.00661 EUROS FOR YOUR THOUGHTS?

The American Dollar, its days probably numbered in its role as the de facto world reserve currency under the Bretton Woods II arrangement, diving belled to a new low against the Euro Wednesday. It is trading around .661 against the stronger Euro.

The dollar is at about 1.028 against the Canadian dollar.

And while the current occupant of the White House claimed today in his press conference that he supports a strong dollar policy, the currency markets don’t believe him. Where would you put your money? Where is the Author putting his money?

WHERE ARE NEW YORK BUSINESSES PUTTING THEIR MONEY?

A Yahoo Finance article from February 6th states:

[S]ome shops in New York City have begun accepting euros and other foreign currency as payment for merchandise.

"We had decided that money is money and we'll take it and just do the exchange whenever we can with our bank," Robert Chu, owner of East Village Wines, told Reuters television.

The increasingly weak U.S. dollar, once considered the king among currencies, has brought waves of European tourists to New York with money to burn and looking to take advantage of hugely favorable exchange rates.

The article further notes that other US communities close to international borders also accept international currency:

While shops in many U.S. towns on the Canadian border have long accepted Canadian currency and some stores on the Texas-Mexico border take pesos, the acceptance of foreign money in Manhattan was unheard of until recently.

And the Author has noticed that a convenience store in Albuquerque accepts pesos.

WE BET OUR MONEY ON THE MARKETS IN THE DESERT OF THE REAL!