avt007
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US Money- Perceptions

Fri May 02, 2003 12:15 pm

I'm a Canadian living in Canada, but working overseas. When I tell people in Canada that I'm paid in US dollars, they inevitably go "Wow, that must be nice".
Why is that? Why are US dollars perceived as better? Frankly, I'd be happier to be paid in Canadian dollars. All my bills are in Cdn, and I wouldn't have to run around looking for the best exchange rate. Not to mention the fact that the US dollar is falling, and I take home 10% less now than a couple of months ago. But this perception carries on, and I wonder why.
 
N312RC
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RE: US Money- Perceptions

Fri May 02, 2003 1:11 pm

Why is it better? Your American dollars go farther in canada than canadian dollars do.. Why? its worth more. The American dollar is always worth more than its canadian counterpart. I know people who specifically drive 1.5 hours to work everyday in the US but live in Canada, just to take advantage getting paid in money thats worth more.
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avt007
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RE: US Money- Perceptions

Fri May 02, 2003 1:17 pm

The problem is my US dollars DON'T go farther.... I've lost 10% on the falling US dollar. My point to people is that there is NO difference between US, Cdn, British pounds, etc. They are all just numbers in the end. If you offered me $100US, or $143Cdn, I'd take the Cdn because it more useful to me in that form, but otherwise, it is exactly the same thing. It's not like my employer said " you can have 1,000 dollars, would you prefer US or Cdn?"
 
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RE: US Money- Perceptions

Fri May 02, 2003 1:21 pm

Your American dollars go farther in canada than canadian dollars do.. Why? its worth more.

Not at the moment it isn't. The same as here in Australia. The Aussie Dollar is currently sitting at a 3 year high against the USD. 1 AUD = 0.63 USD.

I am now being paid in USD, and it is going to hurt me if the Australian economy keeps on a strong course, and the American economy stays in the shits. I am thinking of asking to be paid in either GBP or EUR. Particularly the Euro, it is strong, it is staying strong, and I don't see that changing in the short-medium term.

And as Avt007 mentions, once you have that USD, you need to find somewhere which will exchange it. Not a problem in reality, but reality also dictates that you will be offered a much lower rate than the interbank rate which we are used to see when we see currency exchange rates, and then a commission fee on top of that (although you can inevitably find somewhere which doesn't charge commission).
 
delta-flyer
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RE: US Money- Perceptions

Sun May 04, 2003 1:07 am

Aviatsiya....it's nice to have a job where your employer pays you in any currency you desire.

Pete
"In God we trust, everyone else bring data"
 
desertjets
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RE: US Money- Perceptions

Sun May 04, 2003 4:27 am

Wouldn't your bank give you the best overall rate when you deposit your paycheck (or gets transfered if you use direct deposit) into your bank account?

AVT... is your take home pay greater in US$ than it would be in CDN$ at the moment? Or is it that if you got paid in equivilant CDN$ you would be better off since that currency, while not doing so hot, is not loosing ground?
Stop drop and roll will not save you in hell. --- seen on a church marque in rural Virginia
 
avt007
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RE: US Money- Perceptions

Sun May 04, 2003 6:12 am

My bank does not give the best rate, I go to a foreign currency exchange company. They seem to beat all the banks. Today I sold USD at the rate of 1.4075, that is, for every $1000 US, I got $1,407.50 CDN. Last year it was much more, so while the Cdn dollar is getting stronger, my pay is falling. Right now the loonie (as the Cdn dollar is affectionately known here) is worth about 70 cents US and the experts say it go to 75 or 80 cents in the next few months. If I was paid directly in Cdn funds, I wouldn`t be losing out, and I wouldn`t have the hassle of exchanging either. Maybe given the rates today people will start offering me condolences rather than congratulations.  Smile
 
airplay
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RE: US Money- Perceptions

Sun May 04, 2003 6:44 am

Anyone who has shopped in Canada and then travelled to the US knows that for the most part the Canadian dollar has as much buying power as the American dollar. The big difference is that in the US you are being overcharged.

There are obvious exceptions like booze, cigarettes and of course gasoline, but I find that what ever I pay for in Canada in Candian dollars, I pay the same US dollars in the US. It varies from area to area. For instance, everything seems to be very expensive in Connecticut or New York but not so bad in Nebraska or Kansas.

