Over this weekend I did a lot of reading on the causes and possibilities of the US default happening between 2 and 8 August 2011, and it seemed that the more I read, the better the situation became. With the leaks of the latest news of a debt deal, it seems that the default isn’t a threat any longer (this is good to hear, and I will certainly keep my fingers crossed); but even if so, the dollar has been weakening (against virtually every major currency) all year long:
[Source: Oanda.com Historical Rates]
…and I once again wondered: maybe USD isn’t as stable of a currency to keep all your money in (e.g. regardless of being only 7-10 days apart, between my last trip to an exchange kiosk in St Petersburg, Russia, and today’s one, I lost $25+ on exchanging the same $1,000 into Russian Rubles).
I even tweeted about my worries (and, so far, received one reply):
We always talk about not keeping our eggs in one basket, but in so-saying refer to differentiating between verticals, marketing methods, and never about currencies… In many cases, however, affiliates, for example, can choose what currency to receive their payment in. Does anyone diversify here?
To find this out I’m putting together a poll, and inviting you to participate:
As always, the “Comments” section is also available, and I’d love to hear your thoughts on this one.