Dollars tough to sell on streets of Amsterdam

[Gunit Hussein Sangh]

Can you imagine the howls coming from the right-wing nut smear machine if a democrat was president while something like this occurred

But we have "strong" fundamentals!

Mon Mar 17, 2008 12:51pm EDT
AMSTERDAM (Reuters) - The U.S. dollar's value is dropping so fast against the euro that small currency outlets in Amsterdam are turning away tourists seeking to sell their dollars for local money while on vacation in the Netherlands.

"Our dollar is worth maybe zero over here," said Mary Kelly, an American tourist from Indianapolis, Indiana, in front of the Anne Frank house. "It's hard to find a place to exchange. We have to go downtown, to the central station or post office."

That's because the smaller currency exchanges -- despite buy/sell spreads that make it easier for them to make money by exchanging small amounts of currency -- don't want to be caught holding dollars that could be worth less by the time they can sell them.

The dollar hovered near record lows on Monday, with one euro worth around $1.58 versus $1.47 a month ago.

http://www.reuters.com/article/ousiv/idUSL1758265520080317

[Vermouth]

The euro rose above $1.60 on Tuesday for the first time, contributing to a further increase in the price of oil as investors moved into commodities to hedge against inflation.

• The US dollar has fallen 25% since 2002.
• The US dollar has fallen 15% against the euro in the last 12 months.
• The price of oil is up 24% this year.

[SDML]

Y'all had your chance to vote for Ron Paul. But nooooooo....

Now we're fucked.