BUT european businesses don't want to disclaim those 2 % or 3 %! ----- Original Message ----- From: "kilopascal" <[EMAIL PROTECTED]> To: <[EMAIL PROTECTED]>; "U.S. Metric Association" <[EMAIL PROTECTED]> Sent: Thursday, September 05, 2002 11:34 PM Subject: Re: [USMA:22088] Re: Fwd: RE: Spanish dollar
> 2002-09-05 > > Credit Cards are both a blessing and a curse. Many businesses like credit > cards, even if they have to pay a fee. They feel that it helps bring in > customers who normally would not be able to purchase their products due to > lack of funds. They feel the 2-3 % surcharge is worth it. It doesn't cut > into their profits as they add that cost into the price of the product. The > bank that the shop does business with pays the shop keeper right away as > soon as he/she turns the receipts into the bank for processing. Even if the > customer may not pay the bank for months, or possibly never. > > Due to the status of the US dollar and the huge investment into the US > banking system by foreign investors, the banks never had to worry about loss > of funds due to the outflow of money to the shops and the delay of the > inflow from consumers. Foreign investors kept the banks assets solvent and > stable. As a result, credit card usage was encouraged as a stimulus to > business and the economy. > > But, those days have ended. Since the scandals of the past year have soured > foreign confidence in the US economy, billions of dollars (milliards of > euros) have been removed from the US economy. The banks have not yet felt > the effect of the loss, but in time they will. Delay in payments is not as > bad as not paying at all due to the ease of personal bankruptcy. However, > the US congress is presently working on reform to the bankruptcy laws which > will make it harder for those that claim bankruptcy to be completely excused > of all of their debts. They will have to pay back their debts in one form > or another. Such a reform will end the free abuse of credit cards as a > means to obtaining goods without intent to pay back. Some consumers will > stop using them all-together as they will fear that if they get into too > much debt they will lose something as valuable as their home. > > As a result, the free spending US economy will have to be more conservative > and as a result the economy will be sluggish and weak for decades to come. > This may have a positive appeal to go metric. As local businesses that > depended solely on US customers finds that the US customer base isn't there > as it once was, will have no choice but to at least approach the metric > issue with an open mind if it chooses to export into markets where not being > metric is an automatic no-way. Even if we can't hope for government action, > we can at least hope that those companies that do convert for their own > survival create enough of a demand for metric products that it drives the > cost of the FFU equivalents up high enough to be pushed out of the market. > > Somehow the concept of not being metric as being part of the reason for a > weak economy has to be realised or no effort to convert will ever occur. > The myth of metric costing more or conversion costing an arm and leg has to > be dispelled. How do we get the point across that the two are somehow > related? > > John > > > > > > ----- Original Message ----- > From: "Wizard of OS" <[EMAIL PROTECTED]> > To: "U.S. Metric Association" <[EMAIL PROTECTED]> > Sent: Thursday, 2002-09-05 16:09 > Subject: [USMA:22088] Re: Fwd: RE: Spanish dollar > > > > > > > > > The only advantage of 1 � (euro) bill is for the > > > companies which sell paper/ink for making the bill. > > > Since a bill wears out every 1 1/2 years, they will > > > get regular order, whereas a coin lasts for 30 years. > > > > I had some Pfennige from 1949!!! > > > > > > > By the way, I wonder why euro has denominations of > > > 5, 10, 20, 50, 100, 200 & 500 > > > when US $ has denominations of > > > $1, $2, $5, $10, $20, $50 and $100 > > > > easy explanation, electronic payment isn't welcome in europe, people > prefer > > cash. > > almost all shops accept EC Card but virtually no one Credit Cards, no shop > > wants to pay for the fees! > > > > > http://treasury.gov/education/faq/currency/denominations.html > > > > > > Bigger denominations help only smugglers and black > > > marketers. I hope the World gets rid of these bad > > > guys. > > > > > > Madan > > > > > > --- Han Maenen <[EMAIL PROTECTED]> wrote: > > > > From: "Han Maenen" <[EMAIL PROTECTED]> > > > > To: "U.S. Metric Association" <[EMAIL PROTECTED]> > > > > Subject: [USMA:22078] RE: Spanish dollar > > > > Date: Wed, 4 Sep 2002 08:35:14 +0200 > > > > > > > > Too bad that I have to report that there is a > > > > backlash against the euro here > > > > as it is blamed for price rises and most people > > > > continue to convert > > > > everything back to guilders. I hope that this stupid > > > > backlash will ebb off > > > > soon. > > > > And there is the folly of an Italian proposal to > > > > introduce a 1 euro > > > > banknote. Two reasons are given, and I reject both. > > > > They claim that a bank > > > > note will give a better insight of inflation to the > > > > people. I do not know > > > > how. The second reason is, that as the US ha a one > > > > dollar note, we should > > > > have a 1 euro note. Let's go develop that notion a > > > > bit further: as the USA > > > > uses ifp, the EU should also use it. > > > > > > > > BTW: that stuff about a price of .25 cents was > > > > hilarious! > > > > > > > > Han > > > > > > > > > > > > > > > > > __________________________________________________ > > > Do You Yahoo!? > > > Yahoo! Finance - Get real-time stock quotes > > > http://finance.yahoo.com > > > > > > > > >
