By: Rolf Li
1 CAD=0.862 USD
This is why I’m pulling all my investments away from the Canadian Dollar. With the US Dollar jumping and the world economy looking weak, the Canadian Dollar looks like it is about to melt. Today, it fell to a 6-year low-comparable to that of 2008 during the 2008 recession. Investors like me are running away to the USD and the CNY because they have done nothing but rise.
Canada is falling out of step with the world economy and I don’t like it. When it started to fall a year ago, I kept my investments in because of the fact that I am Canadian. I had faith that the Dollar would rise after a small dip. Now, that was a BIG mistake. In fact, the CAN is expected to fall to 0.75 USD before the end of 2015. Can you see the problem here? We can no longer deny the truth. In December alone, the economy lost almost 46,000 job (pushing the unemployment rate up to 7.2%). 7.2%? Are you KIDDING me? A country like us should have an unemployment rate of 5%. The north is filled with natural resources, and the manufacturing industry was on the rise, but it was killed by terrible bills. So today I am taking a stand against the unbalanced rates from the Federal Reserve and the Bank of Canada. Roller-coaster inflation is not for me, and a measly GDP growth is for the birds.
I’m sorry if this message is not the usual material that is shown, but I think that this is important. For all of those out there, pull your investments that are based around the Canadian Dollar and don’t invest more. For me, I’m pulling $10,000 invested in the manufacturing industry and putting that towards the USD. In any case, to be safe, I am going to invest more in gold and wait out the storm. By doing this now, you protect the remainder of what you still have and when the CAN drops even lower (around 0.78 USD), I suggest buying back in. At that point, I trust the Canadian government to take the measures that are needed to push the dollar forwards. I myself have lost over $1,500 in investments because I was an idiot. I hope this is the warning you needed to save your money, and protect your family.Follow @zakopinion
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