🚀 go-pugleaf

maw@direct.ca (maw@direct.ca) wrote:
: an214606@anon.penet.fi wrote:


: >Is this a foreshadowing of what will happen if Quebec 'Yes'?
: >The U.S. banks in Washington State will not convert Canadian
: >dollars into U.S. dollars.
: >How is the future Quebec government will assure a convertible
: >currency if they are screwing up ours?

: Don't be silly!

: Even the Canadian banks stopped trading Canadian dollars on
: Friday, to prevent a run on the dollar. You can still spend
: your Canadian looney in Washington State, but you will only
: get 65 cents on the dollar until after Mondays vote.

The reason I heard for the halt in trading by the Canadian banks was to give
their traders a break due to the volatility, uncertainty and heavy trading.
This did not and does not prevent trading in the Canadian Dollar anywhere else
in the world.  The normal exhange of currencies at the retail level by US banks
has no relationship to the high level currency trading.  It merely represents
a risk that the bills they take in on the weekend won't hold their value.  The
fact that unofficial rates are at 65 cents reflects where the dollar may end
up on Tuesday morning if there is a yes vote.
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Robert Sawatsky		All opinions are my own and in no way reflect the
			opinions or policies of MacDonald Dettwiler and
rob@mda.ca		Associates Ltd.

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