Re: Exchange rate
 

So was Freedom, the Constitution and Fair Play..... a lot of things changed on 9/11/01.

I see your point, but I don't believe the American Public have the spirit to stand up to anything their "leaders" may foist on them these days. If Obama says the Amero is absolutely vital to the survival of the Nation (after all the recent bad news) I don't think enough eyelids would be batted to stop that happening. The Great American Public appears to have been castrated....

Re: Exchange rate
 

Hi

You lot scare me!!! with this money talk

I am flying out on the 15 Jan 09 and I need advice on changing some money. Please correct me if I am wrong on anything.

Firstly, do I need to change my proof of funds to the CD before I go or can I just show them the amount in GBP on a bank statement upon landing?

I will be changing some money but was hoping to leave the proof of funds in the bank until the rate goes up.

HIFX offering more than Moneycoup, why?

Can I afford to wait until the 12th for the CD to go up or should I change my money now....just the minimum?

Any other advice on this matter would be welcomed

K:)

Re: Exchange rate
 

Moneycorp's daily email suggests there's a lot of volatility at the moment because of very low trading volumes during the holiday season. I have to exchange quite a lot of money before the end of Jan, but I'll not do anything this week. Whether that turns out to be the right strategy remains to be seen..

I think proof of funds could be in any currency.

Re: Exchange rate
 

I moved enough to cover my proof of funds over to my HSBC Canada account yesterday (would have done it earlier if the account had been live), so i predict that will be the bottom of the current run against the pound :( Seriously, I'm sick of worrying about the rate going down further. Now I don't care. If I lose a thousand dollars or more in the long run, I don't care anymore...at least I'm not going to be worrying.

IMHO the UK is totally screwed and Labour are quite happy to debase our currency further. They are economic incompetents. Our rise in GDP over the past ten years was based on an illusion of rising asset prices, not improved productivity or innovation, and now the tide is going out we can see just how naked we are. Canada has stuff to sell the world, things that it will need once the global economy starts to fire up again...it is the best long term bet by far.

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oops

Re: Exchange rate
 

--------------------------------------------------------------------------------

i would hate to be thought of as being a tin foil hat wearing, america-hater.....
but most western soceities these days have the 'me' agenda as priority, america perhaps more so than most.

if it is thought that the Amero monetary system would consolidate continental american's resources enough to compete with the European and Asian markets, then the current US hardship combined with the example made by the UK joining its monetary union, then canada's wish for the Amero will be fulfilled.

it is an easy sell IMO and the current wave of 'Obama optimism' is capable of replacing the green back.

meanwhile my concerns persist, as the downward trend of GBP to C$ continues. with damage limitation in mind, i think i will be acting sooner rather than later, whilst simply hoping that any losses can be compensated for by a favourable housing investment once in BC.

Re: Exchange rate
 

You tin foil hat wearing, america-hater.....!!!


I think you could be right. I was a firm believer that the UK would take a bit of a beating and then pull something out of the hat.

Then I remembered brown and darling were in charge.....:(

Re: Exchange rate
 

The current recession makes it less likely, not more that the UK will join the Euro (quite apart from Brown being highly unlikely to take such a huge political risk when his position is so weak). The possibility that the US would ditch the dollar is absolutely minimal. There are simply no economic benefits to the US, as the dollar is already the biggest global currency, and threats from the Yen or Euro would not be alleviated by adding Canada or Mexico (the Amero concept), as their economies are too small (together their GDP is about $2bn, compared to over $14bn for the US). In any case the economic systems of the three countries are too radically different to make any more integration worth while. Indeed it is much more likely that existing trading agreements are watered down, as the US is historically (even more) protectionist when things get tough. Furthermore although McCain was very pro-free trade, Obama was not, and made some anti-Nafta comments on the campaign trail. Finally even if there was the political will, the governments of Mexico and Canada are not strong enough to bring about such significant change, which almost certainly would be opposed by pretty much everyone. Oh, and currency change is hugely expensive (think altering or replacing every machine that physically or electonically handles cash apart from recalling and reissuing all notes and coins).

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$1.73 - £1 :eek:

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i saw $1.71 appear at around 3pm today!

i might forget my canada bound plans and look towards australia at this rate!

are there any financial analysts in here, able to put their credability on the line by telling me when the $2 mark will be back again?

that is the point i sell sell sterling!

Re: Exchange rate
 

Unfortunately, the "stuff" that Canada has to sell the world was massively overvalued eg Oil. The prices of these have collapsed, already many Alberta Oilsands projects have been put on hold. This was one of the key drivers of the Canadian economy which has now gone into freefall. Then consider the Automotive industry in Ontario, what will happen if the big 3 go bankrupt, it will be a disaster for that part of Canada. Look at the forestry and paper industry in Quebec, that's falling apart. This thing is bigger than Labour or the UK, to say that Canada is a better long term bet is pure speculation

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DOUBLE TAKE!!!!...:eek: :eek:

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now at £1 = $1.72:ohmy:

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Guess OTBO got that very very wrong :ohmy:

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:lol: