by 
Anonymous
ANSWERS: 7
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Aaaahhhhhhhhhhhhhhhhhhh! It's the end times!!!!!!!!!!
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Sad event. What would happen to my few savings? =(
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It shows that our economic policies since the Reagan administration have been a complete failure. Our economy has been in a downward spiral against the rest of the world ever since.
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The value of any currency is a credit rating. Canada is not fighting a major war, spending as much on foreign aid, or financing as many internal projects as the U.S. In other words, their budgeting is superior to the U.S. They are not living on their credit. pts for the Q!
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Nothing new about that. The Canadian dollar was higher than the US dollar in 1974 too. Canada is perceived in the wider world as having a more stable economy than the US. That may or may not be a true perception, but it's the basis of a assigning a higher value to the $Can.
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Suddenly my spare change collection has become a little bit more valuable with the sparse number of Canadian coins mixed in it.
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Right now the US dollar has a higher value than its Canadian counterpart: 1 USD = 1.03423 CAD http://www.xe.com/ But I remember the Canadian dollar has indeed surpassed the US dollar in the past. That's okay. Canada is also a prosperous country like the USA. Canada is one of the seven "Major Advanced Economies" mentioned by the International Monetary Fund on its website: http://www.imf.org/external/pubs/ft/weo/2008/01/weodata/groups.htm#ae
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