The U.S Dollar really, really Hates Joe Biden: Let The Race To The Bottom Currency Wars Begin – Weak Loonie vital for Canadian trade rebound – January 13, 2021,
What I’m about to rite might leave Canadians scratching their heads, but from an economic standpoint, Joe Biden makes Justin Trudeau look like a Right Wing Economic extremist hell-bent on destroying the socialist revolution. America’s Federal Government by far is the worst run Federal Government in the world and this pre-or-post the Donald Trump era.
The Libertarians have been saying for years to END THE FED! I’ve recently joined the choir although I’m not a Libertarian, when I’m wrong, I admit that I’m wrong. Never in a million years to expect voter fraud to plague the U.S Federal Elections and via what I believe was overt voter fraud the Democrats, won the House, The Senate, and the Presidency.
Now, it’s important to remember that Trump Supporters unlike the Democrats when they lost to The Bush Administration via overt voter fraud won’t get any sympathy from the mainstream media and will instead be told to sit down shut up and wait for instructions from your new Great Leader his majesty Joe Biden, who will reshape your country in the progressive manner EVERYONE has always wanted.
Now, in Canada, we’re collectively a bunch of Leftists who understand the importance of a market economy, in Canada, we know there are penalties for printing too much money, that American politicians don’t have to adhere to. Most global transactions are done in U.S dollars and countries like Canada like it better that way because if the Canadian dollar appreciates it puts into question our trade deficits with the rest of the world.
If the world was on a Gold Standard, individuals not governments could control the flow of money thereby keeping politicians in check, with a fiat monetary system the only thing a politician needs to worry about is the cost of living! The cost of living is really a tax problem, because as an example if you inflate the housing market, most investors in the real estate space are in debt, thereby exempting them from paying taxes.
Furthermore, people in real estate don’t collect sales taxes for the government, thereby making them a net loss to various levels of government. This is one of the reasons the Singapore government as an example benefits from its nationalized housing program, but in order to do this Singapore also abandoned the MINIMUM WAGE, which has the net effect to keep housing-related costs down and shifts financial responsibilities onto the private sector.
In Canada, we have wage and price controls all over our economy and what this equates to is waging a currency war against the United States as necessary good for our overall economy. The Jean Chretien Liberals are known for CORPORTISM which is a fancy word for corporate welfare, it’s become such an acceptable practice in Canada that the SNC-Lavalin scandal against Justin Trudeau was shrugged off.
That’s just how things are a large number of Canadians bragged, so when CIBC Capital Markets Chief Economist Avery Shenfeld openly talks about a weak Loonie being good for the Canadian economy listen intently because he’s right. But try and remember that race to the bottom currency wars end with a lot of inflation.
So although the U.S dollar really hates Joe Biden, don’t be surprised if the U.S dollar has a huge rally AGAINST other currencies, while the prices of commodities that aren’t manipulated or price controlled skyrocket in price!
Interesting time ahead!