tag:blogger.com,1999:blog-20417751.post5229765040514651663..comments2024-01-22T18:22:29.391-08:00Comments on hedera's corner: U.S. Dollarshederahttp://www.blogger.com/profile/01696592301686568456noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-20417751.post-2810956308215288172008-01-06T17:20:00.000-08:002008-01-06T17:20:00.000-08:00I remember when I lived in Japan, the dollar was v...I remember when I lived in Japan, the dollar was very strong--something like 238 yen to the dollar if I recall correctly. The Japanese 1 yen coins were made out of aluminum alloy, and were so light they'd blow away if you tossed them up in a stiff wind. <BR/><BR/>The big problem with currency conversion is that they charge everyone so much for the "convenience" these days. Thomas Cook used to sell you foreign money for about 4%. Nowadays, watch out, they'll hit you for 12% PLUS a flat fee. Ouch. <BR/><BR/>I trade a certain amount in pounds and euros. Banks really treat people like sh*t. They'll charge you 15-30 pounds to "convert" dollars to pounds and back again. In this day and age of computerized transactions, that's absolute highway robbery. It's as outmoded as demanding a 7-10 day float for check deposits. The fact is: The bank teller is LOOKING at the balance of the account from which my creditor is paying via the check I've just handed her as I'm standing at the window. <BR/><BR/>Banks are cleaning up on "floats" and conversions these days. Our Federal Government facilitates this through lax regulation and corporate friendly legislation. We all pay for their greed.Curtis Favillehttps://www.blogger.com/profile/06213075853354387634noreply@blogger.com