1.00 CAD = 0.999310 USD

Mex wrote:

The crap thing is that the Peso is tied to the dollar value. So if you're declining, we're going further down the drain... =P

Chinese, too. Oh, well. Things go up and then they go down. It's a drag for me because NYC becomes so cheap for Europeans to come visit, and they're bound to drive the prices up for those us getting paid in dollars.

The good thing is, we've invested a trillion or so into making Iraq the tourist capital of the world. And once all those American-built hotels and casinos open up in Baghdad next year, the fat oil money is going to be rolling in for us. We'll make it all back, baby! (I mean, that is the plan, right?)

Ditto that, as soon as the dollar closes above $1.10 I'm going shoppin' online like a madman.

scrub wrote:

Ditto that, as soon as the dollar closes above $1.10 I'm going shoppin' online like a madman.

I know several businessmen who will throw themselves off a building when / if that happens =P

China diversifying it's holdings is just the beginning, I think. The Chinese comments in that article are alarming.

If you're an institutional investor, are you going to keep your assets in a currency that's depreciating faster then your investments are growing?

US unfortunately, has to keep it's interest rate low and continue to lower them to keep hundreds of billions of dollars worth of subprime mortgage holders from going tilt and creating another huge round of subprime market mayhem.

Low interest environment + insane government overspending (putting money that doesn't exist into the economy thereby diluting the dollar) + huge trade deficits (money leaving the country - selling US dollars to purchase goods from other countries in other currencies) wouldn't get me very excited about investing in US dollar based equities when there's no end in sight for any of the currency's problems.

Well, this is great...

http://www.currencytrading.net/2007/...

It's no secret that the dollar is on a downward spiral. Its value is dropping, and the Fed isn't doing a whole lot to change that. As a result, a number of countries are considering a shift away from the dollar to preserve their assets. These are seven of the countries currently considering a move from the dollar, and how they'll have an effect on its value and the US economy.
Saudi Arabia: The Telegraph reports that for the first time, Saudi Arabia has refused to cut interest rates along with the US Federal Reserve. This is seen as a signal that a break from the dollar currency peg is imminent. The kingdom is taking "appropriate measures" to protect itself from letting the dollar cause problems for their own economy. They're concerned about the threat of inflation and don't want to deal with "recessionary conditions" in the US. Hans Redeker of BNP Paribas believes this creates a "very dangerous situation for the dollar," as Saudi Arabia alone has management of $800 billion. Experts fear that a break from the dollar in Saudi Arabia could set off a "stampede" from the dollar in the Middle East, a region that manages $3,500 billion.

Yowch.

There's 6 others, and a not too bright conclusion.

Mex wrote:

There's 6 others, and a not too bright conclusion.

Well, it's worth keeping in mind that these are government ministers in these respective countries are trying to guesswhich currency will appreciate in coming years. Government ministers across the world, and highly experienced currency traders, too, often make the wrong call when trying to predict the future.

What's killing me personally is the energy. I can buy domestic wines, cheeses, electronics, clothes, CDs, services- but I can't buy domestic oil.

Funkenpants wrote:

What's killing me personally is the energy. I can buy domestic wines, cheeses, electronics, clothes, CDs, services- but I can't buy domestic oil.

Get a horse!

Mex wrote:
Rat Boy wrote:

You know it's getting bad when sexy people turn their backs on the dollar.

Well, that's interesting...

The crap thing is that the Peso is tied to the dollar value. So if you're declining, we're going further down the drain... =P

Time to host an S&T so we can infuse your market with more cash!

wordsmythe wrote:

Time to host an S&T so we can infuse your market with more cash!

Hey buddy, I know exactly what you want to infuse me with.

... Ok, but it'd be my first time, be gentle

wordsmythe wrote:

Get a horse!

It won't fit in my furnace. Daddy needs his home heating oil, man. I'm COLD!!

I say the U.S. should just adopt the Loonie. Then if we're lucky, we'll do the same thing to it that we did to our dollar and we'll both be even.

Problem Solved.