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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
 Posted - 02/06/2008 : 18:40:34
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Competition for the greenback-
in its own backyard!
Granted, the Euro isn't going to replace the US Dollar any time soon, but this news should be treated as a wakeup call that the US dollar supremecy is on the decline. It will happen slowly, at a snails pace, but it is sadly inevitible.
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fiatboy
Administrator
912 Posts |
Posted - 02/06/2008 : 19:34:32
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| This past December, I was able to pay for a taxi ride through Manhatten using Euros. Glad to get rid of them---stronger than the dollar, but still paper fiat. |
"Bart, it's not about how many stocks you have, it's about how much copper wire you can get out of the building." --- Homer Simpson |
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fiatboy
Administrator
912 Posts |
Posted - 02/06/2008 : 19:50:16
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| I've also noticed more banks are accepting Euros for deposit and/or exchange. |
"Bart, it's not about how many stocks you have, it's about how much copper wire you can get out of the building." --- Homer Simpson |
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Gresham
Penny Pincher Member
184 Posts |
Posted - 02/07/2008 : 18:47:41
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I was wondering. Does anyone know what the tender laws say about not accepting dollars (the next logical step).
As far as I can tell, If the price is in dollars (USD), then any dollar must be accepted, thus a 20 dollar gold piece is the same as a twenty dollar bill (until of course the currency is redefined or old dollars start to expire). Then of course some people won't accept cash or pennies etc. |
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n/a
deleted
192 Posts |
Posted - 02/08/2008 : 23:19:23
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Legal Tender
is the designated form of payment that cannot be refused when offered.
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The market can stay irrational longer than you can stay solvent.
John Maynard Keynes,
English economist (1883 - 1946)
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Edited by - n/a on 02/08/2008 23:29:34 |
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fiatboy
Administrator
912 Posts |
Posted - 02/08/2008 : 23:46:09
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Here's another way to look at it. Tax issues notwithstanding, you can use whatever medium of exchange you want---FRNs, euros, sea shells, wampum, feathers---but if there is a dispute, the courts may not (probably won't) support your claim unless you made an honest effort to use the "coin of the realm."
The face value vis-a-vis intrinsic value of coins is a different can of worms. 
Lucky for us penny hoarders, history is on the side of intrinsic value, not face value or fiat decree. |
"Bart, it's not about how many stocks you have, it's about how much copper wire you can get out of the building." --- Homer Simpson |
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Euros Accepted
Forum Locked
