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View Diary: New: concern trolling the euro (241 comments)

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  •  Yes, if you want to make a special trip (0+ / 0-)

    to the National Bank of the country.

    Depending on the country, the transition period would be 18 months to 5 years, and the biggest reason for invalidating the old notes was to frustrate counterfeiting.

    But an American, who has the historical expectation of his paper currency's being accepted as valid in perpetuity, is not well served by buying another country's paper and keeping it under his pillow for a decade or two.

    •  Nor is it a good idea (1+ / 0-)
      Recommended by:

      to keep any kind of currency under your pillow for a decade or two...if nothing else, inflation will make it worth much less. Better to keep it in an FDIC insured account where it will earn interest...particularly the online banks like INGDirect that pay a decent rate of return.

      "All governments lie, but disaster lies in wait for countries whose officials smoke the same hashish they give out." --I.F. Stone

      by Alice in Florida on Tue Nov 27, 2007 at 03:31:20 PM PST

      [ Parent ]

      •  Well, it depends on the decade. (1+ / 0-)
        Recommended by:

        Certainly if the US economy -- and dollar -- start recovering, one would be wise to sell one's paper Euros  and realize a nice profit.  As long as the dollar keeps falling against the Euro, however, holding on to the Euros is smart, especially if the devaluation rate exceeds the CD/money market rate.

        This much said, paper burns, of course.

        •  well, you know, europeans have debt instruments. (2+ / 0-)
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          hairspray, celticmuse

          it's not like americans invented usury. you could always deposit your euros into a european bank account.

          I am further of the opinion that the President must be impeached and removed from office!

          by UntimelyRippd on Tue Nov 27, 2007 at 06:48:50 PM PST

          [ Parent ]

          •  You have to have a European address first. (1+ / 0-)
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            Under pressure from -- you guessed it -- Uncle Sam, most European countries won't allow their banks to open personal accounts for people who aren't residents.

            I know; I've tried.  Should've kept the ones I had when I lived there.

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