Dollar vs. Euro: Does Jay-Z Know the Winner?

Submitted by theStockMasters... on Fri, 10/23/2009 - 17:08

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Financial News

Jay-Z 500 Euro FROM independent.ie Never has there ever been so much pressure on the U.S. Dollar to make a comeback and despite Jay-Z's 'Blue Magic' video being released in 2007, its a clear sign of the times. Sure the video pimps the Rolls but the wads of cash have been replaced by 500 Euro Notes. Yes, Cash Does Rule Everything Around us.

Pick your poison, everyone has a view on the dollar and how much it sucks:

Even the Fed Doesn't Want to Hold US Dollars Seeking Alpha (blog)

Dollar's Doom Puts a Face on New $1 Million Bill: David Reilly Bloomberg

Harper voices concerns about high dollar The Gazette (Montreal)

Weak dollar raises talk of alternative world currency USA Today

Jay-Z flips through 500 Euro notes 51 seconds into his video, no greenback visible, sorry.

We are or should be concerned about the declining dollar. Will the U.S. Dollar be replaced as the world’s reserve currency? Fact is it would take decades and significant changes in the global economic order for, say, the Chinese yuan or a basket of currencies to fill the dollar’s shoes.

Still, investors are on edge due to the prospect of runaway U.S. budget deficits -- the fiscal-year 2009 deficit is pegged at $1.4 trillion -- and the Fed’s expansion of its balance sheet to $2.2 trillion from less than $1 trillion.

Hang in there America, not to worry, we should be getting that $1 million bill printed any minute...