Oh Canada!
Monday, July 09, 2007
I saw this story
The Canadian dollar climbed to a 30-year high against the U.S. currency Friday, bolstered by higher oil prices, a strong economy, and a looming interest rate hike.
Canada's currency advanced as high as 95.53 U.S. cents Friday, pushing past the 95 U.S. cents mark for the first time since May 1977. It has risen 10.8 percent so far this year.
I was 14 in 1958 when my parents, my sister and I vacationed in Canada. We took the ferry over to Victoria. I was feeling slightly embarrassed because I had a zit on my left temple the size of a pea, that I thought everyone could see it and were staring at me. For some reason this is a vivid today as it was almost 50 years ago. I also remember the Canuck Buck was 1.08 to the dollar at the time! We went from 1.08 over the next 20 or 30 years to a low of .65 to the dollar and stores here would not accept Canadian currency. What a change. I have to believe it is not the government of Canada that has yielded this fortune to Canadians, but the value of the county's natural resources has increased. They support the U.S. in many of our global adventures, but are much more isolationist. There may be many reasons of which I am unaware, however that's a big change in the value of their currency.
I saw this story
The Canadian dollar climbed to a 30-year high against the U.S. currency Friday, bolstered by higher oil prices, a strong economy, and a looming interest rate hike.
Canada's currency advanced as high as 95.53 U.S. cents Friday, pushing past the 95 U.S. cents mark for the first time since May 1977. It has risen 10.8 percent so far this year.
I was 14 in 1958 when my parents, my sister and I vacationed in Canada. We took the ferry over to Victoria. I was feeling slightly embarrassed because I had a zit on my left temple the size of a pea, that I thought everyone could see it and were staring at me. For some reason this is a vivid today as it was almost 50 years ago. I also remember the Canuck Buck was 1.08 to the dollar at the time! We went from 1.08 over the next 20 or 30 years to a low of .65 to the dollar and stores here would not accept Canadian currency. What a change. I have to believe it is not the government of Canada that has yielded this fortune to Canadians, but the value of the county's natural resources has increased. They support the U.S. in many of our global adventures, but are much more isolationist. There may be many reasons of which I am unaware, however that's a big change in the value of their currency.
{I'll add that the Canada's "Loonie" has become a proxy for the USD and now are even. This is by design to pave the way for the AMERO to replace them and the Peso for the NAU~ Ed.SOC)
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