Thursday, January 03, 2008

The dollar no longer legal tender?

posted by Bill Arnett @ 2:53 PM Permalink

From Raw Story comes the shocking news that some tourists sites will no longer accept payment in U.S. dollars:
In a sign of how the once mighty U.S. dollar has fallen, India's tourism minister said Thursday that U.S. dollars will no longer be accepted at the country's heritage tourist sites, like the famed Taj Mahal.

For years the dollar was worth about 50 rupees and tourists visiting most sites in India were charged either $5 or 250 rupees.

But with the dollar at a nine-year low against the rupee — falling 11 percent in 2007 alone and now hovering at around 39 rupees — that deal has become a losing proposition for the tourism industry.
This could explain why Disneyland now requires entry payment in Japanese yen; Taco Bell, McDonalds, and Wendy's will only accept Mexican pesos; and why at any Six Flags theme parks you will now be expected to pay in Canadian dollars.

Or not. Many companies, including Macys, Target, K-Mart, and food grocers Safeway, Albertsons, Food for Less, 7-11, and Circle K are installing the scales and giving employees the training they will need to accept only gold bullion or assayed gold dust in payment for their goods.

The Chinese Panda, Canadian Maple Leaf, African Krugerand, and American Gold Eagles will remain acceptable for both commerce and trading.

There has been no mention of using silver, much to the Hunt Brothers dismay.

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