If you're looking for a safe haven from the dollar, don't count on Canada

We spend a lot of time here at The Dollar Vigilante chastising Ben Bernanke and the Federal Reserve and preparing our subscribers for a collapse of the US dollar – something which has been paying off very handsomely, with gold and silver at record highs this year – but don't take that to mean that we prefer any other fiat currency.  No fiat currency in the western world is any better than the US Dollar.  In fact, in every case, they are worse.

The Federal Reserve is still, despite its secrecy, one of the most transparent central banks in the world.  It also has, over the last century, despite inflating the dollar downward by 97%, been one of the least inflationary banks.

We often hear of people denounce the US dollar and correctly divine that it is headed to worthlessness, but, in the same breath, they say they own other fiat currencies like the Canadian dollar.

This is a case of ignorance of the workings of banks like the Bank of Canada – or virtually any other major central bank in the world, for that matter.

There are numerous reasons why the Canadian dollar will not survive a US dollar collapse:

• The Canadian economy is very tied to the US economy.
• The Canadian Government is intent on devaluing the Canadian dollar alongside the US.
• The Bank of Canada has virtually no gold backing the Canadian dollar.
• All that does back the Canadian dollar is the US dollar and other fiat currencies.
• The Canadian dollar is not used globally.

The Canadian Economy is Very Tied to the US Economy

We need only show one graphic to make this point:

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