Let’s consider the impact of the falling dollar on U.S. investors for one year, 2007. Canadian stocks earned Canadian investors 10.5 percent, but the gain for U.S. investors was 28.4 percent because of the strengthening of the Canadian dollar against the U.S. dollar. Meanwhile, French investors in a French stock index fund earned only 1.2 percent return in 2007, while U.S. investors in the same index earned 12.1 percent.