Tom Luxsox Coins

Dollar Dollars

The Play on the Canadian Dollar

This week I was watching a reporter interview Marc Farber (of the "Gloom and Doom Report"), and the interviewer's question was something to the effect: "Marc, whose currency will follow Greece's next, Canada?" At that point, I knew how little the interviewer understand the finances of other countries outside the U.S.

The Canadian dollar, which was at par with the U.S. dollar recently, has fallen to $0.95 U.S., as traders and investors have flocked (rightfully or not) to the U.S. dollar during the euro crisis. The weakness in the Canadian dollar has more to do with the strength of the U.S. dollar than the weakness of the Canadian dollar.

Canada is a country rich in resources. The country's banks are among the strongest in the world. And, while U.S. home prices have trended down since 2005, home prices in Canada have been rising steadily since 2005. Unlike Americans, Canadians do not receive a tax
benefit for their interest on their mortgage on their personal tax returns. And, unless you are a first-time home buyer, you'll have to put at least 25% down in equity to buy a home in Canada.

Depending on which statistic you believe, Canada's national debt is between 55% and 65% of GDP. Canada led the G7 countries out of the recession and I believe it will be Canada that will be the first country to return to a balanced annual budget (the Canadian government expects to run a balanced budget in its 2017-2018 fiscal year).

There are two ways to play the Canadian dollar:

Any dip towards a Canadian dollar valued at $0.90 U.S. would be overdone for me. If I traded currencies, I would see a buying opportunity for the Canadian dollar in the $0.92 to $0.90 U.S. range.

As an American, there are quality U.S. stocks that can be purchased on Canadian stock exchanges in Canadian dollars, not U.S. dollars. As the Canadian dollar rises, and you sell those stocks, you get more American dollars back than you put in.

Of all the G7 countries, I see the Canadian dollar as the most valuable. In fact, this currency could become a safe haven for investors.

Where the Market Stands:

The Dow Jones Industrial Average opens this morning down 1.6% for the year. While it felt like we encountered many "mini-crashes" in stock prices during the month of May, the bottom line is that the market is only down 1.6% for the year.

I ran a search this morning of the 10 Dow Jones sub-index groups (for example, the Dow Jones U.S. Oil and Gas Index) and all 10 are up over the last three-month period. So, while the main Dow Jones Industrial Index is down 1.6%, the sub-index groups are all up.

Sure, I read a lot of stories this week about the bear market rally having run its course, but I read those same types of stories in late February, and the market rallied from there.  

Please understand me -- our economic future is not bright.

Interest rates have ended a 30-year down cycle and will start to rise from here. I'm very worried about inflation, record national debt, and the viability of a U.S. dollar backed by so much debt. Long term, I would not be surprised to see us test the March 2009 stock market lows. In fact, I expect this will happen. But, in the immediate term, I think that the bear market rally that started in March 2009 may have more life left to it.

What He Said:

"As a reader, you're aware I'm not a Greenspan fan. In the years that lie ahead, I believe we (and our children) may pay dearly for the debt bubble Greenspan created during his tenure as head of the U.S. Federal Reserve." Michael Lombardi in PROFIT CONFIDENTIAL, March 20, 2006. "A low savings rate was eventually blamed for the length of the Great Depression. Consumers just didn't have enough money to spend their way out of the Depression. With today's savings rate being so low, a recession could have a profoundly negative effect on over-extended consumers." Michael Lombardi in PROFIT CONFIDENTIAL, March 26, 2006. Michael started talking about and predicting the financial catastrophe we started experiencing in 2008 long before anyone else.

About the Author

Michael Lombardi, MBA bought his first stock when he was 17 years old. He quickly saw $2,000 of savings from summer jobs turn into $1,000. Determined not to lose money again on a stock, Michael started researching the market intensely, reading every book he could find on the topic and taking every course he could afford. It didn't take long for Michael to start making money with stocks, and that led Michael to launch a newsletter on the stock market. Today, Michael only employs the top market analysts and editors. Some of our recommendations have posted gains in excess of 500%! Michael has authored and published over one thousand articles on investment and money management. Along the way to building Lombardi Publishing Corporation, now with over one million customers in 141 countries, Michael became an active investor in real estate, art, precious metals and various businesses. Readers of the daily Profit Confidential e-letter are offered the benefit of the expertise Michael has gained in these sectors. Michael believes in successful stock picking as an important wealth accumulation tool. Married with two children, Michael received his Chartered Financial Planner designation from the Financial Planners Standards Council of Canada and his MBA from the Graduate Business School, Heriot-Watt University, Edinburgh, Scotland.

