No Dollars Accepted by Project Andina
I can tell you that more and more businesses here in Peru will not accept the dollar anymore for payment of goods and services. Hence the picture above I took at a shoe store in Lima, and led me to write this in January, 2013. I have updated and revised it somewhat. This article is chocked full of links as references. (All graphics in this post were pulled from the internet.)
There are two reasons why businesses don’t want to take dollars as payment. One is that much of the counterfeit currency is made here in Peru, not to mention the hassle of having to exchange it. The second reason is because the faith in the dollar around the world is waning…
Above is an excerpt from an over 5,000 word read on my website...Article
Wow, this is a very interesting! Thank you for an insight into how other parts of the world are changing their view of the "almighty" US dollar.
Thanks for reading it, not many people do. It's not entertainment. Luckily cryptocurrencies are taking off, giving people another means of diversification out of paper fiat currency. Note though that U.S. coins are real money, because they are monetized by the Treasury and not the private Federal Reserve. (Although silver has been removed from the coins).
Good post.
Followed.
Thank you, and followed you back.