[Novus]

The Canadian dollar that is.
$this->bbcode_second_pass_quote('CTV', ' ')Canadian dollar tops 90 cents US CTV.ca News Staff:
The Canadian dollar topped 90 cents US when it opened in international trading Tuesday -- its highest level in nearly 30 years. For the first time since Nov. 1977, the loonie surpassed the 90-cent barrier and opened at 90.13 cents -- up 0.30 of a cent from Monday's close. The soaring dollar has prompted Canadian travellers to book vacations to the U.S. -- particularly Florida -- in record numbers, travel agents say.

[PolestaR]

$this->bbcode_second_pass_quote('Novus', 'T')he Canadian dollar that is. $this->bbcode_second_pass_quote('CTV', ' ')Canadian dollar tops 90 cents US CTV.ca News Staff: The Canadian dollar topped 90 cents US when it opened in international trading Tuesday -- its highest level in nearly 30 years. For the first time since Nov. 1977, the loonie surpassed the 90-cent barrier and opened at 90.13 cents -- up 0.30 of a cent from Monday's close. The soaring dollar has prompted Canadian travellers to book vacations to the U.S. -- particularly Florida -- in record numbers, travel agents say.

[Pretorian]

$this->bbcode_second_pass_quote('Novus', 'I')n terms of oil and natural gas Canada is the US's largest importer and that will NEVER change.

[Cobra_Strike]

Next announcement, US annexes Canada....and Mexico for labor. Life goes on as before....

[rogerhb]

$this->bbcode_second_pass_quote('PolestaR', 'T')he US dollar is also sinking quick in Australia. Hopefully this is just a small bump which will correct itself. Don't know if the money I have in US banks is ready for the dollar collapse yet.

[ohanian]

[web]http://www.canada.com/nationalpost/financialpost/story.html?id=01d636a0-27e2-44a6-8330-444158699dfa[/web]

[seahorse]

About 2 years ago now, CIBC had a report which "warned" that the loonie could become the world's reserve currency due to its stable democratic government and of course, its vast resources. Sorry, its been so long ago, I won't be able to find the link. Its on this site somewhere.

[FoxV]

$this->bbcode_second_pass_quote('seahorse', 'A')bout 2 years ago now, CIBC had a report which "warned" that the loonie could become the world's reserve currency due to its stable democratic government and of course, its vast resources.

[oil4u]

The Canadian dollar continued its march towards parity with the U.S. greenback on Thursday as it gained more than a cent to hit 99.99 cents US.

The loonie has not been at parity with its U.S. counterpart since November 1976.

www.cbc.ca

[Morpheus]

Ohanian - I was informed yesterday that we are not suppose to post links with no comments or other by Aaron.

to the point - this is a sure sign that the value of the U.S. dollar is dwindling in the eyes of currency traders, investors and countries holding the dollar as a reserve currency although I agree that the loon is not going to be the reserve currency anytime soon.

[zoidberg]

[url=http://www.businessweek.com/ap/financialnews/D8RPED081.htm]
Canadian dollar at parity with greenback
[/url]

I'm heading over the border soon! Keep them American malls stocked the Canucks are coming!

[Blacksmith]

Interesting point on lumber, prehaps we should consider an export tax on lumber, and let the y'alls scream about free trade and bring us to the World Trade Organization.

[MOCKBA]

$this->bbcode_second_pass_quote('zoidberg', 'I')'m heading over the border soon! Keep them American malls stocked the Canucks are coming!

[Euric]

$this->bbcode_second_pass_quote('MOCKBA', '')$this->bbcode_second_pass_quote('zoidberg', 'I')'m heading over the border soon! Keep them American malls stocked the Canucks are coming!

[MOCKBA]

$this->bbcode_second_pass_quote('Euric', 'C')anada can prevent the loss of tax revenue and sales to local shops simply by taxing all the goods people bring back at the border.

[Cabrone]

At the moment the CAD isn't big enough to be anywhere near a reserve currency but in the decades ahead it may well be.

With large parts of the US predicted to dry up there is going to be some large migration north, by Americans and Mexicans. A largely habitable Canada in 50 years time with a population of 200 million+ would be a force in a screwed up world.

On the other side of the world I believe there will be large scale migration on the Chinese\Russian border. While the Chinese are trying their hardest to destroy their life support systems as quickly as possible just to the north of them are millions of square miles of soon to be habitable siberian tundra. As the Russians are already tetchy about Chinese migration this has potential to be a major flashpoint.

As people scramble around to avoid the worst effects of a rapidly changing environment don't be surprised if the current geopolitical landscape is turned on its head. It's possible that Canada could be one of the biggest winners, albeit in a screwed up world.

[oiless]

Thinking about it, given that 80+% of our exports go to the USA, and that a high Canadian dollar plays hell with the exporters, it wouldn't surprise me if the BOC moves to push our dollar back down. (It's not as though it's gone up, merely that the US dollar has depreciated.)
Much of Canada's manufacturing is concentrated in central Canada. This is an area that the Conservatives will need to keep happy if they plan to ever be more than a minority government. They can't afford an indefinite loss of jobs there.
The high Canadian dollar will also play hell with oil and natural gas industries, as they are sold in US dollars.
Dodge just needs to out-helicopter Ben.

Of course I could be out to lunch too...

[Euric]

$this->bbcode_second_pass_quote('oiless', 'T')hinking about it, given that 80+% of our exports go to the USA, and that a high Canadian dollar plays hell with the exporters, it wouldn't surprise me if the BOC moves to push our dollar back down. (It's not as though it's gone up, merely that the US dollar has depreciated.)

[zoidberg]

$this->bbcode_second_pass_quote('Euric', '')$this->bbcode_second_pass_quote('oiless', '
')There is much wisdom in the old saying about not putting all of ones eggs in one basket. Canada is doing just that. The sooner they wake up and realize the danger they are in the sooner they can correct this error by diversifying their exports.

Or is it they want to collapse along with the US?

[oiless]

Considering that many large "Canadian" businesses are owned by non-Canadans, and that our governments, like most governments everywhere, do not take their marching orders from the people, but from the people with money, any change in the way Canada does business is unlikely. They are not going to do what is best for Canada, they are going continue doing what they have been doing.