade Afghanistan over 911. 911 was the propaganda excuse for that invasion, which had major strategic purposes with regard to Russia and the Middle East and the oil-producing Caspian regions. And they did not invade Iraq in 2003 over either 911 or WMDs. They invaded Iraq over oil, primarily, over petrodollars, and over the desire to have permanent military bases in that region for future strategic purposes of a warlike sort. Staging grounds for the next war. So, yeah...remember 911...the attack by various mysterious conspirators, known and unknown, which was then falsely used to justify 2 unprovoked wars of aggression against 2 small countries and governments that did NOT attack America...and never had even the ability or the intention to attack America. Who has paid the price of those 2 wars of aggression? Americans...and the populations of Iraq and Afghanistan...and some soldiers and civilians from a few other places. Boy, have they paid!!! A million people may have died by now as a result of those 2 wars, most of them being ordinary Iraqis and Afghans who just happened to be unlucky enough to be living there. How many of the real 911 conspirators have paid the price? Not even half of them, I would bet. Probably a lot less than half of them. Where do they live? Maybe closer to home than some of you might think. |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: number 6 Date: 21 Nov 07 - 07:36 PM Looks like 9/11 Rudy (Guest: slick)cheesed outta here pretty fast. Oh well .... certainly no loss. biLL |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: Little Hawk Date: 21 Nov 07 - 10:03 PM The Canadian dollar went down again today...it's only worth $1.01 American now. AWRIGHT!!!! Things are looking more reasonable now. |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: number 6 Date: 21 Nov 07 - 10:25 PM That's good LH ... guess it keeps the repo man from putting the padlock on your export business door. biLL |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: Little Hawk Date: 21 Nov 07 - 11:05 PM It definitely helps. |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: GUEST,number 6 Date: 23 Oct 08 - 11:34 AM Well ... one year later.... $.7598 one Canadian Loonie to $1.00 Yankee greenback. biLL |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: Riginslinger Date: 23 Oct 08 - 11:39 AM That Harper guy better get busy. If he's a true conservative, he sould be driving the Canadian dollar down. |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: GUEST,number 6 Date: 23 Oct 08 - 11:42 AM He already is ! |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: Little Hawk Date: 23 Oct 08 - 12:38 PM Yes, thank God, the Canadian dollar has finally more or less come back down to what I would consider a "normal" level in regards to the US dollar. This is good for Canadian exporters, and it means less across-the-border purchasing by Canadians and more buying at home in Canada. |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: GUEST,number 6 Date: 23 Oct 08 - 12:55 PM I thought you'd be happy L.H. good for some businesses here in N.B. too. biLL |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: gnu Date: 23 Oct 08 - 01:17 PM Yes, indeed... join me in a celebratory toast LH! Unfortunately, whereas you deal in solid goods, I deal in the brain trade and once you lose a customer, it's pretty hard to get them back. |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: GUEST,number 6 Date: 23 Oct 08 - 01:26 PM The down turn is ... some goods will be going up in price for us Canucks. biLL |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: Little Hawk Date: 23 Oct 08 - 01:28 PM Yup, there's always that aspect. It's like a teeter totter. |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: gnu Date: 23 Oct 08 - 01:51 PM Yup... I was AGAIN shocked when I took Mum out for Walkies at the grocery stores today... instead of a fall with the price of crude, some stuff is still going up. I can't imagine how young families and elderly are making ends meet. Of course, it's comforting to know that our troops in Afghanistan have made record distance sniper shots... so far away that one wonders how the sniper knew that person was a threat to Canada. |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: Little Hawk Date: 23 Oct 08 - 02:53 PM We're a threat to them. They are no threat to us...unless we send our people there to get shot at. |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: Ed T Date: 23 Oct 08 - 03:13 PM The fall was mostly likly due to political lobbying to the Canadian ruling folks... from the companies with preprinted Canada-USA prices on their prdoucts, like greeting cards at Carleton and Hallmark Cards. I suspect they have warehouses full of Christmas cards with $3.99 US, $6.99 Canada marked on "em from the (around) 60 cent Canadian dollar period:) Soon they will be able to bring 'em out again. |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: GUEST,number 6 Date: 23 Oct 08 - 04:23 PM Very good Ed ... LOL gnu ... "so far away that one wonders how the sniper knew that person was a threat to Canada." ... it's the shoes they wear .... they scope in on the feet ... if they're wearing high priced sports shoes, they're the enemy. biLL :) |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: gnu Date: 23 Oct 08 - 06:09 PM Or just new, expensive ones? Like the finance minister on budget eve? |
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Subject: RE: BS: Low US dollar, high Canadian dollar... From: Bee-dubya-ell Date: 23 Oct 08 - 06:42 PM It's expected that the current strength of the US dollar relative to other currencies will be short-lived. The dollar's rise in value is largely a result of heavy purchasing of US treasury bonds by foreign investors. The US economy may be as deeply in the toilet as any other country's, but the US government is not going to go bankrupt. Its bonds are still a very safe, if low yield, place for investors to park their money until stock markets improve. When that happens, expect the dollar to go down in value again. |
