Gisele Bundchen, world’s richest model, wants to maintain her position and regarding this she has started taking her payments in currencies other than U.S.Dollars.
Till date Bundchen remains the highest paid model and her twin sister and manager, Patricia Bundchen, said in a telephone interview that she was not sure of what will happen to dollars so the new contracts of Gisele will be in euros.
Also according to Bundchen’s agent, Anne Nelson, when Gisele works in Europe she gets her payment in euros, in U.S. it is dollars, in Brazil it is in reais.
U.S.Dollar has fallen up to 34% since 2001, but the analysts say that it may come down further because home sales have fallen down and interest rates are cut by Federal Reserve.
The Chief Investment Officer of Pacific Investment Management suggests the investors to buy an investment in non-dollar currency. Last week dollar lost 2.8 % to 93.47 Canadian Cents and 1.8% to $2.09 per English pound.
Brazil’s biggest weekly magazine, Veja says that in August when Budchen had signed a contract for Pantene hair products for Cincinnati-based Procter & gamble, she demanded her payment to be done in euros. Buffet, chairman of Omaha, Nebraska-based Berkshire Hathaway Inc., who was stated as the third richest man in the world, stated that they now buy shares in those company where they can earn money in other currencies.
Jim Rogers, who was partner of George Soros, is going to sell his house and all his properties in U.S. dollars to buy China’s yuan. According to him, moving to Britain in 1807 and moving to New York in 1907 is the same as moving to Asia in2007.
The droppings of U.S. dollars have made American goods cheaper in foreign markets. Money is getting shifted from U.S. to other parts of the world, especially Asia, for better returns. Head of Currency research at New York-based Morgan Stanley, Stephen Jen, who is based in London said,
‘We’re all thinking about diversifying out of dollar. It is a very logical thing’.
Via:Bloomberg