Dollars $12.22 The Money Matters emergent reader series introduces children to the basics of money. The spreads link text to images and discuss the meanings of the symbols on each coin and bill, and how people earn, save, and spend money. Includes glossary with pronunciation guide and an index. Also includes "To Find Out More" section that lists additional reading materials and websites that will encourage readers to learn more about money and beginning finance. This Welcome Book introduces readers to the dollar. Learn what dollars are made of, what each symbol on the front and back means, and the different types of dollars (coin and paper).

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Tobagan Dollar $81.25 High Quality Content by WIKIPEDIA articles The dollar was the currency of Tobago until 1814. The currency comprised various cut Spanish dollars and countermarked French colonial coins. The dollar wassubdivided into 11 bits, each of 9 pence. In 1814, sterling was established as the official currency of the island. Since 1905, dollars have once more circulated on Tobago, first the Trinidad and Tobago dollar, then the British West Indies dollar, before the Trinidad and Tobago dollar was reintroduced.In 1798, 8 reales coins were holed, with the plug countermarked with a script letter T to make 11/2 bits coins and the holed dollar issued as 11 bits pieces. Some French colonial coins were countermarked with TB to produce 11/2 and 21/4 pence ballsweat p Author: Surhone, Lambert M./ Timpledon, Miriam T./ Marseken, Susan F. Binding Type: Paperback Number of Pages: 110 Publication Date: 2010/08/09 Language: English Dimensions: 6.00 x 9.02 x 0.26 inches

Straits Dollar $65.33 High Quality Content by WIKIPEDIA articles The Straits dollar was the currency of the Straits Settlements from 1904 until 1939. At the same time, it was also used in the Federated Malay States, the Unfederated Malay States, Sarawak, Brunei, and British North Borneo. In the early nineteenth century, the most common currency used in the East Indies was the Spanish dollar, including issues both from Spain and from the new world Spanish colonies, most significantly Mexico. Locally issued coinages included the Kelantan and Trengganu keping, and the Penang dollar. In 1837, the Indian rupee was made the sole official currency in the Straits Settlements, as it was administered as part of India. However, Spanish dollars continued to circulate and 1845 saw the introduction of coinage for the Straits Settlements using a system of 100 cents = 1 dollar, with the dollar equal to the Spanish dollar or Mexican peso. In 1867, administration of the Straits Settlements was separated from India and the dollar was made the standard currency. Author: Surhone, Lambert M./ Timpledon, Miriam T./ Marseken, Susan F. Binding Type: Paperback Number of Pages: 84 Publication Date: 2010/06/30 Language: English Dimensions: 5.98 x 9.01 x 0.20 inches

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Soft Dollar $65.33 High Quality Content by WIKIPEDIA articles Soft dollars is a term used in finance to describe the commission generated from a trade or other financial transaction between a client and an investment manager. A soft dollar arrangement is one in which the investment manager directs the commission generated by the transaction towards a third party or inhouse party in exchange for services that are for the benefit of the client but are not client directed. Soft dollars, in contrast to hard dollars (actual cash), which have to be reported, are incorporated into brokerage fees and paid expenses, which may not be reported directly. Author: Surhone, Lambert M./ Tennoe, Mariam T./ Henssonow, Susan F. Binding Type: Paperback Number of Pages: 72 Publication Date: 2010/10/15 Language: English Dimensions: 9.02 x 5.98 x 0.17 inches

A Buyer's Guide to Silver Dollars and Trade Dollars of the United States $20.05 This book offers an in-depth chronological survey of every silver dollar type, including pricing, mintages, and estimated populations, complimented by a thoughtful review of these authentic coins' histories. From the most commonly collected Morgan dollar to the silver dollar's counterpart, the trade dollar, and a new chapter on the "golden" Sacagawea, John Dannreuther's fully updated edition of Q. David Bowers' original work highlights the progress of this famous part of American coinage.

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The Million Dollar Shot $12.32 Eleven-year-old Eddie gets a chance to win a million dollars by sinking a foul shot at the National Basketball Association finals.