Comments on: The Government’s Secret Tax http://mystressm.wordpress.com/2007/05/13/the-governments-secret-tax/ Just another WordPress.com weblog Sun, 07 Oct 2007 16:55:52 +0000 http://wordpress.com/ hourly 1 By: mystressm http://mystressm.wordpress.com/2007/05/13/the-governments-secret-tax/#comment-3 mystressm Fri, 18 May 2007 00:58:00 +0000 http://mystressm.wordpress.com/2007/05/13/the-governments-secret-tax/#comment-3 Hi David: I don't believe that the Canadian dollar is defined relative to anything at all. The market determines the value of the Canadian dollar. It is a free-floating fiat currency, which is not pegged to any other currency or metal. The government tries to influence the relative value of the currency (relative to other currencies) by raising and lowering interest rates and manufacturing more dollars (sort of like pressing on the economic gas or the brakes) I am not sure that your (US)"Federal Reserve Note" quote is still current. I think that the Bretton Woods Accord that was signed sometime in the 1970’s might have superseded it. I believe at that point, the US completely left the gold standard. MyStressM Hi David:
I don’t believe that the Canadian dollar is defined relative to anything at all.
The market determines the value of the Canadian dollar. It is a free-floating fiat currency, which is not pegged to any other currency or metal.
The government tries to influence the relative value of the currency (relative to other currencies) by raising and lowering interest rates and manufacturing more dollars (sort of like pressing on the economic gas or the brakes)
I am not sure that your (US)”Federal Reserve Note” quote is still current. I think that the Bretton Woods Accord that was signed sometime in the 1970’s might have superseded it. I believe at that point, the US completely left the gold standard.
MyStressM

]]> By: David Wozney http://mystressm.wordpress.com/2007/05/13/the-governments-secret-tax/#comment-2 David Wozney Sun, 13 May 2007 07:38:18 +0000 http://mystressm.wordpress.com/2007/05/13/the-governments-secret-tax/#comment-2 Has any government in or of Canada ever defined the value of the Canadian dollar? What is the Government of Canada's current definition for the value of the Canadian dollar? A “Federal Reserve Note” is not a <a href="http://ocii.com/~dpwozney/usa.htm#Dollar" rel="nofollow">U.S.A. dollar</a>. In 1973, Public Law 93-110 defined the U.S.A. dollar as consisting of 1/42.2222 fine troy ounces of gold. Has any government in or of Canada ever defined the value of the Canadian dollar? What is the Government of Canada’s current definition for the value of the Canadian dollar?

A “Federal Reserve Note” is not a U.S.A. dollar. In 1973, Public Law 93-110 defined the U.S.A. dollar as consisting of 1/42.2222 fine troy ounces of gold.

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