BajaNomad

Peso teases 15:1 rate today...

Woooosh - 2-20-2009 at 12:16 PM

I'm showing a rate of 15.03 as I type.

The Mexican Gov't had been propping it up with help from the USA. Given the harsh conditions the past few days on Wall Street- it may fall some more before it gets attention again. There are too many things to worry about before the pesos demise this week I think.

The big banks are in huge trouble today. They are worth less than the TARP bail out money just given to them. Talk about bottomless money pits...

[Edited on 2-20-2009 by Woooosh]

Dave - 2-20-2009 at 02:39 PM

Quote:
Originally posted by Woooosh
I'm showing a rate of 15.03 as I type.

The Mexican Gov't had been propping it up with help from the USA. Given the harsh conditions the past few days on Wall Street- it may fall some more before it gets attention again. There are too many things to worry about before the pesos demise this week I think.

The big banks are in huge trouble today. They are worth less than the TARP bail out money just given to them. Talk about bottomless money pits...

[Edited on 2-20-2009 by Woooosh]


If nothing dramatic happens then I predict 16.5 in three months. That's my target to buy. ;D

David K - 2-20-2009 at 03:16 PM

Gold hit $1,000: ounce... Maybe time for Baja mines to open up?

Diver - 2-20-2009 at 04:57 PM

Quote:
Originally posted by David K
Gold hit $1,000: ounce... Maybe time for Baja mines to open up?


Yes David; you should go to Baja and dig a hole and ..... :lol:

Just kidding !! :lol:

David K - 2-20-2009 at 05:04 PM

You know Diver... I would love to live off the land, like Herman Hill has for so long... I love the Baja desert... I love geology... and it would be great!

I do have a gold pan... just need water!:rolleyes:

David K - 2-20-2009 at 05:07 PM

Yah, that's the ticket!

Hermans Book-r.JPG - 31kB

Bajahowodd - 2-20-2009 at 05:11 PM

The U.S. government should just announce nationalization of the banks and get over with it. What they have now is the same, but with no control or oversight. They should just take over, kick out the idiots, and when some level of calm is restored, put the banks up for sale to the private sector.

Woooosh - 2-20-2009 at 11:34 PM

Quote:
Originally posted by Bajahowodd
The U.S. government should just announce nationalization of the banks and get over with it. What they have now is the same, but with no control or oversight. They should just take over, kick out the idiots, and when some level of calm is restored, put the banks up for sale to the private sector.


Isn't that the same "Nowegian Model" Obama and many Republicans support? Take them over, clean them out, sell them off?

msteve1014 - 2-21-2009 at 06:17 AM

after they "kick out the idiots", they would just replace them with more of the same.

Phil S - 2-21-2009 at 07:36 AM

Don't judge all banks as being "#%^$#". I've been doing some research on the "smaller banks", and find it interesting that those who are still 'liquid', stayed away from investing in the so called "bundled mortgages". Scares me to think that MY local bank could end up being run by the "gov't"??????!!!!!!!!!! Only difference is they wouldn't be subject to stockholder input. Just Obama input!!!!! And if that happens, next thing will be "time to turn in your guns folks" says Poloski & Obama. And we are getting close to that happening!!!! They won't find MY guns. Oh my gosh. I forgot that yesterday I was to go down and buy more bullets!!!!!!!!! And if you are thinking of acquiring a or some guns, you've got to buy then from private parties, otherwise you have to register your purchase. I'm not sure if that applies to rifles or AK47's or not?????? suddenly owning an AK47 or equivelant doesn't sound so bad as it did a year ago.

[Edited on 2-21-2009 by Phil S]

Hook - 2-21-2009 at 08:17 AM

Quote:
Originally posted by Dave
Quote:
Originally posted by Woooosh
I'm showing a rate of 15.03 as I type.

The Mexican Gov't had been propping it up with help from the USA. Given the harsh conditions the past few days on Wall Street- it may fall some more before it gets attention again. There are too many things to worry about before the pesos demise this week I think.

The big banks are in huge trouble today. They are worth less than the TARP bail out money just given to them. Talk about bottomless money pits...

[Edited on 2-20-2009 by Woooosh]


If nothing dramatic happens then I predict 16.5 in three months. That's my target to buy. ;D


Assuming this is a speculative move on your part, what would lead you to believe that it will trend downward at that point? Or is this the uppermost part of some trading range that you feel is probable?

Bajaboy - 2-21-2009 at 02:19 PM

Quote:
Originally posted by Phil S
Don't judge all banks as being "#%^$#". I've been doing some research on the "smaller banks", and find it interesting that those who are still 'liquid', stayed away from investing in the so called "bundled mortgages". Scares me to think that MY local bank could end up being run by the "gov't"??????!!!!!!!!!! Only difference is they wouldn't be subject to stockholder input. Just Obama input!!!!! And if that happens, next thing will be "time to turn in your guns folks" says Poloski & Obama. And we are getting close to that happening!!!! They won't find MY guns. Oh my gosh. I forgot that yesterday I was to go down and buy more bullets!!!!!!!!! And if you are thinking of acquiring a or some guns, you've got to buy then from private parties, otherwise you have to register your purchase. I'm not sure if that applies to rifles or AK47's or not?????? suddenly owning an AK47 or equivelant doesn't sound so bad as it did a year ago.

