If the U.S. dollar shows any kind of stability at all, our own dollar will fall (along with gold) due to record govermental deficits and interest rates will rise as the only reason interest rates are so low now is to keep the loonie below the greenback. For those who don’t believe this to be true, those same people have virtually no clue as to how bond markets work”

I think interest rates are low because Carney wants to try and expand the bubble–to try and maintain credit velocity–to “not”pop the bubble–

If interest rates are increased,it will strengthen the looonie,unless of course the US raises at the same time–
True–they can’t control the long bond rates,–
QE has proven ineffective other then short term blips,from government buying,but that can’t continue indefinitely and the results are poor at best–
I think the USD could easily go into the high 80′s and if equity markets crash,maybe higher–

I also suspect gold will fall initially,then as the safehaven play intensifies,I think gold and the miners will decouple and gold will trade with the dollar and compete as a safehaven currency,as it did for most of 2005 and again in part of 2008–
I also think gold will kick all currency’s asses before this is over–
We have a host of currency’s in danger of collapse–
GBP–Yen are two that look real shaky–
Yaun–if they ever dropped their USD peg–
Lots of smaller currency’s are on shky ground as well–
If one of these majors starts to fall uncontrollably,I’m thinking,Central banks will have no choice but to step into the gold market and buy,in order to stop a run,raising rates at that point,”might” not be enough and would for sure,implode their economy’s and “could” start a chain reaction,flight to gold–
Central Banks buying gold in a panic would cause a massive short squeeze,that could really spike the price–

In the long run,the $ price of gold is irrelevant–
If it gets close to its historic 1-1 with the Dow,even at 1000,the buying power will be what one needs to look at–
No different then dollars,its never really how many dollars you hold–its what the dollars you hold, can buy–jmo

I agree lenders will opt not to renew on many mortgages for reasons stated and will also start calling “callable” debt, (i.e. HELOC) prior to renewals.