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xe.com is telling me nonsense again. This can't be.
Seriously, what do you expect will end up happening? My friend says that if the countries that are backing the USD and causing it to have its value pull out, the USD value will crash.
I learned in the school that we have methods to prevent currency crash, but those lessons do not presume the events of the past 6 years happening. Is it all scare tactics?
I expect that the Dollar will become weaker and that eventually interest rates in the US will sky rocket like they did in the late 70s and early 80s to combat inflation and spending.
Right now the debt of the US is so high with no signs of stopping which has been making the dollar weaker.
I expect that if this keeps up then the Euro will replace the dollar as the dominate currency of choice in a few years if not sooner. The US has got to get spending under control and in order to do that I think it needs to become more of an isolationist country again like it was before the world wars. Right now the US is too involved everywhere when it doesn't need to be.
I heard the other day that the US wants to like, fuse the Mexican, Canadian and US dollar to make a Euro type currency that is used throughout all of North America, this was predicted on the news here 2 months or so ago. The Canadian dollar would keep going up, pass the US dollar, and soon there after the US would push for a joint currency, and that is what has happened.
All that will do is noob up the canadian dollar.Quote:
Originally Posted by Chaos Is the Key
Also I have a hard time comprehending what the title's ratio means. If the cdn dollar is worth more than the usd, doesn't that mean that the usd fell? I tend to think of it as that.
I have something like £30 I'm holding on to so as to survive in the coming doomtimes.
The fall of the US dollar isn't likely to continue indefinitely, at least not in relation to the Canadian dollar. The US is still the largest consumer market in the world and will remain that way for some time. In the meantime, a high Canadian dollar hurts the Canadian economy. I doubt they'll stay at parity, though any fall will likely be gradual just like the rise of the Canadian dollar has been (people were complaining about it rising above $0.70 USD about five years ago). I doubt it will ever get into the high 50-low 60 cent range anytime soon again. More likely it will level off in the 80 cent range. In the long run though, a high dollar is going to help the Canadian economy. We've spent too many years relying on a low dollar to remain competitive in the US marketplace, and companies obviously can't rely on that anymore.
The US dollar has fallen over the years for various reasons. Infastructure leaving, over-spending on war efforts, infuxuation of illegal immigrants. A fun fact: In ten years, if current trends continue, over half the population of America will be Mexican.Quote:
Originally Posted by Pureghetto
The Canadian dollar has risen dramatically and factoring in the decline of the American dollar has created this. Mexico is up for a common currency but the Canadian government would be retarded to accept this notion without our rapidly growing economy. A fun fact; each day at least a piece of a foreign countries gold goes into Fort Knox. I think I heard America is close to 3 trillion dollars in deficit. Wow. That alone is cause for alarm with a falling dollar.
Canada exports many, many things and we have the most abundant natural resources in the world - fresh water, lumber, fish (though declining); oil in Alberta and Northern Canada; nickel, copper, diamond, gold and many other materials. Though we still have many problems economically we're becoming richer and with hope it will be sorted out in the coming years. Our debt is about 650 million and we should be cleared out. Alberts is in the middle of a boom and is completely out of deficit as a province, McDonald's employees are making fourteen dollars an hour because the cost of living is so high - 80 percent of the population is in the work force and with a wealth of oil has a prosperous future.
The main problem with the United States and their dollar is what do they actually have as a country? They hardly have the natural resources to sustain themselves let enough to sell and make money from. Corporations have moved to other countries to cut costs, foreign companies are all threats due to free trade. As a country America has over consumed from most respects and is now going to feel it over time.
Let's hope you guys can elect a competant president next time and do yourselves and the rest of the world a favour. Looking at George Bush and what he's done over his consecutive terms in office...doesn't it make you want Bill and the sex scandal to return? That was a huge deal and now seems silly in comparasion. So the guy smurfed around on his wife at least he could do a decent job at running a country.
lol that reminds me of when the millenium was coming up...my dad saved a nice crisp 50 dollar bill each month and put it in a fireproof strongbox, just incase the world turned mad maxQuote:
Originally Posted by rubah
i think he bough a new gun with it when nothing happened.
The US is actually $10.04 trillion in debt, which is a far shot from 3 trillion.
To be fair he did say deficit which is not the same thing as our debt load >.>Quote:
Originally Posted by Chaos Is the Key
Thanks Bush. Clinton got us on the right track and started to pay off our debt and then you go and more than double it. You are the worst conservative ever!
Proof.Quote:
Originally Posted by Chaos Is the Key
I find it ironic how prior to the Canadian dollar gaining strength the Americans didn't want to merge the dollar, but now... we'll probably hold out.
Mainly I think we'll hold out because our GDP relies on our exports including oil, wood and fresh water... we currently supply something like 75% of the US's fresh water.
Re: Proof
Sauce: Government - Schedules of Federal Debt – Daily, UnauditedQuote:
The United States public debt, commonly called the national debt, gross federal debt or U.S. government debt, is the amount of money owed by the United States federal government to creditors who hold U.S. Debt Instruments. As of September 2007, the total U.S. federal public debt was $5.6 trillion. [1]