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The Magic Cafe Forum Index » » Not very magical, still... » » Dollars no longer accepted at Taj Mahal... Wow. Good going US. (0 Likes) Printer Friendly Version

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The Drake
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I think its more of a confidence issue. You get paid in US dollars today and next week its at a lower value so you have lost out.

This is not he first time such a thing has happened to an economy and it won't be the last. It not anti-american to acknowledge a problem. The solution lies not in defensive patriotic ramblings but in focusing on the real issue. The national debt continues to rise and until the governments financial house is in order other nations won't have too much confidence in the US greenback.

You can see the US national debt here. http://www.babylontoday.com/national_debt_clock.htm

Best,

Tim
MagicSanta
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I only accept payment in Wan.
ed rhodes
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I'll stick with Walt Disney World. Maybe it's not as impressive as a big white marble tomb... but it's a lot more enjoyable.
"There's no time to lose," I heard her say.
"Catch your dreams before they slip away."
"Dying all the time, lose your dreams and you could lose your mind.
Ain't life unkind?"
Skip Way
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Until they stop taking USD for tourist spots in Washington D.C. I'm not gonna sweat it.

While living in Italy and Greece, the locals always preferred USD over the Lira or Drachma. In most cases we could negotiate a very favorable exchange when offering dollars. In Athens, I leased a very nice top floor apartment with wraparound balcony, patio, marble floors and an attentive landlord for about 75% of the going rate because I paid in USD...and the occasional tax-free bottle of Chevas Regal. Smile The locals would sock the cash away until the exchange rate soared - for example, the rate would usually dip during the year before a presidential election then soar right after. There was a period during Reagan's administration that the dollar soared three-to-one over the Lira. It was a win-win situation. Not so anymore...alas, Congress' fiscal irresponsibility is rapidly spending us into obscurity. Where's Thomas Paine when we really need him, eh?
How you leave others feeling after an Experience with you becomes your Trademark.

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balducci
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Is this close enough for you, Skip?

New York Merchants Embrace Euro
As Dollar Dips, Shops Begin to Accept Currency of Foreign Tourists

By Robin Shulman
Washington Post Staff Writer
Monday, February 25, 2008; A03

NEW YORK -- "Euros Only" reads a handmade sign in Billy's Antiques & Props on East Houston Street in Manhattan. But that's really just an attention grabber. Actually, owner Billy Leroy explains, the store will accept Canadian dollars and British pounds, and U.S. dollars, too.

Leroy is one of a small but growing group of New York merchants in tourist-favored neighborhoods such as SoHo, the East Village and Times Square who have begun to accept the euro and other foreign currencies.

With the dollar near its lowest rate ever against the euro and the numbers of international tourists in New York at all-time highs, some store owners figure accepting the euro offers a convenience to customers and sometimes generates a stockpile of a strong currency for themselves.

Leroy began accepting euros after a buying trip to a Paris flea market in November, when the exchange rate meant he couldn't afford to purchase his usual volume of dressers, mirrors and wax figurines. This is his way to raise euros back home.

"European customers are here, buying apartments, and when they're buying apartments, they're here buying furniture for the apartments," said Leroy, in his shop, smoking a cigar. "This weekend, 50 percent of my customers were European."

The precipitous fall of the dollar -- currently one euro is worth nearly $1.50 -- has already changed the city.

Last year, the weak currency helped draw 8.5 million foreign visitors to New York, more than ever before, said George Fertitta, chief executive of NYC & Co., the city's tourism operation, and what they have been buying is as varied as lingerie and condominiums. Tourists generated $28 billion in spending last year and supported more than 350,000 jobs, and Europeans represent the largest group of foreign visitors, he said.

The plummeting dollar and rising euro have even entered popular culture. Rapper Jay-Z has a video in which he cruises New York streets flashing wads of euros.

"I need euros," said Garba Bar¿, a street vendor who sells cellphone covers and iPod cases from a table on Broadway in SoHo. He explained that he is from Niger, which he visits frequently and where the euro is commonly used.

"The dollar's going down," he said. "I don't want to change it before I go home."

Around Times Square, merchants accepting euros are diverse. Among them: Landmark Gallery, which sells brass elephants and horses, and porcelain knights in armor; 810 Deli & Café, which offers sandwiches, soups and salads; and Joe Perez, a comedy promoter who stands on Seventh Avenue hawking tickets to shows.

"Just in the past few months, we started to accept euros," said Alex Zaidi, a clerk at nearby JK Electronics. "That way we keep our customers" if they don't have U.S. cash on hand.

