2002-06-02 This is no attempt to support Cuba or its present government. It was meant to show examples of the increasing growth of the Euro.
BTW, where did that 80 % figure you provided come from? And where did you hear the mint was going to change the colour of US money? Are there websites for this info? John ----- Original Message ----- From: "M R" <[EMAIL PROTECTED]> To: "U.S. Metric Association" <[EMAIL PROTECTED]> Sent: Sunday, 2002-06-02 21:58 Subject: [USMA:20330] Fwd: First Britain, now Cuba > 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 > >
