No Dollars . Pay Me Euros, or anything else

Will ARod and Boras demand to be paid in gold?

(Bloomberg) -- Gisele Bundchen wants to remain the world's richest model and is insisting that she be paid in almost any currency but the U.S. dollar.

Like billionaire investors Warren Buffett and Bill Gross, the Brazilian supermodel, who Forbes magazine says earns more than anyone in her industry, is at the top of a growing list of rich people who have concluded that the currency can only depreciate because Americans led by President George W. Bush are living beyond their means.

Even after the dollar lost 34 percent since 2001, the biggest investors and most accurate forecasters say it will weaken further as home sales fall and the Federal Reserve cuts interest rates. The dollar plummeted to its lowest ever last week against the euro, Canadian dollar, Chinese yuan and the cheapest in 26 years against the British pound.

``We've told all of our clients that if you only had one idea, one investment, it would be to buy an investment in a non- dollar currency,'' said Gross, the chief investment officer of Pacific Investment Management Co. in Newport Beach, California, and manager of the world's biggest bond fund. ``That should be on top of the list,'' said Gross, whose firm is a unit of Munich- based insurer Allianz SE. ...

Buffett, whom Forbes in April ranked as the world's third- richest person behind Bill Gates and Carlos Slim, told reporters in South Korea last month that he is bearish on the U.S. currency.

``We still are negative on the dollar relative to most major currencies, so we bought stocks in companies that earn their money in other currencies,'' Buffett said Oct. 25. Buffett, 77, is chairman of Omaha, Nebraska-based Berkshire Hathaway Inc.

Jim Rogers, a former partner of investor George Soros, said last month he's selling his house and all his possessions in the U.S. currency to buy China's yuan.

``The dollar is collapsing,'' Rogers said last week in an interview. ``I'm moving to Asia because moving to Asia now is like moving to New York in 1907 or London in 1807. It's the wave of the future.''

http://www.bloomberg.com/apps/news?pid=20601087&sid=aCs.keWwNdiY&refer=home

 

Perhaps this thread should be titled: One MORE reason to hate Tom Brady.

 

Never thought I'd live to see the day people refused to accept dollars. Can you believe this shit?

 

Dollars are still worth much more than pesos. 100 dollars is worth over 1,000 pesos even today. Will a mexican dollar ever be worth anything anywhere but Mexico?

 

Only because since NAFTA the peso's become inextricably tied to the dollar. Those two live and die together now.

Unfortunately the rest of the world's not so tied to our hip. The euro was worth around 80 cents when Bush was elected, now its close to $1.50 and still climbing fast. The loonie was a bit over 60 cents, now its easily passed us too. I'm not necessarily saying Bush is to blame, but those who wanna make that argument sure do have some compelling before and after numbers to cite as evidence.

 

How concerned should I be about the falling strength of the dollar?

I'm hoping to make a five-week trip to China in the spring, and every day I look to see how much more it's going to cost me.

 

If you think you'll want some kind of electronics made in Asian, now's the time to get it, before a DVD player is $400 and a 42 inch TV is $10,000.00

 

I wonder if I could offer my company to take a couple grand off my yearly pay... if they would pay me in euros.

 

Not to add to your pain or anything but it was fun today to pay for shoes via Paypal and see the exchange rate go the other way for a change.

 

"For a change"?

What do you mean?

 

Because it's been decades since our dollar has been at least on par with yours. How is that not obvious?