Dollar Falls to Record on China's Plans to Diversify Reserves

[Canmorite]

http://www.bloomberg.com/apps/news?pid=20601087&sid=alGVN031e30s&refer=home

$USD, Fuck it.

[kaput]

.

[Canmorite]

EUR/USD: 1.4627
GBP/USD: 2.0927
USD/CAD: 0.9122

:eek:

[kaput]

.

[thrasher22]

^^ you got it. They're not going to be buying as much of our products if they now cost %10 more, and with 300 million people, thats a big market to lose. Its not the end all of our economy, but its not a good thing either.

[Canmorite]

Originally posted by thrasher22
^^ you got it. They're not going to be buying as much of our products if they now cost %10 more, and with 300 million people, thats a big market to lose. Its not the end all of our economy, but its not a good thing either.

They'll (China) keep buying our natural resourees, though.

[Xtrema]

Actually if you read the article, the low US dollar is helping US gain competitiveness and reduce trade deficit and may improve the US economy but kill Europe's and put a damper on Asia's.

We are resource based so we should be ok. But the problem is that resources will eventually runs out while other markets are struggling which may not be good for Canada in long runs.

And the $cdn is currently over value by 10%, you bet your ass that the government will do something to stop it from going over $1.10.

[01RedDX]

.

[Toma]

I dont see why you think the Canadian $ is "overvalued". I have not been following it too closely, but as I recall, 2 years ago it was ABOUT $1.3x cdn for a Euro... that is where we are today.

Seems only the US $ tanked.

And this is NOT good for the US. They are a NET IMPORTER (by a huge margin), so it would be better as far as I knew that they had a strong dollar.

And I certainly hope that the Bank Of Canada does not touch our rates.... devalue our dollar for what? SO inflation goes even higher?

[Toma]

Originally posted by thrasher22
^^ you got it. They're not going to be buying as much of our products if they now cost %10 more, and with 300 million people, thats a big market to lose. Its not the end all of our economy, but its not a good thing either.
Sure they will.... their currency has tanked compared to all currency's.... Who else will they buy from to feed their ferocious appetite for consumables? They certainly cant sustain themselves....

War is coming.

[Toma]

So oil will hit $100 tomorrow.....

[Supa Dexta]

I watched a show about how china has over 2 trillion usd stashed away I think it was.. Enough to buy walmart/Gm/ and another big one or 2 they said..

...ouch..

[89coupe]

Hey Toma,

I bet you didn't want to hear this.

http://money.canoe.ca/News/Other/2007/11/07/4637824-cp.html

[sputnik]

Originally posted by 89coupe
Hey Toma,

I bet you didn't want to hear this.

http://money.canoe.ca/News/Other/2007/11/07/4637824-cp.html

Toma will spin it so that his beloved Liberals look like saints protecting the unionized manufacturing jobs.

[BigMass]

i dont think Toma would be for corporate welfare and protectionism which is what this is. Lowering interest rates so the value of the dollar drops and create inflation is no different than printing money and giving it to the companies as welfare payments. It’s the exact same thing