X Nations - Canadians: are you affected by the US currency drop

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Canadians: are you affected by the US currency drop

If so, did you find any work around / solution?

nope..I'm enjoying the 25% pay cut myself ;)

Raising prices as we speak.
I dont intend to continue taking this hit.

it's been tough watching that exchange rate the past 3 years.

Quote:

Originally Posted by Fluid (Post 135222)

nope..I'm enjoying the 25% pay cut myself ;)

I think you will find its more than 25 per cent....depending how long you have been in business. We are an export and it hurts.

ABSOLUTELY it's been horrible! :geez: Especially we you get paid in US

Quote:

Originally Posted by rhetorical (Post 135235)

I think you will find its more than 25 per cent....depending how long you have been in business. We are an export and it hurts.

it is...I was using the sarcasm in a generalization to hide my pain

Historically speaking, the Canadian/US dollar rates do this every approximately 20 years ...

But then after the American dollar recovers, it soars to as high as 63% higher than its Canadian counterpart (remember 2003?) ...

That being said, if I were mortal, and living in Canada - hypothetically speaking of course - I would probably be placing a sizable portion of my monthly income into a high-yield AMERICAN savings account (ING's rates are currently at 3.75%), so that when the Benjamin does recover, I not only will have cashed in on getting more American dollars for my Canadian dollars (right now), but will also cash in again by waiting until the American dollar is in a positive position to the Canadian dollar to convert it back.

Depending on how long I wanted to hold off, I could (hypothetically) make upwards of 150-170% return on my money, in probably under 5 years time.

Find me a GIC or a registered savings bond that will do that?!?

Quote:

Originally Posted by GOD (Post 135260)

Historically speaking, the Canadian/US dollar rates do this every approximately 20 years ...

But then after the American dollar recovers, it soars to as high as 63% higher than its Canadian counterpart (remember 2003?) ...

That being said, if I were mortal, and living in Canada - hypothetically speaking of course - I would probably be placing a sizable portion of my monthly income into a high-yield AMERICAN savings account (ING's rates are currently at 3.75%), so that when the Benjamin does recover, I not only will have cashed in on getting more American dollars for my Canadian dollars (right now), but will also cash in again by waiting until the American dollar is in a positive position to the Canadian dollar to convert it back.

Depending on how long I wanted to hold off, I could (hypothetically) make upwards of 150-170% return on my money, in probably under 5 years time.

Find me GIC or a registered savings bond that will do that?!?

Damn.....

Taht's impressive really.

GOD: the problem with this is, not everyone has the cash flow to do that.. the small fishes are hurt while the whales have options.

Quote:

Originally Posted by GOD (Post 135260)

Works if you earn Canadian dollars. I haven't earned a Canadian dollar in about 8 years, though.

Quote:

Originally Posted by rhetorical (Post 135295)

Works if you earn Canadian dollars. I haven't earned a Canadian dollar in about 8 years, though.

So you drop what you can spare USD into a high-yield savings account (such as ING American ISA) and wait for the Benji to pick up steam again ...

You'll still make a minimum 130% ROI in under 5 years ...

We're not talking chump change -- for something almost as sure as death and taxes ...