Features
Our New Jewish Reality
By HENRY SREBRNIK We are now three months past the horrific Hamas attack on Israel, and things get worse, not better, as antisemitic activities have grown since that day.
Indeed, since Oct. 7, we Jews have been witnessing an ongoing political and psychological pogrom. True, there have been no deaths (so far), but we’ve seen the very real threat of mobs advocating violence, and extensive property damage of Jewish-owned businesses and synagogues, all with little forceful reaction from the authorities.
The very day after the carnage, Canadians awoke to the news that the deadliest day for Jews since the Holocaust had inspired sustained celebrations in its major cities. And they have continued ever since. I’d go so far as to say the Trudeau government has, objectively, been more interested in preventing harm to Gazans than caring about the atrocities against Israelis and their state.
For diaspora Jews, the attacks of Oct. 7 were not distant overseas events and in this country since then they have inspired anti-Semitism, pure and simple, which any Jew can recognize. Even though it happened in Israel, it brought back the centuries-old memories of defenseless Jews being slaughtered in a vicious pogrom by wild anti-Semites.
I think this has shocked, deeply, most Jews, even those completely “secular” and not all that interested in Judaism, Israel or “Zionism.” Jewish parents, especially, now fear for their children in schools and universities. The statements universities are making to Jewish students across the country could not be clearer: We will not protect you, they all but scream. You’re on your own.
But all this has happened before, as we know from Jewish history. Long before Alfred Dreyfus and Theodor Herzl, the 1881 pogroms in tsarist Russia led to an awakening of proto-Zionist activity there, with an emphasis on the land of Israel. There were soon new Jewish settlements in Palestine.
The average Jew in Canada now knows that his or her friend at a university, his co-worker in an office, and the people he or she socializes with, may in fact approve, or at least not disapprove, of what happened that day in Israel. Acquaintances or even close friends may care far more about Israel killing Palestinians in Gaza.
Such people may even believe what we may call “Hamas pogrom denial,” already being spread. Many people have now gone so far in accepting the demonization of Israel and Jews that they see no penalty attached to public expressions of Jew-hatred. Indeed, many academics scream their hatred of Israel and Jews as loud as possible.
One telling example: On Nov. 10, Toronto officers responded to a call at an Indigo bookstore located in the downtown. It had been defaced with red paint splashed on its windows and the sidewalk, and posters plastered to its windows.
The eleven suspects later arrested claimed that Indigo founder Heather Reisman (who is Jewish) was “funding genocide” because of her financial support of the HESEG Foundation for Lone Soldiers, which provides scholarships to foreign nationals who study in Israel after serving in the Israeli armed forces. By this logic, then, most Jewish properties and organizations could be targeted, since the vast majority of Jews are solidly on Israel’s side.
Were these vandals right-wing thugs or people recently arrived from the Middle East? No, those charged were mostly white middle-class professionals. Among them are figures from academia, the legal community, and the public education sector. Four are academics connected to York University (one of them a former chair of the Sociology Department) and a fifth at the University of Toronto; two are elementary school teachers; another a paralegal at a law firm.
Were their students and colleagues dismayed by this behaviour? On the contrary. Some faculty members, staff and students at the university staged a rally in their support. These revelations have triggered discussions about the role and responsibilities of educators, given their influential positions in society.
We now witness continuous large “pro-Palestinian” rallies through our cities, invasions of shopping malls and thoroughfares, including intimidating behaviour against Jewish passersby. One incident that gained wide media coverage was of a masked demonstrator at the Eaton Centre in Toronto Dec. 17 threatening someone in front of police officers that he would “put him six feet deep” with no consequences. The protesters seem to act with impunity and no pushback from the authorities.
“Pro-Hamas protests have been permitted to block traffic, close stores and frighten patrons and owners, and vandalize property. And now we have explicit death threats in front of inert useless cops,” wrote journalist John Robson in the National Post Dec. 20.
Far more scandalous, even shocking, was the decision by the mayor of Canada’s fourth largest city, Calgary, announcing that she would not be attending the annual menorah lighting at city hall on the first night of Hanukkah.
Jyoti Gondek called it “an event to support Israel” – which, in her mind, “goes against the mission to uphold diversity and inclusion.” Orwell would be proud of such doublespeak. She is good at electoral math, however: Calgary is home to 100,00 Muslims but only 6,000 Jews.
Canada’s Muslim population is nearly 1.8 million, almost five times larger than the Jewish one, as Justin Trudeau, also, is aware. His Liberal government has been missing in action both in defending Israel at the UN and Canadian Jews at home. The RCMP, meanwhile, announced Dec. 16 that it had seen a “concerning trend” of young people being radicalized online, revealing that five youths had been arrested on terror charges over the past six months.
