Seriously though - is anyone else getting CLOBBERED by the exchange rate on the USD??

Stumpage · 05-31-06, 08:42 PM

I'm getting nuked on it daily.....I believe the Canuck dollar dropped some today, but it is still above 90 cents. The good ol' days of the .65 cent exchange rate, when I could look at my Canadian dollar sportbook accounts and wonder blissfully how much that was in American funds...

tacomax · 05-31-06, 08:52 PM

Mudcat, look at it this way. The purchasing power of your US$ in America doesn't diminish when the exchange rate fluctuates.

Lucas · 05-31-06, 09:19 PM

I decided to switch from euro betting currency to USD when the rate was about 1.17, now it is over 1.28... net loss about 10%. I hope that US economy is stronger than it seems and the rate will go back.
I think at Gambookers was a bet if USD/Euro will be 1:1 in the 2006. I do not think they offer it now

LGBoots · 06-01-06, 05:10 AM

It is most depressing , UK pound has gone from $1.71 to $1.87

I try to ignore it as there is nothing I can do about it. Can only hope that the rate comes back down again SOON

Mudcat · 06-01-06, 10:13 AM

Originally posted by tacomax

Mudcat, look at it this way. The purchasing power of your US$ in America doesn't diminish when the exchange rate fluctuates.

That is indeed one of the mental strategies I use to calm myself down on this issue.

Terris · 06-01-06, 10:17 AM

Its the same for me muddy, Euro getting stronger too

(or $ weaker, which is more likely the case)

Mudcat · 06-16-06, 10:56 AM

There has been a bit of a rally for the USD (compared to the Cdn) this week.

Is that the al-Zarqawi effect? I swear I have no understanding of how these things work.

But I'll take it.

SBR_John · 06-16-06, 11:01 AM

Air fares flying west have gotten unreal between the fuel cost and the dollar shrinking. Going east is still not too bad.

Mudcat · 07-14-07, 02:44 PM

Just doing some accounting and remembering this old thread. I thought things were bad back then. I had no idea. The Canadian dollar is now worth over 95 cents US.

I suppose that doesn't mean much to anyone outside of Canada. Well believe me, you could almost call it a historic number. As was mentioned by Stumpage, the .65 cent dollar is a not-so-distant memory.

I still don't understand how these things work and whether it is primarily the USD getting weaker or the CDN getting stronger. All I know is I own a head of that American cabbage and it is constantly getting chewed away at the edges and it SUCKS ASS!

Great for Canadian sport franchises.

Not great for me.

Mudcat ----->

<-----mysterious economic effects

ShamsWoof10 · 07-14-07, 02:50 PM

Nice thread MCat... Where are all of you from..? Don't worry the Amero will be here soon to rescue you... AJones and a lot of these alternative media sources have been saying for 4 years that when the US is 1:1 to Can. the Amero will soon follow.. Well guys 104.78 Can.US they are looking pretty smart right now... The dollar will get worse but hang in there....

Santo · 07-14-07, 03:09 PM

I liquidated most of my $ holdings a while ago, there are a few books/exchanges that still insist on only using it unfortunately.

Stumpage · 07-14-07, 03:51 PM

Man, I can relate to this.....The full impact of the Dwinding US/ Rising CDN $$ hit home for me last week when I went to cash my Greek check. For a check of roughly $4,000 US, I cashed in just over $4130 Canadian. This, of course, after I was subject to the Bank's "special" exchange rate, and not special in a good way. Bloody banks. Anyway, that's my sob story as it relates to this thread.

ShamsWoof10 · 07-14-07, 03:58 PM

Amazing.. and we in the states don't even notice it really... I have been mentioning the dollar's decline to people as far back as 02'-present and they haven't noticed... It interesting actually... The people's perspective is "well if it doesn't happen to me then it's not happening.." When people say the sky is not falling they think so because it has not yet fallen for them...

Santo · 07-14-07, 04:06 PM

The only ones who notice are those who travel, and they sure do notice it when they go abroad, they've shown Americans moaning about it on the news here frequently lately.

Also anything imported will get more expensive.

ShamsWoof10 · 07-14-07, 04:12 PM

Originally posted by Santo

Also anything imported will get more expensive.

which is most everything... not much made here anymore and less by the day.. this is another thing people miss...

gridironguy · 07-14-07, 04:15 PM

As a U.S. citizen, I hate to say it, but the U.S. Dollar is pretty much worthless internationally now. Has been this way for quite a few yrs now..

