$.70455 03/17/20

[gevarm guy]

Is there another institution out there you guys are using that pays more than the big bank rates to exchange usd for cdn dollars???

[Ken07AOVette]

There is knightsbridge but nothing local for me

[Ken07AOVette]

Originally Posted by Ken07AOVette

I picked a number- $8,114.00 USD

Been using it for a year now, was as low as 10,460.00 at one point.

8,114USD = 11,073.15
CAD
1 CAD = 0.732764 USD
1 USD = 1.36470 CAD

11166 today

Made $90 by waiting 1 day

[Cement Bench]

1/2 now and half later that way you minimize any loss

Jeff

[Ken07AOVette]

Originally Posted by Cement Bench

1/2 now and half later that way you minimize any loss

Jeff

Good point- but I think I will hedge it until .70c and cash out. I have less than zero interest in any US trips anytime soon

[Arty]

Originally Posted by Ken07AOVette

I am sorry- I read this every way but upside down, and I can not figure that out

H'okay.

SDS is a double inverse index ETF. For every move the s&p makes downward, the sds goes up double that amount. So it's good to have at the start of a crash.

A bear put is a kind of financial 'spread' built with put options. With it, you speculate that some underlying stock (or ETF in this case) is going to drop, particularly from the crest of a big runup. But you are limited to how much you can lose or how much you can make. You cannot get killed with it. You have to have good reason to believe the underlying will drop however (or in this case would be at the point that the s&p has crashed as far as it will). When the s&p starts chugging back up again, the SDS slides down the mountainside. That's when you want to have a bear put spread.

If you are right because you figured out when people are as scared as they are going to get, then you can make some profit to exactly a calculated amount. If you are wrong and the market keeps crashing further, you know exactly what your maximum hit will be.

It's better than buying (going long) the SPY index ETF, because you can potentially profit much more, dollar for dollar. And if you are wrong after buying that SPY you'll never know if/when it will just keep on crashing and what you will do when you see you money going bye-bye. Any loss with a bear put spread will be capped and known exactly, well in advance, so you won't panic if your educated guess is wrong. But of course you have to get the direction correct at least, which is not too hard to do after a big, long crash when the dust is settling.

To get into the position up front (using put options) you have to pay into it. At expiry of the position, you get paid out all that and usually much more. But the brokers being what they are, they want to see you having enough cash in an account to cover that limited, known, calculated maximum loss. That's what hanging onto the US bucks is for, so you can take a position when the dust is settling and it looks like everybody was really dumb for selling so low in a panic.

[Ken07AOVette]

Interesting, thanks Arty


I have never invested, never got rrsps or mutuals, never played stocks at all.

My way is zero risk and of course same rewards.

I have lots of time on my hands being self employed so I do a lot of buying broken, fixing and selling after repair. I have recently gotten into heavy equipment, and that has been very good.

Playing the dollar against it self is the only 'risk' I have taken with money. I have missed a couple real good lows, but looks like 70c may be coming at which time I will cash out.

[Ken07AOVette]

8,111usd =
11,194.61
cad
1 cad = 0.724545 usd
1 usd = 1.38018 cad

[Ken07AOVette]

Another $28, just need to hit .70c then rebound to par and I will buy a hundred thousand USD

[Ken07AOVette]

The banks in Lloydminster want 2.5c/dollar to buy american money, that is already sitting in their bank, after I bought it from them.

[sweld]

I just got $2000 us on Monday. It was $2788 cad.


Sent from my iPhone using Tapatalk

[fishtank]

bitcoins is on sale now about 30% off

[Ken07AOVette]

Originally Posted by fishtank

bitcoins is on sale now about 30% off

LOL!!!

down down we go

8,114USD =
11,305.78
CAD
1 CAD = 0.717686 USD
1 USD = 1.39337 CAD

[Ken07AOVette]

I went into my bank today to cash out my $USD for $CAD.

When I bought USD they told me if I bought $10,000 I would get a better deal.

So I bought $10,000.00 and iirc it was $12,250.00 at the time. They charged me just over $350 for the service.

They wanted over $300.00 today to sell me back my $CAD. I told them I wanted my $USD in cash, and they fought bitched and whined. They said they would do the transfer for $180.00 because I was cleaning out all their yankee money. I said Knightstbridge wanted under $100 for the same amount.

Back to another manager, had been about 15 minutes standing at the counter already. By that time when I checked xe.com it had come up another $65.00.

"Why do you want cash? Why not a draught? Can we transfer it somewhere for you? What are you buying?"

They sure do not want to give my money to me, that I bought from them.

I cleaned out my account, now will wait for .70c and do a knightsbridge transfer I guess. I think this will NET me another ~$600+ anyway.

