Quote:
Originally Posted by Cowboy89
You can't use rates from when the exchange rate was pegged or under the gold standard for purposes of comparison. You can only use rates from 1970 onwards when the dollar was allowed to trade freely. That average is much below 0.98! You're right the 90s was low, but today is high.
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High? Based on established rates since 1970 on? That's meaningless. The US has not faced an economic sh**storm like the one they are in now since the Depression. US currency would be a lot lower except that it benefits both from being the global reserve and the currency of exchange for oil and other commodities.
Standard and Poor's has put a negative outlook on the US's AAA credit rating. The Chinese are holding over a trillion in treasuries and are selling them at a furious pace to purchase commodites. US states like California, New York and Illinois are bankrupt.
The last thing Canadian owners in the NHL have to worry about is the Canadian dollar. It's got its own set of problems but is a rock compared to the Euro and the US dollar.