With Bloomberg reporting today that Gisele Bundchen, the world’s highest-paid supermodel, has refused to accept payment in U.S. dollars, the dollar’s downtrend is receiving more negative publicity.
Giselle joins the ranks of billionaire investors like Warren Buffett, Jim Rogers and Bill Gross who are pessimistic on the dollar’s future. The 27 year old Brazilian model has made $33 million in income so far this year.
According to the Treasury Department’s data, U.S. investors bought $198 billion in foreign securities this year through August, 72 percent more than in the same period last year.
Sovereign wealth funds run by the largest exporters and oil producers, including China, Singapore and Qatar are also liquidating US dollar positions. Its projected that these funds may grow from a current $2.5 trillion to $17.5 trillion by 2017 and shift more than $500 billion out of the dollar over the next 3 years.
If I were you, I’d try to sell ahead of them. There’s a saying in the market. If you’re going to panic, make sure you panic before everyone else does!