Dollars tough to sell - Mercedes-Benz Forum

 
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post #1 of 5 (permalink) Old 03-19-2008, 12:37 AM Thread Starter
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Dollars tough to sell

Dollars tough to sell
Tue Mar 18, 11:27 AM ET



The U.S. dollar's value is dropping so fast against the euro that small currency outlets in Amsterdam are turning away tourists seeking to sell their dollars for local money while on vacation in the Netherlands.

"Our dollar is worth maybe zero over here," said Mary Kelly, an American tourist from Indianapolis, Indiana, in front of the Anne Frank house. "It's hard to find a place to exchange. We have to go downtown, to the central station or post office."

That's because the smaller currency exchanges -- despite buy/sell spreads that make it easier for them to make money by exchanging small amounts of currency -- don't want to be caught holding dollars that could be worth less by the time they can sell them.

The dollar hovered near record lows on Monday, with one euro worth around $1.58 versus $1.47 a month ago.

(Reporting by Svebor Kranjc, writing by Reed Stevenson)

Copyright © 2008 Reuters Limited.
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post #2 of 5 (permalink) Old 03-19-2008, 02:57 AM
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Oh you Nay Sayer, you Fear Monger, you no do gooder...................


















I traded more 50,000 USD yesterday for Singapore smiggolis at a rate 1.392 SGD to 1 USD..........
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post #3 of 5 (permalink) Old 03-19-2008, 05:26 AM
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i am going to buy bunch of dollar and stack them under bed..after every recession their is prosperity :P

Fuel economy!! whats that??
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post #4 of 5 (permalink) Old 03-19-2008, 09:15 AM
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What you want to do is rack up as much debt as you can becasue when the value of the dollar falls, so does the value of your debt! Brilliank!
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post #5 of 5 (permalink) Old 03-19-2008, 09:18 AM
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Originally Posted by Gregs300CD View Post
What you want to do is rack up as much debt as you can becasue when the value of the dollar falls, so does the value of your debt! Brilliank!


Yeah and if you are an investment bank and no one wants to buy all that junk debt, no worries the FED will step up and buy all you got, no questions asked...............
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