BrentCrude · 07-14-07, 04:33 PM

Geesh,finally someone that realizes we have inflation and a devalued dollar!

I live about an hour from the Canadian border and used to love to go to Thunder Bay and Winnipeg a couple times a year from the 70's to today.I remember when the Canadian dollar was worth about 65 cents U.S.and you could find varied deals up there but even back in the 80's Canada was going real socialist with healthcare etc.so you had a certain kind of inflation up there that made gas,cigarettes and booze really expensive.Today in the U.S.A.especially with our weak dollar I feel like a Canadian making Canadian dollars back in the 80's.

I will say this much for the Canadian banks.When you used to give american money to exchange for Canadian money they calculated right down the closest decimal point where you didn't get gyped a penny.If you brought back Canadian Money to a U.S.A.bank they treated you like scum and gave you a terrible exchange rate.I used to always buy about $50 in Canadian quarters which at the time cost about $30 U.S.and over a month or so of buying gas and adding in a Canadian quarter I would get $20 free.Anything to make a dime as a kid.hehe!Then the nickel video poker machines&keno in the casinos in the states would take Canadian nickels so I would get a ton of Canadian nickel roles.Paid for my trips.

The strip joints in places like Winnipeg,Thunder Bay,Sarnia and Windsor are something to behold compared to the strip joints in the states.There are some things in Canada even today that are less regulated and more wide open and I think they are like Ireland and heading away from socialism while the U.S.A.is getting more into it.Hence the stronger Canadian dollar! It's now cheaper to run a pro sports team and make movies in Canada.

I used to buy a carton of cigarettes and a case of beer in the states and bring it into Canada and sold the cigs to some guy at the strip joints doubling my money and then would drink the beer myself.You could only bring a case in and a case back and I always brought a case of Labatt's or Molson back when it wasn't available in the states.I would fill up my tank here amd gas up at the border for about $6 and the $100 would last me for 4 days going to the race track,all you can eat buffets,going to the strip joints and buying a few collectibles to take home.When I look back at that 20 years ago it feels like I live in a different century these days.Tell me there is no inflation?The crossing were usually routine and fast but I had a couple experiences.It was about the end of June and I crossed the border at 3 a.m heading to Fargo to buy fireworks for a ton of friends back home and the Maytag repairman border patrol that had nothing to do at 3am decided at that hour I must be up to no good.He gfound my fireworks list and really got suspicious.A couple guys rifled through my K-car and practically strip searched me and all they found were a couple $1 lotto 649 tickets which they told me were illegal to take back but let me anyway.The next time I wanted to take a Cuban cigar back for a souvenir but I chickened out and smoked it the night before I drove home.Didn't see what the big deal over Cuban cigars were because it was awful.

Mudcat · 07-15-07, 07:45 AM

Originally posted by Santo

I liquidated most of my $ holdings a while ago, there are a few books/exchanges that still insist on only using it unfortunately.

If I am understanding correctly and you are saying you converted most of your USD some time ago:

Nice going. No doubt about it: that's impressive capping.

I have certainly thought many times about moving in that direction but I always figure I'll get rid of my USD - and the next day is when the bounce will happen.

Kind of like being stuck in traffic on the freeway. As soon as you change lanes, the one you just left starts moving.

Santo · 07-15-07, 09:08 AM

It wasn't capping, just that as I started accruing more expenses, and they were in GBP, it made more sense to move my income sources into GBP also, lower variance rather than any good luck/predictions.

It meant I could plan things far more effectively, and any move either way wouldn't alter those plans.

Mudcat · 07-15-07, 09:12 AM

I hear ya.

durito · 07-15-07, 01:08 PM

I am as well.

The dollar has fallen over 20% in the last year vs the Colombian peso.

ShamsWoof10 · 07-15-07, 01:29 PM

http://www.youtube.com/watch?v=2kjsy2Z3kdI

Lou Dobbs can slam the CFR (Council on Foreign Relations) all he wants... THEY MAKE THE CALL!! Every president (and most other cabinet members) we have had going all the way back to the creation of the CFR have been members of the CFR...

Here's Ron Paul talking about it on CNBC with Joe Scarbrough (scroll down near the bottom)

http://www.anomalytv.com/site/2007/07/13/ron-paul-on-morning-joe-msnbc/