You know what that means… with US$1.00 = Cdn$1.05, the US is going to be overrun by bargain-hungry Canadians!! Run for cover, Yanks!!!
Perhaps the Canadians can help the US Bishops with their expenses when they encounter the price of the British Pound: $2.06. Perhaps they had better cut back on litigation expenses so they can afford the dorms at the University of Kent.
Actually, Ian+ has got it wrong way about. It now takes USD 1.05 to buy a loonie. Even the roo is above USD 0.92, and the norski is at 19 cents.
All of the major energy-backed currencies (since there is no longer any gold backing) are doing well. The US is a major energy producer, so this is probably keeping the greenback from slipping faster and farther.
More importantly, in biblical times it took two ounces of gold to buy a good cow. Today, two ounces of gold will buy … a good cow. Still, the gold, and the cows, and the loonies, and the greenback will all, eventually, fade away. GOD, and his plan for our lives … will not.
Note the prices on books, magazine subscriptions, etc, which traditionally give the prices in both US and Canadian dollars. Almost all still show the price in Canadian dollars 15-20% higher. I just got back from an international meeting, and our friends from the frozen north were complaining about that, but usually with a smile.
Sorry about that, folks. My brain doesn’t work well after 9 am most days. Brien is right it’s C$1 = US$1.05.
And #4 APB: they’re supposed to be adjusting book prices in Canada to reflect the change, and many other things.
As a Brit who visits the US I rather like the way things are a present, since I can charge to my credit card in the US and pay in sterling. However, I am also a US taxpayer and homeowner. From time to time I ask my American friends: Whatever happened to no taxation without representation? Where is Mel Gibson when we need him?
Donâ€™t worry; the North American Union will be here to save us! With a devalued currency, it will better facilitate merging the Canadian, US and Mexican currencies. This has been going on for some time, but many people are still unaware. I guess when the peso is worth more than the dollar, people will wake up to what is going on. Our lost of freedoms, nation sovereignty, etc.
My advice to people is to get out of the dollar. Buy gold and silver. I have converted most of my savings into precious metals and even some euros as it is replacing the dollar as the world reserve currency.