O Canada: Going Long CurrencyShares ETF

Dec. 5.08 | About: CurrencyShares Canadian (FXC)

A lot of lovely, lovely numbers showing debt levels of various countries: http://dollardaze.org/blog/?post_id=00536.

I recently bought some Canadian currency through the CurrencyShares Canadian Dollar Trust (NYSEARCA:FXC). Because of the decline in commodity prices, the Canadian dollar has gone from parity with the U.S. dollar to only 71 U.S. cents. Looking at the Canadian debt load, especially in comparison to other countries, the drop seems overdone.

Earlier, I wrote about currencies in the following post, singling out the Canadian dollar and the Swiss franc as possible diversification tools: http://willworkforjustice.blogspot.com/2008/11/currencies.html