You’ve heard the term “quiet quitting.” I think many Jews will withdraw from various clubs and organizations and we will begin to see, in a sense like in the 1930s, a reversal of assimilation, at least in the social sphere. (Of course none of this applies to Orthodox Jews, who already live this way.)
Women in various feminist organizations may form their own groups or join already existing Jewish women’s groups. There may be an increase in attendance in K-12 Jewish schools. In universities, “progressive” Jewish students will have to opt out of organizations whose members, including people they considered friends, have been marching to the slogan “From the river to the sea, Palestine will be free” and similar eliminationist rhetoric, while waving Palestinian flags.
This will mostly affect Jews on the left, who may be supporters of organizations which have become carriers of anti-Semitism, though ostensibly dealing with “human rights,” “social justice,” and even “climate change.”
A perfect example: Swedish climate activist Greta Thunberg took part in a demonstration outside the Israeli Embassy in Stockholm on Oct. 22 in which she chanted “crush Zionism” along with hundreds of other anti-Israel protesters. She co-authored an op-ed accusing Israel of perpetrating a genocide against Palestinians in the British newspaper the Guardian Dec. 5.
Israel is now unthinkingly condemned as a genocidal apartheid settler-colonialist state, indeed, the single most malevolent country in the world and the root of all evil.
New York Times Columnist Bret Stephens expressed it well in his Nov. 7 article. “Knowing who our friends aren’t isn’t pleasant, particularly after so many Jews have sought to be personal friends and political allies to people and movements that, as we grieved, turned their backs on us. But it’s also clarifying.”
We confront two wars, one being waged in Gaza, the other here in Canada’s streets, universities, and elsewhere, by antisemites creating havoc. Canada’s Jews feel besieged and isolated.
Ed. note: This article by Henry Srebrnik represents the fifth piece we have published written by him since November 12. Four previous articles are still available to read on our website. (Simply enter “Henry Srebrnik” in the search tool.) This most recent article represents an updated version of an article which was first posted to our website on November 12. We also asked Henry to provide some further biographical information, as many readers have been asking us who he is. You can read a detailed bio of his academic career at the end of this article.
By the way, similar to Henry, we’ve been receiving submissions from other writers whose writings had not previously appeared in our paper, nor on our website. We welcome those submissions. We are proud to serve as a forum for articles that, perhaps for reasons of length, perhaps due to their content, have either been rejected for publication in better known newspapers or websites than ours.
Henry Srebrnik teaches comparative politics and ethnic relations in the Department of Political Science at the University of Prince Edward Island in Charlottetown, PEI, Canada and in his research examines the impact of nationalism and ethnically-based political conflict among diaspora peoples.
He obtained BA and MA degrees in political science and history at McGill University, Montreal, and an MA in Contemporary Jewish Studies at Brandeis University, Waltham, MA. His PhD in political science, from the University of Birmingham in England, was entitled “The Jewish Communist Movement in Stepney: Ideological Mobilization and Political Victories in an East London Borough, 1935-45.”
He has written three books on the subject of Jewish communities and Communist movements: London Jews and British Communism, 1935-1945 (London: Vallentine Mitchell, 1995); Jerusalem on the Amur: Birobidzhan and the Canadian Jewish Communist Movement, 1924-1951 (Montreal and Kingston: McGill-Queen’s University Press, 2008); and Dreams of Nationhood: American Jewish Communists and the Soviet Birobidzhan Project, 1924-1951 (Boston: Academic Studies Press, 2010). With Matthew Hoffman, he co-edited A Vanished Ideology: Essays on the Jewish Communist Movement in the English-speaking World in the Twentieth Century (Albany, NY: State University of New York Press, 2016).
He also wrote Creating the Chupah: The Zionist Movement and the Drive for Jewish Communal Unity in Canada, 1898-1921 (Boston: Academic Studies Press, 2011) and co-edited De Facto States: The Quest for Sovereignty (London and New York: Routledge, 2004).
The book on the Canadian Jewish Communist Movement has quite a bit on Winnipeg, as you’d expect.
A few articles that include Winnipeg, of the many I’ve written on the Canadian Jewish Communist movement:
“Birobidzhan on the Prairies: Two Decades of Pro-Soviet Jewish Movements in Winnipeg,” in Daniel Stone, ed., Jewish Radicalism in Winnipeg, 1905-1960 (Jewish Life and Times, Vol. 8) (Winnipeg: Jewish Heritage Centre of Western Canada, 2003): 172-191.
