Other countries that use U.S. currency

I got both US and Ecuadorian coins as change.

When I used a new US quarter (I think it was Perry's) the cashier did look at it curiously for a moment.

 

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In a way it has already happened. No one wants the treasuries we have to sell now to finance the nanny state. So the Fed buys them. That is a private bank folks....what is the old saying "follow the money".....

 

This SCARES me, inflation is theft, a unannounced tax no more no less.....1% is tolerable if you can get a 2% return...but remember, the Gobmint will take its share so you need around 8-10% to start seeing a real return.

 

You nailed it, and for the foreseeable future there is no competition to speak of. Rome had the same issue.

 

Man that rocks! Except for the military part. The US dollar is unequivillay backed by the US military. Saddam to sell oil in Euros? >>> Invaded in 2 months. Libya to sell oil in Gold? Deposed in 1 month. Folks believe it or not, that US Federal Reserve note is backed by the US military, this is fact.

Wipe out debt? Sure they can wipe out 75% of it that is owed to retirees and the American people. I am not sure how they will react. Those on the dole not so much, but others?


Ah..you just nailed it. FDR lied to you didn't he? Well LBJ made it worse. I see no solution to the medical portion other than what is being implemented. If you cost to much to care for, then treatment denied. How can 2 present day workers pay for 15 retirees? They can not, and therein lies the issue. The politicians wasted the money gaining votes and quite frankly they did it right under our noses. I really wonder sometimes what a slabbed DPML Morgan will be worth in those times.

 

Do you have any facts to support paragraph 1 or 2? Because I talked to actual humanoids that do this somewhat for a living who live there. People make businesses out of importing American low denomination currency. If you have 50 american singles, and a single 50 dollar bill, the 50 individual singles are actually worth more. Kind of like how buying 10 x 1/10 fractional silver rounds are worth more than a one ounce bar. They both contain one ounce of silver, but one medium has more individual units. And the 50 Centavo piece and the 50 cent JFK Half dollar are not equal in value. They may be similar in size, but that would be it. I don't know what things cost there, but I know that if you went into a coffee shop there, and it costs 50 cents, they wouldn't accept one single 50 centavo coin as payment if they accepted a 50 cent JFK Half as payment. That 50 centavo piece is only worth like 2-3 pennies, you would need 20-25 of them. Its like if someone offered you a whole ounce of gold or a whole ounce of silver for free, you wouldnt take the silver because it weighed the same, the gold is worth more, obviously you would take the more valuable metal. Same concept. The American dollars are more valuable.

 

I was talking about debt, not inflation. It's stated clearly in my post.

 

Endeavor, let me re-examine this a moment;

"The problem will never be debt as long as we have the best defense. It will only become a problem when we stop having the best military."

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The best military in the world cannot solve the debt problem OR the inflation problem. The debt problem involves all the other nations of the world, who demand a higher interest rate to offset the risk of our exploding money supply. In the Treasury "bid" system, the discounted bids get smaller and smaller, finally Treasuries are yielding 5% - 7% - 10%, and we are unable to pay the interest, except by printing more money, which makes the problem worse at the next Treasury auction. Nothing the military can do about that -- who's the enemy? Who do we bomb?

Likewise, the best military in the world cannot solve the inflation problem; there's nobody to threaten, or blockade, or impose sanctions against. You might call upon the military to enforce price controls, but the world of commerce always finds a way around that failed policy. It's like whack-a-mole, inflation pops up in a hundred million transactions and circumstances. Who's the enemy? Who do we bomb?

Can you phrase your concern some other way? Then I'll comment again. All I can tell you, folks, it's a good thing I'm not in charge...

 

Getting too much political ( unsupported or otherwise). There are other sites that have been set up for political , religious, and world event discussions, and that is why they are not allowed here. get back to the original thesis/question
Other countries that use U.S. currency

Thanks

 

To those who travel around the world...please give examples of countries that will take US dollars..

