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A few Questions:
Is the savings realized in a currency depreciation solely related to salaries, wages, and benefits?

If a large company is using roll over financing to cover such expenses on a month to month basis and the depreciation is accompanied by a lower interest rate for domestic loans (In that foreign country) won't that increase their advantage, not only in the present, but also in the future showing up as returns on the present "free" capital spent on Marketing, R&D, and other such things?

I like these c-dollar pieces, very practical.

Ages ago you wrote: "The three traps that, in my view, are easy to fall into are as follows:
Conflating the issue of a high Canadian dollar with a rising Canadian dollar. (I plan on writing a separate piece on this in the future)."

Did I miss the follow-up or are you going to take a swing at that in the future?

Is it just me or is the tone of the chatter shifting in favor of currency intervention, see http://www.theglobeandmail.com/report-on-business/economy/economy-lab/daily-mix/loonie-in-death-grip-carnie-should-act-cibc/article1841995/

Given the Potash deal being nixed, I don't think this administration is averse to such dealings.

A basic trade strategy would be to import from the USA as their dollar depreciates and export to nations like Chindia/Brazil before their dollar appreaciates, ignoring the USA exposure. Buy GE and sell Embraer.

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