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Josh Sigurdson talks with author and economic analyst John Sneisen about the fall of the Canadian dollar as it falls incrementally from its recent peak.
For quite some time, people celebrated the Canadian dollar climbing in value under Trudeau, but they were mislead. In reality, the US dollar was losing value which made the Canadian dollar look like it gained value. That's the problem with comparing fiat to other fiat.
If the Canadian dollar stayed at the same rate as it was 5 years ago, it still would have lost value, that's what people don't seem to understand. Fiat currencies always revert to their intrinsic value of zero. They always have, they always will going back to 1024 AD in China.
So as people hype and then express concern over dips and "rallies" if you can call them that, it's futile. The dollar will fall, the fundamentals are just off the table due to the level of manipulation, so you cannot put a date on it, but it's clear that it will crumble and fall.
Following the recent rate decision by the Bank of Canada, the dollar fell from a 6 week high, but regardless of this decision, there's nothing that can be done. Print massive amounts of currency out of thin air, devaluing it, based in debt, quantitative easing into oblivion, you will always see inflation skyrocket over time and the dollar crumble at its foundation.
Trudeau has nothing to do with it just like Trump has nothing to do with it. Trudeau's a useful puppet of a drama teacher, but he can hardly tie his shoes, never mind centrally plan and implement further quantitative easing policies. It's the central banks that are in charge of the economy and the talking head leads people one way as the banking system pulls people the other way, with blind trust.
Let's learn from a thousand years of past mistakes and be financially responsible and self sustainable.
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