“Red Star Over Birobidzhan: Canadian Jewish Communists and the ‘Jewish Autonomous Region’ in the Soviet Union,” Labour/Le Travail 44, 1999: 129-147; reprinted in Richard Menkis and Norman Ravvin, eds., The Canadian Jewish Studies Reader (Calgary and Montreal: Red Deer Press and the Institute for Canadian Jewish Studies, 2004): 241-263.
Features
Exchange Rate Factors: What Global Events Mean for Savvy Investors
When Russia invaded Ukraine in 2022, it created ripples in all financial markets, including currency markets. The Euro weakened while the dollar surged and emerging market currencies wobbled. Global factors can quickly affect financial markets and shake established trends. Apart from such rare events, currencies tend to change their price because of interest rates, inflation, and overall investor confidence. For investors managing money abroad, understanding these movements is critical to avoid losses and mitigate risks.
Below, we will break down how global political, economic, and cultural events influence exchange rates, with insights for savvy investors.
Economic factors
There are several key exchange rate factors with a consistent history of shaking financial markets. These factors include inflation, interest rates, trade balances, employment rates, and so on. Since economic factors are shaping markets almost daily, we start with those.
Inflation and interest rates
Inflation and interest rates are closely connected as one can easily affect the other. When inflation rises, central banks step in and raise interest rates to reduce inflation, and when inflation is lower, central banks can lower interest rates to make borrowing money cheaper. As a result, investors closely monitor these two metrics to anticipate changes in interest rates. Higher inflation makes currencies weaker, and whenever banks change the rates, the changes are immediately reflected in global currency rates. In the United States, the Federal Reserve is the central bank that sets interest rates in the country.
Trade balances and economic growth
A country that exports more than it imports has a stronger demand for its currency. More demand equals a stronger currency. However, the Japanese yen was always weaker against the dollar because the BOJ of Japan tends to have super low rates near 0 to support its exporters. Economic growth also increases demand for local currency as more investors try to invest in the country’s economy. Long-term investors often track this data to detect early signs of any changes in currency strength.
Political and geopolitical factors
Elections, sanctions, and overall political stability are also crucial factors. If the country gets under sanctions, its economy crumbles and its currency becomes inflationary, losing its value quickly. Elections are also crucial for a currency’s strength. Geopolitical events can have a serious impact on the currency as well. The most obvious example is the 2016 Brexit events that made GBP lose its value rapidly and violently. Global conflicts, such as wars, can seriously impact global financial assets, especially currency markets. When tensions are high, safe-haven currencies like USD and CHF (Swiss Franc) become very popular among investors as they seek a safe place to protect their capital.
Cultural and social factors
People like tourists, workers, and diaspora communities can shape currencies as well. Tourism usually drives seasonal demand, and countries that are popular destinations during certain seasons experience their currency appreciation as demand spikes. The perception matters as countries seen as safe and opportunity-rich tend to attract more investors, solidifying their currency strength.
Technology and innovation
Technology is seriously affecting everything, especially the financial sector. Digital payment systems, blockchain technology, and fintech startups have made it easy and swift to move money around. Cryptos and stablecoins enable investors to protect their capital using stablecoins during volatile times. The latest trend among banks is to work on CBDCs, which signals a new era where national currencies are blended with technology and blockchain. Despite this, currencies, even in their crypto form, will continue to be influenced by all major factors mentioned above, and knowing how these factors impact your currency is key to keeping your capital safe from risks.
Practical lessons for savvy investors
So, what do all these factors teach us about global currency rates and investing strategies? The key lies in proper preparations and anticipation. Monitoring macro trends, policy announcements, and major geopolitical and political developments is critical.
Diversify
The number one method which is used by professional investors is diversification. This simply means to spread your risks across a basket of assets. By not investing all your capital in one instrument, you can mitigate risks. If one asset experiences a loss, other ones will counter it with returns. Building a diversified portfolio is key to properly diversifying. For example: divide your capital to buy stocks, commodities, currencies, and cryptos so that if one fails to perform, others will counter it. This ensures a stable income without unnecessary losses in the long run.
Hedge
Forex options and ETFs are great hedging assets. Forex options let investors lock in an exchange rate for a future date, which is very useful if you expect volatility but want stability. Currency ETFs, on the other hand, track specific currencies or a basket of currencies and allow easy trading or protection without trading forex directly, but they are still risky.
Monitor the economic calendar
Economic calendar is a free online tool that aggregates important macroeconomic news data such as interest rate decisions, CPI, inflation, employment rates, central bank announcements and speeches, and other crucial information. By monitoring them, investors can always know when important news data will be released, and they can postpone their investment decisions to avoid volatile times and only invest after the main trend is determined.
