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Pastimes : The Big Picture - Economics and Investing
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To: Staff who wrote (475)12/2/1997 1:07:00 AM
From: mozek  Read Replies (1) of 686
 
Staff,

Could have been a great move. We'll find out eventually. There is just so much supply of gold coming to the market, EU, Australia, Swiss Banks, etc, that it seems likely it will continue to drop. Maybe not, but what keeps it up? Supply and demand like everything else. I haven't travelled to every single country in the world, but I've been to quite a few and never had a problem using dollars.

In Hungary, I couldn't use Forents (Hungarian currency) in the train stations without a paper proving that I got them from a bank. Dollars were fine by themselves. In fact, I've used Dollars without exchanging in at least 5 countries.

Even before the Soviet Union's fall, Dollars and other "hard currency" could purchase goods which weren't available with soft currencies.

Gotta go to bed. Good luck!

Thanks,
Mike
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