[Edited on 2-21-2009 by Phil S]


If your bank gets taken over by the gov't then I assume the stockholder input was of no use in the first place. I'm sure all they were concerned with was a short-term gain....i.e. a quick buck. I applaud those banks that stuck to their principles and looked for a long-term gain.

Bajahowodd - 2-21-2009 at 02:36 PM

Didn't mean to imply all banks. But there are some, and they are very big, and the truth is that after all that cash infusion, they seem to be worse off than before it. Citi and BofA just to name two. As long as the execs at these bank keep trying to protect their own butts, as well as the shareholders, it's going to be a continued situation of begging for money from the feds. Sure, they may get replaced by more idiots, but to restore confidence in the banking system, and to make credit available, I think nationalization is the way to go.

TonyC - 2-21-2009 at 05:21 PM

Like Pemex.

Bajahowodd - 2-21-2009 at 05:24 PM

Nowhere close. Nationalization of the banks would be temporary. Pemex appears to be forever. Hopefully not.

djh - 2-21-2009 at 10:23 PM

Quote:
Originally posted by Bajahowodd
As long as the execs at these bank keep trying to protect their own butts, as well as the shareholders, it's going to be a continued situation of begging for money from the feds. Sure, they may get replaced by more idiots, but to restore confidence in the banking system, and to make credit available, I think nationalization is the way to go.


Well... don't you think our politicians have already "nationalized" or "socialized" the debt that these corporate criminals (who donate so much to these same politicians) have racked up... They certainly never socialized any of their prior or future profits....

And... by design, the first responsability of corporate leadership is to "protect the shareholders" (most importantly THEMSELVES!)... Which is one of the systemic problems with corporations... US Corps. have all of the rights of an individual, yet none of the responsabilities. Until this systemic problem is corrected, this type of BS will continue over and over.

We live in a Corporate Political System... Many (perhaps most?) of our US politicians are just as corrupt as anywhere else... including MX.... The main difference in the US Encumbancy Protection System... supported by these same corporations.... is that they have perfected slapping a bible and a flag on the BS to thwart mass scrutiny.

Geeze... I certainly "went off" venting.... I don't usually do this... (And I stay away from the political and off topic forum stuff....)

Sorry...
djh

Paula - 2-21-2009 at 10:40 PM

That was a totally acceptable rant, David. Very refreshing!

Bajahowodd - 2-22-2009 at 01:07 AM

Hope you feel better. I do. That said, doing something has to better than doing nothing.

yeah... better now !

djh - 2-22-2009 at 08:01 PM

Thanks, Paula and Bajahowodd ;)

I guess that WAS a rant!!! Don't know if I've ever cut loose like that before...!

Now... to get ready for work, eh? I have a LOT of earning to do so that I can pay for these fatcats' bailouts :o

Bajahowodd - 2-22-2009 at 11:55 PM

Weenie issues again. Bang:fire:

MY Bank ?

djh - 2-23-2009 at 08:34 AM

I've been doing "research" too.... for 25 years, my bank has been my local teachers credit union !

Solvent,
Independant
Member Driven
Plenty of money to loan to members
No hand out asking for taxpayer $

But then it is not . . . "TOO BIG TO FAIL"

Not sure what this has to do with guns.... Unless it is through that song...:

"Send money, guns, and lawyers, the sh * * has hit the fan..." (Warren Zevon...?)

:lol:
Quote:
Originally posted by Phil S
Don't judge all banks as being "#%^$#". I've been doing some research on the "smaller banks", and find it interesting that those who are still 'liquid', stayed away from investing in the so called "bundled mortgages". Scares me to think that MY local bank could end up being run by the "gov't"??????!!!!!!!!!! Only difference is they wouldn't be subject to stockholder input. Just Obama input!!!!! And if that happens, next thing will be "time to turn in your guns folks" says Poloski & Obama. And we are getting close to that happening!!!! They won't find MY guns. Oh my gosh. I forgot that yesterday I was to go down and buy more bullets!!!!!!!!! And if you are thinking of acquiring a or some guns, you've got to buy then from private parties, otherwise you have to register your purchase. I'm not sure if that applies to rifles or AK47's or not?????? suddenly owning an AK47 or equivelant doesn't sound so bad as it did a year ago.

[Edited on 2-21-2009 by Phil S]

Woooosh - 2-26-2009 at 10:58 AM

Everything has been at 15:1 for the past two days- EXCEPT the money exchange businesses. They must be totally in denial or maybe hope it's a misprint.

heike - 2-27-2009 at 06:30 AM

Coudl someone give me a rough guess on what the ATM machine dollar to peso exchange is? I'll be down in baja next week!

k-rico - 2-27-2009 at 06:38 AM

Don't know about ATMs but I'll be finding out what Santander gives later today. Last night the local (in TJ) OXXO was 14.10 to 1.

Woooosh - 2-27-2009 at 11:11 AM

Quote:
Originally posted by k-rico
Don't know about ATMs but I'll be finding out what Santander gives later today. Last night the local (in TJ) OXXO was 14.10 to 1.


No one in Mexico is ging to give you the BEST exchange rate at the cash register. You were very lucky to get 14:1. Convert your dollars to pesos first and withdraw pesos from an ATM- anything but paying in Dollars and expecting to come out on top.

We just saved about $250 on a set of SUV tires versus stateside by getting the price quote in pesos and paying in Pesos.

Russ - 2-27-2009 at 05:54 PM

I opened a peso account yesterday and got 14.85