At least that's what I find.
 
N312RC
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RE: US Money- Perceptions

Sun May 04, 2003 10:43 am

Everything costs more in New England.. all their european-like taxation makes it that way.

Scott,

Last time I checked, if one Australian dollar buys you 63 cents American, than the Australian dollar is weaker, because it doesnt buy you one American dollar.



You can go ahead and get paid in Euros... Just remember, the EUR is at its strongest while the USD is at its lowest, and theyre almost at Parity. One big economic rush and the USD will leave the Euro in the dust.
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aloges
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RE: US Money- Perceptions

Sun May 04, 2003 8:45 pm

"Just remember, the EUR is at its strongest while the USD is at its lowest, and theyre almost at Parity."

They are what?! $1,12 for €1,00 doesn't look like parity to me, should it? As for leaving "the Euro in the dust", it's hardly possible to foretell the development of that exchange rate. It depends a lot on the investments that are made in the USA by foreigners, and those are pretty much in for a "re-evaluation". We could of course re-instate something like the Bretton Woods-System, but that's a little out there...

Don't cry because it's over, smile because it happened.
 
airplay
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RE: US Money- Perceptions

Mon May 05, 2003 5:15 am

Last time I checked, if one Australian dollar buys you 63 cents American, than the Australian dollar is weaker, because it doesnt buy you one American dollar.

This is just plain wrong. Just because several countries in the world use the "dollar" as currency doesn't mean they should be on par with the American dollar. Should the Mexican peso be the same too?? How about the Lira and the Yen?

If you can buy the same chocolate bar with $1.00 Canadian in Canada as you can with $1.00 American in the US, then who has the most buying power?

Don't ever expect the Canadian dollar to be on par with the US under normal circumstances. The Canadian economy is different and our currency only shares the name. Not the economic policies.
 
N312RC
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RE: US Money- Perceptions

Mon May 05, 2003 5:44 am

Airplay, do you seriously think Im some kind of idiot?


The two are damn well not the same, and I know that. However, If I drive my car across the Ambassador Bridge into Canada and buy a candy bar, and that candy bar is 1 CDN, and I pay with a Visa Check Card or something, they arent gonna withdraw ONE USD from my bank account, theyre gonna take 63 cents, because my bank account is in USD.

Ive gotten raped at exchange windows before (especially in the UK, where my 100 USD becomes 50 or so GBP.. ouch that hurts).


Aloges,

I say that the USD has the potential to leave the EUR in the dust because Europe's economy, to put it bluntly, isnt as explosive when it comes to growth. Everything in Europe moves slower.
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mls515
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RE: US Money- Perceptions

Mon May 05, 2003 12:53 pm




Last time I checked, if one Australian dollar buys you 63 cents American, than the Australian dollar is weaker, because it doesnt buy you one American dollar.


Um, that has to be the dumbest thing I've read all year.


Without a doubt.


The dumbest.


Thing.




Who cares if they call if the dollar, the kangaroo testicle, whatever. If the Aussie is able to buy more and more American Dollars every day with the same amount of Aussie Dollars, who's currency is stronger?

One thing that isn't dumb, I'm thinking more and more carefully about my next trip abroad. And I'm probably not the only American thinking carefully about dumping our US Dollars abroad, especially since they're not worth what they used to be!
 
airplay
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RE: US Money- Perceptions

Tue May 06, 2003 12:06 pm

Airplay, do you seriously think Im some kind of idiot?


Well...you did post:

Last time I checked, if one Australian dollar buys you 63 cents American, than the Australian dollar is weaker, because it doesnt buy you one American dollar.

What is your definition of "weaker"? I assumed that you meant it had less buying power. There is a difference between the exchange rate and the strength (buying power) of currency.

By the way, I wouldn't recommend you use your debit card to buy a candy bar...it could cost you more than $0.63!

 Smile

Everything in Europe moves slower.

Yah. Airbus is just dying out there.....

 Big grin

 
MD-90
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RE: US Money- Perceptions

Tue May 06, 2003 7:28 pm

Which is why it has to be subsidized because they literally couldn't keep up with Boeing, now can they? Maybe they could've handled McDonnell Douglas when it was in its downturns, but competing with Boeing without lots of free cash? Nahhh.
 
