The dollar’s day may well be over, at least as the sole refuge in hard economic times. As discussed in this article in the Financial Times, the dollar has been the currency of choice when times get tough for over fifty years, due in large part to the size of the US market and the strength of the financial sector. Now that financial sector is weak, and the strong Euro is quickly supplanting the dollar for major international transactions (as well as Giselle Bündchen photo shoots).

Now, the Euro has been increasingly served as an alternate currency in international transactions over the past few years, but the FT posits that the current economic troubles will be enough to earn it a pole position in the no-longer-new century. What do you think?

Post from: EveryJoe

The dollar has had its day