Even Supermodels Don’t Want To Get Paid in US Dollars!
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!
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November 6th, 2007 at 9:48 am
Yeah I think I heard the same on FOX Business News, she is one smart cookie
November 6th, 2007 at 5:22 pm
Wow that’s pretty smart of her. I wonder what she accepted payment in… Reais? I doubt anyone would pay her in her native currency but who knows. Would be interesting to find out.
November 6th, 2007 at 6:04 pm
I think she said anything but US Dollars! although Euros wouldn’t be a bad choice.
November 11th, 2007 at 9:31 am
[...] Off Dividends updates us that the US dollar is so bad that super models are starting to not accept it as [...]
November 12th, 2007 at 8:37 am
Is she negotiating the rate based on different currencies? I don’t see why she wouldn’t just move the money upon payment. Fees would be nominal I would think on that much money. If I get paid in euros or dollars right now, they are both worth roughly the same amount in euros right now. If she is getting more money this way all the more power to her.
November 12th, 2007 at 1:55 pm
[...] OFF DIVIDENDS presents Even Supermodels Don?t Want To Get Paid in US Dollars! posted at LIVING OFF DIVIDENDS, saying, “You know its bad when even supermodels don’t [...]
November 12th, 2007 at 7:18 pm
it typically costs around 5% to convert currrency.
on 33 million/year thats about $1.5 million. I can understand why she wouldn’t want to waste that sort of money.
November 27th, 2007 at 7:49 am
that is big, i thought banks were more global now, but then i only deal with chump change compared to 33 mil…