CAN$ is overvalued...start converting
Possibly but it is still overvalued...so i'll stick to USD.
Just how is it overvalued? Canada has one of the lowest rates of debt to GDP ratios, we didn't suffer that bad from the recession and we are sitting on top of abundant natural resources that the world not only wants but desperately needs - and increasingly so as they too come out of recession.
The US is all but bankrupt. If they were a person they would have been foreclosed on long ago. The Canadian dollar is not only rising against the greenback but all major currencies.
Now if we could only get competent financial leadership like that enjoyed during the Martin years we would be even better off!
That's great and all but i am referring to it being overvalued based on a long term position. Take a look at the history of the loonie.
The driving forces right now in the canadian dollar is purely speculation and for that reason i believe it is overvalued and due for a correction.
Whether short term it goes to 1.10 in my opinion is irrelevant. Long term, i would be buying USD as the recovery is inevitable.
So I should start charging CDN$ for my domains?
(and quickly convert to US$)
You must not have read my reply
The US is the #1 importer of our goods, making up HALF or more of the dollars coming in, behind them, WAY behind them is the UK and Japan. There is no feeling safe in either currency, they are ONE. NO China to buy up more goods, unless you think China will buy $250-$300 Billion dollars more this year coming lol
If you play the currency game its short, in and out! Not because you feel safe in USD or CAD. The world gov/banks work as one essentially, they all want to see each others currency hold. When the US saw the crash in 29-30 it was painful to europe too.
Bottom line, play short spurts, in and out but never bet us or cad as a security to a major depression. And besides unless youre playing with 7 fugures whats the point? The risk is not worth the reward on small sums, things change quickly, spurts and down turns of several points a day are not managed well by the average joe.
Not saying picking up $XXX-$XXXX or more here and there on exchange isnt nice but it isnt planned for me either.
The gold and oil do not compensate for $300 billion dollars, sorry. The only line that matters is the bottom line and unless the demand for those 2-3 specific commodities make up the VAST majority of funds, it doesnt matter much at all.
As for oil in particular I think people need a Oil 101 class, Canada's oil sands are NOT efficient ( cost wise ), secondly not all oil is made the same and thus not all products can use the same discovery.