Gisele Bundchen makes more money than any other supermodel, and she wants that money in any currency other than US dollars.
Gisele has recently signed contracts with Italian label Dolce & Gabbana and US hair products manufacturer Pantene. In both cases she insisted that payment not be in the failing US currency.
Bundchen is from Brazil, a nation which has experienced currency calamities, which might explain her being alert to the dangers of holding wealth in an unstable form. Wealthy Americans are also increasingly aware of this danger, which is one of the reasons we are seeing a flood of investment in gold; Australian mining companies and other Australian stocks backed by real assets. China, Japan and Gulf oil states with large $US holdings are joining the flight from the dollar.
The flow of depreciating $US into Australia should raise a question for the Treasurer and the Reserve Bank of Australia: if US dollars are not good enough for a supermodel, how come they are good enough for us? Peter Costello may never look as good as Gisele, but he could at least try to be as smart.
Source: http://www.bloomberg.com/apps/news?pid=20601087&sid=aCs.keWwNdiY&refer=home
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December 3rd, 2007 at 10:32 am
Get the Lady Godiva reference?
Godiva (Lady)
Patroness of Coventry. In 1040, Leofric, Earl of Mercia and Lord of Coventry, imposed certain exactions on his tenants, which his lady besought him to remove. To escape her importunity, he said he would do so if she would ride naked through the town. Lady Godiva took him at his word
E. Cobham Brewer 1810–1897. Dictionary of Phrase and Fable. 1898