NCLT Vs The Real Cnd$

Well indeed it should concern us too and for that reason I'd suspect many Canadians are reducing purchases of non-necessities including NCLT. Without taking the topic too far away, my take on it.......our Canadian dollar is falling in order to offer an increased incentive on the global playing field so that our raw materials remain an added value export, cheaper than elsewhere when bought in foreign currency, at this point in time particularly oil. Whenever global commodity prices fall that impact us, so does our dollar because as a country our primary industries are in the resource sector and due to our high wages/high taxes/regulations/bureaucracy etc global players in the marketplace choose to export and then produce products and goods in a more cost effective environment outside our borders. And yes, as Canadians we then buy the products and good back so at this time we're double-penalized because of the trade value of lowly loonie.

Secomdly many of our major companies are foreign owned, something that has drastically changed over time, so it also offers opportunity for additional attractive foreign "investment" into Canada when the value of other currency is greater than ours. As we sell, the foreign money moving in is widely perceived to strengthen out Cdn economy in general. But for the most part, there's really no alarm bells going off because we seem to have taken on a deep socialistic mindset that the government will put roofs over our heads and feed us, worse come to worse. After all, that's why they were voted in, to be responsible for heeding our needs <sarcasm intended>!

Three factors driving the Canadian dollar down. 1. Huge drop in the price of oil. If I remember correctly oil was about 15% of the Canadian economy making our currency a "petro-dollar". 2. The US Fed Reserve recently raised it's interest rate. The last move by the Bank of Canada was a rate cut. 3. Global economic uncertainty drives cash flows to the US dollar at the expense of other currencies.

Oh yes and to add, it is suggested by some that our low loonie is a good thing in preventing further job loss because foreign owned companies (not just US but China, Saudi Arabia and others) are able to pay local wages in Canadian dollars while exporting (and selling) raw materials in higher value currencies.

As an example relative to this forum, Canadian coin dealers are able to sustain their overall sales even though Canadians are likely cutting back through increased USD customers who can buy from Canadian sellers at a great discount - last I looked our dollar is worth almost half price. I'd expect RCM may be relying on the same trend. Those who are in a position where exports impact their bottom line are certainly benefited.

Very interesting you mention that, I'd never really thought about that. As it happens it's the only series I'm collecting at present because they are natural events where I live......but very true, lightening and snow, hardly what can be defined as a "phenomenon". The reference suggests the target market may not be specifically to Canadian buyers.

I do agree that a better exchange rate should strengthen the economy.

A favorable exchange rate should be used to foster labour work that increase productivity of an economy, selling valueable and limited ressources for a cheap price is not sustainable in the long run. Since years the middle east is investing heavily to attract other businesses with limited success.

Using the money from selling natural ressources to support and ensure economic innovation will be key differentiator. Minting coins for the world could be an idea... right :-)

I was going to add a political insight to this discussion in light of the Harper bashing above but I think I will leave that for the CBC and CTV political blogs.
I will add that a low currency is a sign of a country in trouble and is not beneficial in the long run as capital flees Canada for the relative safety of the USD. Since Oct 20 the dollar has dropped nearly ten per cent, hardly the vote of confidence in either the BOC or the new prime minister.
Oh well there is a bright side , 80 per cent of what we sell gets paid for in greenbacks and the monthly bills are paid in Canadian Pesos.
With the stupidity happening up here right now you might easily see a couple of things happen, the dollar drop to about 58 or 59 cents USD coupled with export and currency controls and the revival of Western alienation.
The western part of Canada is quite different from the eastern Laurentian elites and has way more in common with the bordering US states , Washington Idaho, Montana , North Dakota, and Oregon.
Now back to numismatics...........

Ours is a petrobuck. Projections of 59 cents vs. the USD have been recently made.
A barrel of western Canadian crude sold for $18 the other day, the barrel costs more.
This could go on for 10 years with Iran permitted to sell internationally.
We will build bridges and pave roads to get out of this mess. Fix that bridge in Nipigon first,
or there will be serious Western alienation.
Sunny ways my friends, sunny ways.