BajaNomad - Not Opening A Peso Account At This Time

Not Opening A Peso Account At This Time

DavidE - 5-8-2012 at 09:55 AM

I have been following the peso since the days of Luis Echeverría. I ran around in 1994 crying "The Sky Is Falling The Sky Is Falling!" about the fate of the peso. Sure, I was ridiculed by so-called Mexico ex-pats whom had not the least idea of whom Guillermo Ortiz was, or the significance of Cemex holding bales of derivatives.

Well I have been through half a dozen peso "weakenings" (sounds better and is more accurate than 'devaluations')

What I am seeing today bothers me. Ortiz's famous strategy of dumping a few hundred million US dollars "here and there" into the currency market has been going on since January, is getting more intense, and having less effect on the peso.

Mexican wealth (and other country's rich folks treasure chests) has been pouring into the USA, and is increasing. As bad as the US economy is one has to remember that every single bank note ever printed in the USA since 1796 is still legal tender. .01% interest on notes is better than a devaluation, and before anyone anyone gets all wound up over the Chinese Yuan Renminbi, they had better look at exchange rate charts for the last four months.

I watched the Mexican treasury LIE outrageously about the hundreds of billions of dollars it had in US Dollar currency reserves right up to 22 December 1994.

Petroleum crude oil is going to crash. There is no other term that would accurately fit the scenario. France just elected a socialist president, Greece and Spain are demanding debt relief that is going to threaten the Euro.

And Mexico is on the verge of electing a PRI/PRD/PT amalgamated presidency that is going to fundamentally dismantle all of the conservative policies enacted by the last two PANISTA administrations.

In case you haven't noticed the US treasury has been devaluing the dollar. Some countries like Mexico our 2nd biggest trading partner has tracked the dollar somewhat. Other economies like Australia and Guatemala have not. Just a few short years ago the Australian $ was was 2/3rds that of a US dollar. Now dollar for dollar it is far stronger than the US dollar. The US is trying to unhinge the Yuan from the dollar with notable miserable failure.

Too many negatives for the peso to suit me. I don't need to list the reasons why. It is going to weaken even more. It stands a great chance of weakening a great deal.

Of course the above is merely my opinion. Nothing more. Nothing less.

But I do appreciate the quote from TODAY, posted below...

Stocks fell heavily across the board Tuesday, with the S&P 500 and Nasdaq hitting two-month lows, as mounting political unrest in Greece kept investors on edge over how the nation will tackle its ongoing debt crisis.

“My attitude about equities right now has moved from being moderately bearish to moderately apocalyptic,” said Tres Knippa of Kenai Capital Management.

DENNIS - 5-8-2012 at 10:26 AM

Invest everything in drug rehab centers. The government will keep them in the black and their need will increase exponentially. Growth is guaranteed by decay.

shari - 5-8-2012 at 10:54 AM

great idea Dennis...you are so wise....hmm...maybe we should switch focus from B&B to rehab!

SteveD - 5-8-2012 at 10:56 AM

We just closed our peso account last week. Reasons: (1) we don't need it anymore for our FM-3 (now FM-2). Our US checking account statements were sufficient. It also makes more sense as it shows income, not just a static amount. (2) tired of seeing the peso slowly be devalued over the dollar.

We were in Baja when the "unplugged" the peso and it went into free-fall in the 1980's. What a mess and lots of people got hurt.

DENNIS - 5-8-2012 at 11:01 AM

Quote:

Originally posted by shari
great idea Dennis...you are so wise....hmm...maybe we should switch focus from B&B to rehab!

Sure........Just think of it. You could send the "clients" out into the streets with panhandling cans for a tax-free addition to your bottom line.
Isn't this what CREAD does?

Skeet/Loreto - 5-8-2012 at 11:44 AM

David E: There are ways to make some money if this Peso goes to 4,000 to one in the next couple of years.
Last time around I made $40,000 playing the Game. I had a very good connection which would call and let me know when the Govt. was getting ready to devalue. You must be able to havethat connection to have time to change the Peso to dollars and back to pesos.

Be careful

Cisco - 5-8-2012 at 11:47 AM

Quote:

Originally posted by DavidE
I have been following the peso since the days of Luis Echeverría. I ran around in 1994 crying "The Sky Is Falling The Sky Is Falling!" about the fate of the peso. Sure, I was ridiculed by so-called Mexico ex-pats whom had not the least idea of whom Guillermo Ortiz was, or the significance of Cemex holding bales of derivatives.

Well I have been through half a dozen peso "weakenings" (sounds better and is more accurate than 'devaluations')

What I am seeing today bothers me. Ortiz's famous strategy of dumping a few hundred million US dollars "here and there" into the currency market has been going on since January, is getting more intense, and having less effect on the peso.

Mexican wealth (and other country's rich folks treasure chests) has been pouring into the USA, and is increasing. As bad as the US economy is one has to remember that every single bank note ever printed in the USA since 1796 is still legal tender. .01% interest on notes is better than a devaluation, and before anyone anyone gets all wound up over the Chinese Yuan Renminbi, they had better look at exchange rate charts for the last four months.

I watched the Mexican treasury LIE outrageously about the hundreds of billions of dollars it had in US Dollar currency reserves right up to 22 December 1994.

Petroleum crude oil is going to crash. There is no other term that would accurately fit the scenario. France just elected a socialist president, Greece and Spain are demanding debt relief that is going to threaten the Euro.

