Thursday, March 13, 2008

I think the Dollar Has Hit Bottom

You always get these kinds of stories when something has hit bottom and is on the way back up.
In Manhattan's Bowery district, Billy LeRoy, the owner of Billy's Antiques
& Props, prefers payment in euros so he can stockpile the currency for his
annual antique buying trip to Paris."Whip out dollars at the French flea
market now, and they'll shoo you away," he said at his store near apartment
buildings where Europeans are snapping up units because they've become dirt
cheap. "Before it was like the second coming of Christ, but now they don't want
it or if they do take dollars, they're going to take their pound of flesh."

What about just converting your dollars into Euros and buying the antiques in the currency that the French use? If he is so afraid of currency risk then he should hedge his currency like any other businessman who takes "trips to Paris flea markets" has to do. Instead he just wants his customers to foot the bill and take the risks for him.

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