New York stores now accepting Euros »
Posted By agentX 8 months, 1 week ago in Business & FinanceIn some New York stores, the cashiers are accepting Euros and putting up signs specifying this. Is this the end of the dollar?
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DropkickaLib8 months, 1 week ago
The Clintons are accepting Dubai currency, so why not accept Euros?
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Sandokan8 months, 1 week ago
It's obvious not too many in here travel internationally. Euros are good to accept, business as well as inflow of foreign currency for CONUS goods. Offset the deficit.
The other perk to accepting Euros is the attractiveness of that particular outlet to European tourists ... lord knows we need their cash.
Especially since Dubya is spending money the government no longer has ... we are broke!!!
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Hooper777 months, 1 week ago
Not the End of the Dollar, but maybe the Dollar will loose its position to be the "world currency". But if oil will be calculated in euro it would be a hard strike.
The newest news about US economic situation is really frightening! But its not imaginable, that EU countries will fall into a recension... at the same time there is( compared to the USA)balanced budgets.
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Blackacereturn8 months, 1 week ago
This is the 4th time i have said this today, has bush turned us into a 3rd world country...this is sad and it ******es me off that GOPers are still defending this mess. How damn Un-American can you be. This is what they do in 3rd world countries. I never thought i would see the day when this would happen here...what's next?
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BB648 months, 1 week ago
Deidre, this is the same thing they said about the British Pound. It's still the currency of choice for most. There are dozens of problems with the Euro. First and foremost look to Germany and France. Both nations are allotted to produce so many Euros in a given year. For the last several, both have exceeded their allotment. They have a loop hole that permits this, but it decreases the value, eventually.
The US dollar has slid but it's more of a correction, it's been over valued for several decades. Today the US Dollar has the same buying power, when compared the the UK Pound that it did 100 years ago.
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truthiness8 months, 1 week ago
so we are at the standard of 1907, pre ww1, before we became THE world power? and this is good how?
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Blackacereturn8 months, 1 week ago
Funny how our dollar always seems to be overvalued when there is a GOPer in the White House i heard this same crap under the first Bush and Clinton fixed, under Reagan it was worse!
For pets sake please come join us in the reality zone!
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Grancher8 months, 1 week ago
What rate of exchange are they giving at these shops? Honestly if you have enough customers who didn't bother to change their money before wandering into your shop it can be very profitable to give them a bad exchange rate and take their money. People have been doing this in Canada near the US boarder for quite a while and it seems to work well for them.
The News here is that there are a lot of Europeans visiting New York and they are too lazy to change their money.
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earthlingerer8 months, 1 week ago
We figure 200 euros to be equal to 290 dollars, no wiggle room, when abroad.
Of course ATM rates are a little better than that from euro banks.
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ecotourusa8 months, 1 week ago
hey Box-
this election will have a lot to do with the direction of our currency. because if mccain, clinton or obama make it, the north american union and the amero are coming soon to a nation near you.
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bluetexasvalley8 months, 1 week ago
I live 18 miles from the Mexican border. The merchants here have always accepted pesos, and the only time they were hurt was when the peso was devalued, which doesn't happen that often and doesn't last long. The Mexicans who shop here think nothing of dropping several thousand dollars on each shopping trip. One neighboring city attributes 40 percent of their sales to Mexicans.
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ecotourusa8 months, 1 week ago
exactly!! (and the north american union)
this election is just show time for the master plan already in place.
that's why a candidate like ron paul is so valuable folks. he sees this picture and truly wishes to modify to benefit the masses and not a small % of the population who have been controlling the power and wealth for many decades now; bush, clinton, clinton, bush, bush, possibly clinton again.
how many years does it take to wake up???
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vor8 months, 1 week ago
I remember only 8 years ago traveling to Europe in the day of Deutschmark and drinking great beer for about 2.00 USD. That same beer would now cost around 5-6 USD. I used to go to Europe frequently on vacation. It is no longer financially feasible. This is the result of Bush Administration policy allowing for the intentional weakening of the dollar to drive American export business. Yet the end result may be the continued trend toward a more xenophobic America where the division becomes greater with our European partners. A consequence they have surely ignored.
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canadianrancher578 months, 1 week ago
I don't think we are going to see the American Dollar disappear, Commodities are traded worldwide and some of the largest commodity markets are in the U.S. I feel that this alone would make it very hard for the world to drop the dollar, unless everyone was willing to accept another currency. the peoblem with another currency would be which one to use. The decline in the U.S. dollar will likely continue until your standard of living comes down and debt gets under control, this is giong to be a slow painfull process.
