U.S. stores accepting Euros?

[scooterbug44]

Monday, February 11, 2008
U.S. Stores Accepting Euros

In what is seen as a sign of the declining dollar, many New York City stores have begun accepting euros. What do you think?





http://www.theonion.com/content/files/images/wdyt_photo5.article.jpg Eric Cox,
Systems Analyst
"I'd like to refer everyone to Lou Dobbs for my opinion on this matter."



http://www.theonion.com/content/files/images/wdyt_photo4.article.jpg Tammy Jackson,
Soda Vendor
"I just hope they go back to accepting pelts. Long story short, I got a lot of pelts I need to unload."



http://www.theonion.com/content/files/images/wdyt_photo3.article.jpg Scott Hernandez,
Street Cleaner
"If you're gouging people on the price of a bottle of water, it just seems more polite to do it in their own currency."



:biggrin:

[CiaoBella]

Other countries already own commercial and residential property here. Not to mention our country has sold itself to the highest bidder, now its just basically giving itself away. The people have power but don't use it....too interested in trivial things found easily on this message board! Go ahead and give the rest of the country away!

[scooterbug44]

Did someone spit in your cornflakes this morning? :idontno:

[seaside2]

Assuming reasonable conversion rate, who cares!

[Pumpkin-22]

I wish I didn't have to carry around cash at all, but I don't want to throw my Visa check card in the band tip jar.

[InletBchDweller]

Other countries already own commercial and residential property here. Not to mention our country has sold itself to the highest bidder, now its just basically giving itself away. The people have power but don't use it....too interested in trivial things found easily on this message board! Go ahead and give the rest of the country away!:blink: Scooterbug I am with you, confused!!

[up4golf]

[quote=scooterbug44;359228]Monday, February 11, 2008
U.S. Stores Accepting Euros

In what is seen as a sign of the declining dollar, many New York City stores have begun accepting euros. What do you think?
i think it is great for the people that get the euros, especially if they can hold em. a good investment they might be able to buy more dollars later.

[Smiling JOe]

So Euros in NY and Pesos in TX. A few months ago, I read about a Mexican restaurant where the owner accepted Pesos. I wonder how the Peso is doing compared to the US $. Get this, though, the restaurant owner calculated the conversion rates (don't these change daily?) and he added an exchange fee into the rate. Who knows what the conversion rate is on any given day, unless you take your Blackberry with you and look it up. Most likely, since the customer is in the dark about the real costs, the customer is likely getting hosed.

[sowalgayboi]

This doesn't make sense if you are converting the US price to EU, wouldn't it all work out in the end? The other thing is that if you've ever traveled abroad you can generally use US dollars in a tourist area of a foreign country. Could this just be the trend of a more open economy and not the over night downfall of the US economy?

[Smiling JOe]

With the ever-growing price differences between the US $ and the Euro, they don't make an equal exchange. If the NY'ers are not calculating the exchange rates, I am sure they would take even exchange of US $ for Euros. Probably more profit in accepting the Euro than selling the goods. For an even exchange of one dollar for one euro, the person collecting the euro would really be getting $1.45 at today's exchange rate. Anyone wanting to buy some real estate in Euros, on an equal rate as the US$, please contact me immediately. I'll hook you up.

With the decline in the local real estate market, and the increase in the value of the Euro compared to the US $, property around here is a real buy right now. 30% off highs for much of the real estate, and add to that a 45% increase in the purchasing power of the Euro, in the US. That is very powerful. A few years ago, I was showing property to Russians and Germans who were looking to buy much property in the area. They never pulled the trigger, but I am rather surprised that more Europeans are not buying here at the moment.

[sowalgayboi]

I would think they are not buying due to the transportation issue. Why purchase something to vacation in if it is a monumental pain to get to it?

Or they are waiting for the Euro to be double the dollar thus giving them a 50% discount off the top.

[Smiling JOe]

take into account that the market is 30%ish off the highs, and that is an 80% discount, and they can afford to buy Gulf Front and forgo the parking problems. What if I told you that you could buy Gulf front lots right now for $550,000 in SoWal? Or, Bayfront lots for $150K? I think most people who know this area would be figuring out how they could pull the trigger.

