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The Currency Korner        
By -The FX Specialist-
Philip J. Magnoli

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FX Specialist Insight
-brought to you by Philip J. Magnoli
 An expression of thought; February 16, 2022
——–The Currency Korner——–

The Way I See Things

Volume 2 Issue 3

“A Tiger doesn’t lose sleep over the opinion of sheep!”   – Annoymous
 

 
Good morning,

Happy Belated Valentines Day to all. History continues to be made. The past two years have been difficult, to say the least.  Mandates and lockdowns have taken their toll not only economically but emotionally as a transformation in commerce have exploded with more online purchases and digital exchanges of payments. Human interaction has been minimized as masking and social distancing promote more fear than actual safety.  Real science clearly speaks volumes if one analyzes it properly.

In Canada, the Freedom Convoy movement has spread World Wide with admiration. The protests have been peaceful and loving, bringing people together from coast to coast without prejudice of race, colour or creed. A united show of solidarity simply asking to resume life as it was without divisive restrictions and the abolishment of tracking devices on individuals. In my opinion only, it has been a beautiful sight to witness people taking proactive action, to be heard when those that are governing act with a sense of entitlement and have lost their moral compass. 

The truth is simple and if you would like to listen to a presentation from Mr. Jordan Peterson, a well-respected Professor from Canada, then I invite you to listen for yourself. The real objective without distortion from false assertions by government or mainstream media.

Click here to understand the truth of the movement;

https://youtu.be/P8tzXazvyHQ

After listening to the purpose, I hope it brings clarity to those disturbed by what they consider inconveniences. Canadians, in general, are considered passive in nature. We usually watch clips of Europeans fighting in the streets or watch live streams in Hong Kong or places like Venezuela where social disobedience gets stifled with the use of military force. Will this happen in Canada?

This is how I would respond when anyone would complain about being inconvenienced

My friend,  named John Wayne Faught sacrificed his life in Afghanistan as a Canadian Soldier. He protected the soldiers under his watch that were half his age. He believed in Freedom and liberating the people of that country and did so without complaint. He mentioned horrible acts of violence that took place and are too horrific to mention. He served 4 tours of duty in hot spots around the world. The last three were in Afghanistan. Never once did he complain about his mission, as many soldiers never do, as their purpose is the pursuit of peace and liberty for the benefit of the people they defend.

In fact, do any of them complain that there aren’t any toilets on the battlefield? Do any of them complain that there isn’t a comfortable bed to lay and rest in? Do they complain of eating cold canned food or protein bars as meals? Do they complain of drinking warm water from a canister or needing to find water when they run out? Do they complain about the munitions they carry that could be heavier than their body weight? Then why would anyone complain of inconvenience when Freedom and our way of life are at stake? Our Canadian Soldiers as did many warriors around the world died for the lifestyles we enjoy today. Let’s be respectful of their sacrifice and realize they did not die in vain!

This Pandemic has surely been destructive to the small business owners accumulating debt and destroying their livelihood. Yet Big Box Stores, Liquor, Cannabis and other deemed essential businesses remained open when others were shut down. What was the difference in the venue even after the small business owner had to spend money to comply but was not able to operate?

Recent GDP numbers showed a surprise deficit of $0.14 Billion,  in Canada, when the market expected a Surplus of $2.5Billion. Even though The Bank of Canada (BOC), is concerned about inflation, the Country is in a difficult situation as the Unemployment rate increased by 0.5% (6.5% from 6.0%) which is significant. Today annual CPI a barometer of inflation registers at 5.1% vs expected (4.8%).

The BOC believes the Supply Chain issues have peaked but I beg to differ as the Trucker protest will have a significant impact on GDP moving forward and yes a detriment to the economy. The Solution is simple, repeal the Mandates as stipulated in the clip above and everyone goes home and we get back to being the envy of the World and back to productivity. Any decision that is made against the only solution, then one need only follow the money and the science that suits the narrative of government compliance. Canada has a lot of work to do to get out of the massive deficits threatening to bankrupt our Nation. 

Another hot spot affecting the Global Economy is the game of smoke and mirrors in the Russia/Ukraine conflict. This has single-handedly caused Oil to spike. In simple terms, the Sabre rattling revolves around Ukraine’s decision to join NATO, a military partnership.  The Russians do not want nuclear weapons along its border but I am sure there are more scrupulous reasons, namely the trade of Oil. We, the common folk, would never be privy to the real reason but for some reason, I think Oil is a common denominator.  Consequently,  Western Society in the form of Government policies is directly destroying the most productive sector of the economy and further fuelling inflation with the imposition of Carbon Taxes. Meanwhile, Oil needs to come from somewhere as it is the main source of energy driving our economies. Other countries are enriching themselves and benefiting others while high-paying jobs are lost where they are needed most.

Distractions of war are diversions to domestic issues. The next big event is underway and it is the Convoy of Freedom rolling in The United States, heading to Washington, D.C. A nightmare, for the Administration potentially putting the whole economy at risk. Even though USA Retail Sales grew by 3.8% in January expected (2.0%).  A shutdown, of commerce and the supply chain, will have long-lasting and potentially devastating if not catastrophic results.  The price of Oil remains volatile and stands around the $92/barrel level pushing the Cad$ toward the 0.79 cent level. The other factor is that the USD Index has dipped below the 96.0 level. Currencies are stronger and Precious Metals continue to appreciate. Gold is above the $1860/oz level and Silver is steady in the $23.50/oz range. All indications, versus the USD.

Lastly, Love and Peace will prevail destroying the Evil that lurks amongst us. Protect your family and let’s get back to normal by respecting everyone with a smile and kindness. Canadians have set the tone through peaceful demonstrations regardless of what others may tend to believe. The Truth will Prevail!

Pass it on as I am always available to provide the most advanced foreign exchange services and knowledge, efficiency, expertise and above all integrity. Referrals are welcomed and very much appreciated.
… Don’t Forgetta bout Me!!!!
.The Don of a New Day!

Foreign Exchange Service is my Specialty.
Direct# 416-992-7765

Contact Me Direct via email at phil@aloris.ca

Don’t Forgettaa bout Me!!!!

Sincerely,
Philip Magnoli – The FX Specialist-

Direct:     416-992-7765 
Email:    phil@aloris.ca          

Opinions expressed within are that of the author alone and do not reflect in any, way, shape or form, any Company I choose to associate myself with. This is the intellectual property of Magnoli Financial Services Corp. www.donfilippo.ca 

 

 
 
 

 
 
 

 
 
 

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