This is an ignorant view.
Bitcoin is tiny, its measured in billions. How much did the Canadian currency just lose in the last view weeks? That amounts to hundreds of billions of vaporized wealth.
Bitcoin is tiny, its measured in billions. How much did the Canadian currency just lose in the last view weeks? That amounts to hundreds of billions of vaporized wealth.
Huh, that is a really interesting question.
It's not as trivial to calculate as it is for Bitcoin, where you can multiply the moneys held by the change in exchange rate -- essentially no prices as denominated in BTC, while most prices most Canadians deal with are denominated in CAD. For most Canadians, the ratio of their income and rent or groceries will stay the same, so in some senses they haven't lost anything. But the price they pay for imports, like computers and oranges, will go up, so they have definitely lost something. I wonder what the balance comes out to.
In the long run, this can depress foreign prices and even increase manufacturing demand here due to lower labour costs. But these changes don't happen overnight.