Hello John Please dont support Cuba in the name of metric. Castro has ruined the country in the name of socialism, revolution and all such nonsense.
As for the Euro support, China was the 1st country to convert some of their foreign exchange to Euro. Out of their 200 G$ reserve, they purchased 500 million euros. I read this long time back and I dont have the URL. Madan --- kilopascal <[EMAIL PROTECTED]> wrote: > From: "kilopascal" <[EMAIL PROTECTED]> > To: "U.S. Metric Association" <[EMAIL PROTECTED]> > Subject: [USMA:20325] First Britain, now Cuba > Date: Sun, 2 Jun 2002 11:55:18 -0400 > Reply-to: [EMAIL PROTECTED] > > 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 > > > __________________________________________________ Do You Yahoo!? Yahoo! - Official partner of 2002 FIFA World Cup http://fifaworldcup.yahoo.com
