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Thread: Canadian dollar collapsing, experts pessimistic

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    Owner Dan Druff's Avatar
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    Canadian dollar collapsing, experts pessimistic

    Canadian dollar has dropped a whopping 33% in the past year versus the US dollar.

    I know this very well, because the Canadian dollar was 91 cents when I traveled there in August 2014, 75 cents when I visited in September 2015, and just 69 cents today.

    Experts predict that it will keep falling, and then get stuck at wherever it stabilizes. Some see the bottom at 65 cents, while others see the bottom at 59!

    Grocery prices are way up for Canadians, especially anything imported from the US.

    It is also predicted that the Canadian dollar won't recover until around 2018!

    The only upside for Canadians is that this weak dollar will spur continued strong tourism. Canada had its best tourism year ever in 2015, mostly thanks to the favorable exchange rate for US dollar holders.

    I will probably take another Canadian trip this year if this situation remains.

    http://www.profitconfidential.com/fo...nadian-dollar/

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    Platinum BetCheckBet's Avatar
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    Actually biggest advantage is not tourism but exports.

    Wish I still played poker.... Buying from USA is def no no now

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    Bronze Benford's Avatar
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    CAD will make a comeback roughly in tandem with oil prices. It's just a matter of how long it will take for oil price to climb out of the hole.

     
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    Platinum BetCheckBet's Avatar
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    Also for people who don't understand odds ratios... Dollar at 66 cents means Canadians pay 50% more for usa goods not including exchange fees or duty...

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    Gold gauchojake's Avatar
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    My first trip to Canadia was for a bachelor party when the USD/CAD exchange was like 1 to 1.6. We lived like kings! I am pretty sure they hated us.

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    Plutonium simpdog's Avatar
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    Quote Originally Posted by Benford View Post
    CAD will make a comeback roughly in tandem with oil prices. It's just a matter of how long it will take for oil price to climb out of the hole.

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    Plutonium Sanlmar's Avatar
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    Quote Originally Posted by simpdog View Post
    Quote Originally Posted by Benford View Post
    CAD will make a comeback roughly in tandem with oil prices. It's just a matter of how long it will take for oil price to climb out of the hole.
    Not really. Oil prices will rise when the Canadian oil business is finally wiped out.

    Saudis and U.S. will bid at the estate sale.

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    Plutonium lol wow's Avatar
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    chaps actually starving to death

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    Hurricane Expert tgull's Avatar
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    Quebec is a very cool, I might buzz up there for a long weekend, there is a very cool hotel there on a hill right off the lift. If Druff is correct @ .59 on the dollar you simply can't beat that. Outside of Vancouver and Quebec, rest of Canada is a shithole.

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    Quote Originally Posted by tgull View Post
    Quebec is a very cool, I might buzz up there for a long weekend, there is a very cool hotel there on a hill right off the lift. If Druff is correct @ .59 on the dollar you simply can't beat that. Outside of Vancouver and Quebec, rest of Canada is a shithole.





    sure you will


    #anotherfaketrip

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    Platinum Baron Von Strucker's Avatar
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    I may have made the best investment in my life when i gutted and renovated my cabin in USA at the time traded 1CAD for 1USD 200k. Would probably make sense to sell it this summer and collect profit from the sale and the exchange rate.

    of course my wife aint seeing it that way and refuses to sell her little piece of paradise regardless of the potential profit, I will admit it has greatly improved our relationship (sex life) since we bought it, it is very relaxing and fun there.
    all hail Hydra



    Originally Posted by DanDruff:Since I'm a 6'2" Republican with an average-sized nose and a last name which doesn't end with "stein", "man", or "berg", I can hide among the goyim and remain undetected unless I open my mouth about money matters.

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    I hope Canada is endlessly punished for the decision to elect Justin Trudeau as the Prime Minister. I can not imagine a more shameful act for any country to partake in.
    Last edited by ThisGuyisWhat; 01-23-2016 at 01:37 PM.

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    Photoballer 4Dragons's Avatar
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    It's a dubious plan by the American Democratic Party via the U.N. - Collapse the economies of Canada and Mexico, annex both as the 51st and 52nd States, creating millions of new American voters that will no doubt vote Democrat, thereby destroying any conservative party relevance. Follow that by the disbanding of the 2 party system and burning our flag and just calling this the Global Western Territory and just wait for Europe to do the same. One World brah's.. it's coming.

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    Gold Starbucks Spunk Bucket's Avatar
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    I was thinking Amaya Inc might be a reasonable investment at the minute because the stock has fallen so low recently and they basically have a monopoly of the online poker market, this news must have contributed even more to their latest fall in share price. Thoughts?

     
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      Benford: Ya, oil may stay low for a long time. Just noting correlation between OIL and CAD strength overall
    BALLIN'!!

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    Gold Starbucks Spunk Bucket's Avatar
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    Benford: "Ya, oil may stay low for a long time. Just noting correlation between OIL and CAD strength overall"

    My bad, edited post to remove comment about oil once I read yours again
    BALLIN'!!

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    Gold Shizzmoney's Avatar
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    One of the biggest factors at play when it comes to the CAD/USD is the price of crude oil.

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    If this keeps up, I'm gonna have to go back up there to play more poker soon!
    http://www.miraclecovers.com

    "Donk down, that’s what you say to someone after they have lost 28K straight?" - Phil Hellmuth, online

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    Platinum GrenadaRoger's Avatar
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    great prices on Canadian Viagra
    (long before there was a PFA i had my Grenade & Crossbones avatar at DD)

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    Owner Dan Druff's Avatar
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    Yes, I knew exports were a big advantage resulting from the weak dollar, but I didn't bother mentioning it because that's true of nearly all countries (except the few with no exports!)

    I mentioned the tourism thing because they actually had the strongest tourism year ever in 2015 for the currency reason, and they were actually struggling with tourism in the years prior where the CAD had been strong against the USD (remember when it was at parity?)

    Canadians: Are you noticing terrible grocery prices like the article claims? Or just on items imported from the US?

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    Gold Kuntmissioner's Avatar
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    Quote Originally Posted by tgull View Post
    Quebec is a very cool, I might buzz up there for a long weekend, there is a very cool hotel there on a hill right off the lift.
    The lift is known as L’incomparable funiculaire de Québec, and the hotel is the Frontenac. Just left there yesterday, cold as fuck but gorgeous. Highly recommend.

  20. #20
    Plutonium simpdog's Avatar
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    Quote Originally Posted by Dan Druff View Post
    Yes, I knew exports were a big advantage resulting from the weak dollar, but I didn't bother mentioning it because that's true of nearly all countries (except the few with no exports!)

    I mentioned the tourism thing because they actually had the strongest tourism year ever in 2015 for the currency reason, and they were actually struggling with tourism in the years prior where the CAD had been strong against the USD (remember when it was at parity?)

    Canadians: Are you noticing terrible grocery prices like the article claims? Or just on items imported from the US?
    Prices don't change immediately. I would expect the prices to pop in the next few months.

    Also keep in mind that gas prices are lower which help keep costs down too.

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