Manhattan Shops Accepting Euros

[Vito]

http://news.yahoo.com/s/nm/20080206/us_nm/newyork_euros_dc

NEW YORK (Reuters) - In the latest example that the U.S. dollar just ain't what it used to be, some shops in New York City have begun accepting euros and other foreign currency as payment for merchandise.
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"We had decided that money is money and we'll take it and just do the exchange whenever we can with our bank," Robert Chu, owner of East Village Wines, told Reuters television.

The increasingly weak U.S. dollar, once considered the king among currencies, has brought waves of European tourists to New York with money to burn and looking to take advantage of hugely favorable exchange rates.

"We didn't realize we would take so much in and there were that many people traveling or having euros to bring in. But some days, you'd be surprised at how many euros you get," Chu said.

"Now we have to get familiar with other currencies and the (British) pound and the Canadian dollars we take," he said.

While shops in many U.S. towns on the Canadian border have long accepted Canadian currency and some stores on the Texas-Mexico border take pesos, the acceptance of foreign money in Manhattan was unheard of until recently.

Not far from Chu's downtown wine emporium, Billy Leroy of Billy's Antiques & Props said the vast numbers of Europeans shopping in the neighborhood got him thinking, "My G-d, I should take euros in at the store."

Leroy doesn't even bother to exchange them.

"I'm happy if I take in 200 euros, because what I do is keep them," he said. "So when I go back to Paris, I don't have to go through the nightmare of going to an exchange place."

(Reporting by Angela Moore, writing by Bill Berkrot; Editing by Doina Chiacu)

[Vito]

WE NEED THE GOLD STANDARD AND/OR TARIFFS NOW!

You know that that's not going to happen...

[briann]

WE NEED THE GOLD STANDARD AND/OR TARIFFS NOW!

You were just making fun of Ron Paul and the PaleoCons for saying that?  Are you being sarcastic??

[Dr. Dan]

Economically, Ron Paul had a good point..but that's it.

[Ari]

This is unbelievable!

[MasterWolf1]

I am telling you all do some work with gold, the dollar is in trouble, gold is up to now 906.14 or so.  Gold is climbing to record levels and the dollar is becoming equal to tissue paper

[MasterWolf1]

I am telling you all do some work with gold, the dollar is in trouble, gold is up to now 906.14 or so.  Gold is climbing to record levels and the dollar is becoming equal to tissue paper

What's your stance on Fed interest rates, Wolf?

The U.S. Dollar has taken such a massive hit in the global economy.  I remember years back for 1 U.S. dollar you could trade for well almost 2.10 Canadian, some places more in Canada.  Now it is just about dead even same with the Euro. And now the idea of having a NORTH AMERICAN COIN its going to come to a point your dollar will have about as much value as chewing gum.

[dejavu]

Well... i as well am a believer that the dollar is circling the drain and briann i am still interested in a response in this other thread that someone moved... so i will put a link to it.

http://jtf.org/forum_english/index.php?topic=15814.0

The fed interest rates are a minor short term gain for a horrendous long term effect.

[Ari]

I think the Fed cuts are necessary at this point to stimulate the economy.  Hopefully by the end of the year, growth and even some infationary pressures, will cause the Fed to start raising rates again.  If not the recession we might already be in will not be a mild one, and we'll really be in trouble.  I think Gold remains an excellent long-term investment, but with the recent run-up I would remain cautious because it can turn on a dime pretty quickly.

[ASHISH]

In 2000 $1 was equal to 60 indian rupees now $1 is equal to 39 rupees

[White Israelite]

WE NEED THE GOLD STANDARD AND/OR TARIFFS NOW!

I agree.

[דוד בן זאב אריה]

6 months ago 1$ was 4.2 Sheckles in Israel now it is 3.65