Features
The Canadian Dollar is on a slow decline. Should you save in euros or US dollars instead?
The Canadian dollar has been losing its value against the dollar this year. For Canadians, this raises a simple question: if your CAD is losing ground, is it better to move savings into euros or U.S. dollars, especially bonds, stocks, or a carry-trade strategy? Carry-trade strategy in this context means to borrow in CAD and invest it in the USA or the EU zone. This is a complex matter, and to understand where the CAD is, how attractive other currencies might be, we need to analyze these currencies more deeply. Below, we will walk you through the data, practical costs, and risks so you can reach a usable conclusion after reading this guide.
Quick snapshot – What the markets say right now
Recently, the Canadian dollar has hit multi-month lows due to weaker oil prices and a post-Fed (U.S. Federal Reserve) market reaction (which raised the rates, making the CAD weaker against the dollar). Canada’s central bank has cut its policy rate to 2.25%, while the Fed’s fund rate remains notably higher at about 3.75-4%. The ECB (European Central Bank) main interest rates are lower than the Fed’s and near the low-to-mid 2% range. While the Euro currency to USD rates remain mostly predictable, due to higher US bond yield rates, the EUR remains stronger, still. The U.S. 10-year Treasuries are around 4.1%, Canada’s 10-year near 3.2%, and Germany’s 10-year around 2.7%, meaning that today the USD-denominated bonds have the highest nominal yield among the three. As a result, the dollar seems much more attractive when it comes to bond yields and stocks.
Bonds – Which currency is the best for fixed income?
The short answer is: USD bonds. When it comes to nominal yield alone, US bonds beat almost all other competitors. U.S. government bond yields (10-year) are noticeably higher than Canadian and German/Eurozone bond yields right now. As a result, US bond buyers have more income potential than Canada and the EU. Euro-area core yields are lower, meaning they are paying less than the USA.
However, nominal yield does not mean it is guaranteed real return, and metrics like inflation, currency rates, and hedging costs can impact potential returns directly. If you buy USD bonds but the dollar falls against the CAD, currency losses will most likely wipe out the higher yield rate. If the Fed lowers its rates, it will make the dollar weaker against the CAD and EUR.
Another challenge is that, if you live and spend in Canada, you are using CAD, and when exchanging it for dollars, you get exposed to foreign currency rate risks, which must not be underestimated.
Stocks – Euro or dollar?
Both the EUR and USD have their advantages. USD has strong liquidity and strong long-term performance, while EUR equities offer valuation opportunities and recent relative strength.
Why USD?
The U.S. market remains the most liquid stock market with strong earnings for many tech and large companies. This makes USD stocks very attractive for long-term-oriented investors. S&P has been rising historically, and even after crashes, it often recovers its value relatively quickly.
Why EUR?
European indexes have performed well this year and in many cases cost less than their U.S. counterparts. While cheaper does not always mean better, these indexes still have some growth potential. Some major banks in the EU zone, together with industries, have recovered strongly with a recent focus on military manufacturing, making many EU stocks very attractive, together with local indexes.
However, here is a caveat: if you are using CAD daily and it loses its value against the euro, the returns from euro holdings might shrink, exposing you to greater currency risks.
Carry-trade analysis – Is it viable to borrow CAD and invest it in USD or EUR?
The basic promise of carry-trade is simple yet powerful: you borrow cheaper currency and invest it in currencies with higher yields. In our case, is it lucrative to borrow in CAD and invest in either EUR or USD? To answer this question, we need to look at numbers. BoC policy rate is 2.25%, Fed funds from 3.75%, U.S 10-yr is 4.1%, Canada 10-yr is 3.2%. If we deduct Canadian rates from the U.S. rates, we get around 1.8% positive before costs. So, in theory, it could be lucrative to invest CAD in USD assets using a carry trade. Since the ECB has around 2%, it is not profitable to use a carry-trade strategy for the euro.
The bottom line
While the CAD has been weakening lately, it is still not cheap enough to naively invest in USD or EUR. However, if you want a pure yield and can tolerate foreign exchange rate risks, USD bonds are more attractive today. When it comes to stocks, USD equities provide stable and liquid markets. If you want valuation potential and diversification, then euro equities have become more attractive this year. When it comes to carry-trade strategies, the USD remains more lucrative than the euro, but on paper, traders and investors should evaluate all the risks and costs before investing in any currency.
In the end, Canadians who have CAD for their daily costs should be careful when trying to get exposure to other markets. US bonds, US stocks, US carry-trade, and EU stocks remain attractive choices for experienced investors.
