CNBC's Jim Cramer said the U.S. is "a laughing stock around the world, maybe worse than Italy in some ways when I look at benchmarks. We have obviously lost the faith of a lot of countries."
"If there was a way to be able to take your money out of this country and put it in Germany ... if I were Brazil, if I were Japan I would do it immediately," he said on "Squawk Box."
He went on to say that the slumping dollar index, which measures the greenback's value against a basket of currencies, reflects the current sentiment of investors around the world. They are saying "lets go into gold, lets get out this dollar ... lets not be in bonds in the United States, we'd rather be in any other currency because they basically have lost control," he said.
