Forget Euros or Gold, if you want a REAL hedge against the falling dollar, buy some dolphin chiclets. The Wall Street Journal Reports:
Shaped like miniature ivory jalapeños, the teeth of spinner dolphins have facilitated commerce in parts of the Solomon Islands for centuries. This traditional currency is gaining in prominence now after years of ethnic strife that have undermined the country’s economy and rekindled attachment to ancient customs.
Over the past year, one spinner tooth has soared in price to about two Solomon Islands dollars (26 U.S. cents), from as little as 50 Solomon Islands cents.
Even the Fed Heads are buying:
Even Rick Houenipwela, the governor of the Central Bank of the Solomon Islands, says he is an investor in teeth, having purchased a “huge amount” a few years ago. “Dolphin teeth are like gold,” Mr. Houenipwela says. “You keep them as a store of wealth — just as if you’d put money in a bank.”
Looks like I need to make a trip back to Kona for some more quality time with my good friend Kayo.
Source:
Shrinking Dollar Meets Its Match In Dolphin Teeth
Yaroslav Trofimov
The Wall Street Journal