Yesterday, I attended our family G-7 meeting as we entombed my Uncle George with seven pallbearers. He was 91 and left this chaotic world peacefully in his sleep. He was a Master Cabinet-Maker and could bring a piece of wood to life. Probably, the Geppetto of his era, as his artistry left people breathless. The genius within made him seem stubborn to others, but he only represented the label of hard-headedness, a trait common among people from Calabria, Italy. 

Like most of his era, they came with nothing in their pockets other than a strong work ethic. Most came to Canada after World War II, with skills as Tailors, Cabinet makers, Hairdressers, Shoemakers or Farmers. Yet many of the men ended up in the construction trade while the women stayed home to raise their families. They fought to improve working conditions and wages for all. At times, they even sacrificed their dignity to improve their own family’s plight. It was their determination and sacrifices that improved conditions for many, especially in the trades, today. 

It seems the older we get, the more experienced we become. When people of his era retire, they seem a little more patient, especially when grandchildren or even great-grandchildren arrive. I assume it is a way to correct the errors of their ways with their own children and disciplinary tactics. Maybe trying to make a wrong, a right once again, but let me tell you, most of those kids, disciplined, did ok in their own lives. Being the last of the men, on my mom’s side, leaves all the ladies as widows. Now it’s time for their children to step up in a good, caring way. 

Speaking of stepping up, Canada hosted the economic G-7 meeting in Alberta, Canada. President Trump was the main attraction as the host was more of a pylon in a suit. Nonetheless, Canada committed another $4.3 billion to Ukraine while Canadians are facing their economic challenges. No debate, no Canadian taxpayers’ opinion, just money sent to be laundered and distributed for the benefit of whom? It is appalling! 

With the Israeli-Iran war as the focal point on global tensions, a concern that the Americas could be drawn into a military conflict, against their will. Trump needs to remain disciplined in his position not to draw Americans into endless wars, this being his signature. Pressure is mounting, and the USD is now seen as a safe-haven while the USD Index breaches the 99.0 level. 

Meanwhile, the Bank of England (BOE), reeling in the aftermath of Net-zero initiatives brought on by their former bank governor, Mark Carney, now the Canadian PM, is reeling in their doo-doo with inflation surging at 3.4%. The BOE left interest rates unchanged, thus widening the gap between the European Central Bank (ECB), unelected policy makers. 

Consequently, currencies are taking it on the chin as the Euro, GBP, and CAD give back some of their recent gains. With renewed USD strength, Precious Metals ease toward the USD3360/oz range but remain firm. On the other hand, Oil surges above USD$75/B as the rhetoric of conflict continues as the driver in volatility. Despite the strength in Oil, the CAD falls hard below the 0.73 cents level, more or less on USD strength.