Staffan
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RE: US Money- Perceptions

Tue May 06, 2003 7:59 pm

Give us some figures on the free money they are receiving. You seem to know all about it, so let us hear!

Staffan
 
airplay
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RE: US Money- Perceptions

Wed May 07, 2003 2:13 am

Which is why it has to be subsidized because they literally couldn't keep up with Boeing, now can they?

Are you trying to tell me that Boeing is not subsidized???

And how about all those huge over-inflated long term military contracts? Are you trying to tell me that some of that money doesn't finance the airline manufacturing arm??
 
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yyz717
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RE: US Money- Perceptions

Wed May 07, 2003 3:36 am

And how about all those huge over-inflated long term military contracts?

Boeing bid & won those contracts in an open bid process. Do you have detailed info on the margins of the military contracts? Or is this just another anit-American rant focused on the largest US exporter?

Are you trying to tell me that some of that money doesn't finance the airline manufacturing arm??

Boeing denies they do. Unless you have contrary proof, your comment is baseless.



I dumped at the gybe mark in strong winds when I looked up at a Porter Q400 on finals. Can't stop spotting.
 
aloges
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RE: US Money- Perceptions

Wed May 07, 2003 4:08 am

Oh, an A vs B thread... Evolving out of "US Money- Perceptions"... Well, fine.
Don't cry because it's over, smile because it happened.
 
B747-437B
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RE: US Money- Perceptions

Wed May 07, 2003 4:38 am

Avt007, I feel your pain. My client contracts are all written in USD for convenience sakes, but the fluctuations between USD and other currencies is hitting me in the pocketbook bigtime. I've actually taken to storing my funds in my RBC account that gives me the best exchange rates for USD-CAD transactions and converting to CAD immediately. I try to split my holdings between GBP, USD and CAD for the most part though to minimize any exposure. Alas, with my current project, I'm spending in Indian Rupees and Singapore Dollars, both of which are ahead of the curve.

If only I had bought Euros when they were around 0.95....
"The A340-300 may boast a long range, but the A340 is underpowered" -- Robert Milton, CEO - Air Canada
 
Marcus
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RE: US Money- Perceptions

Wed May 07, 2003 5:04 am

Interesting that someone has mentioned the Mexican peso.....it is very common at Mexican cities in the Mexico-US border to have yearly salaries from mid-high and high level positions to be pegged to the USD, but payed in the peso equivalent with the rate of exchange of that week.

When I first started this job a bit over 7 months ago my paycheck was bigger than what it is today.....this is because at that time the rate of exchange was of about $10.70 to $11.10 pesos per $1 USD (depending on the week)......now the rate of exchange has gone to about $10.10 to $10.20 pesos per $1 USD.....so my salary has been adjusted downward.

In the short term this is good for the economy of the average northern Mexico consumer, something that is very good for the economic conditions of the region........but not exactly for my pocket.

Kids!....we are going to the happiest place on earth...TIJUANA! signed: Krusty the Clown
 
avt007
Posts: 1989
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RE: US Money- Perceptions

Wed May 07, 2003 12:44 pm

The pendulum swings both ways, they say, so I`ll keep my fingers crossed.
 
avt007
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RE: US Money- Perceptions

Wed May 07, 2003 1:01 pm

BTW, regarding you A vs. B types, I'm thinking of a suggestion to modify the "suggest deletion" menu. Maybe we should have a "hijacked topic" button  Smile
 
airplay
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RE: US Money- Perceptions

Thu May 08, 2003 7:23 am

Boeing bid & won those contracts in an open bid process. Do you have detailed info on the margins of the military contracts? Or is this just another anit-American rant focused on the largest US exporter?


Why don't you attack the similar statements against Airbus YYZ717? Oh yah. Because I didn't make them....

You need to end this little obsession.
 
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yyz717
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RE: US Money- Perceptions

Thu May 08, 2003 12:10 pm

You need to end this little obsession.

What are you babbling about now Airplay?

I dumped at the gybe mark in strong winds when I looked up at a Porter Q400 on finals. Can't stop spotting.

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