SkiFreak Posted September 27, 2007 Report Share Posted September 27, 2007 So our Canuck buck is pretty much at parity with the US dollar now. How do you think this will effect the Olympic Games in 2010? What about the lead-up to the games with construction still going on at various venues? How do you think it will affect the final cost of the games? Discuss. Link to comment Share on other sites More sharing options...
mr.x Posted September 27, 2007 Report Share Posted September 27, 2007 construction costs will continue to go up, but not by much. at this point, it's more or less set. i'm not so sure about inflation on the operations costs.....for sure, they'll go up as well (as history tells us for each Games) but by how much? probably not too much, and 2010 security is covered by the governments and military so that isn't something VANOC has to really worry about. what i'd like to know is how are those sponsorship and tv rights dollars flowing. For example, NBC payed US$800 million to the IOC to cover 2010 and VANOC is getting a good fraction of that as part of the IOC's sponsorship/tv rights revenues deal that'll go towards the VANOC treasury. Does the IOC handle all of its money in US currency? Link to comment Share on other sites More sharing options...
Kenadian Posted September 27, 2007 Report Share Posted September 27, 2007 To be honest, I think minimal. Most of the costs and suppliers are local. Doubtful it will also hurt ticket sales or visits from American tourists. Those that can afford to go will go regardless of a few cents on the dollar, those that can't weren't going to go anyway, and those what want to go no are just going to have save up a bit more. Of course, things could change quickly. Wasn't so long ago that people were complaining the Canadian dollar was too low (~65 cents). Link to comment Share on other sites More sharing options...
Sir Rols Posted September 28, 2007 Report Share Posted September 28, 2007 Well, it sounds like bad news for at least one BC export: VANCOUVER, British Columbia, Sept 27 Reuters - The strong Canadian dollar has hit the illegal marijuana sector just as it has other industries that export to the United States, one of Canada's best known legalisation advocates said today. But western marijuana growers have also benefited from Canada's strong economy, especially the booming Alberta oil patch, which has increased domestic consumption, according to Marc Emery, a founder of the British Columbia Marijuana Party. The Canadian dollar touched parity with the US dollar last week, topping a rise of some 60 per cent over the past five years. Today, it was still hovering around par, at $C1.0014 to the US dollar or 99.86 US cents. A stronger loonie - so called for the bird engraved on the one dollar coin - has cut the profit of selling potent ``BC Bud'' marijuana in US markets at a time when producers in Canada struggle with tighter border security and competition in the United States with pot from other sources. Top quality Canadian pot is selling for $US3,500 a pound in the United States, compared with C$2,400 in domestic markets, according to Emery, who is also editor of Cannabis Culture magazine and fighting extradition to the United States. ``When you factor in all the risk and transportation, that (higher export price) is not a big deal any more,'' said Emery, adding that when the Canadian dollar was weak exporters could double their money selling into the United States. US authorities seized 26,414 kilograms of marijuana in northern border states in 2005 compared with 11,546 kg in 2001, according to the US Drug Enforcement Administration's latest National Drug Threat Assessment. A study in 2004 estimated the street value of British Columbia's annual marijuana crop at more than C$7 billion, which would make it one of the western Canadian province's largest industries. Simon Fraser University economics professor Stephen Easton, who authored the 2004 report, said there has been no specific study of the impact of currency on drug exports but it should be the same as with legal exports. ``Basically, what happened is the cost of producing the stuff went up in US dollar terms,'' said Easton, who is planning to further investigate the issue. Emery said Canadian marijuana was also facing price competition in the United States from Mexican-grown pot, which had benefited from a relatively weak peso, as well as increased domestic production in the Western US But a healthy Canadian economy had allowed marijuana producers to sell more at home. ``They're making a lot of money on those oil rigs, and everywhere Canadians are making decent money they are doing a lot of drugs,'' Emery said. Canadians have the highest rate of marijuana use in the industrialised world, according to a United Nation's study released in July. Link to comment Share on other sites More sharing options...
Kenadian Posted September 28, 2007 Report Share Posted September 28, 2007 Ha ha ha! Of course! Link to comment Share on other sites More sharing options...
Techno Dragon Posted September 29, 2007 Report Share Posted September 29, 2007 Dollar closed above parity, at 1.0052, and hit an intraday high of 1.0088. It'll be interesting to see if the BoC slashes interest rates to curtail the dollar, or stand pat and let the dollar continue to soar.... Link to comment Share on other sites More sharing options...
mr.x Posted September 30, 2007 Report Share Posted September 30, 2007 how long will this last? it has to fall sometime......right???? Link to comment Share on other sites More sharing options...
SkiFreak Posted October 1, 2007 Author Report Share Posted October 1, 2007 how long will this last? it has to fall sometime......right???? I wonder how the outcome of next year's US elections will affect our $. Link to comment Share on other sites More sharing options...
Guardian Posted October 1, 2007 Report Share Posted October 1, 2007 I wonder how the outcome of next year's US elections will affect our $. There is one major problem with that: the credit crunch in the US. Some economists there in America have started to say that property values may go down overall in 2008. Also, the "R" word is now in the cards. Never mind that, according to some world ones, demand for energy will still be sustainable or even go up over supply for about 5 more years. Guess which countries in the world has energy sources, like crude and natural gas, have "ample supply" to give to a "thirsty world?" Link to comment Share on other sites More sharing options...
Techno Dragon Posted October 1, 2007 Report Share Posted October 1, 2007 There is one major problem with that: the credit crunch in the US. Some economists there in America have started to say that property values may go down overall in 2008. Also, the "R" word is now in the cards. Never mind that, according to some world ones, demand for energy will still be sustainable or even go up over supply for about 5 more years. Guess which countries in the world has energy sources, like crude and natural gas, have "ample supply" to give to a "thirsty world?" Recession, and whats amazing is that Canada's economy isn't going down with the States like it has in the past, thats one of the reasons why the dollar continues to climb. And, its interesting to note that basic metals like nickel, copper, palladium etc are also very very high. For Canada's economy to take a hit, everything would have to decline, and so long as the wars in Afghan and Iraq continue to go, the dollar will stay high, maybe not this high, but definitely I don't foresee it going below 90 cents anytime soon. Noon rate was 1.0069, could very well eclipse 1.01 by the end of this week. I believe it is next week or the week after that that the BoC meets to discuss the interest rates - thats the next time the dollar could take a big hit, as there some thoughts they might drop the rate by a quarter point to force the dollar to drop to relieve the manufacturing and export sectors. Whether or not that happens remains to be seen. That'll be a very interesting day. Link to comment Share on other sites More sharing options...
Guardian Posted October 2, 2007 Report Share Posted October 2, 2007 During last weekend, the rate was actually $1 US = 99.12 cents Canadian. I had a major deal in one of my eBay purchases from America. Link to comment Share on other sites More sharing options...
Faster Posted November 8, 2007 Report Share Posted November 8, 2007 palladium is not a basic metal, it is one of the most expensive substances there is. Link to comment Share on other sites More sharing options...
Guardian Posted November 10, 2007 Report Share Posted November 10, 2007 Well, talk about the Canadian dollar having mood swings. At one point, it was at US$1.10! From where I live, there were line-ups at some currency exchange areas to buy American greenbacks. So much so that some of them ran out of the cash. As of right now, it is staying at around US$1.06. However, how about the Australian dollar? It seems that it could head toward parity with the American greenback, too. It is around US$0.91 right now. Link to comment Share on other sites More sharing options...
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