BajaNomad - Inconvenient Debt - Glenn Beck

Inconvenient Debt - Glenn Beck

wiltonh - 11-28-2009 at 02:29 PM

What effect will the US printing money have on the exchange rate?

http://www.youtube.com/watch?v=lNS8IY_Td14

Wilton

wessongroup - 11-28-2009 at 02:35 PM

Good question

BajaGringo - 11-28-2009 at 02:36 PM

Probably depends on which country prints more...

Santiago - 11-28-2009 at 02:39 PM

Please take this to Off Topic where I know of at least one person who will happily provide you with an answer.
Thank you

wiltonh - 11-28-2009 at 02:50 PM

I do not think this is off topic. Last year I saw the peso go from an exchange rate of 10 to 1 up to 15 to 1. Most everyone I talked to said it was related to what was going on in the USA.

My normal time in Baja is from Dec 1 to March 1. Last year I exchanged most of my money at 13 to 1 but if I had waited until it was 15 to 1 my vacation money would have gone a lot farther.

I will be crossing the border in the next week and do not want to make the same mistake.

Anyone have an idea on how to figure out how much money Mexico is printing?

Wilton

woody with a view - 11-28-2009 at 02:59 PM

Quote:

Originally posted by wiltonh
I do not think this is off topic. Last year I saw the peso go from an exchange rate of 10 to 1 up to 15 to 1. Most everyone I talked to said it was related to what was going on in the USA.

My normal time in Baja is from Dec 1 to March 1. Last year I exchanged most of my money at 13 to 1 but if I had waited until it was 15 to 1 my vacation money would have gone a lot farther.

I will be crossing the border in the next week and do not want to make the same mistake.

Anyone have an idea on how to figure out how much money Mexico is printing?

Wilton

do like i do when buying stocks. buy a chunk now and then wait a few weeks to buy more. it's all just guesswork. if you can afford to buy (vacation) don't sweat it.

a friend ALWAYS pays in dollars. he doesn't care about the 20, 30, 40% difference from 10-1. he has X amount of dollars in his pocket and knows how long that will last him without fumbling with fluctuating prices and screwy gas pumps....

DianaT - 11-28-2009 at 03:07 PM

Quote:

Originally posted by woody in ob

do like i do when buying stocks. buy a chunk now and then wait a few weeks to buy more. it's all just guesswork. if you can afford to buy (vacation) don't sweat it.

A question about the value of a peso is not off-topic, I agree---but the inclusion of a U-Tube of Glenn Beck---puts the post way far down into Off-Topic. He would be entertaining if he was not so dangerous.

But, I agree with Woody about buying pesos---trying to really time the market usually does not work. We buy some every time we shop at Costco. Win some, lose some, but we also always run out when in Mexico.

ELINVESTIG8R - 11-28-2009 at 03:09 PM

Bajahowodd - 11-28-2009 at 04:07 PM

How sad is it that Glen Beck finds his way to this forum when he probably couldn't find Mexico, let alone Baja with two hands? For now and the forseeable future, the Peso is inextricably linked to the dollar. I am fascinated with the seeming fixation with the Peso and Dollar exchange. Granted, people on limited incomes who have to struggle from month to month obviously need to monitor exchange rates and avoid the nasty fees imposed by so many banks. On the other hand, there are many folks on this forum who vacation in Baja from time to time. I can only offer that for those of you who may venture SOB a few times a year, if you feel the need to fixate in an attempt to save a couple of bucks, maybe you're in the wrong place. For me, the whole idea of being in Baja is for the wonderful experience and the ability to just shut down all the worries. Just enjoy the place and its wonderful people.

oldlady - 11-28-2009 at 04:21 PM

The only thing greater than American gullibilty is American debt. Now, answer the man's question about the peso....that's the topic here.

Santiago - 11-28-2009 at 04:35 PM

Quote:

Originally posted by oldlady
Now, answer the man's question about the peso....that's the topic here.

Alright already.
Wilton: you are going to spend 4 months in Baja. I'm going to assume you're using an ATM card. Each week, as close to 1:00pm EASTERN STANDARD TIME on Thursday as you can, put your ATM card into a Bancomer (not some other bank) machine and take out as much as you will need for the following week. If the exchange rate, as printed in the WSJ that morning is greater than a factor of 3.1415 than the week before, take out 3 times as much as you normally would. If the same factor less, then take nothing out. At the end of 4 months you will be amazed at the amount of dollars you have left over.
Or do what Woody says, your call.

With All Due Respect

Bajahowodd - 11-28-2009 at 04:37 PM

Quote:

Originally posted by oldlady
The only thing greater than American gullibilty is American debt. Now, answer the man's question about the peso....that's the topic here.

