Yup. It turns out that there is not yet a replacement for the US as a safe haven, thought I am not so sure how 'safe' the US financial system is any more.
I was reading a very interesting article in The Economist. It is postulated that some of the financial bubble in the US was driven by world money coming back to the US. It seems most of the world trusts the US financial system more than what is available locally.
I tend to agree that the US$ is over valued and will fall again over time. Canada, unfortunately is tied to the US economy and resources, both of which have taken a beating of late. I expect that the C$ will go through another rapid climb once once we are through the current mess.
