"When Mark Carney savaged the Canadian dollar, causing it to plummet by 30% in value; that meant Canadians having to pay 30% more for everything: 30% more for our grocery bills, 30% more for fuel, 30% more for our homes, etc. But destroying a currency can be defined in a different manner. It’s also a stealth means for our (corrupt) governments to steal our paycheques . "

Usually I agree with this author's artcles, but I currently take exception to the above.

What he writes would only hold true if we as Canadians were importing everything we consume, and imporingt that solely from the U.S. Although the US is our largest tradng partner by far, he overstates the case since in 2013 for example, the USA constituted just over 60% of Canadian imports.

What is equally important (which he has in fact discussed in many other articles, but not above ) is the stealth government tax which all modern governments engender via inflation which arises from their respective rounds of money creation/quantitative easing- a process which is the lifeblood of all fiat-based economies. Governments will spend to ensure their continuity. Anything such as a reintroduction of a gold-like standard (i.e. a basket of commodities) will bridle that abilty to spend at will-surely a situation which would be ananthema to their survival.

One theoretical advantage from the low value of the Canadian dollar would be for those Canadian gold miners operating in Canada , and selling their product in $US. Perhaps there are some other similar examples, but even in those instances the benefits may be outweighed if those same companies are importing their machinery and/or other CAPEX/OPEX from the US.

Cheers,

Luker