Gisele gives the dollar the lamesauce

I was just reading about Brazilian supermodel Gisele insisting that she get paid in a currency other than the dollar. In the most recent contract for Pantene under P&G, she insisted in being paid in Euros. She isn’t the only one either. Investors have recently recommended taking a turn towards the non-dollar route, including Warren Buffet and George Soros.

This is a big shift since 1999 when the Euro debuted. I was only a burgeoning teenager, but I remember all the hoopla about how Europe was creating a unified currency, and how much of a disaster it was going to be. But that was likely all I could understand about it.

This was when the US still had a lot of cred, and was the standard vehicle of exchange in Forex markets. For example, If I wanted to convert from Qatari Riyals to Japanese Yen, I would convert from Riyals to Dollars, Dollars to Yen. This was primarily because of the the dollar’s stability.

But the dollar’s solid foundation is quickly deteriorating, specifically in the face of the Euro, and now even models know to watch their financial backs. Faith for recovery is is short supply, at least til the end of the year. The dollar today was at $1.46 to the Euro, and according to Bloomberg experts estimate that it could go up to as high as $1.5

So while Gisele continues to stay hot, the dollar, not so much.

P.S. Gisele has twin sister…huh, that’s cool.