I think I did.

oldlady - 11-28-2009 at 04:56 PM

Interesting, Santiago about the ATM advice...not bad. There was an article this last week in one of the biz mags that some of the hefties (PIMCO and that ilk) feel the peso will appreciate vis-vis the greenback , slowly and orderly over the next year, but could be substantial percentage. Not going to affect his vacation much unless we have another Dubai incident and there is another scurry to the dollar. At a high and very generalised level the rationale for peso appreciation is consistent with Beck.

I believe the US prints the peso, I know we do for several currencies. Maybe our presses are so busy making dollars we can't flood the world with pesos, we aren't that dishonest anyway...'cept maybe with ourselves.
Don't be so tuff on woody...a smigde just don't buy quite what it used to.

[Edited on 11-29-2009 by oldlady]

Santiago - 11-28-2009 at 05:05 PM

Quote:

Originally posted by oldlady
Interesting, Santiago...not bad.

Wow. A "Not Bad" from SS is like, say, a Nobel Peace Prize in the rest of the world. You really have to earn it.
I'm all aglow and a-twitter.

Is that true we print the peso for Mexico? And other countries? We have their printing plates?
Hmmmm, as Yosemite Sam used to say....."that gives me an idea"

woody with a view - 11-28-2009 at 05:09 PM

SS?

oldlady - 11-28-2009 at 05:23 PM

Woody, Senior Senora....Santiago insists on it instead of oldlady out of respect or fear or both from his mother.

[Edited on 11-29-2009 by oldlady]

woody with a view - 11-28-2009 at 05:32 PM

Quote:

Originally posted by oldlady
Woody, Senior Senora....Santiago insists on it instead of oldlady out of respect or fear or both from his mother.

[Edited on 11-29-2009 by oldlady]

ah 'chess! :lol:

monoloco - 11-28-2009 at 07:49 PM

I was surprised Friday that the dollar was higher against most currencies on the Dubai debt crisis but never broke 13 pesos to the dollar.

tripledigitken - 11-29-2009 at 06:29 AM

Seems some "dangerous talk" from last night got erased.
:?:

Thank God because I like this better

ELINVESTIG8R - 11-29-2009 at 06:53 AM

mulegejim - 11-29-2009 at 08:22 AM

To be honest, if any of us could predict the direction of currency movements correctly we wouldn't have a financial care in the world.

Cypress - 11-29-2009 at 08:56 AM

Glenn Beck makes some very good points. Political decisions have serious economic and social consequences. California is a good example. The "Golden State" is now on the verge of bankruptcy.

DianaT - 11-29-2009 at 09:01 AM

Quote:

Originally posted by tripledigitken
Seems some "dangerous talk" from last night got erased.
:?:

Probably a good thing----but still think that this entire thread belongs in off-topic because that is where Glenn Beck belongs.

ncampion - 11-29-2009 at 10:04 AM

Quote:

Originally posted by DianaT

Quote:

Originally posted by tripledigitken
Seems some "dangerous talk" from last night got erased.
:?:

Probably a good thing----but still think that this entire thread belongs in off-topic because that is where Glenn Beck belongs.

Now who's bringing their politics into the thread??????

DianaT - 11-29-2009 at 10:07 AM

Quote:

Originally posted by ncampion

Quote:

Originally posted by DianaT

Quote:

Originally posted by tripledigitken
Seems some "dangerous talk" from last night got erased.
:?:

Probably a good thing----but still think that this entire thread belongs in off-topic because that is where Glenn Beck belongs.

Now who's bringing their politics into the thread??????

Me, guilty----but still think that just the mention of Glen Beck puts this into the off-topic---no one is more political than he is or controversial.

oldlady - 11-29-2009 at 10:31 AM

I think Wilton's initial question would have been the same whether he used Beck's video, a link to a finance chart that shows the money supply or the US debt clock, also available on line. Beck didn't create the data, in this case it was just an expedient source. I wouldn't let that get in the way of Wilton's question about how this relates to the peso. It's darn good one, especially for retirees on fixed incomes. It could even be broadened to how it relates to the stability of the Mexican economy which could have ramifications to all of us who live in or travel to Baja.

DianaT - 11-29-2009 at 10:53 AM

Quote:

Originally posted by oldlady
I think Wilton's initial question would have been the same whether he used Beck's video, a link to a finance chart that shows the money supply or the US debt clock, also available on line. Beck didn't create the data, in this case it was just an expedient source. I wouldn't let that get in the way of Wilton's question about how this relates to the peso. It's darn good one, especially for retirees on fixed incomes. It could even be broadened to how it relates to the stability of the Mexican economy which could have ramifications to all of us who live in or travel to Baja.

It is a good question and very important---just too bad he included anything from Glenn Beck---even if as you say, he is just showing data, anything from Beck is immediately suspect as being twisted-----

And a subject such as this should look at data and information from unbiased sources in order to be valid. And it could have been started that way-

Any thread that uses someone like Glenn Beck is wide open for politics and problems ---- would be the same if someone started off quoting Michael Moore----