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Pretty amazing, oil hit €63/barrel today. What’s that? You don’t know what that € symbol is? It’s the symbol for the EURO which represents the currency of greater Europe. Most oil rich countries have decided that they prefer to get paid in € rather than $ so in the future, you’ll likely see the cost of oil reported in € rather than $. As I write this, one € = $1.43 so €63 = $90

On a trip to Cancun a few years ago, I saw signs at tourist shops all over the place that read, “We take Euros” and I was surprised that Mexico would accept currency from a union 2000+ miles away but they took them way back then. It was a big hint to me that something was off with the US dollar if people in Mexico were eager to take currency from a union so far away.

Flash forward 3 years later and the US Dollar has lost 40% value against the Euro. Perhaps the business owners in Mexico aren’t so naive after all. It could explain why the world’s richest man is currently a Mexican.

It could also explain the strange anomaly of a chain of pizzerias in the southwest accepting pesos as payment for their products and seeing sales jump 35 pct but who knows….

We live in a stranger and stranger world. A world where a person from France can fly down to Mexico and pay for his goods with Euros, get Pesos in return as change, have a stop over in Dallas on his way back, order a pizza from his hotel room and pay for it with Pesos he got in Mexico and perhaps get dollars as change back.

This is all great, except when I do it, I lose about 20% in conversions. When will we have global dollars? Perhaps they’ll be called “Terras” or “Terra-dollars” or maybe “Gaias” :)