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  1. #1
    Atomic Punk
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    12.11.17 @ 04:37 PM
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    Default The worthless dollar? - U.S. Dollars No Longer Accepted at Indian Tourist Sites

    NEW DELHI 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.

    The country's tourism minister said, though, that the decision was only in part a reaction to the currency's plunging value.

    "Before the dollar lost its value, there was a demand to have (admission tickets) just in rupees," Tourism Minister Ambika Soni told the CNN-IBN news channel.

    Soni said that charging only rupees would not only be more practical, but would save money because "the dollar was weaker against the rupee."

    The Taj Mahal, India's famed white marble monument to love, which had charged tourists $15 or 750 rupees, has been refusing to accept dollars since November.

    The move makes visits pricier for American tourists, who now have to shell out nearly $20.

    And it's likely to get worse.

    "We expect a slight appreciation of the rupee to continue, although it won't be as dramatic as last year," said Agam Gupta, head of foreign exchange trading at Standard Chartered Bank in India.

    The dollar has fallen against most major currencies, and it has lost ground against the rupee due to an influx of foreign capital into India, said Gupta.

    Soni said she was not worried about the decision affecting tourism numbers as India provided more than just budget attractions.

    "I always say it's not numbers I am looking for or working for. I am working for tourists to have a complete experience," she said.
    "Watch what people are cynical about, and one can often discover what they lack. -- Gen. George S. Patton

  2. #2
    Atomic Punk ZeoBandit's Avatar
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    12.14.17 @ 05:57 AM
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    We don't want to spend our money there anyway.
    "What we are dealing with here, is a complete lack of respect for the law" - Jackie Gleason, Smokey and the Bandit

    www.geocaching.com - The site where you are the search engine.

  3. #3
    Atomic Punk chefcraig's Avatar
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    "The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore, all progress depends on the unreasonable man."
    George Bernard Shaw

  4. #4
    Atomic Punk bsbll4's Avatar
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    12.15.17 @ 12:23 PM
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    As long as it's still good at their 7-11s as well as paying my doctors bills.

    I think India must be full of 7-11s and medical practices.
    CNN may think my opinion matters, but you shouldn't.

  5. #5
    Sinner's Swing!
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    Why don't they just change the dollar price to reflect the exchange rate?
    Delusions of eloquence

  6. #6
    Atomic Punk chefcraig's Avatar
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    03.07.10 @ 06:18 AM
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    Quote Originally Posted by tap1966 View Post
    Why don't they just change the dollar price to reflect the exchange rate?
    Because the actual "currency" is merely a symbol for the amount of gold in the Federal Reserve. It's value can not be arbitrarily changed. Much like the Feds can't simply "print more money" during lean times.
    "The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore, all progress depends on the unreasonable man."
    George Bernard Shaw

  7. #7
    Atomic Punk WinterlessIceness's Avatar
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    07.05.17 @ 10:26 AM
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    Quote Originally Posted by ZeoHalen View Post
    We don't want to spend our money there anyway.
    Yep, who gives a shit about India. I'm sure I don't

  8. #8
    Atomic Punk bsbll4's Avatar
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    12.15.17 @ 12:23 PM
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    I thought we ditched the gold standard 30 years ago
    CNN may think my opinion matters, but you shouldn't.

  9. #9
    Atomic Punk
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    07.24.11 @ 04:36 PM
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    you are correct. The dollar is now backed by faith and the government's assurance that it's worth whatever it happens to be worth at any given moment.

  10. #10
    Damage your reputation seenbad's Avatar
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    12.15.17 @ 10:48 AM
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    It was further back than that. We got rid of the gold standard back in like the 1930s. The feds can and do just print more money now.
    sheepa latta peepah dabba looka foh a moopy

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  11. #11
    Atomic Punk bsbll4's Avatar
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    I think tap was asking why they don't just charge $8 instead of 5 or whatever the exchange rate is now. It sounds like they just wanted to stop the hassle of accepting dollars for awhile, it really didn't have anything to do with the exchange rate.
    CNN may think my opinion matters, but you shouldn't.

  12. #12
    Atomic Punk chefcraig's Avatar
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    Quote Originally Posted by seenbad View Post
    It was further back than that. We got rid of the gold standard back in like the 1930s. The feds can and do just print more money now.
    Nah, I just watched "Goldfinger" the other night. The guy seemed to know what he was talking about.

    "The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore, all progress depends on the unreasonable man."
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  13. #13
    Atomic Punk bsbll4's Avatar
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    After doing some reading, we ditched the gold standard in 1933, but the international community didn't fully convert to a fiat monetary system until 1971. I guess that's where I got the 30 years from.

    "Do you expect me to talk, Goldfinger?"

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    CNN may think my opinion matters, but you shouldn't.

  14. #14
    Atomic Punk
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    Quote Originally Posted by seenbad View Post
    It was further back than that. We got rid of the gold standard back in like the 1930s. The feds can and do just print more money now.
    The US government did away with the gold standard in 1933 to be exact...silver in 1873.

    Now the value of a dollar is anyone's guess. There are many artificial and arbitrary factors contributing to the value of the dollar including people's moods and outlook. The fed controls interest rates which has a wide reaching influence on the cost of goods, banks destroy millions of dollars a day, mostly used and damaged bills but all to control the amount of money in circulation.

    If our society continues to last, we'll be on some sort of "points" or "credits" system instead of actual money. that's basically what it is now....money, no longer being backed by any concrete standard, is of arbitrary worth. A dollar is worth what we are told it's worth and if tomorrow it's worth less, well it is. If it's worth more, then it is.

  15. #15
    Atomic Punk bsbll4's Avatar
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    I can wiki faster than you
    CNN may think my opinion matters, but you shouldn't.

 

 

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