Is Canada in An Economic FreeFall? Where Will The Canadian Currency Fall To? History Always Has A Sense of Repeating Itself.






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; Jan. 24, 2025
——–The Currency Korner——–

The Way I See Things

Volume 1 Issue 4

“Economic disaster begins with a philosophy of doing less and wanting more.”                             

   – Jim Rohn

 

Good morning,

This past Monday was considered the most depressing day of the year. I was born and raised in Canada, and like many of my friends and relatives, we are first-generation Canadians. When I was growing up, the average family was about three (3) kids per household. Mothers stayed home while Fathers brought home the bacon, and Mom would fry it up in a pan. 

Before my birth, at the tail end of the baby boom generation, people escaping war-torn countries sought opportunities to reestablish their lives. The United States and many Common Wealth countries, including Canada, were considered the land of milk and honey. Many provided a chance to build a future for a family, while their enthusiasm for work helped develop economic growth, which ultimately generated massive wealth. 

I once read that the most successful people in society are the ones who came from strife. They experienced hardships far beyond what the imagination could ever fathom. Nonetheless, when coming to a country where the native language was incomprehensible, communication became even more difficult. 

Often, new immigrants relied on those who came before them for assistance. Of course, not everyone experienced a bed of roses in their journey, but the bad experiences made them even more motivated to improve their daily lives. It was a time when countries in their infancy allowed the imagination of hardworking ingenuous men and women, to create the impossible. Employment was plentiful even though working conditions might not have been ideal. Many skilled workers established businesses that have become institutions in their expertise. 

People worked with purpose and saved. Many weren’t exposed to credit facilities and mortgages were next to impossible to obtain especially for new immigrants. In actuality, the founder of Bank of America, Amadeo Peter Giannini offered loans to immigrants on a handshake. Imagine that happening in today’s world. 

From my experience, my generation was very fortunate. We were the offspring of immigrants who came from nothing and understood the value of a dollar. In many families, the parents sacrificed everything to provide any advantage they could afford with education being the top priority. 

Consequently, the second generation has grown with a sense of entitlement. Many blessed to have children have provided the world so their kids won’t be ostracized by their peers. Unfortunately, the value of money is not a concern when a line of credit can ease and mask the facade of reality. 

Today, the cost of living and taxes have created uncertainty hovering over our heads. The People in Canada are being taxed to death. A brain drain is in effect, and massive wealth is being transferred abroad, especially by those with the means to do so. Faith in leadership is nonexistent, and the Modern-Day Trojan Horse has held this country for ransom.

As a result, the quality of new immigrants is not of those who possess skills or monetary value but rather people with minimal skill sets and no financial wealth to establish themselves. Many become wards of the state, provided with benefits that even a taxpayer isn’t entitled to. Yet they fill the positions of jobs many of our entitled children aren’t willing to do.  We really can’t blame those who are here illegally because if it wasn’t for them, who would be doing the medial work that needs to be done? For many able Canadians, any type of job that is low paying is beneath them because they have grown up spoiled. 

The Canadian Economy is in a complete tailspin and downfall. We need to encourage our people to work and become productive. Providing incentives like keeping more of one’s paycheck could be a good beginning. The National Deficit, which was supposed to have a hard ceiling of $40 billion, ended up at $62 Billion. Those responsible are now running away, blaming others for their incompetence. Enough is enough! It is time for a new direction and competent leadership to bring exuberance back into our souls, plus giving people, especially the youth, a sense of purpose combined with dignity.  

Click below as this video articulates where the Canadian economy and the Canadian Dollar are headed: 

https://vm.tiktok.com/ZMkQ1Mqxf/

Then you can take the time to listen and watch this as it reflects Trump’s ambition to make Canada the 51st state: 

https://youtu.be/o59eOyOEv5U?si=WJl3GbuuwlvGC0yZ

Lastly, the USD Index remains firm just below the 108.0 level. Currencies have gained a little strength as the Canadian Dollar remains in the 0.69cent range. On the other hand, Oil dips below the USD$75/B level, expecting this price to come down more rapidly. Meanwhile, Precious Metals remain strong as Gold approaches the USD$2800/oz level and Silver in the USD$31/oz vicinity. Even Bitcoin remains firm in the USD$105k/coin vicinity. 

Please pass it on as I can always provide the most advanced services, knowledge, efficiency, expertise, and integrity. Referrals are welcomed and greatly appreciated.

… Don’t Forgetta bout Me!!!!

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

Contact Me Direct via email at phil@aloris.ca

Don’t Forgettaa about 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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