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Strategies & Market Trends : Ride the Tiger with CD
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To: pogohere who wrote (100192)12/1/2007 9:26:23 PM
From: marcos  Read Replies (1) of 312686
 
'U.S. greenback fell from close to parity against the
Canadian dollar in early 1862 to less than
36 Canadian cents (or Can$1=US$2.78) on Monday,
11 July 1864 (Chart 1).55 This represents the
all-time peak for the Canadian dollar in terms of
its U.S. counterpart.'

bankofcanada.ca

Greenbacks were a wartime measure whose chart would fall and partly recover according to perceptions of how the war against the south was going ... see the depth of it there in 1864 when confederate troops were getting close to Washington, in the form of a spike in loonie/usd ... another reason it can be argued that this is not a good example of fiat vs. real, is that it was always presumed that greenbacks would after the war be redeemable in gold, which they eventually were legislated to be ... the whole non-redeemable period only lasted seventeen years anyway, not enough time to get to zero, note however that they later became exchangeable with 'normal' federal reserve notes, on a one-for-one basis, so are now daily advancing toward that figure

Now how about the confederate fiat, once you strip out collector value ... remember Whatshername's father, in Gone with the Wind
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