Unfortunately the nytimes website is not directly accessible. The bbc website has the story:
http://news.bbc.co.uk/hi/english/world/americas/newsid_2020000/2020234.s tm -- Terry Simpson Human Factors Consultant [EMAIL PROTECTED] www.connected-systems.com Phone: +44 7850 511794 > -----Original Message----- > From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED]] On Behalf > Of kilopascal > Sent: 02 June 2002 16:55 > To: U.S. Metric Association > Subject: [USMA:20325] First Britain, now Cuba > > Cuba Resort Shifts to Euro > By REUTERS > > > > ARADERO, Cuba, June 1 (Reuters) - Cuba, thumbing its nose at the United > States, officially put the euro into circulation at its top holiday resort > here today. Receipts are printed in dollars and euros, saving European > tourists the trouble of changing their currency for dollars. > > Cuba, the first Latin American nation where the euro is widely accepted, > plans to extend the use of the euro to all resorts by next year. > > Washington has imposed a trade embargo on Cuba for four decades and bans > Americans from spending dollars on the island. Cuba legalised possession > of > dollars in 1993. > > Also, read this: > > http://www.nytimes.com/reuters/business/business-markets-dollar- > investments. > html > > John > > > > > > ----- Original Message ----- > From: "M R" <[EMAIL PROTECTED]> > To: "U.S. Metric Association" <[EMAIL PROTECTED]> > Sent: Sunday, 2002-06-02 09:52 > Subject: [USMA:20321] Fwd: Re: Fwd: 'Euro-creep' starts slowly > > > > Sorry John > > > > You assume that Americans will sit and watch the > > Euro overtaking US $. > > No - for the following reasons > > 1. Already the Federal Reserve is considering > > introducing color bills both to avoid counterfeiting > > and making it easy to distinguish. So it will be > > called 'greenback' no more. > > 2. At later stage they may change the size of the > > bills to make it even more easier to distinguish. > > 3. If needed they may even replace the faces of > > political leaders (like Washington, Lincoln, etc) > > with tourist attractions like > > Capitol Hill, Statue of Liberty, Niagara, etc. > > Can the Europeans match. > > > > If the Euro's strength really hurts US economy, then > > they will go for the final act > > 'Replace FFU with SI' - hope you like this. > > > > Madan > > > > --- kilopascal <[EMAIL PROTECTED]> wrote: > > > From: "kilopascal" <[EMAIL PROTECTED]> > > > To: "U.S. Metric Association" <[EMAIL PROTECTED]> > > > Subject: [USMA:20317] Re: Fwd: 'Euro-creep' starts > > > slowly > > > Date: Sat, 1 Jun 2002 14:16:04 -0400 > > > Reply-to: [EMAIL PROTECTED] > > > > > > 2002-06-01 > > > > > > The increase of the Euro at the expense of the > > > Dollar will hurt the American > > > economy. That is a fact! > > > > > > The US economy is heavily driven and dependant on > > > credit and debt. > > > Americans are encouraged to spend frivolously, even > > > if they don't have the > > > money to support such buying habits. The difference > > > is made up in buying on > > > credit. It is not uncommon for the typical US > > > consumer to be tens of > > > thousands of dollars in debt. And it is not > > > uncommon for said consumer to > > > pay little on that debt even as interest charges are > > > applied. > > > > > > In most countries, such a state could not exist > > > without causing a total > > > financial collapse, as was witnessed recently in > > > Argentina. But, America is > > > able to support its high debt by the investment and > > > confidence the world > > > holds for the dollar. The use of the dollar is what > > > pays for America's > > > debt. It keeps US bankruptcy laws weak, allowing > > > for citizens to default on > > > their debts without having the effect of causing the > > > banking system to > > > collapse. > > > > > > The US must take in 1.3 G$/day to support the debt > > > of the US economy. > > > Without that income, the debt must be supported from > > > other means. One of > > > those means would be to amend the bankruptcy laws > > > making payback of debt by > > > consumers and business a must. No more excusing of > > > bad debt. Consumers and > > > businesses that must use their limited incomes to > > > pay off debt, will not be > > > spending money on goods and services that stimulate > > > the economy. Thus a > > > further decline of the economy will result and an > > > increase in poverty. > > > > > > This is why the Canadian dollar and other currencies > > > are weak. There is > > > nothing fundamentally wrong with their economies. > > > The US government is just > > > as wasteful of money as any other government is. > > > Buy, Canadians and others > > > have no confidence in their own currency. That lack > > > of confidence > > > translates into a weak currency. If Canadians > > > supported their own currency > > > in both Canada and abroad, its value would increase. > > > But, they don't. They > > > belittle it. If only they knew that by doing so, > > > they are only hurting them > > > selves. If Canada seems to be stable, it is due to > > > the large reserves of US > > > dollars in their banks and businesses. > > > > > > So, when I say the increase in the value of the Euro > > > and the increased > > > confidence in the Euro will hurt the US economy, > > > this is what I meant. And > > > it should be that way. Why should Americans have a > > > free lunch and nobody > > > else can? > > > > > > American economists are frightened of the Euro. > > > They know the party is > > > over. What they don't know is how long they will > > > have to endure a weak > > > economy or what it will do to America's desire to > > > control the global > > > economy. > > > > > > So, now do you understand where I am coming from? > > > > > > John > > > > > > > > > ----- Original Message ----- > > > From: "Louis JOURDAN" <[EMAIL PROTECTED]> > > > To: <[EMAIL PROTECTED]>; "U.S. Metric Association" > > > <[EMAIL PROTECTED]> > > > Sent: Saturday, 2002-06-01 01:16 > > > Subject: Re: [USMA:20292] Re: Fwd: 'Euro-creep' > > > starts slowly > > > > > > > > > > At 20:02 -0400 02/05/31, kilopascal wrote: > > > > >2002-05-31 > > > > > > > > > >After carefully thinking about your conclusion, > > > I'm going to disagree. > > > You > > > > >are assuming that the dollar will remain at 80 % > > > and the Euro will only > > > > >replace the present usage for the Mark, the Franc > > > and the Pound Sterling. > > > I > > > > >expect that 80 % to dwindle, for the following > > > reasons: > > > > > > > > John, I agree with most points of your analysis > > > > > > > > >The exact amount of power the Euro will take from > > > the Dollar is unknown, > > > but > > > > >rest assured what ever it is, it will have a > > > negative effect on the US > > > > >economy. > > > > > > > > but here I disagree : there is no reason that the > > > euro damages US > > > > economy, on the contrary. What it could hurt is > > > the dollar supremacy > > > > in international financial transactions. > > > > > > > > In any case it will be a factor of equilibrium and > > > stability. > > > > > > > > Louis > > > > > > > > > __________________________________________________ > > Do You Yahoo!? > > Yahoo! - Official partner of 2002 FIFA World Cup > > http://fifaworldcup.yahoo.com > >
