Friday, March 28, 2008

We don't want your stinking money

We were once so smug that people wanted our dollars. Well, the chickens of Republican fiscal policies (not the theoretical ones, the actually practiced ones) are coming home to roost.

John Aravosis at Americablog directed my attention to this sad (for Yanks) news from Reuters:
AMSTERDAM (Reuters) - 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.


That's because the smaller currency exchanges -- despite buy/sell spreads that make it easier for them to make money by exchanging small amounts of currency -- don't want to be caught holding dollars that could be worth less by the time they can sell them.

John comments:
It's frightfully embarrassing. And it so encapsulates what the Republicans have done to our country over the past 8 years. The almighty dollar is now no better than a third world currency you've never even heard of.

--the BB

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