How to make money online - in a US recession [Archive]

Schwabe

Thu 27th Mar 2008, 17:15

Let's not avoid the obvious - the US economy is tanking and some forecasters are predicting the dollar to hit rock bottom in as early as a year from now.

With the US dollar as the "standard" internet currency, it seems hard at first to think about how to transition to other currencies. For an american citizen, how can we generate cashflow in different currencies?

Fergal

Thu 27th Mar 2008, 19:13

Good question, I've heard about a famous model refusing to sign contracts with Dollar payments, she was concerned that the Dollar was going to fall further.

I live and operate in a Euro economy (Ireland) but all my online transactions are in Dollars. This is fine at the moment because I'm purchasing more than I'm selling, hopefully the tables will be turned when the Dollar increases in value. Perhaps now is a good time to buy online?

I'm not sure how Internet sellers can price their international products services in any other currency other than Dollars. Personally I will only buy in Dollars. I've had some people quote prices to me in GBP and I've always gone back to them looking for a quote in Dollars. So much online trade is done in Dollars, that even though I live in the Euro zone, I've a better understanding of what web services are worth in Dollars than I do in Euro. Obviously it is not difficult to make a conversion but my first instinct is to price and value online transactions in terms of Dollars.