Welcome to WebmasterWorld Guest from 54.161.64.174

Forum Moderators: incrediBILL & lawman

Message Too Old, No Replies

Dollar's plunge pushes eurozone past US

Should we convert to the euro as on-line currency?

     
12:36 am on Mar 19, 2008 (gmt 0)

WebmasterWorld Senior Member lammert is a WebmasterWorld Top Contributor of All Time 10+ Year Member Top Contributors Of The Month



afp.google.com [afp.google.com]

"With the euro now trading around 1.56 against the dollar, the size of its annual output (at market value) has exceeded that of the United States," US investment bank Goldman Sachs estimated last week.

The single European currency has skipped from record to record amid fears the US economy is heading into recession at a time of national housing and financial crises.

Now that the dollar isn't backed by the largest economy in the world anymore, should we adapt the euro as the new on-line trading currency? I am currently selling adspace on my sites in euro's, even to customers from the US and I haven't heard any protests yet. It seems that many people already have accepted the idea that the euro is becomming the new international trade currency.

1:01 am on Mar 19, 2008 (gmt 0)

10+ Year Member



I don't think the average American is ready for it, or even is aware what's happening to the currency. I just keep upping my prices as their dollar drops.......

Lovejoy

7:38 am on Mar 19, 2008 (gmt 0)

WebmasterWorld Administrator phranque is a WebmasterWorld Top Contributor of All Time 10+ Year Member Top Contributors Of The Month



not until they stop trading oil primarily in dollars...
3:59 pm on Mar 20, 2008 (gmt 0)

WebmasterWorld Senior Member 10+ Year Member



In Amsterdam currency exchangers stopped taking dollars from american tourists because of fear the dollar will loose its value faster than they can get rid of it again.

[reuters.com...]

4:33 pm on Mar 20, 2008 (gmt 0)

10+ Year Member



Perhaps the USA should go the whole way and join the European Economic Community.....
5:33 pm on Mar 20, 2008 (gmt 0)

WebmasterWorld Senior Member lammert is a WebmasterWorld Top Contributor of All Time 10+ Year Member Top Contributors Of The Month



Joining the EU is not an easy job. There are a whole bunch of rules regarding financial bookkeeping and inflation control before a country can join. I suspect the US doesn't meet all the requirements yet.
6:01 pm on Mar 20, 2008 (gmt 0)

10+ Year Member



"Joining the EU is not an easy job. There are a whole bunch of rules regarding financial bookkeeping and inflation control before a country can join. I suspect the US doesn't meet all the requirements yet".

LOL...Not to mention the fact the USA is not in Europe ;~)

Lovejoy

6:54 pm on Mar 20, 2008 (gmt 0)

WebmasterWorld Senior Member lammert is a WebmasterWorld Top Contributor of All Time 10+ Year Member Top Contributors Of The Month



Turkey is mostly outside Europe and they are still in the race to become an EU member. So geographical location might not be a reason to reject a US membership application. We Europeans have a big hearth and there is room for more people, as long as they bring a stable economy with them.

The problem with the US economical zone is that it is based on one country. The eurozone started with twelve countries and all new members of the community have to use the euro too. And most new members are developing countries with an economical grow rate higher than the average developed country. In my view--even if the dollar comes closer to the euro again--it will be difficult for the US to stay the largest economy in the world.

Phranque has a valid point that as long as the dollar used for oil trade it will keep a base value, but OPEC countries are already talking about diversifying their currency policy. Starting with US "friends" Venezuela and Iran of course :) Only one OPEC member had the balls to switch to the Euro in November 2002 for all oil trade, and we all know what happend with them a few months later (FYI, that was Iraq).

10:37 pm on Mar 20, 2008 (gmt 0)

WebmasterWorld Senior Member 10+ Year Member



..not until they stop trading oil primarily in dollars...

...and if they stopped trading in a weak currency, oil wouldn't go "up"!

Syzygy

12:24 am on Mar 21, 2008 (gmt 0)



I feel the pain as I must regularly send money overseas. 3 years ago the dollar was at 1.1 local currency but now it is at 0.80.

>>Only one OPEC member had the balls to switch to the Euro in November 2002 for all oil trade, and we all know what happend with them a few months later (FYI, that was Iraq).

Didn't Iran's internet cables get cut all of the sudden a few days before their Oil Bourse debut ;) [en.wikipedia.org...]

 

Featured Threads

Hot Threads This Week

Hot Threads This Month