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June 27, 2006



Why not have competitive currencies? Let people write contracts in whatever currency they agree to. If that meant we all used Swiss Francs, so be it.



You can already write contracts in any currency you like and the contracts will be enforced in the English courts. What you can't do is go into a shop (or a bus) in London and insist on paying in euros or dollars.

In theory I'm all in favour of competing currencies being legal tender but I'm damned if I can work out the practicalities of such a system. My local newsagent would go ballistic if I offered him some baht for a packet of ciggies.

Laurent GUERBY

Umbongo, if you have an international credit card you can already choose to pay using whatever currency you want (the one of your account).

Of course banking conglomerate are private entities, so it's a perfect world full of competition and you pay the marginal cost of the transaction.



Thanks for the enlightenment, chaps.

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