Personal Finance

HOT DEAL - Canadian Dollar LOONIE ON SALE

  • Last Updated:
  • Jan 9th, 2014 11:13 am
Tags:
None
[OP]
Sr. Member
Sep 24, 2006
965 posts
176 upvotes
Collingwood

HOT DEAL - Canadian Dollar LOONIE ON SALE

wasn't sure whether to post this in the hot deal forum or here :lol: but it seems the loonie is turning into TOILET PAPER especially today down 1.13% in one day over a cent. Weird considering we are not printing as much as our friends down south.
39 replies
[OP]
Sr. Member
Sep 24, 2006
965 posts
176 upvotes
Collingwood
it's funny how with carney strong, with poloz the loonie is more toilet paper than the USD and the US is printing alot. Goes to show how much the world likes (dislikes) the loonie.
[OP]
Sr. Member
Sep 24, 2006
965 posts
176 upvotes
Collingwood
Poloz must have worked as a toilet paper salesman before becoming chairman of the bank of canada
Deal Addict
Sep 11, 2006
2050 posts
734 upvotes
It's not a sale if I can get it cheaper a month from now on clearance.
[OP]
Sr. Member
Sep 24, 2006
965 posts
176 upvotes
Collingwood
at the rate its going down I might be wiping my *** with 5 dollar bills in the next few weeks... :facepalm:
Deal Addict
Dec 28, 2008
1368 posts
150 upvotes
Toronto
It is due to the large Canadian trade balance deficit that was much larger than expected.
Deal Guru
Apr 11, 2006
10594 posts
4559 upvotes
Mississauga
Raise the interest rates!!!
Deal Addict
User avatar
Nov 23, 2001
4486 posts
58 upvotes
Calgary
Bad deal. Canadian loonies made 2012 and later are mostly iron (and are worth about 0.4 cents)

Side note: Canadian 5-cent nickels made before 1981 peaked out at a metal value of 23 cents back in the year 2007.
A US nickel is worth more than 5 cents.
[OP]
Sr. Member
Sep 24, 2006
965 posts
176 upvotes
Collingwood
kenchau wrote: Raise the interest rates!!!
Poloz is too dumb to do that on his own. Carney at least had in the statements forward looking statements that rate would go up one day. Poloz wants Loonie to be toilet paper.
Banned
User avatar
Feb 15, 2008
26318 posts
3231 upvotes
Calgary
BryceS wrote: It is due to the large Canadian trade balance deficit that was much larger than expected.
In the short term, yeah. Over the medium to longer term, once the housing bubble starts to really implode on itself, it will be very difficult to keep the CAD$ down.

I wouldn't view what's happening as anything but short-term cyclical weakness. And of course, a great buying opportunity in the CAD$, and a great shorting opportunity for USD$ stuff. Take out some loans in USD$, and pay them back with more valuable CAD$ in the not-so-distant future.
TodayHello wrote: ...The Banks are smarter than you - they have floors full of people whose job it is to read Mark77 posts...
[OP]
Sr. Member
Sep 24, 2006
965 posts
176 upvotes
Collingwood
Mark77 this is directly against Goldman Sachs position (long USD short cad) do you know something they don't? =D
Member
Sep 24, 2012
347 posts
30 upvotes
MISSISSAUGA
I have always wondered that how come GBP has more value than CAD? What have they got that Canada doesn't? I feel like it is failure on BoC's part. If they increase the interest rate then overly inflated housing market bubble would burst as people would be unable to pay high interest.
Sr. Member
Oct 13, 2011
766 posts
501 upvotes
staffpro wrote: Mark77 this is directly against Goldman Sachs position (long USD short cad) do you know something they don't? =D
All a person need to do is do the opposite of what Mark77 suggest, and they would do really well financially.
Deal Guru
Apr 11, 2006
10594 posts
4559 upvotes
Mississauga
staffpro wrote: Poloz is too dumb to do that on his own. Carney at least had in the statements forward looking statements that rate would go up one day. Poloz wants Loonie to be toilet paper.
Yeah, but even Carney, delayed rate increases time and time again. Concerns with Canadian record debt levels. Well all it did was allow Canadians to keep spending more and more on real estate, latest and greatest gadgets, etc. getting into even higher record debt levels.
Deal Guru
Apr 11, 2006
10594 posts
4559 upvotes
Mississauga
MehtabSingh wrote: I have always wondered that how come GBP has more value than CAD? What have they got that Canada doesn't? I feel like it is failure on BoC's part. If they increase the interest rate then overly inflated housing market bubble would burst as people would be unable to pay high interest.
Well it would have to go through a few rounds of increases of a few points for that to happen. But really, who's fault is that - it's the people buying homes and not accounting for affordability should interest rates rise.

Top