The morning after the American Congress votes to piss away $700+ Billion dollars, thereby increasing their already burgeoning $9 trillion national debt by a factor of 8%, an already strong Canadian Loonie… plummets 12 cents from 96US to US0.84??!@!?
Related lunacy: Canada, a country the world’s banking elite agrees has the soundest banking infrastructure in the world, decides it needs to entice it’s banks to extend credit to people that they might not normally deem to be “prime” candidates for such loans. Without parliamentary debate (remember the American senate rejected their bailout and spent another 5 days of debate before they buckled under pressure), Canada extends a 20 Billion dollar gift to their banks plus a ½ point reduction in interest (interestingly, the Canadian banks neglected to fully transfer that cut to their ailing patrons – they gave us ¼% ).