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Say, I just had a look at the Canadian dollar vs the US dollar... it's now worth 99+ cents.
My organization helps out a Canadian charity, and earlier in the year I noticed they were holding our grant checks. I asked why, and they said they were waiting for the exchange rate to get better. I advised them that a dollar Canadian would be worth more than a US dollar before the end of the year, so cash all checks asap! I'm now thinking that may happen this week. Or tomorrow?
sheesh.
So, will Canada let its money become a lot stronger than the US dollar or decide to inflate it a bit?
From what I hear the expectation seem to be Can/US $ parity in 2008 and much more within the decade. Will see in Oct if interest rate is raised or remains the same. Anyone have any idea when the other credit shoe drops, I would surly like to know that!
Well, Friday the pointy hat ladies on brooms get to make 3 or 4 calls. Oil tomorrow. If nothing else happens.
4?... sounds like inflation is in the system even on a triple witching day, or is that just another magical increase in GDP?:)
Greenish,
Prime minister Harper plays for the same team as Bush (only he's the caddie).
A better question would be: "How much independence would Canada have in defining the strength of its currency, assuming it would seek any?"
Or maybe this one: who is at this moment reaping the profits from the Canadian dollar's rise to fame? Stock exchanges are doing just fine, and I know that without even having looked for days. It's simply because there's a lot of activity.
The rate cut is killing the US dollar. Better call the undertaker, and tell him to hurry, could be any moment now, and it'll be a stinking corpse. The Fed plan works like a charm: how to gut an economy. They've done it before: South America, Africa, Russia, they know the recipe.
Canada will be buried alongside its master.
Hi ilargi,
Thanks for the nice mix of articles.
Thought I would drag this over, a sept 20 Mish article:
http://www.minyanville.com/articles/Fed-gold-oil-housing-subprime/index/...
I agree that Canada will follow the US, but then with them the rest of the world. Right now I think we should be putting cash away for a rainy day, that along with a sack of rice and a bin of beans.