Wednesday, June 1, 2011

The Canadian Dollar is No Haven from a US Dollar Collapse

We spend a lot of time here at The Dol­lar Vig­i­lante chastis­ing Ben Bernanke and the Fed­eral Reserve and prepar­ing our sub­scribers for a col­lapse of the US dol­lar – some­thing which has been pay­ing off very hand­somely, with gold and sil­ver at record highs this year – but don’t take that to mean that we pre­fer any other fiat cur­rency.  No fiat cur­rency in the west­ern world is any bet­ter than the US Dol­lar.  In fact, in every case, they are worse.
The Fed­eral Reserve is still, despite its secrecy, one of the most trans­par­ent cen­tral banks in the world.  It also has, over the last cen­tury, despite inflat­ing the dol­lar down­ward by 97%, been one of the least infla­tion­ary banks.
We often hear of peo­ple denounce the US dol­lar and cor­rectly divine that it is headed to worth­less­ness, but, in the same breath, they say they own other fiat cur­ren­cies like the Cana­dian dollar.
This is a case of igno­rance of the work­ings of banks like the Bank of Canada – or vir­tu­ally any other major cen­tral bank in the world, for that matter.
There are numer­ous rea­sons why the Cana­dian dol­lar will not sur­vive a US dol­lar collapse:
  • The Cana­dian econ­omy is very tied to the US economy
  • The Cana­dian Gov­ern­ment is intent on devalu­ing the Cana­dian dol­lar along­side the US
  • The Bank of Canada has vir­tu­ally no gold back­ing the Cana­dian dollar
  • All that does back the Cana­dian dol­lar is the US dol­lar and other fiat currencies
  • The Cana­dian dol­lar is not used globally
More Here..


BREAKING PROOF! OBAMA BORN IN KENYA - Long Form BC A FRAUD?

6 comments:

  1. Quit with the racist Obama born in Kenya crap.. you lose credibility as a Economic blog

    ReplyDelete
  2. The economy is already back to normal, as much as I hate to say it. I walked through several different neighborhoods and saw everyone cooking hot dogs and hamburgers. Children were all playing and riding bikes.

    Next I came across Charlie Brown and Denis the Menis. They were showing off baseball cards with Scruff and Snoopy.

    Following that came a trip to the library, where I took my wife and four children. We went to Peter Piper, then to see fireworks after that.

    This is what life is in America. I don't really see this economic doom. Every person makes about 100,000 dollars a year. When you turn 18 the government gives you money to buy a house. After that they pay for your medical and electricity bills.

    Once your kid gets out of high school they can sign up for a new car, and of course claim the money the government gives them for a house. Generally a wife will be given with 2 kids at the least.

    Once the kids turn 5 they are ready to start school, which is free.

    Mixed with this free living comes new Taco Bells, Toys R Us stores, and Malls which the government builds for us. All it takes is a group of construction workers to volunteer for the job. Most don't refuse to do it since they always let themselves be seen in pictures smiling.

    If you wish to purchase something that is over a million dollars, all you need to do is wait for a rich Indian man to come along and buy it for you. Many people think money is hard to come by. The truth is that a Hindu Indian doctor or a Chinese lawyer will hand you money out of kindness. I don't mean a quarter, or a dollar. I'm talking checks for 10K.

    ReplyDelete
  3. Is it racist to call out a fraud? Is that the best you have 4:31?

    You want an example of racism? Try to get a federal contract without hiring the government's dictated quota of minorities. Never-mind that you may offer the best value to the taxpayer, it's all about color and plumbing. That's racism buddy.

    Take you delusion elsewhere, this is one key reason the economy is trashed. Redistribution and that fraud that sits in the people's house is racing into economic hell.

    ReplyDelete
  4. Jerry (5:52) - Is this an attempt at (really bad) humor? If it is, you're definitely NOT funny and you think it is, I think you have a screw loose. Don't waste our time with such stupid posts.

    ReplyDelete
  5. What would you prefer me to say? Something like,
    "We're screwed! Get yourself armed, and don't be afraid to shoot people. Read about Argentina or Bosnia..."

    Shit's bad enough already, I'm just trying to lighten the mood. But heaven forbid anyone from being funny. Bring on more morbidness!

    ReplyDelete

Everyone is encouraged to participate with civilized comments.