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Steve MacLellan
November 10, 2007, 09:42 AM
China has "threatened" to dump its dollar holdings if the US tries to push too hard to get any kind of "trade parity" with China. That would send the dollar plunging - for the average consumer, it means the price of anything that's imported would skyrocket (that includes oil)...

Some say China is already slowly selling its US dollar reserves - or if it's not China, then some other countries which hold US dollars are. According to some, they may be buying gold - the price of gold is going up...

Is it a good time to buy gold, to preserve the value of your assets? I'm not an expert in these things, but it's something to think about and maybe research further...

From my trip to the bank yesterday, I see many fellow Canadians are buying up American currency. Who knows? Might be as good as gold...

History shows countries involved in wars typically go through a period of prosperity after the war, so if/when the exchange rate goes back to what it was in 2000/2001, owning currency in American dollars could be beneficial.

Steve MacLellan

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