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Important currency conversion info...

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  • Important currency conversion info...

    Im fortunate to have an older bro who works in the city. The reason why this is cool is because he fills me in on the currency/interest rate type stuff because thats what he has trade on/predict.

    America is putting the squeeze on the Euro and its getting stronger and stronger. So if your converting sterling/dollar to euro then your ebay bargain isnt going to be so great anymore.

    If you want to be a bit shady and 'play' the game then accept paypal payments in Euro ONLY. Wait a few months and then convert them into dollars. The rise in rate will start to pay your paypal and ebay fees no problem.

    Im not planning on doing this btw! Its just an option.

    Basically it boils down to this. Check the currency rate people are quoting you if your buying from overseas. The Euro->$ rate is going to go up and up and up for sure. <- Changed URL

  • #2
    Fair point sermad, watch out for the V.A.T styles on EU ebay accounts now They&#39;ll be taxing us next &#33;


    • #3
      Yeah, I just got the eBay mail about VAT on European fees.

      You&#39;re right, it&#39;s going to help them monitor the unearned income thing isn&#39;t it? And they will indeed be taxing us next.

      My favourite author, Andrew Vachss, touched on this subject in his book Dead and Gone noting how the US government must be wetting themselves to get some way of taxing this &#39;grey market economy&#39;. I suppose that strictly speaking we should be paying tax on it, but how far do they want to extrapolate? I mean, if I wanted to sell something to Sermad dahn a cockney boozer (not that Sermad &#39;Caliph of the Cadgers&#39; ever actually pays for anything), would I have to declare any profit I made? Letter of the law and all that. They&#39;re coming after us, and car booters.

      Maybe time to get out before they want all the taxes back-paid too&#33;&#33;

      (Enemy of the State)
      Jet Boy stole my baby.


      • #4
        Just to clear up - Ebay are adding vat for the insertion fee.

        They should have actually done this from the start&#33; Kind of a boo boo on their part.

        You&#39;ll never get taxed on the final price of an item. But hey they&#39;ll probably create some law further down the line that lets them do so.

        Me cynical? naaaaaah.

        Caliph of the cadgers eh... <- Changed URL