US exchange rate to CDN

[Irish31]

Stay away from the US dollar, at least as a "safe haven" from other currencies, as it is extremely flawed. The fundementals of the US economy are essentially toxic, and all the money printing that is going on help prop up what is left of the economy is going to have an inflationary impact eventually.

Inflation is the increase in the money supply, so eventually the Fed is going to hit that point of no return with the US government, where the prices of real assets will raise against the paper dollar. This is the danger with fiat currencies. Once this starts to happen, no amount of dollar infusion is going to be able to paper over their issues.

All of the big banks in the US have asset sheets completely filled with toxic assets, MBS, millions of loans on homes that are now worth anywhere from 10-70% less then than the loan itself, and it goes on from there. Also now consider that the US government, in an attempt to stop a complete housing collpase, is now co-signing all mortgages, hoping this will entice more lending from the banks and will remove tension from the buyer as well.

The part most people don't realize is when the government is guaranteeing these loans, they are essentially forcing the US tax payer, all of them, to co-sign for someone elses mortgage. This is not what you want the government doing, since they are just "guaranteeing" these loans with money they have the Fed print out of thin air, and swap for securities (IOU's) with a nominal yield.

Basically, they are in such debt that it is unlikely they will ever get out of it. At this point I believe they will eventually have to default. By 2015, upwards of 39% of all tax income will have to go towards the interest on outstanding loans with foriegn creditors. That is simply unsustainable. Oh ya, and their debt/GDP ratio is over 100% now. I could go on and on with factual information that points out just how flawed the economy is there, but i'll let you come to your own conclusions.

I would not hold any USD paper money. America is the biggest debtor nation in the world, has a very combustable situaiton with the biggest creditor nation in the world (China), in which they are doomed to be the losers when all is said and done, and they have a horrific trade deficit which simply adds to the daily expenses of running what is essentially a service based economy.

Stay Away.

[whitebark]

I get all warm inside when others actually know how our money system actually works. Fiat money is a dead end as all new money is created as debt.

Back to oil - China now buys more Middle East oil than the US does. It won't be long before the same happens here - add in India and the future of Canada's energy sector looks great.

[TheLegendaryJP]

Not since shortly after the end of the second world war has any country stood a chance with supplying cheaper oil than the middle east, Canada will never be an alternative. I am not sure why you think our sector is great when in fact it is NOT, we are NOT efficient at all and ONLY keep doing business because of political reasons.

The oil sands are a flop!

And I agree with Jason, and as I mentioned earlier our curreny along with the USD is NOT a security of any kind. Personally I wont think its long before we truly do have a one world order/monetary system.

Take the below into consideration....


Top Ten Oil Exporting Countries
•Saudi Arabia (8.73 million barrels per day)
•Russia (6.67)
•Norway (2.91)
•Iran (2.55)
•Venezuela (2.36)
•United Arab Emirates (2.33)
•Kuwait (2.20)
•Nigeria (2.19)
•Mexico (1.80)
•Algeria (1.68)

Wait a second I thought Canada was such a great source and supplier of oil and after all we have so much...


Greatest Oil Reserves by Country (2005)
•Saudi Arabia (262 billion barrels)
•Canada (179)
•Iran (126)
•Iraq (115)
•Kuwait (102)
•United Arab Emirates (98)
•Venezuela (77)
•Russia (60)
•Libya (39)
•Nigeria (35)


Look at that we do have a bunch but oh ya it doesnt matter how much of something you have when you are too expensive. Like I said above thinking our energy sector is great and has a bright future is only a reality should Russia and the entire middle east decide to have a massive war..WITH US and our allies in europe,. not such a win win situation lol. It also hurts the biggest importers apart from the US are not what you would call " friends " .

Im sorry but if the US goes down, Canada goes down, Europe and so on and so on... there is no " real " shelter. That is why a single monetary system will evolve... I bet

[Belzibut]

You better start learning Chinese son!

[TheLegendaryJP]

You better start learning Chinese son!

Youre right I need to ..

1. Learn Chinese
2. Become Muslim
3. Buy gold
4. Learn how to break gold into pieces
5. Be forced to submit or die


That pretty much may be what 2050 looks like.

[msn]

Look at his Avatar, he's definitely a porn star! j/k

If anything, it would show someone has lost their shirt - but it is not me in the picture.

---------- Post added at 12:13 PM ---------- Previous post was at 12:04 PM ----------

That is why a single monetary system will evolve...

As the Europeans are now learning, thanks to the Greeks, it is quite hard to have a single currency if you do not also have then a single financial system. If you want one currency, you will want a single finance department and quite possibly a single revenue as well. Otherwise, when someone drives the finances of one country off of a cliff, that nation will need to go through a decade or so of deflation to correct matters.

Ireland has cut public sector wages by 10% and more, because they also got burnt.

For Canada, the current government could really make things get really bad because they all seem to be a bunch of 'cino's.

[whitebark]

I leave this Wednesday for the Southern states to buy a vacation home - here's to hoping the Canadian dollar keeps on going up and US home prices keep on falling! They can't get much lower than they are now!

[Namefox]

Congrats Roy. This works to your advantage for sure. If you need anything before you go, let me know. As for currency, I am really liking the Canadian Tire dollar ;-)

I also got an email from Google saying they made a mistake in converting from US in CDN.

[whitebark]

Congrats Roy. This works to your advantage for sure. If you need anything before you go, let me know. As for currency, I am really liking the Canadian Tire dollar ;-)

I also got an email from Google saying they made a mistake in converting from US in CDN.

Thanks! Just two more days! And after the weather we had today it won't come soon enough.

I think every Canadian publisher lost the 7+% on the exchange.
http://www.google.com/support/forum/...f26a20e4&hl=en

[Namefox]

Looks like they are going to fix it. Pain in the arse for all involved.

[whitebark]

Well it went over a buck today. Couldn't be happier sitting here typing this in beautiful sunny Arizona...

[Banned: theinvestor]

What happened to 1.10 by this summer? Not even close.

I told you it would be better holding USD.

[RTM.net]

Our servers are primarily in US datacentres (and even our European and PacRim DC providers charge in USD) so it's a double-edged sword. Lower costs for Hosting, but our revenues are also primarily in USD so...

Yes, USD is still the primary global currency, especially in the business of IT / hosting / domaining.

IMHO,

Rob

[hugegrowth]

The rally sort of fizzled out, I think it will hang out in this range for a while.