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

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  •  This comment does not give a fair impression (4+ / 0-)
    Recommended by:
    Aexia, ER Doc, dirtfarmer, Joffan

    You're acting like it's risky to keep Euro notes around, or that Europeans are in the habit of screwing people out of their money.  All of the Euro-zone countries continue to honor their old pre-Euro currencies, at least for banknotes, with some countries imposing a 2012 deadline (that is, ten years after the conversion).

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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.

    •  Nothing on your site indicating (0+ / 0-)

      how long the current paper Euro series will remain legal tender after it is inevitably replaced by the next series, which is what I was talking about.

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