The Canadian dollar, the lowly ‘Loonie’, is now well over par on the US dollar. Zynga dollars may be worth more soon.
It does not feel that long ago when the Canadian dollar was worth about 60 cents. I have written about this trend since 2006 and a lot in 2007. I have had money in my homeland for years waiting for this moment. I am proud of sitting tight with this trend.
Now above par, the ‘Loonie’ feels like it could easily trade at 10-20 cents more than a dollar. Though manufacturing and exports are fu#@ked with the currency move, cities like Toronto and Vancouver will continue to see a web and start-up boom as talent gets relatively cheaper to maintain. Finally, these great cities will become start-up nirvana as they deserve to be. Maybe even Montreal.
Canadians will be driving over the border to fill up their cars with cheap oil and their driveways with cheap Porsche’s… the problem for Americans is there are 5 people in Canada and they have been doing this for 5 years so they are full up.
I remember filming this ‘Loonie’ episode for Wallstrip trying to change a $20 Canadian Bill for US Money. I got a couple packs of raspberries. Here it is:
If I went back to the streets of New York today, I wonder if I would get the same looks. It’s time to try…