#1 2011-08-15 11:39:25
Also known as the real reason you should hate Nixon.
Last edited by fortinbras (2011-08-15 11:42:08)
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#2 2011-08-15 15:40:09
Isn't it amazing that a dollar is worth so little now? You couldn't even see the amount of gold it would purchase.
Even just 15 years ago you could buy 2 Canadian dollars for 1 US dollar. Or two Australian dollars. Now: parity.
Fiat currency is only a good idea if you have real assets to back it up. All we have is credit card bills, IOUs from countries broker than we are and a line of credit from China. That's what we live on.
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#3 2011-08-15 18:13:59
No, you could never buy $CDN at 2:1 for $US, although it did get to about 3:2 for a while.
Back when I was a lad in the 70's, the Canadian dollar was above the US... but the rise of Quebec separatism killed that by the late 70's and then government fiscal mismanagement torpedoed it. Really, the only reason it's higher now is because the USA, in its unending quest to be the best at everything, looked at Canadian fiscal mismanaged, called us pussies and decided to really show us how to mismanage money.
Stacked against other currencies, the Canadian dollar doesn't do so well. Even the $AUS is worth more than a $CDN and that's sad.
Accu-rate is selling us US dollars for 99 cents today. Here in Canada people say "wow, our dollar is going up" when really, they should be saying "fuck me, that US dollar is going down faster than Selena Gomez backstage at a Justin Bieber concert."
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