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JohnQPublicComment removed: User banned.
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engineer8 months, 1 week ago
I'm not surprised, especially since the unstable devaluation of the dollar!
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rdy2rck8 months, 1 week ago
Prediction-Don't know when but sometime in the distant future there will be one main currency. Just like admittance to NATO is now there will be criteria to "join."
That's assuming were still here:)
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rumple4skin8 months, 1 week ago
It's about time. Some business managers have their heads screwed on correctly regarding foreign currency. There is absolutely no reason to inconvience a tourist at the point of sale by a refusal to take any foreign currency. There are European stores refusing to take dollars because of its low value which means many Department of Defence workers must buy Euro. Fears of the Amero are unfounded. Finally Canada and Mexico will share in the 'benefits' of some North American monetary unity. The glory days of the greenback are over regardless of those who would argue about the causes.
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rdy2rck8 months, 1 week ago
I didn't want to get on this tangent albmore but it's your fault.LOL
Call it what you want, The sign of the beast,New World Order, whatever, this is just one symptom of many that shows the world is consolidating more and more into the hands of a few and I don't like it.
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KMFDM8 months, 1 week ago
oh no. sign fo the beast..run out into the streets screaming...ahhh!
time to take those jello shots.
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KMFDM8 months, 1 week ago
One million year later when our Sun, Sol, swells up to a red gaint, right before it engulfs the earth.
See, I told you the end was near!
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rdy2rck8 months, 1 week ago
"People still to still blind to the fact."
"The world is consolidating more and more into the hands of a few."
Leaving the bible out, how can this be good fro the masses?
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annoDomini8 months, 1 week ago
This isn't a story about the devaluation of the US dollar, except for the fact that more Europeans are purchasing products in New York. (No doubt many of the products are actually made in China.)
This story is simply about convenience for consumers. If I make a purchase anywhere in the world with my VISA card, my bank automatically does the currency conversion and typically charges a fee for the conversion. The retailers in NY are just extending that business from the banks: the retailers do the math conversion and charge the fee and then pass it to the banks who convert and charge a fee.
Nothing wrong with American ingenuity.
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NoWayMan8 months, 1 week ago
um, this story is precisely about the devaluation of the dollar.
convenience for customers? puh-leeze.
if that's true, then why haven't NYC stores accepted british pounds all this time? why aren't stores in L.A. accepting mexican pesos if its just about convenience?
you wrote: "Nothing wrong with American ingenuity."
that's not ingenuity. that's called betting against your own money. bankers in third world countries do it all the time. that's one of the ways they stay third world: their own people bet against their own money.
face it. retailers are investing against the dollar with this move. and they are doing it because of the dropping dollar, not for convenience.
thats what this story is about.
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annoDomini8 months, 1 week ago
NY retailers typically haven't accepted British Pounds because there just weren't that enough consumers trying to use them that it was worth the effort. Just like there were not enough trying to use Marks or Gilder or Francs or Lira. But now, most of those European consumers have one common currency (not Brits) and with the additional travelers to the US (because of the weak US dollar), there are now enough consumers wanting to use Euros that it makes sense for them to do.
There are quite a few retailers in San Diego that do accept Pesos. I'm not familiar enough with LA to know if there are retailers there accepting Pesos.
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globalwarmer8 months, 1 week ago
New York just happens to get a lot of Euro customers it only makes good business sense to offer the service in cities that get a lot of foreign travelers with lots of money. The Euro is stable enough, why not accept it?
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amazed8 months, 1 week ago
The US dollar has been the currency of the world for the last fifty years or so because the US had the largest and most viable and most stable economy in the world, which makes the dollar the most reliable. There are problems with the US economy, but they are similar to those we were facing in the 70's and early 80's. At that time, the dollar was challenged by the the yen and there were threats that the yen was going to become the world currency. The US made corrections and our economy rebounded and so did the dollar.
The problem THIS time around is that we have sold much of our infrastructure which might make it harder for us to make a comeback, but hopefully, not impossible.
Unfortunately for the US dollar, the economy backing the Euro is that of almost all of Europe which gives the US dollar more competition than it has ever had.
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lvrofwolves8 months, 1 week ago
I have some friends in Germany who say it is cheaper to come to America for a vacation then to vacation in Europe and even in their own country, so if they want to come to America and spend their $/Euros here, great!! now maybe even more will come and spend their $, doesn't sound bad to me.
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