DON'T LOOK NOW BUT PEOPLE ARE STARTING TO PREFER THE EURO OVER THE DOLLAR...
MANY EUROPEAN CURRENCIES ARE PEGGED TO THE EURO NOW...NOT THE DOLLAR...
AS A RESULT...THE PHYSICAL DOLLAR IS NO LONGER "FAVORED" BY MERCHANTS IN MANY FOREIGN COUNTRIES....
THE NOTION THAT EVERYONE WILL TAKE THE DOLLAR...IS BEING CHALLENGED GREATLY...
MANY HOTEL ROOMS ARE NOW PRICED IN EUROS NOT DOLLARS...
ANYONE WITH THE NEED OR DESIRE TO TRAVEL...HAD BEST CONSIDER HAVING A WALLET FULL OF EUROS, NOT DOLLARS....JUST IN CASE...
IF THE RUSSIANS AND OTHERS IN NON-EURO MARKETS.... START CASHING IN THEIR "SOCK DRAWERS"...SWITCHING OUT OF THE DOLLAR...INTO EUROS...THE DECLINE OF THE DOLLAR WILL ACCELERATE...
NOTE WELL : THE US $100 BILL WAS THE DEFACTO UNDERGROUND COIN OF THE REALM IN RUSSIA FOR DECADES...AND IT STILL IS...BUT JUST BEARLY.
REMEMBER, OUTSIDE OF THE US...THE MAN ON THE STREET "SPECULATES" IN CURRENCIES ALL THE TIME... BECAUSE SIDEWALK LEVEL "CURRENCY EXCHANGES" ARE AS COMMON AS BEER KIOSKS IN EVERY EX-SOVIET CITY...
MANY RUSSIANS SIMPLY DON'T TRUST THE RUBLE..OR THEIR BANKS...HENCE THEIR SOCK DRAWERS ARE FULL OF DOLLARS... AND SOME OF THEM HAVE QUITE A BIT OF MONEY "SOCKED" AWAY... WHEN WILL THESE FOLKS FLIP TO THE EURO...BECAUSE IT WILL HAPPEN;
OF COURSE IF YOU DON'T WANT TO HOARD PHYSICAL EUROS...FOR AMERICANS THE GOLD MARKET WILL PROVIDE A PROXY HEDGE AGAINST THE DOLLAR'S DECLINE...
I NEVER CASH OUT OF MY EUROS AFTER A TRIP... USUALLY I WISH I HAD BOUGHT MORE...
AND ODDLY SOME OF THOSE "FUNNY" CURRENCIES IN EASTERN EUROPE ARE ACTUALLY HOLDING UP BETTER BECAUSE THEIR EURO PEG HOLDING...
