CPM: Money-market and Voting Record (Day 677)
Day 677, 17:38
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Published in Canada 
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by
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by Addy Lawrence
Day 677
Thank-you to those who voted for me in the Congressional Elections, much appreciated. In thanks for your vote, I will publish my voting record throughout the month in this newspaper. I've got nothing to hide.
Note that today's report compares to two days ago, my publish took yesterday off for a date night with his wife
Voting Record
Will you support decreasing income taxes on weapons from 15% to 5%? No. I support a flat income tax system. The most common income tax rate in eCanada is 15% and I support moving all income tax rates to 15%. I am open to setting the rate of flat income tax to another level. I am also a supporter of tax rates being consistent and steady so that businesses can plan and recover the investment on capital. If taxes are changed frequently, this can hamstring businesses, especially those holding inventory.
Will you support an increase to the Citizen fee from 5.0 to 7.5? No. This will increase government expenditures and inherently raise taxes. I like the idea that this would promote population growth however it is not sustainable. Good jobs and competitively prices goods will create population growth.
Will you support an increase in income taxes on wood from 10% to 15%? Yes. I believe in a flat income tax rate across all products and commodities and 15% is the most common rate at present. Whether 15% is right or not is another story, one miracle at a time.
Will you support an increase in import taxes on diamonds from 20% to 50%? Yes. I believe that all commodities that can be found in Canada at a "high" level should have an import tax of 99%, why would we import them and create/support jobs in other countries? Create the jobs here, force the development of those industries by heavily taxing the import of these items.
Will you support an increase in minimum wage from $1.50 to $1.60? No. Prices have fallen over the last two weeks and $1.50 buys more than it did before. Also, this affects businesses. Businesses are competing out there and raising minimum wage will affect their plans. Keep it consistent, no change to minimum wage.
International Market
The pool of CA$ offers on the market is dropping, offers totaled $17,890.10 which is down $7,589.99, or 29.8%, from $25,480.09 two days ago.
On average, these offers are seeking 0.0290 gold per CA$1.00 which is down .0003, or 1.02%, from two days ago. This is the lowest rate I have observed since I commenced the study on Day 662.
The eCanadian government approved the issue of CA$30,000.00 on Day 663 (fourteen days ago) and and another $40,000.00 on Day 671 (six days ago). I surmise that it will take 5 days for the second approval to take root but look for the CA$ to take 10 basis point hit based on how the first approval went. The CA$ was trading at .291 gold at the time of the most recent approval.
If you are holding Canadian, I recommend to move to gold as CA$ appears headed for a drop. For the record, on day 674 I predicted it will hit 0.0283 by day 680.
Local Market
The offers of gold totaled 154.93 and is down 43.98, or 28.4%, over yesterday's 198.91 gold. The offers remaining on the market are more aggressive than previous days, they are seeking CA$36.114 in return, up by $0.423 or 1.2% from $35.691 two days ago.
The gold available to holders of CA$ is down. With the recent issue of money by the Canadian government ($30,000 on Day 663 and $40,000 on Day 671), there is proportionately more CA$ available than gold. All logical economic reason points to an increase in the number of CA$ per gold in the near future.
The cheapest offer for 1 gold was CA$35.700.
Arbitrage
Arbitrage represents the opportunity to make money via trading currencies. The opportunity exists if you can find another currency which trades with CA$ or gold, depending on what you are holding, between these two sums. The trick is to find it. If I find one, I'll publish it however they are tough to find and don't last long.
The implied rate on the local market is 0.0277 gold per CA$, calculated as 1G/CA$36.114. The international rate is 0.0290. The arbitrage, or spread between the two, is 0.0013, no change from two days ago. This tight spread is likely why we see a high number of CA$ offers (it is tougher for gold holders to find a third instrument withing that spread).
Who's your daddy? Addy's your daddy!!!
Thank-you to those who voted for me in the Congressional Elections, much appreciated. In thanks for your vote, I will publish my voting record throughout the month in this newspaper. I've got nothing to hide.
Note that today's report compares to two days ago, my publish took yesterday off for a date night with his wife
🙂
Voting Record
Will you support decreasing income taxes on weapons from 15% to 5%? No. I support a flat income tax system. The most common income tax rate in eCanada is 15% and I support moving all income tax rates to 15%. I am open to setting the rate of flat income tax to another level. I am also a supporter of tax rates being consistent and steady so that businesses can plan and recover the investment on capital. If taxes are changed frequently, this can hamstring businesses, especially those holding inventory.
Will you support an increase to the Citizen fee from 5.0 to 7.5? No. This will increase government expenditures and inherently raise taxes. I like the idea that this would promote population growth however it is not sustainable. Good jobs and competitively prices goods will create population growth.
Will you support an increase in income taxes on wood from 10% to 15%? Yes. I believe in a flat income tax rate across all products and commodities and 15% is the most common rate at present. Whether 15% is right or not is another story, one miracle at a time.
Will you support an increase in import taxes on diamonds from 20% to 50%? Yes. I believe that all commodities that can be found in Canada at a "high" level should have an import tax of 99%, why would we import them and create/support jobs in other countries? Create the jobs here, force the development of those industries by heavily taxing the import of these items.
Will you support an increase in minimum wage from $1.50 to $1.60? No. Prices have fallen over the last two weeks and $1.50 buys more than it did before. Also, this affects businesses. Businesses are competing out there and raising minimum wage will affect their plans. Keep it consistent, no change to minimum wage.
International Market
The pool of CA$ offers on the market is dropping, offers totaled $17,890.10 which is down $7,589.99, or 29.8%, from $25,480.09 two days ago.
On average, these offers are seeking 0.0290 gold per CA$1.00 which is down .0003, or 1.02%, from two days ago. This is the lowest rate I have observed since I commenced the study on Day 662.
The eCanadian government approved the issue of CA$30,000.00 on Day 663 (fourteen days ago) and and another $40,000.00 on Day 671 (six days ago). I surmise that it will take 5 days for the second approval to take root but look for the CA$ to take 10 basis point hit based on how the first approval went. The CA$ was trading at .291 gold at the time of the most recent approval.
If you are holding Canadian, I recommend to move to gold as CA$ appears headed for a drop. For the record, on day 674 I predicted it will hit 0.0283 by day 680.
Local Market
The offers of gold totaled 154.93 and is down 43.98, or 28.4%, over yesterday's 198.91 gold. The offers remaining on the market are more aggressive than previous days, they are seeking CA$36.114 in return, up by $0.423 or 1.2% from $35.691 two days ago.
The gold available to holders of CA$ is down. With the recent issue of money by the Canadian government ($30,000 on Day 663 and $40,000 on Day 671), there is proportionately more CA$ available than gold. All logical economic reason points to an increase in the number of CA$ per gold in the near future.
The cheapest offer for 1 gold was CA$35.700.
Arbitrage
Arbitrage represents the opportunity to make money via trading currencies. The opportunity exists if you can find another currency which trades with CA$ or gold, depending on what you are holding, between these two sums. The trick is to find it. If I find one, I'll publish it however they are tough to find and don't last long.
The implied rate on the local market is 0.0277 gold per CA$, calculated as 1G/CA$36.114. The international rate is 0.0290. The arbitrage, or spread between the two, is 0.0013, no change from two days ago. This tight spread is likely why we see a high number of CA$ offers (it is tougher for gold holders to find a third instrument withing that spread).
Who's your daddy? Addy's your daddy!!!
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Look forward to reading this everyday.