Loonie Hits 3 Decade High Vs. U.S. Dollar

[Gold9472]

Loonie hits 3-decade high vs U.S. dollar

http://ca.today.reuters.com/news/new...DOLLAR-COL.XML

Thu Oct 11, 2007 4:13 AM EDT

LONDON (Reuters) - The Canadian dollar hit a three-decade high versus the U.S. dollar on Thursday as the greenback remained under broad selling pressure due to expectations of more Federal Reserve interest rate cuts.

Strong oil and commodity prices supported the currency of resource-rich Canada.

By 4:03 a.m. EDT, the U.S. dollar had fallen as low C$0.9777, moving beyond a three-decade low of C$0.9785 set last Friday.

"It's primarily dollar weakness," said Adam Cole, head of FX currency strategy at RBC Capital Markets.

"The catalyst has been stronger equity markets which points to greater risk tolerance and a move out of U.S. dollars into other currencies."

[somebigguy]

Some super power you guys are.

[Gold9472]

Who names their money after the colorful slang used to describe the people in the 9/11 Truth Movement? That's a slap in the face to the movement.

[somebigguy]

We will call our money whatever we want to call it, and we will call your money what it is: inferior.

[AuGmENTor]

Some super power you guys are.

Do you mean to tell me that you people refer to your currency as "loonies?" You have got to be kidding me! What is your coinage refered to? Retards? "That'll be 6 loonies and 43 retards sir!" HAHAHAHAHAHAHA

[somebigguy]

Do you mean to tell me that you people refer to your currency as "loonies?" You have got to be kidding me! What is your coinage refered to? Retards? "That'll be 6 loonies and 43 retards sir!" HAHAHAHAHAHAHA

Yup, and for 3 of your dollars, I will gladly give you 2 of my loonies!!

[AuGmENTor]

I just don't get it... Back in the day, when buying things like magazines or paperback books, I remember Canada having a price of a few dollars more than the dollar vaulue. In the eighties people told me a pack of smokes in Canada was like 6 or seven bux (which at the time seemed impossible to me)> ANd NOW your money is worth MORE? In a few decades? How did THAT happen?

[somebigguy]

I just don't get it... Back in the day, when buying things like magazines or paperback books, I remember Canada having a price of a few dollars more than the dollar vaulue. In the eighties people told me a pack of smokes in Canada was like 6 or seven bux (which at the time seemed impossible to me)> ANd NOW your money is worth MORE? In a few decades? How did THAT happen?

Its called currency manipulation!! I'm betting the two currencies will stay relatively on par until the next "terrorist attack" at which time they will usher in the North American Union and one common currency. Just like Robert Pastor said would happen.

http://www.vivelecanada.ca/article.p...70408135904324

[simuvac]

Does anyone here know enough about economics to say if the weakening of the dollar could be used to hide massive losses and/or economic collapse? That is, it's obvious the government can't repay the debt. Can it simply push "restart" and reboot the currency, by switching to the Amero? Does that somehow erase some debt? Or, maybe more specifically, who gains financially when a currency "transformation" happens, and how?

Just wondering.

[AuGmENTor]

Does anyone here know enough about economics to say if the weakening of the dollar could be used to hide massive losses and/or economic collapse? That is, it's obvious the government can't repay the debt. Can it simply push "restart" and reboot the currency, by switching to the Amero? Does that somehow erase some debt? Or, maybe more specifically, who gains financially when a currency "transformation" happens, and how?

Just wondering.

Not me, but the idea makes sense. They can't just erase it though, can they? But if they had a currency worth more, wouldn't it take less to pay it off?