[John R]

i don't think anyone in NYC is paying for goods at a 1:1 exchange rate. They've lived with the superiority of the dollar for as long as they can remember, until recently. i bet they're quite aware of the exchange rate, daily.

[hnooe]

Eh, it's just a small sign of future growing pains, not to worry--100 years from now there will be One world monetary system, 500 years from now One world Religion, and 1,000 years from now One planet Earth government.

[rehdrahk]

Eh, it's just a small sign of future growing pains, not to worry--100 years from now there will be One world monetary system, 500 years from now One world Religion, and 1,000 years from now One planet Earth government.

I agree with most of this ... but let's not get carried away, I think the estimates are more like:

Monetary System ... Amero within 10 Years .... Worldo within 50

One world relegion ... pretty much already here if not coming very soon ... it will be called survival.

One World Govt ... hate to say it ... already happening behind the scenes ... it is the small details that are taking place to slip the idea past the general population ...

Enough Conspiracy for one post .... :blush:

[hnooe]

I agree with most of this ... but let's not get carried away, I think the estimates are more like:

Monetary System ... Amero within 10 Years .... Worldo within 50

One world relegion ... pretty much already here if not coming very soon ... it will be called survival.

One World Govt ... hate to say it ... already happening behind the scenes ... it is the small details that are taking place to slip the idea past the general population ...

Enough Conspiracy for one post .... :blush:

Thanks rehdrahk for the very intelligent modification of my overly broad generalization of the Future!:D

[singinchicken]

While Scooterbug is bringing up a valid point I love that the comments and pics are straight from The Onion!

As for my take?

There's no law that says you have to accept dollars only. Establishments in Texas started accepting Pesos a while back. The market will only tollerate a fair exchange so the only real benefit that could be realized is future weakening of the dollar. In order to realize those gains, though, they would have to hold on to the Euros until they were ready to exchange them at a higher rate. I'm not sure what kind of business sense that makes...

[scooterbug44]

All of the "what do you think posts" are from the Onion (as is my signature line)! It and the Daily Show are my main sources of current events. :biggrin:

[Smiling JOe]

singingchix, on top of holding that Euro for a while, the person exchanging them for the US $ has to pay an exchange fee. Most small businesses don't have loads of extra cash on hand, to be able to hold the Euro for later exchange. They need US $ to pay expenses and inventory costs. If they were doing it to make money, I'm sure they are adding a fee maybe 5-10% to accept the Euro. The Euro is so powerful compared the the dollar, that the people spending the Euro likely won't realize the fee, because the purchase will still seem cheaper.

Think about something like the small fee. Take a business like the RedBar. They accept cash only, so right off the start, they make 2-5% more than compared to their income if everyone uses a credit card to pay. By installing an ATM machine, after it is paid off, they are making about another 2.5% + if everyone takes out $100 or less at a time. Those numbers add up quickly. Why do you think that McDonald's stuck with the cash system so long? We are talking about millions of dollars in free income per year for McD's by not taking plastic.

[kathydwells]

singingchix, on top of holding that Euro for a while, the person exchanging them for the US $ has to pay an exchange fee. Most small businesses don't have loads of extra cash on hand, to be able to hold the Euro for later exchange. They need US $ to pay expenses and inventory costs. If they were doing it to make money, I'm sure they are adding a fee maybe 5-10% to accept the Euro. The Euro is so powerful compared the the dollar, that the people spending the Euro likely won't realize the fee, because the purchase will still seem cheaper.

Think about something like the small fee. Take a business like the RedBar. They accept cash only, so right off the start, they make 2-5% more than compared to their income if everyone uses a credit card to pay. By installing an ATM machine, after it is paid off, they are making about another 2.5% + if everyone takes out $100 or less at a time. Those numbers add up quickly. Why do you think that McDonald's stuck with the cash system so long? We are talking about millions of dollars in free income per year for McD's by not taking plastic.

All of the McD's I have been too take plastic. :idontno:

[Smiling JOe]

yes, they do now, but for years after everyone else accepted plastic, McD's, BKing, Wendy's, etc, accepted cash only.

[kathydwells]

yes, they do now, but for years after everyone else accepted plastic, McD's, BKing, Wendy's, etc, accepted cash only.

Oh, gotcha. :wave: