Sponsor Message:
Non Aviation Forum
My Starred Topics | Profile | New Topic | Forum Index | Help | Search 
American Dollars? No, Thank You!  
User currently offlineOldeuropean From Germany, joined May 2005, 2085 posts, RR: 4
Posted (6 years 9 months 3 weeks 2 hours ago) and read 2875 times:

More and more celebrities deny to be paid in US Dollar. Giselle Bündchen is the next:

http://www.bloomberg.com/apps/news?p...601109&sid=aUdDmoYyZhdY&refer=home

Axel


Wer nichts weiss muss alles glauben
64 replies: All unread, showing first 25:
 
User currently offlineBanco From United Kingdom, joined Oct 2001, 14752 posts, RR: 53
Reply 1, posted (6 years 9 months 2 weeks 6 days 23 hours ago) and read 2812 times:

Currencies go up and down. Right now people don't want to be paid in dollars. In ten years time they might baulk at being paid in euros, pounds or yen. Hardly surprising that people want to be paid in currency that gains them the most.


She's as nervous as a very small nun at a penguin shoot.
User currently onlineN1120A From United States of America, joined Dec 2003, 26426 posts, RR: 76
Reply 2, posted (6 years 9 months 2 weeks 6 days 23 hours ago) and read 2810 times:

Goodness I wish I had stockpiled Euros back when I paid $0.88 for them.


Mangeons les French fries, mais surtout pratiquons avec fierte le French kiss
User currently offline767Lover From , joined Dec 1969, posts, RR:
Reply 3, posted (6 years 9 months 2 weeks 6 days 22 hours ago) and read 2796 times:

Does anyone know anything about the value of currency that no longer is in production? I have a bunch of pre-Euro stuff and wondered if it will be worth anything someday. My father-in-law just sold a coin collection for $150K!

User currently offlineMD11Engineer From Germany, joined Oct 2003, 13985 posts, RR: 62
Reply 4, posted (6 years 9 months 2 weeks 6 days 22 hours ago) and read 2793 times:

Quoting Banco (Reply 1):
Currencies go up and down. Right now people don't want to be paid in dollars. In ten years time they might baulk at being paid in euros, pounds or yen. Hardly surprising that people want to be paid in currency that gains them the most.

As long as it is only some celebreties who insist on getting paid in Euros, it is ok, but the moment e.g. the oil producers decide that selling their oil in dollars will not bring them enough profit and insist on getting paid either in Pound Sterling or Euros, there will be a problem.

Jan


User currently offlineBanco From United Kingdom, joined Oct 2001, 14752 posts, RR: 53
Reply 5, posted (6 years 9 months 2 weeks 6 days 22 hours ago) and read 2785 times:

Quoting MD11Engineer (Reply 4):
but the moment e.g. the oil producers decide that selling their oil in dollars will not bring them enough profit and insist on getting paid either in Pound Sterling or Euros, there will be a problem.

The US dollar will not be the global reserve currency forever, any more than Roman Gold, Spanish dollars or Pounds Sterling were going to be. Yes, at some indeterminate point in the future we will have a problem when that happens, but i suspect at that point there will be another currency to move to, be it Euro or whatever else. And the sun will still come up.



She's as nervous as a very small nun at a penguin shoot.
User currently offlineMD11Engineer From Germany, joined Oct 2003, 13985 posts, RR: 62
Reply 6, posted (6 years 9 months 2 weeks 6 days 22 hours ago) and read 2776 times:

Quoting Banco (Reply 5):
Yes, at some indeterminate point in the future we will have a problem when that happens, but i suspect at that point there will be another currency to move to, be it Euro or whatever else. And the sun will still come up.

It wouldn't be a problem for us in Europe if the Euro or the Pound take over, but it would definitely hurt the American economy big time. Prices there would skyrocket. Even at the moment we don't feel too much of the rise of oil prices in Europe due to the fact that part of the increase in price (in dollars) is taken up by the drop in dollars versus the Euro. I've read a few days ago that, if not for the drop of the dollar in relation to the Euro one litre of petrol in Germany wouldn't cost Euro 1.40 but Euro 1.70.

Jan


User currently offlineBanco From United Kingdom, joined Oct 2001, 14752 posts, RR: 53
Reply 7, posted (6 years 9 months 2 weeks 6 days 22 hours ago) and read 2771 times:

Quoting MD11Engineer (Reply 6):
I've read a few days ago that, if not for the drop of the dollar in relation to the Euro one litre of petrol in Germany wouldn't cost Euro 1.40 but Euro 1.70.

It's an interesting point, isn't it? When we keep reading how the price of oil has skyrocketed, I wonder how many people have taken into account the fall in the value of the US dollar at the same time.

Quoting MD11Engineer (Reply 6):
It wouldn't be a problem for us in Europe if the Euro or the Pound take over, but it would definitely hurt the American economy big time.

Well, anything that hurts the US economy does hurt us too, no doubt about that.



She's as nervous as a very small nun at a penguin shoot.
User currently offline767Lover From , joined Dec 1969, posts, RR:
Reply 8, posted (6 years 9 months 2 weeks 6 days 22 hours ago) and read 2765 times:

The article is a little misleading and sensationalized.

Gisele Bundchen wants to remain the world's richest model and is insisting that she be paid in almost any currency but the U.S. dollar.

Actually, she asked to be paid in euros for her most recent contract...not "almost any currency but the USD"

Contracts starting now are more attractive in euros because we don't know what will happen to the dollar,'' Patricia Bundchen, the model's twin sister and manager in Brazil, said in a telephone interview in September from Sao Paulo. She declined to discuss details of the arrangements last week.

Also, the "sky is falling" tone of the beginning of the article is tempered toward the end:

U.S. exports were a record $138.2 billion in August, government data show. Net exports added 0.93 percentage point to U.S. gross domestic product last quarter, offsetting a 1.05 percentage point drag from housing, government data show.

''As long as the dollar's decline doesn't trigger inflation, it's a good thing, helping the U.S. economy to stay out of recession,'' said Robert Mundell, a professor at Columbia University in New York who won the Nobel Prize for economics in 1999.


I found this fascinating:

The five-year, 67 percent drop against the Canadian dollar has made it cheaper for fans from Toronto to drive the 110 miles (177 kilometers) to Orchard Park, New York, to watch the Buffalo Bills play football.

Canadians account for 11 percent of the team's season tickets this year, up from 6.5 percent in 2005, according to Scott Berchtold, the Bills' vice president of communications. At yesterday's annual Canada Day game, where the Bills beat the Cincinnati Bengals, a record 23 percent of the 70,745 fans were from Canada, he estimated.


User currently offlineAA7295 From Australia, joined Aug 2007, 620 posts, RR: 0
Reply 9, posted (6 years 9 months 2 weeks 6 days 21 hours ago) and read 2729 times:

The US economy is worth more than US$28 trillion, four time as large as the next largest being Japan with US$7 trillion. Economies do go up and down. This could be the 21st Century start to the great depression. I say lets start it and get it over and done with.

If the US economy fails, it will affect the entire world. Who would buy Chinese, Japanese and European made products. Look at most European companies and the US market alone accounts for at least 20% of their profit.

I have a sneaking suspicion that the USA needs to deal with their national debt. It's rising rapidly. The solution, bring in the democrats because historically they reduce national debt. I have a question for all the economists. What will happen if the USA defaults on their borrowings? Currently debt is around $14 trillion while their eceonomy is worth $28 trillion. What would happen to their economy should debt go to around $30 trillion???


User currently offlineBanco From United Kingdom, joined Oct 2001, 14752 posts, RR: 53
Reply 10, posted (6 years 9 months 2 weeks 6 days 21 hours ago) and read 2718 times:

Quoting AA7295 (Reply 9):
What will happen if the USA defaults on their borrowings?

Jesus Christ!  Wow!

Complete global economic collapse! The entire economic fabric of the world would dissolve. There is absolutely no prospect whatsoever of that happening, thank God.



She's as nervous as a very small nun at a penguin shoot.
User currently offlineBaroque From Australia, joined Apr 2006, 15380 posts, RR: 59
Reply 11, posted (6 years 9 months 2 weeks 6 days 21 hours ago) and read 2690 times:

Quoting Banco (Reply 7):
It's an interesting point, isn't it? When we keep reading how the price of oil has skyrocketed, I wonder how many people have taken into account the fall in the value of the US dollar at the same time.

The non-US oil companies for starters have noticed, together with all the oil and gas exporting countries! When the Aus dollar was at about 65c to the USD oil was at about 65$ and now it is at 92c, oil is at about USD95. Gold has been almost constant over the year in $Aus but is about 30% up in USD. So not only oil, but all the other commodities priced in USD, coal, metals, iron ore, you name it.

In 1973, we had a Min for Mines called Rex Connor who called our mining companies a bunch of hill-billies for writing their contracts in USD and was abused for his cheek. Perhaps his views will come back into fashion.


User currently offlineToast From , joined Dec 1969, posts, RR:
Reply 12, posted (6 years 9 months 2 weeks 6 days 19 hours ago) and read 2637 times:

Quoting 767Lover (Reply 3):
Does anyone know anything about the value of currency that no longer is in production? I have a bunch of pre-Euro stuff and wondered if it will be worth anything someday.

Your pre-euro currency still has the same nominal value as it had when its exchange rate to the euro was established. So even though it isn't legal tender anymore, you can still exchange it against a nice, crisp pile of euros.  Smile The hassle is that you can only do it at the central bank of the country it was issued in. AFAIK, only coins aren't exchangeable anymore in most member states.

I have no idea whether you can exchange your money by correspondence from abroad. Maybe the European Central Bank can help you out. (www.ecb.eu).


User currently offlineAerobalance From United States of America, joined Sep 2000, 4681 posts, RR: 47
Reply 13, posted (6 years 9 months 2 weeks 6 days 19 hours ago) and read 2638 times:

LOL, I've known why my European customers have waited til the 30th day of a Net 30 days term to pay up - can't blame them!


"Sing a song, play guitar, make it snappy..."
User currently offlineL-188 From United States of America, joined Jul 1999, 29795 posts, RR: 58
Reply 14, posted (6 years 9 months 2 weeks 6 days 19 hours ago) and read 2616 times:

Quoting AA7295 (Reply 9):
f the US economy fails, it will affect the entire world. Who would buy Chinese, Japanese and European made products.

Especially the Chinese, who tie their currency to the Dollar.



OBAMA-WORST PRESIDENT EVER....Even SKOORB would be better.
User currently offlineMD11Engineer From Germany, joined Oct 2003, 13985 posts, RR: 62
Reply 15, posted (6 years 9 months 2 weeks 6 days 19 hours ago) and read 2606 times:

Quoting Toast (Reply 12):
Quoting 767Lover (Reply 3):
Does anyone know anything about the value of currency that no longer is in production? I have a bunch of pre-Euro stuff and wondered if it will be worth anything someday.

Your pre-euro currency still has the same nominal value as it had when its exchange rate to the euro was established. So even though it isn't legal tender anymore, you can still exchange it against a nice, crisp pile of euros. Smile The hassle is that you can only do it at the central bank of the country it was issued in. AFAIK, only coins aren't exchangeable anymore in most member states.

I have no idea whether you can exchange your money by correspondence from abroad. Maybe the European Central Bank can help you out. (www.ecb.eu).

On the other hand, some of the money might have developed a collector's value by now.

Jan


User currently offlineLH423 From Canada, joined Jul 1999, 6501 posts, RR: 54
Reply 16, posted (6 years 9 months 2 weeks 6 days 18 hours ago) and read 2598 times:

Quoting MD11Engineer (Reply 6):
, if not for the drop of the dollar in relation to the Euro one litre of petrol in Germany wouldn't cost Euro 1.40 but Euro 1.70.

They're saying the same thing here in Canada. Oil has never been higher yet gas in the Ottawa area refuses to break the $1,00 mark. At least the last time I looked. I don't drive so I don't often see gas stations. But, gas prices are definitely lower than they should be if the CAD wasn't trading above the USD ($1.07 as of yesterday).

Quote:
Gisele Bundchen wants to remain the world's richest model and is insisting that she be paid in almost any currency but the U.S. dollar.

Maybe she should be paid in Brazilian reals.  devil 

LH423



« On ne voit bien qu'avec le cœur. L'essentiel est invisible pour les yeux » Antoine de Saint-Exupéry
User currently offlineFlighty From United States of America, joined Apr 2007, 8472 posts, RR: 2
Reply 17, posted (6 years 9 months 2 weeks 6 days 17 hours ago) and read 2540 times:

Quoting LH423 (Reply 16):
Maybe she should be paid in Brazilian reals.

She does take Reals. Another article said so.

Quoting AA7295 (Reply 9):
I have a sneaking suspicion that the USA needs to deal with their national debt. It's rising rapidly. The solution, bring in the democrats

Hardly. The democrats have been lucky. For example during the 1990s we would have had a boom no matter what. Tax policy did not cause the boom. But Clinton certainly deserves credit for not *destroying* the boom. Which Bush did.

The USA is dealing with its debt by devaluing its currency (which devalues the debt). Additionally, this causes imports to fall and exports to rise. This allows the USA to get rid of its deficit and start paying down debt. The USA still has a lot of human capital, machinery, and talent. The USA participates in the top rung of most every industry, so in that sense the USA can just charge more dollars and endure a bit of inflation. I think inflation is likely to happen in the USA in order to pay for the Iraq War. It'd uncivilized, but it gets the job done.


User currently offlineMD11Engineer From Germany, joined Oct 2003, 13985 posts, RR: 62
Reply 18, posted (6 years 9 months 2 weeks 6 days 17 hours ago) and read 2521 times:

Quoting Flighty (Reply 17):
The USA is dealing with its debt by devaluing its currency (which devalues the debt).

But this is exactly what Germany did in 1920 to pay the reparations after WW1. Ok, the country exported more (though back then countries were usually more protectionist, e.g. the famous "Made in Germany" label introduced by the British, which backfired because many German products were of a higher quality than British ones and instead of blocking German imports became a sign of quality). The result was that a few people profited from the drop in value of the Reichsmark, but the majority of the population became impoverished.

Jan


User currently offlineAM744 From Mexico, joined Jun 2001, 1776 posts, RR: 0
Reply 19, posted (6 years 9 months 2 weeks 6 days 17 hours ago) and read 2519 times:

Quoting LH423 (Reply 16):
Maybe she should be paid in Brazilian reals.

Even those might be rising against the USD. The MXP has.


User currently offlineWildcatYXU From Canada, joined May 2006, 2603 posts, RR: 5
Reply 20, posted (6 years 9 months 2 weeks 6 days 17 hours ago) and read 2501 times:

Quoting Flighty (Reply 17):
The USA is dealing with its debt by devaluing its currency (which devalues the debt). Additionally, this causes imports to fall and exports to rise.

 checkmark 

Some of my friends who have customers from the US can already feel it. Projects that were profitable two years ago are getting very close to red numbers. I wonder how much longer will it take to the jobs exported from the US to come back...


User currently offlineBanco From United Kingdom, joined Oct 2001, 14752 posts, RR: 53
Reply 21, posted (6 years 9 months 2 weeks 6 days 17 hours ago) and read 2499 times:

Quoting MD11Engineer (Reply 18):
though back then countries were usually more protectionist

They were only protectionist in that immediate period post-WWI. Previous to that, the Pax Britannica had ensured free trade across most of the world - because it was in Britain's interests of course.



She's as nervous as a very small nun at a penguin shoot.
User currently offlineLH423 From Canada, joined Jul 1999, 6501 posts, RR: 54
Reply 22, posted (6 years 9 months 2 weeks 6 days 17 hours ago) and read 2475 times:

Quoting AM744 (Reply 19):
Even those might be rising against the USD. The MXP has.

Dare I say that the value of flatulence is rising against the USD.  biggrin 

LH423



« On ne voit bien qu'avec le cœur. L'essentiel est invisible pour les yeux » Antoine de Saint-Exupéry
User currently offlineDerico From Argentina, joined Dec 1999, 4304 posts, RR: 12
Reply 23, posted (6 years 9 months 2 weeks 6 days 17 hours ago) and read 2473 times:

Quoting LH423 (Reply 16):
Maybe she should be paid in Brazilian reals

Actually every currency in Latin America has moved significantly higher to the dollar:

Brazilian real: 2,90 to 1,70
Colombian Peso: 2.700 to 1.900
Chilean Peso: 620 to 510
Peruvian Sol: 3,60 to 3,27
Uruguayan Peso: 31 to 24 (and they are next to Argentina)
Mexican Peso: 11,2 to 10,7

The only currency that has not appreciated is the Argentine Peso, which has actually devalued against the dollar. And since the rest of the world's currencies have risen against the dollar, they have appreciated double.

Quoting AA7295 (Reply 9):
The US economy is worth more than US$28 trillion,

No way it is. The World economy is about 42 trillion, and there's no way the US is 60% of world GDP. Even at the peak of US economic power in the 1950s (with a destroyed Europe, a still struggling Japan, and China, India, Brazil etc still underdeveloping), it was 50% of world GDP.



My internet was not shut down, the internet has shut me down
User currently offlineLH423 From Canada, joined Jul 1999, 6501 posts, RR: 54
Reply 24, posted (6 years 9 months 2 weeks 6 days 16 hours ago) and read 2464 times:

Quoting Derico (Reply 23):
The only currency that has not appreciated is the Argentine Peso, which has actually devalued against the dollar.

And I trust you'll be doing your best to keep it that way until the after the next time I visit Argentina? lol

Why is that, out of curiosity? I recall it getting better for a while after I was last in Argentina in 2005.

LH423



« On ne voit bien qu'avec le cœur. L'essentiel est invisible pour les yeux » Antoine de Saint-Exupéry
25 Derico : It's being artificially devalued by the Central Bank buying record amount of dollars, reserves are approaching 50 billion, for a country of 38 millio
26 Post contains images Arrow : Not in Washington. This affects me personally. I have a client in New York who has owed me about $US1500 for nearly six weeks now. When I did the wor
27 Slider : Gisele, that economics major... Hey baby, go back and give Tom Brady some love. And shut up.
28 MD11Engineer : She sees it quite right: If she gets paid in dollars, she is loosing money. Jan
29 N1120A : I don't think many people have. That all depends. Ya think? The national debt is the most serious problem facing this country. They can float anytime
30 Slider : That doesn't mean she has a brain to go with it. In fact, I’d say standing around in lingerie is probably one of her best attributes, and that’s
31 Post contains images MD11Engineer : You could try it and see if somebody (outside the "Blue Oyster" bar) wants to buy the pictures. Jan
32 Post contains links Arrow : There's a momentum building here that does not look healthy. The world will not be improved by a collapse of the US dollar, but we're getting dangerou
33 Post contains images DeltaGator : Why? You trying to get in the sack with a UA stewardess now and she is more high maintenance?
34 Mham001 : I assume you are talking about the late 90's. If so, you need to remember it was the Republican controlled Congress that led Clinton, kicking and scr
35 StarAC17 : Soon NHL players on Canadian teams will want to be payed in Canadian.
36 PPVRA : She probably knows a thing or two from experience in her home country.
37 Tom in NO : I forget what comedy show I saw it on, and it must be at least 20 years ago...but there was line in it to wit: "it's nice that they take dollars these
38 USFlyer MSP : I was in Buffalo a few weeks ago and make the mistake of attempting to go to the mall. There were Canadians everywhere, at least half of the people,
39 Post contains links Aaron747 : Americans don't think about these things much at all. A few comments I liked from Jim Rogers on FT: The dollar is a flawed currency. America owes the
40 CupraIbiza : They wont do that. The last one who tried that was Mr Hussein of Iraq Oh Baroque!! Dont get me started on that era!!
41 N1120A : It means she has management that are making the deals for her. Cute. Actually, I am off on a trip to Morocco tomorrow and the room is priced in Euros
42 L-188 : They can but not without causing significant harm to themselves since they hold so much of our debt. Agreed, the economy started headed the wrong way
43 Luisde8cd : Venezuela's Bolivar has gone from 2800 Bs/USD on Nov 2006 to 6600Bs/USD in Nov 2007, that's a 135% devaluation against the USD. Venezuela's real infl
44 Flighty : Lots of things... the world buying US assets, which are very valuable... The world building new factories or law offices / drug research centers in t
45 Post contains images BA : What does a supermodel know about currency valuation?
46 Klaus : And look where the invasion that followed has brought the USA! The US simply doesn't have many expendable resources left to stem that tide another ti
47 Oldeuropean : Some Mark and Pfennig coins can be worth up to 500 Euros. It depends on the year of issue and the place, where they were produced (single letters on
48 Baroque : Best to find out what actually happened and not the fictions from the Liberal party. Connors negotiations with Khemlani were indeed a scandal and he
49 CupraIbiza : Hey I will read anything written by anyone! cant find anything about Utah and GE on the net. Maybe I would need to go into those buildings that have r
50 Aaron747 : Which is precisely why they've now indicated they will begin divesting themselves of dollar interests.
51 Post contains images Baroque : He will indeed. A fact little publicised for obvious reasons is that Keating was more a follower of Connor than of most of the other folk he was supp
52 Arrow : We're watching that one closely; Rio Tinto having just swallowed Alcan. There's a $2B proposed smelter modernization plan in a little town called Kit
53 Post contains images Baroque : In my haste I think I got the number wrong, it might be more like USD120 billion wandering around. Being swallowed by Rio is one sort of fate, being
54 Flighty : The USD is falling against Europe mainly. The Asian currencies are going down along with the Dollar. They export to the USA mainly, so they need to p
55 RacingGreen07 : I know people who are taking advantage of the falling Dollar by buying it while it is low and then soon enough when the economy picks up and the price
56 QANTAS077 : copped a hammering against the Australian dollar too...AUD is probably the 3rd or 4th most traded currency in the world and much of it is to do with
57 Post contains images OHLHD : I have brought up this topic in my company since we are getting paid our duty-travel extras in US Dollars and it is a big loss that we (employees) are
58 Klaus : "Soon enough", eh? I hope they have deep pockets and are in it for the long haul then; I wouldn't expect any major comeback of the US$ before credibl
59 UAL777 : Either event would be horrible for the world economy. The problem is that everything is tied into the dollar right now so changing the reserve curren
60 Klaus : That changeover is already happening, just not abruptly. And for the rest of the world including the eurozone it wouldn't be particularly disruptive.
61 Flighty : The strengthening of the Euro is not "clearly positive" for Europe. There are good parts, but also bad parts. Tourists love it, but exporters such as
62 Klaus : The Euro increasingly becoming a major reserve currency (possibly on its way to the primary reserve currency) is clearly a positive development. Not
63 CasInterest : The US dollar will continue to decline until the following items play out. 1. The internal Mortgage/Lending crisis stabilizes. In all honesty the stab
64 Post contains links Pellegrine : I sure would take Euros if I could. Or Swiss Francs. Even Jay-Z's flashing 500 Euro bills (instead of the staple of a moneyed rapper, the stack of $10
Top Of Page
Forum Index

This topic is archived and can not be replied to any more.

Printer friendly format

Similar topics:More similar topics...
London 2012 - NO Thank You posted Thu Sep 23 2004 05:10:40 by Propulsion
"Black Sabbath? No Satan Music Thank You." posted Thu Feb 24 2005 15:39:18 by Thom@s
Thank You Orbitz. The Way Business Should Be Done. posted Mon Jul 23 2007 21:48:48 by Vio
I Love Grolsch. Thank You ANCflyer. posted Tue Mar 6 2007 08:02:05 by LOT767-300ER
Thank You For Not Shitting posted Fri Jan 5 2007 12:23:50 by WILCO737
Polar Bears: Doing Just Fine Thank You posted Wed Jan 3 2007 18:38:44 by MaverickM11
Gracias / Thank You Mexico! posted Sun Dec 24 2006 06:19:43 by Luisde8cd
A Big Thank You To KevinL1011 posted Sat Dec 9 2006 22:50:08 by Cosec59
Tips For Buenos Aires Needed, Thank You! posted Sun Oct 8 2006 22:52:37 by Avianca
Thank You Zidane! posted Sun Jul 2 2006 00:34:22 by EZEIZA