planning to reload e wallets, Sportsbooks etc now that our dollar is going to parity with the US dollar? I have been transferring money to my us $ account and going to make a bank wire within 2 weeks to moneybookers.
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Such actions probably make sense but I already have all the money I want offshore. I could round up some more funds and send it out just for the sake of gambling that the US dollar will rise again. I don't understand these things very well but I think it probably will.
You know, you make a good point.Comment -
According to someone I trust, the USD is nowhere close to a bottom. I generally don't bother trying to anticipate currency moves, but I would certainly pull out and/or convert any USD into CAD or Euros right now.Comment -
Originally posted by Matt Rain
I bet I could find someone rich and successful who would say the US dollar will soon return to a much better conversion rate.
Ultimately I have found that "experts" gabbing about this kind of thing are not a lot more reliable than forum sports cappers. They can sound good sometimes but really they have a coinflip chance of being right/wrong.
All I know is that for almost all of my life, the US dollar has lived at a much better exchange rate than where it currently sits. Could that change and now the Canadian dollar will become and stay stronger for the next many years?
Sure I guess.Comment -
For sure Mud. But my trust is reinforced by the fact that I'm handling the guy's money - he specifically asked me to pull out every last USD we had.
It's a pretty simple observation - Obama is printing money like crazy, yet the USD has remained artificially strong(ish) up to now.Comment -
Obama can't find enough paper to print the money that's being printed. I see the dollar back above par and maybe as high as 1.10 again. I have 4 K waiting to be changed into US dollars once we go above par. I have a lot of 80 cent dollars already out there so it doesn't mean much to me.Comment -
Obama isn't printing money, it's the Federal Reserve which he does not control. But semantics.
I think it will sit around parity for a while. The Fed has been printing a lot of money, which lowers the value of the USD. But the US is in recovery mode now, which will improve the value of its currency (explanation for this is long). However, the price of oil is relatively low right now. The higher the price of oil, the more demand there is for CDN$$, which strengthens the CDN$$. If the US recovers quickly, the demand for oil will rise, and so the price will as well. So there are forces moving in opposite directions. Of course I have no idea how large each force is, but my expectation is that there won't be much change over the next while.Comment -
bought stock in Canadian gold mining company - KINROSS (KGC) stock has been doing great and think will continue to do so as long as US dollar keeps droppingComment -
If you're into gold I HIGHLY recommend BRE-XOriginally posted by philswinComment -
I think Madoff has a lot of BRE-X in his portfolioComment -
My office is wall papered in Bre-x stock certificatesComment