Vendors and such..

 

here in Missouri i've made some silver/gold deals with some people that use euros for the larger denominations. i had a bit of a problem trying to spend a €200 note though... ( i eventually traded it for $260 at the bank, which is a good deal since i accepted it as $250). i also have a friend that bought a used car with a CAD $1000 note that he got at a flea market for $900 USD

from what i hear USD is used in a lot of countries that have crappy economies, and that uncirculated bills are worth as much as 20% more than worn ones in some places, and smaller denominations are worth more, for example, if you have $100 in ones or twos you can buy more than you can with a hundred or 2 fifties.

 

I don't know man. What do you mean what do I mean? I might not be as informed on yields and interest rates and all that good stuff, but I do know when someone owes you money it's pretty hard to take it from them when they're bigger, faster and stronger. I'm talking about when the (you know what) really hits the fan. Think about it.

 

It's so interesting how smaller denomination bills (or, it seems, a collection of smaller-denomination bills that make up a large total) have a higher fiat value(?) than the same amount in large-denomination notes. I guess it has to do with the actual demand of small notes for smaller-value transactions.

And I've heard about the uncirculated notes thing, too. I had a co-worker from Russia who lived there in the 90s and said the same thing: He said that back then he once had a heck of a time trying to spend an (almost) perfectly mint US five-dollar bill. The problem: Nobody would take it because it had a crease down the middle from being folded(!)

And what's with the TWO dollar bills I find outside of the USA? The only time I have EVER come across a Two is when I travel outside of the USA. Because they're unpopular in the U.S, they get unloaded overseas?

 

I have lived in Ukraine - Euros, Dollars, and Rubles are the preferred currency - the local currency has slid in value from 5 to the USA $ in 2008 to now 10 to the dollar - so currency has lost 50% of it's purchasing power. All capital purchases are priced in dollars or Euros - so cars, houses, apartments are all priced in dollars.

 

I had the same experience when I was an exchange student in Moscow in 1993. I took a bunch of small denomination bills with me but didn't realize that they needed to be crisp. I did manage to unload the worn ones when I took a trip to the Baltic republics, as they accepted bills regardless of condition.

There was so much inflation during that time that even though the pay phones still cost only 15 kopeks, I had to buy the coins for 15 rubles because they were hoarded and sold at a premium. Small change in general was a problem. I remember buying a Snickers bar for 450 rubles and paying with a 500 note and being given a stick of gum as change.

 

There is a heightened fear of counterfeits with worn notes. In the USA I have only ever encountered one counterfeit from circulation - in a bank withdrawal in 2008 I received a counterfeit $100( a bleached $5 that had been then overprinted) But in E. Europe it is a lot more common to encounter such things. And they usually have to be artificially aged to give them that "accepted" look. With Ukrainian notes, the smaller denominations are not subject to so much scrutiny, but spend 100 hryven on up and cashiers in supermarkets will hold it under a UV light to check it. Spend dollars anywhere and they are very closely examined - and they better not have hard folds, tears, writing etc.

 

this reminds me of one time my friend got a counterfeit 5-- but get this-- it was overprinted on a bleached TWENTY! mustve stupidest counterfeiter ever. he brought it to me thinking it was an error, he said "hey look! this five dollar bill has andrew jackson when you hold it up to the light! whats it worth?" at first i thought it was an error, until i saw a faint outline of the large green 20 that was on the back.

 

Maybe it was a counterfeit twenty.

 

Two-dollar bills got a bum rap in the US because of superstition. At race tracks, $2 was usually the minimum bet (paid with a $2 bill, perhaps), and of course most of those bets were losers. So $2 bills were "unlucky". Also, another name for "two" is "deuce", which is also another name for "the devil". So people would tear off a corner of a $2 bill to either ward off bad luck, or ward off the devil. If they got one in change, they might want to get rid of it as soon as possible, just in case. It all seems kind of silly now, but that's how it was explained to me back in the 1960s.