Sunday, September 07, 2008

As The Dollar Becomes A Pariah Currency

Brazil, Argentina drop dollar for bilateral trade

"Brazil and Argentina are ready to stop using U.S. dollars to trade goods between them.
Brazil's president tells the Buenos Aires-based Clarin newspaper that exports and imports between the two nations will be bought and sold in local currency — reals and pesos."

Cuba was ahead of the pack

Iran dropped the dollar a year ago - "The dollar is an unreliable currency"

China, Japan, Kuwait, Syria, Libya, Russia, Malaysia, Brazil, Argentina, Ecuador, Switzerland, Norway and some other Scandinavian countries, some Balkan countries, and many East European currencies have either stopped using dollars or have severed pegs to it.

Aside from the recent upward burp the dollar's fate is sealed. Especially after the announcement this weekend that Fannie and Freddy will be nestled in the fed's loving embrace. People are just flat tired of losing money with the dollar.

"Euros Accepted" signs pop up in New York City


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