Dollar taking a hit from another direction as well

Post #296,239 by altmann 11/19/07 2:08:15 AM Reply	Dollar taking a hit from another direction as well Pay attention as you watch the catchy new music video from the mega-star rapster Jay-Z, "Blue Magic", and see if you can't spot the product placement. It is not a fancy car that he is endorsing \ufffd although both his rides, a Rolls- Royce and soft-top Bentley, are plenty spiffy \ufffd but rather a currency \ufffd and it is not the dollar. Like so many in the hip-hop genre, the song is a celebration of ostentatious wealth. But capturing the attention of commentators in this clip, shot in the glimmering, neon-lit canyons of New York City, are the repeated glimpses of flickering wads of \ufffd500 notes. Jay-Z has thus performed a currency defection: the dollar is not just down, it is out. The euro is the new bling. -- [link\|http://news.independent.co.uk/world/americas/article3169653.ece\|http://news.independ...rticle3169653.ece] -- Chris Altmann
Post #296,242 by Andrew Grygus 11/19/07 3:25:02 AM Reply	The reason Euro is bling . . . . . is that the U.S. government made any denomination beyond $100 scarce and hard to get specifically to make drug transactions less convenient. Drug traffickers consequently turned to the Euro where 500 and 1000 denominations and even higher are easily available. This happened years ago. So this isn't a "value of the dollar" thing, it's a drug thing. Where do you think that hip-hop "ostentatious wealth" comes from? [link\|http://www.aaxnet.com\|AAx]
Post #296,245 by imqwerky 11/19/07 4:58:33 AM Reply	This is true. I read somewhere (prolly here) that the anti-counterfeiting measures being taken have hurt the dollar more than helped because of the drug trade. The euro became the currency of choice and now we are seeing the fallout. Pretty damned ironic. Pretty damned staggering how much illegal drugs plays a role in a nation's economy. Smile, Amy

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