Dollars tough to sell on streets of Amsterdam

Reuters ^ | Mon Mar 17, 2008 12:51pm EDT | Reed Stevenson

[Dutchguy]

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."

[napscoordinator]

Well gee, maybe you should use Euro then. What makes Americans think that they can use dollars in foreign countries. Yes some do take dollars but perhaps instead of complaining just use Euro. The airport has change places all over the place and ATMs can give you Euro. I do it all the time. Not that difficult. You are on their property after all. Americans demand that foreigners learn their culture but refuse to do it in another country??? WTF???

[durasell]

The point of the story is that the dollar is falling so quickly that currency exchanges can’t set a price — so don’t take dollars.

[napscoordinator]

It is pretty amazing the fall. I guess I should start saving up Euro and cash it in when we recover in five years or so.

[durasell]

It wasn’t that long ago the euro was 80 cents to the dollar.

[LibLieSlayer]

Want to guess where it will be in 1 year or 2?

LLS

[durasell]

Yeah, right after I guess the winning lotto numbers, which is easier.

[AmericanInTokyo]

all my friends here are licking their chops and getting ready for their next buying sprees to the US...travel, real estate, designer goods, steak dinners...the words “baagen beisumento” are heard all around Tokyo these days with cash (Yen) flush Japanese.

[durasell]

...and don’t forget the young American girls. I swear, they must have charter flights bringing these girls into the city these days. It’s weird.

[RSmithOpt]

Ya left out the government vampires to suck more blood from the taxpayer...that's a given.

In NC last recession, Sleazy Easley raised our sales taxes, income taxes and the locals increased the property tax rates....this is just what our government thinks is good for the people.

[Lion Den Dan]

We have to go downtown, to the central station or post office." "Oh the humanity! This is worse than the Holocaust."

If you wanted full value for your dollar, you had to do the same thing back in the 70s when the dollar was worth nearly 3 German marks. Such heart rending stress.

[deuteronlmy232]

But how can this be? The fed said last year that inflation was only 2.3% for after all that's what they increased Social Security by. < /sarcasm>

Our government was designed by honorable men to be run by honorable men, I fear scallywags have taken it over.

[USS Alaska]

Not a good time to be a tourist in europe. The exchange rate will hurt your wallet.

[Nervous Tick]

r-e-a-d f-o-r m-e-a-n-i-n-g. Slow down. Use your finger to trace the line on the screen if you have to.

“small currency outlets in Amsterdam are turning away tourists “

to use your rude parlance — “WTF” do you think a CURRENCY OUTLET is supposed to do?

[AmericanInTokyo]

Strange times, indeed.

America is changing.

And we can accept it, not be in denial, make some choices, band together as a nation, and take action.

Or we can deny it, continue to leisurely sip our mint julips on the deck of the HMS Titanic, and be in for a rude awakening when 1/2 of our country is colonized by Mexico and Central America, we no longer manufacture anything except McDonalds' Chicken McNuggets (if you order in Spanish), and any of the good, well-paying white collar jobs are taken by Raheed, Pratika and all their MBA and IT friends in Delhi, Mumbai, Hyderabad and Bangalore.

I think it won't hit a lot of Americans until it is too late, because by and large the American news media does not inform the US about the larger, vibrant and ass-kicking (economic) world outside, the world that is going to eat our economic lunch, because they have vast swaths of the US populace opiated and dumbed down on Oprah, Spitzer, Britney and Paris (Hilton) to notice.

Bread and circuses.

I suspect when more and more Americans like Mary Kelly from Indianapolis, Indiana go overseas as tourists and try to buy something on the lousy, castrated US dollar, and are breathless, thinking "WTF??!!", it will hit them--as they eat spam in their hotel rooms heated on sterno--and when they return to tell their friends and word will spread. Until then, not enough Americans go overseas to notice such things first hand, but notice they will I suppose.

[AmericanInTokyo]

Nowwwww you know the game. That’s thinkin!

[AmericanInTokyo]

March 18 (Bloomberg) -- Hong Kong may be forced to abandon its 24-year-old fixed exchange rate to the US Dollar, following countries around the world ditching pegs to the falling U.S. currency, said Nomura Holdings Inc. Hong Kong's currency has slipped against 14 of the 17 major currencies in the past year, boosting import costs and accelerating inflation to the highest in nine years. China ditched a dollar peg in 2005, Kuwait last May became the first Gulf Arab state to drop its currency's link to the dollar and Qatar is considering altering its foreign-exchange rate.

[LibLieSlayer]

:-)

LLS

[uncbob]

Socialism and reality is going to have to catch up with the Euros eventually

[jjw]

Time to load up on the stock of american exporters. I have no doubt we will soon read stories about the unfair American weak dollar policy. This will also wreak havoc on the Chinese with their effective dollar peg.

[riverdawg]

“... they ... screwed the shareholders.”

No, the risk management stooges at Bear Stearns screwed the shareholders. If you make the same (bad) bet in every market, you are not diversified - no matter how many different markets you are in.