The Canadian dollar breached the $1.0614 level -- an incredible 130-year high. Not since the 1870s has one U.S. dollar bought so little north of the border.
And frankly, comparing the Canadian currency of 1870 to today’s is a little silly. Back then was the high point of the Victorian empire in Britain. The reserve currency of the world was the British pound. Canada was a vassal in the crown’s extensive trading empire… all the queen’s currencies were backed by the Victorian era gold standard.
So mark your calendar. Never have the free Canadians to our North had so much to hold over the U.S.’s head as they do today. Cheers, eh?
And frankly, comparing the Canadian currency of 1870 to today’s is a little silly. Back then was the high point of the Victorian empire in Britain. The reserve currency of the world was the British pound. Canada was a vassal in the crown’s extensive trading empire… all the queen’s currencies were backed by the Victorian era gold standard.
So mark your calendar. Never have the free Canadians to our North had so much to hold over the U.S.’s head as they do today. Cheers, eh?
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