Oh Great! Euro hits $1.51

Apr 23rd, 2008, 05:25 PM
  #81  
 
Join Date: Apr 2008
Posts: 91
I understand quite well, YOU are the one that doesn't understand but it's pointless as you're to brainwashed by the globalists to see it differently.
ronnie36 is offline  
Apr 24th, 2008, 03:47 AM
  #82  
 
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>My exception, foreign aid should be used for disaster relief such as a famine but it should be a joint effort amongts countries.

But it is already the case!
altamiro is offline  
Apr 24th, 2008, 04:43 AM
  #83  
 
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Fact and prejudice make poor bedfellows.
Padraig is offline  
May 7th, 2008, 05:54 AM
  #84  
 
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I started a budget last August for the trip I just took to Greece in late April. The dollar plummeted and I got worried. However, with the savvy help of some experienced Fodorites and more public transportation that taxis, I was able to do my trip on budget, with not much given up in the way of food or siteseeing. I was amazed!

My next question is whether to start stockpiling a few Euros now for a trip I would love to take in Spain in two years? What do you think?
seeksocean is offline  
May 7th, 2008, 06:02 AM
  #85  
 
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I have the same question as seekocean. Going to France in a few weeks, and half of our rent is due upon our arrival, plus deposit. Wondering if it's good sense to pay for it on credit card while the euro is at 1.55 (a few weeks ago it was at 1.60), or get euros from friends abroad and start stockpiling?
citrouille is offline  
May 7th, 2008, 06:05 AM
  #86  
 
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From today's New York Times about euro/dollar:


http://www.nytimes.com/2008/05/07/bu...q391d6eR7HOM9Q
ekscrunchy is offline  
May 7th, 2008, 06:21 AM
  #87  
 
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I don't know about foreign exchange futures. If I did, I would not be here dispensing advice; I'd be busy in the marketplace trading and making a fortune.

Don't believe anybody who claims to know the answers. All you will get is an opinion.
Padraig is offline  
May 7th, 2008, 06:32 AM
  #88  
 
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I think that NYT article was a lot of spin from the powers that be, not unlike those funny quotes from Paulson about how he supports a strong dollar.

Ha ha, what a joke. The dollar is in deep doo doo and they will keep lowering the interest rates as far as it will go.

The mortgage crisis has barely begun & stagflation seems to be the name of the game for a while.

I am not big on Fox news, but I think Peter Schiff is telling the truth here:
http://www.europac.net/Schiff-Fox-5-1-08_lg.asp

I think one has to look deeper than spin to sort out the facts these days. This is a good source for what the real statistics are:

http://www.shadowstats.com/

All I can say is, I am really glad that we mostly got out of the dollar when it was high before we left on our world tour.

WTnow is offline  
May 7th, 2008, 07:22 AM
  #89  
 
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Just thought I'd let you know that athough I used my ATM to take out about 300 Euros at a time, I did bring a little cash and got around .61 to the dollar. I didn't go to the rip-off airport or bank money changers, but the reputable places on the street. My dollar went so much further than I thought it would.
seeksocean is offline  
May 7th, 2008, 07:24 AM
  #90  
 
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Oh ya.... Also I ALWAYS got a discount for paying Euro cash at hotels. As much as 20%. It pays to ask when you check in! So, I really didn't use my credit card, which charges 3%, just my ATM.
seeksocean is offline  
May 7th, 2008, 07:52 AM
  #91  
 
Join Date: Sep 2004
Posts: 648
A lot of posters have been advising on this forum for years not to get euros in advance, and continue to do so now. We're going thru a very unsettled period, economically. Things change. Buying currency is the same as buying stock, in many ways. Yes, it costs more to change money in the USA, and it's important to know what exchange rate and fees you are paying.

The one advantage in buying euros now for a future trip is that you would be locking in on the cost of your trip (or a portion of it, anyway). Otherwise, you have no idea where the euro will be, 6 months from now. No one does.
LAwoman is online now  
May 7th, 2008, 08:07 AM
  #92  
 
Join Date: Feb 2003
Posts: 7,525
Essentially what you are doing is agreeing to pay 4-6% more than the current exchange rate. If the home currency goes down more than that, you are ahead. If not...

Another way to look at it, how many euros would you spend on a typical trip, assuming you use crecit cards for hotel, some purchases?

Would it be...1000, 2000 euros? If 2000, buying ahead of time (call it insurance) would cost you say $120. If the currency took a really large downward swing, say 10%, that 2000 euros would cost you $200 more than today. So in that instance....pay $120 insurance to get a net benefit of $80.

I'm willing to take my chances.




Michel_Paris is offline  
May 7th, 2008, 08:11 AM
  #93  
 
Join Date: Sep 2004
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Right, Michel, I'm not saying it's the right thing to do. I just think it deserves more consideration now than it has in the past.
LAwoman is online now  

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