From: frantz@netcom.com (Bill Frantz)
Date: Sun, 24 Mar 1996 18:18:48 +0800
To: Bill Stewart <gjeffers@ns.htc.net>
Subject: Re: (X:x)e$ 's other use
Message-ID: <199603241007.CAA05877@netcom5.netcom.com>
MIME-Version: 1.0
Content-Type: text/plain


At  1:31 PM 3/23/96 -0800, Bill Stewart wrote:
>Method 3 you'll recognize.  There'd be nothing wrong with the Federal 
>Reserve if they only used methods 1 and 2; individual consumers can
>decide whether to trust them not to print a lot more zeros than they should.
>And they don't have a monopoly on currency - there are some kinds of
>taxes that apply to some private currencies, but you can go into the
>average bank today, ask them to write a cashier's check to someone
>(and probably still to "bearer"), pay them, and they'll be happy to do it
>for only a small commission, and American Express will do it as well.
>And people will take their paper, though in the case of traveller's checks
>it's sometimes a hassle to accept on an occasional basis.

My experience in China in 1993 was that US Federal Reserve Notes were easy
to use and American Express Traveler's checks were not.  After hearing that
the dollar isn't worth anything, it was refreshing to go to a country where
they are in high demand.  I recommend carrying good old fashioned USA
dollars when going to communist countries.

Bill


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