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QUESTION:
Hello Martin,
A year ago or so you said ‘ I highly recommend Europeans to hoard
Dollars instead of Euros.
I suppose that hasn’t changed. Do you see in the meanwhile a risk
for hoarding Dollars here in Europe ?
Are we even facing the Dollar Cash to be cancelled soon ?
Thank you very much for an answer.
Best regards
JB / Germany
ANSWER: The dollar is used globally. When they changed the $100 bill, they took advertisements on international flights to reassure people the old bills were still valid. US currency has never been cancelled so this is a cultural issue. It would be extremely difficult to cancel the dollar because it is the reserve currency. Now with Trump in town, we will see this potential to cancel the currency even less likely in the United States at least until 2018.
So my recommendation has not changed. Anyone hoarding cash should do so in dollars. To be safe, $20 bills would probably be best.
https://www.armstrongeconomics.com/markets-by-sector/foreign-exchange/usd/euro-v-dollar-for-hoarding/
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