I hate banks. If I traded from US to CAD every day at some point there would be nothing at all left, and the bank did nothing but move a decimal point and change some numbers on the computer, for $300.00 in 4 seconds work.

Man the dollar is volatile today.

8,114USD =
11,314.39
CAD
1 CAD = 0.717140 USD
1 USD = 1.39443 CAD

[gevarm guy]

if you walked into the TD bank up to the teller (if they have any) and ask to buy 5000.00 US dollars it will cost you 7173.00 cdn.
Take you 5000.00 usd and move one teller over, say you want to cash in your 5000.00 us dollars for Canadian and you get 6792.00.

and that's why you buy bank stocks....lol

[Ken07AOVette]

9:56am

8,114usd =
11,326.22
cad
1 cad = 0.716391 usd
1 usd = 1.39589 cad

[Ken07AOVette]

I called my bank this morning, to ask about cashing in Yankee money. They are charging another 1% more, after our dollar dropped 1 penny. Wow.

[Dean2]

Originally Posted by Ken07AOVette

I called my bank this morning, to ask about cashing in Yankee money. They are charging another 1% more, after our dollar dropped 1 penny. Wow.

If you check Knightsbridge you will see their spread is increasing too. Anytime the dollar is this volatile they are going to increase the spreads so they don't lose on their aggregated transactions when they settle mid morning and mid afternoon.

[Ken07AOVette]

Originally Posted by Dean2

If you check Knightsbridge you will see their spread is increasing too. Anytime the dollar is this volatile they are going to increase the spreads so they don't lose on their aggregated transactions when they settle mid morning and mid afternoon.

Went to sign up today, when they demanded a pic of my drivers license and copy of my bank account statement I chose not to.

[Dean2]

Originally Posted by Ken07AOVette

Went to sign up today, when they demanded a pic of my drivers license and copy of my bank account statement I chose not to.

They have no choice but to get those things. For money laundering legislation they have to prove the applicant is you and they also need to prove you have an existing Canadian Bank account, one - to be able to transfer money back and forth as you can't just walk into their offices and give them cash and two - to meet the rest of the Fintrac requirements.

[waldedw]

Changed mine on Friday got $1.3925, if it goes lower OH well such is life,

[Twisted Canuck]

Ken, I will trade you 1000 rounds of .223 for your US $.....that's gonna look like the deal of the year in a couple weeks, you don't want to think about this too long....here for you buddy.

[Ken07AOVette]

Originally Posted by Twisted Canuck

Ken, I will trade you 1000 rounds of .223 for your US $.....that's gonna look like the deal of the year in a couple weeks, you don't want to think about this too long....here for you buddy.

Feeling the love, but if all else fails I can trade it for Cdn money, which I can use for toilet paper if it goes low enough. 12,000 pieces of tp!!!

[Ken07AOVette]

5:03

8,100usd =
11,332.56
cad
1 cad = 0.714754 usd
1 usd = 1.39908 cad

[Ken07AOVette]

wow a full cent drop overnight

this is not good

8,109USD =
11,494.83
CAD
1 CAD = 0.705448 USD
1 USD = 1.41754 CAD

[drake]

Originally Posted by Ken07AOVette

wow a full cent drop overnight

this is not good

8,109USD =
11,494.83
CAD
1 CAD = 0.705448 USD
1 USD = 1.41754 CAD

Thanks for the heads up.

[j335]

Currently there is a US dollar shortage and CAD economy is in real bad shape. This exchange rate is gonna keep going up.

[Dean2]

Originally Posted by j335

Currently there is a US dollar shortage and CAD economy is in real bad shape. This exchange rate is gonna keep going up.

There is no shortage of U.S. money. Their Fed is creating it like it was toilet paper. Arguably, the Canadian economy will recover a lot faster than the U.S. The reason the Canadian dollar keeps dropping is the flight to the supposed safety of the greenback, no matter how delusional that actually is right now. Given the deluded market there is no downside to sitting on any Yankee dollars u have.

[waldedw]

Wander if we are going to see it get back to where it was in 2001 - 2002, I was living and working overseas then and we were paid in USD, there was times we were getting $1.60 exchange at our bank in channel islands, when it got back to $1.40 and then $1.25 we felt like we were being robbed

[j335]

Originally Posted by Dean2

There is no shortage of U.S. money. Their Fed is creating it like it was toilet paper. Arguably, the Canadian economy will recover a lot faster than the U.S. The reason the Canadian dollar keeps dropping is the flight to the supposed safety of the greenback, no matter how delusional that actually is right now. Given the deluded market there is no downside to sitting on any Yankee dollars u have.

While the US government is printing money like crazy why is the dollar is going up? Shouldn’t it go down? US cash margin calls happening across the world.
Dollar shortage is happening right before our eyes... Where is the safety of the world? Euro is in shambles... CAD economy is already into a recession.