Features
Why Reading Online Reviews Matters Before Making a Purchase
People usually pause before purchasing to read reviews from other customers. It’s become part of everyday online life, a quick way to see how something really performs before making a decision. According to the Pew Research Center, most internet users read reviews to get a better idea of what they’re buying. The feedback from actual users becomes more reliable than marketing statements because it comes from everyday consumers instead of sales-oriented corporate messages.
Reading reviews also helps spot patterns. If the same comment, good or bad, appears again and again, it usually means there’s truth to it. People now use this collective feedback as their main method to evaluate online products and services for quality and reliability.
When There Are Too Many Options, Reviews Narrow the Field
Shopping online can be overwhelming and a bit of an adventure. There are always more options than anyone needs, hundreds of gadgets, countless household tools, endless entertainment subscriptions. All listings present themselves as excellent value propositions with operational excellence, yet it remains a bit of a challenge when it comes to verifying which ones deliver actual results.
Reviews become useful at this point. Real users provide information about product details, which marketing content fails to show, by sharing their experiences about delivery speed and setup ease and product durability after several months of use. The product details show its operational behavior when used in regular business activities.
Users tend to begin with reviews. For instance, a tech product might have amazing packaging but fall short on battery life or integration. Maybe a new game or casino platform might sound promising, and reviews on trusted choices can confirm whether it includes flexible payment options, a wide content library, and responsive support. When feedback keeps mentioning strong points like clear instructions or helpful customer service, it shows consistency. The product or service delivers its expected results because customers have personally seen its performance.
Reviews Build Faith Through Shared Experience
Reviews gain their strength from the emotional bonds which readers find with each other. Reading about someone else’s experience feels familiar, even if you don’t know them. It’s basic word-of-mouth marketing, like receiving recommendations from a neighbor who has already purchased the item you are considering.
This shared experience has built an informal community of online voices. People rely less on what a brand claims and more on what other users notice. When different reviewers mention similar strengths or small frustrations, it adds authenticity. The story becomes more believable.
Reviews show what other users have experienced, but they do not offer any guidance about what to do. This type of his collective info turns into an important part of how people build trust online. It’s a small thing, but it makes a big difference in how confident we feel about the choices we make.
Balanced Feedback Feels More Honest
A perfect score does not prove that something lacks any imperfections. A combination of positive and less-than-perfect feedback creates a more authentic impression. Small complaints about packaging or delivery delays make glowing reviews sound real. A recent study showed that participants answered honestly instead of trying to make their responses attractive to others.
Most readers know that nothing works flawlessly all the time. People look for reviews which provide both positive and negative aspects because they want to find balanced opinions. Customers can establish realistic purchase expectations through combined information which they can apply before buying. Review systems maintain their value because reviewers maintain honesty in their assessments.
Why Recency and Volume Matter
The best reviews and product ratings are the ones written recently. They reflect how a product or service performs right now, not how it worked a year ago. Things change, materials, delivery services, and even the way companies handle support.
A steady flow of new reviews suggests consistency. When lots of people share their experiences over time, patterns appear. Those patterns tell readers what’s typical, not just what’s possible. It’s the difference between one person’s lucky experience and a reliable average that others can count on.
Quantity matters too. Ten balanced reviews from this month will usually tell more than a single five-star comment from last summer. Together, recency and volume create a clear picture of reliability and quality without relying on assumptions.
Recognising Genuine Reviews
Not every review online is authentic, real, and written by a consumer. Some are written by automated accounts or people hired to post positive comments. Real feedback tends to sound natural and personal. It might mention something specific like the texture of a fabric, how easy the setup was, or whether support staff replied quickly.
Authentic reviews vary in tone and detail. Some are short, others long, some are full of small observations. That mix of styles feels human. On the other hand, copied or fake reviews usually repeat the same phrases or sound overly polished.
Many websites now try to identify and label suspicious posts, but readers can also help by paying attention to repetition, timing, and tone. A quick scan across different platforms usually reveals what’s genuine and what’s not.
Reading Smarter in the Online Marketplace
Reviews have become a solid foundation for how people make decisions online. They give an honest view of how something performs beyond what’s written on the label. Every comment, short or long, adds another piece to the puzzle.
More than that, reviews show how businesses handle problems, how quickly they respond, and whether they follow through on promises. They offer accountability in a world where shoppers and sellers rarely meet face to face.
Reading a handful of reviews won’t guarantee a perfect experience, but it provides helpful context. It shows what’s typical and helps people make choices with more confidence. In an online world full of noise, reviews remain one of the easiest and most reliable ways to learn from others.