CurrencyShares Canadian Dollar Trust (AMEX:FXC)
CAPS Rating:
Exch traded fund to reflect prices of CN $ in USD
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Exch traded fund to reflect prices of CN $ in USD
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Obviously Canada is not printing like crazy, and its currency is backed by oil and gold.
Long term it is much safer than the US dollar and 0.8 seems like a good entry point.
Question - Is it safe to rely on CurrencyShares.com's holding company (Rydex Investments) with your money. What if they go bankrupt? Is your fund safe then?
I don't own it in RL.
Canada may not be printing like crazy, but they are lending like crazy and their housing bubble is about to burst. They may be facing a huge credit contraction in 2011. What will the CAD look like then?