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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (43214)	1/13/1999 2:17:00 PM
From: Tommaso	Read Replies (2) \| Respond to of 132070

I would think that with Germany as a major force, there would be little likelihood of excess creation of Euro credits. I never have had an account in Swiss Francs, but can recall when the Swiss were charging negative interest for Americans who wanted to hold their money that way. Also, you would be expected to report the existence of such an account on your income tax. It may turn out to be a silly little adventure, but I was delighted to find that as a member of the American Automobile Association I could buy Swiss Franc travelers checks with no fee whatever. Much simpler than opening a checking account in Switzerland. And if you went to a bank anywhere in Switzerland you would get the full value of the checks. I do like the idea of these. They could not even be detected on airport metal-detectors; I have often wondered what would happen if I tried to go through with a half-kilo of gold coins in my pockets. At some point Euro travelers checks would be even nicer since I suppose you could go to any bank in France, Italy, etc and wlak out with the same amount of currency rather than being stiffed for an exchange fee. And they would make a good store of value, if our government keeps inflating the money supply the way they used to do in Italy. Some really enterprising agency might start all over again with gold certificates, redeeming them world wide at the current price of gold minus a small percentage. I guess I could have bought Yen-denominated travlers checks, but if you tried to exchange these in the US you would probably lose several percent of the value.