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To: NorwegianViking

There isno reason for a private business not to accept whatever currency it can handle profitably.


7 posted on 07/28/2010 8:03:10 PM PDT by arthurus (Read Hazlitt's "Economics In One Lesson.")
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To: arthurus

If they can do the rate of exchange, arbritage against fluctuation and deposit every day, can be very profitable.

Really, when I travel anywhere they almost always take American Wampum.

Only thing I do is check exchange in the morning, except in France they change 2x a day.

I do the calculation with them and they we argue. A bit like negotiating.

You don’t know the rate and what’s fair = pay full price.

Personally, I and the vendors have fun with the give and take and pretending to call each other friend, being a little insulting and then back to friends and the ultimate bluff:

I don’t think we can do business together. That’s too bad. I only have (x) amount of money with me today and I will be spending with someone today. I really wanted that but maybe it’s not meant to be.

Turn and leave and wait for the panicked “Okay, come back...”

It’s a game of who flinches first and everyone has fun.


21 posted on 07/28/2010 8:21:36 PM PDT by Vendome (Don't take life so seriously... You'll never live through it.)
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