The US Dollar continues to devalue against Sterling and the Euro, a Pound now buys you $2.06 and a Euro is worth 72p. The news has been filled with coverage of the Dollar’s decline, from the BBC News Magazine, rapper Jay-Z waving Euro notes instead of greenbacks, supermodel Gisele Bundchen switching from Dollars to Euros and even the Taj Mahal now not accepting USD. It seems anti-Americans everywhere are rubbing their hands in glee, wishing doom on the World’s main currency.

But the day I take economic advice from a rapper, a catwalk model and a listed building is the day I have finally gone nuts.

The Dollar is sliding because the US has been borrowing very heavily and has lost its business confidence, for now. It will be back, it’s the United States, it always comes back! The next President will tighten the fiscal belt, let interest rates rise again and the USD will become stronger. And China won’t sell it’s reserves of Dollars, because if it did the Dollar would devalue and make Chinese goods more expensive, harming their exports.

The way they’ve been talking it’s like the US is doomed. I’m not an economist, but I know enough about the US to know it ain’t going anywhere! I’d rather have a fistful of dollars than Euros any-day, the Dollar being backed up by a solid, unified and determined political body – the USA – which has the strength to do what’s necessary (balance it’s spending, let rates rise, deregulate). What’s backing up the Euro? Eurozone members already break the spending rules, how would they cope in a crisis? Badly.

For now the Dollar may be in decline. Enjoy the cheap imports and invest in non-USD currencies and businesses. But don’t write off the Dollar or USA, they aren’t going anywhere.