Then there's Robert Chu, an owner of East Village Wines, who said his foreign-currency customers are actually local residents who are frequent travelers and euro hoarders ready to spend whichever currency is expedient.

He has been accepting European bank notes for years -- back when they were francs and marks -- but last year he did more business in foreign currencies than ever before, he said, a 10 to 15 percent increase from the previous year. He also accepts yen, British pounds and Canadian dollars.

U.S. currency is the only legal tender money in the United States, but parties can agree to satisfy a debt by other means.

"We have no problem with New York City stores finding new ways to get Europeans to spend more money here, provided they don't get ripped off on the exchange rate and still pay the sales tax," said Stu Loeser, chief spokesman for Mayor Michael R. Bloomberg.

But most Europeans don't expect to spend their own currency away from home, said Pia Staedtler, 22, from Germany, laughing at the thought as she shopped near Times Square. Besides, she said, it gives her an exotic, exciting "holiday feeling" to carry American dollars in her wallet.

However, some people in the United States don't appreciate stores here dealing in foreign currencies. "I get mail saying I'm un-American," said Leroy, the antique shop owner. "But it's American to adapt."
Make America Great Again! - Trump in 2020 ... "We're a capitalistic society. I go into business, I don't make it, I go bankrupt. They're not going to bail me out. I've been on welfare and food stamps. Did anyone help me? No." - Craig T. Nelson, actor.
MagicSanta
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You have to admire greed. Just in case you are keeping score border towns have stores that have, for years, accepted pasos.
MagicSanta
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Pesos even.
Doug Higley
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Mandrake01...it smells better too (for the most part)
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thorndyke
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This is one Canadian who enjoys visiting the United States. With the exception of border states, most places can expect me to use U.S. dollars. As a tourist, I want quick service and I'll get it if the clerk isn't stumped by our fancy coloured toilet paper and spends ten minutes trying to figure out what kind of monopoly money or occupation scrip Im trying to foist off on her.
If the tourist traps of India don't want greenbacks tough luck for them.
If you want a true test of the value of any countries money watch tv reports of drug raids - what money do the police put on display on a table along with weapons and baggies?
Magnus Eisengrim
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On both sides of the Canada-US border, you are foolish not to use local currency. Stores and restaurants may accept the bills, but in my experience on both sides they never give you a fair exchange rate.

John
The blood-dimmed tide is loosed, and everywhere
The ceremony of innocence is drowned;
The best lack all conviction, while the worst
Are full of passionate intensity.--Yeats
MagicSanta
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Wait....did I just see a Canadian who actually doesn't hate the US? I'm shocked. Not only that he shows intelligence.....
Destiny
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I am more than willing to accept US currency either here personally in Australia or you can PM for my Nigerian PO Box.

Destiny
Magnus Eisengrim
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You've got it wrong, Santa. I don't hate America. I just don't think it's perfect. Who does? Heck most Americans I know are much more critical of the US than I am. That's one of the things I admire about them.

John
The blood-dimmed tide is loosed, and everywhere
The ceremony of innocence is drowned;
The best lack all conviction, while the worst
Are full of passionate intensity.--Yeats
thorndyke
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I don't swallow the b.s. about the U.S. - I go by my own experiences.
The people are decent and courteous, good natured and helpful.
Never had a bad trip to the U.S., and I look forward to seeing my freinds in Indianapolis in April for the lock collectors show.
MagicSanta
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And the people of Indianapolis will welcome you sir! I knew a gal from Indy that would really welcome you if ya know what I mean...only she is pushing 50 now and I've not seen her in 25 years....maybe you don't want her to welcome you.

Hey John, there is a difference between Americans commenting about the US and non-Americans commenting, one is debate, the other an insult and as a fighter I don't take insults well.
Magnus Eisengrim
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LOL Santa. Look in a mirror.

John
The blood-dimmed tide is loosed, and everywhere
The ceremony of innocence is drowned;
The best lack all conviction, while the worst
Are full of passionate intensity.--Yeats
MagicSanta
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I retaliate. Believe me, Canada isn't something I would ever comment on, other than to praise RIM, if the socialist there kept their yaps quiet.
The Drake
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Quote:
On 2008-02-25 19:01, Magnus Eisengrim wrote:
LOL Santa. Look in a mirror.

John


Waste of time. He has no reflection. LOL

Best,

Tim
ClintonMagus
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I'm sure when it comes to accepting foreign aid, though, US dollars are perfectly acceptable. Smile
Things are more like they are today than they've ever been before...
MagicSanta
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Sure is.... Hey, I have to admit I did go, two years ago, to visit some of the fine manufacturing plants for Canadian companies....I always liked Mexico.
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