And Mexico is on the verge of electing a PRI/PRD/PT amalgamated presidency that is going to fundamentally dismantle all of the conservative policies enacted by the last two PANISTA administrations.

In case you haven't noticed the US treasury has been devaluing the dollar. Some countries like Mexico our 2nd biggest trading partner has tracked the dollar somewhat. Other economies like Australia and Guatemala have not. Just a few short years ago the Australian $ was was 2/3rds that of a US dollar. Now dollar for dollar it is far stronger than the US dollar. The US is trying to unhinge the Yuan from the dollar with notable miserable failure.

Too many negatives for the peso to suit me. I don't need to list the reasons why. It is going to weaken even more. It stands a great chance of weakening a great deal.

Of course the above is merely my opinion. Nothing more. Nothing less.

But I do appreciate the quote from TODAY, posted below...

Stocks fell heavily across the board Tuesday, with the S&P 500 and Nasdaq hitting two-month lows, as mounting political unrest in Greece kept investors on edge over how the nation will tackle its ongoing debt crisis.

“My attitude about equities right now has moved from being moderately bearish to moderately apocalyptic,” said Tres Knippa of Kenai Capital Management.

David, Thank you. Appreciate what I consider to be good source information.

I get so much out of this forum.

On another note I am including a quote from a friend who travels a lot and is quite perceptive. "...I did hear a guy from the War College being interviewed about where the next US war will be. He was asked whether Iran or Korea and he volunteered: Mexico! Your guess is as good as mine though. We only know there WILL be one." I don't know what that means but it seems to go along with all the confusion we are experiencing in the world.

I really came away from the following, 'different':

http://www.commondreams.org/view/2012/05/07-0

DavidE - 5-8-2012 at 11:48 AM

RANT (ita),

I've got a personal policy that I use with my household Mexican help. At first their wage is agreed upon. If the peso should start slipping, their wages are guaranteed to be pegged to the dollar computed at the original rate. You cannot even begin to imagine what this means to a very poor hard working soul when peso prices soar after a weakening of the peso. To a cynic this would be the ultimate in cynicism --- the help will work their butt off in appreciation. Sorry, I just can't think that way.

DENNIS - 5-8-2012 at 11:49 AM

WOW....I didn't realize a devaluation was such a quiet, backroom event. I have to think indicators would forcast the move long before it hit the market.

This was to address Skeet's comment.

.

[Edited on 5-8-2012 by DENNIS]

KurtG - 5-8-2012 at 11:56 AM

Quote:

Originally posted by Skeet/Loreto
David E: There are ways to make some money if this Peso goes to 4,000 to one in the next couple of years.
Last time around I made $40,000 playing the Game. I had a very good connection which would call and let me know when the Govt. was getting ready to devalue. You must be able to havethat connection to have time to change the Peso to dollars and back to pesos.

Be careful

Skeet,
You constantly represent yourself as a man of high moral character and berate other members of society who don't meet your high standard but you have just admitted to participating in corrupt insider trading . Double standard when its profitable?

DavidE - 5-8-2012 at 12:07 PM

Hi Skeet, "Cluck, cluck, cluck!" I am waaaay too much chicken to wade barefoot into the piranha infested currency exchange swamp. Some of those bigger boys gotta go seven - eight hundred pounds...

SHARI: For crying out loud. You already have "re-hab"! I for one can state that anyone with the desire to come to Bahia Asuncion will soon feel like a new, re-invigorated person! Furthermore when I arrived a month or so ago, the doctors had me on 5X/day 30mg. OXYCODONE, -PLUS- 30 milligrams twice a day oral time release MORPHINE for a herniated disc. After I got to Asuncion I QUIT COLD TURKEY! The people are so nice here the weather so agreeable that yeah, this is a re-hab center, damned-near a miracle in my opinion.

So There! Phhttt---

Bajaboy - 5-8-2012 at 12:52 PM

Hey Skeet....I thought you guaranteed Rick Perry would be President :light:

DENNIS - 5-8-2012 at 12:59 PM

Quote:

Originally posted by Bajaboy
Hey Skeet....I thought you guaranteed Rick Perry would be President :light:

Skeets mind is an administration unto itself. Long Live President Ricky. :lol:

Skeet/Loreto - 5-8-2012 at 01:26 PM

It was not a "Corrupt Insider -trader thing.
I did not and would not have Paid my source of information. That source knew that I would spend some of that money in Loreto Baja which I did.All of It!

I love his stories....................

mcfez - 5-8-2012 at 01:44 PM

Hey Skeet...............

Your postings reminds me of the movie "The Goonies"

Here's a partial take of a scene:

(The Lighthouse Lounge, Basement)
(Chunk and Sloth have freed themselves and Chunk is on the phone talking to the Sheriff. Sloth is digging around in the freezer.)
Chunk: Hello, Sheriff? I'm at the old Lighthouse Lounge and I want to, and I want to report, ah...a murder.
Sheriff: Wait a minute. Wait a minute. Just hold on here. Is that you again, Lawrence?
Chunk: Sheriff, look. This time I'm telling you the truth. I'm locked inside the Fratelli's basement with this guy...
(Sloth emerges from the freezer with a container of ice cream.)
Sloth: Rocky Road, heh heh.
Sheriff: Yeah, like the time you told me about the fifty Iranian terrorists who took over all the Sizzler Steak houses in the city?
(Sloth, however, is now interested in the tunnel under the fireplace. Chunk tries to stop him while staying on the phone.)
Chunk: Sloth, get back here. Sloth, what are you doing?
Sheriff: (continuing) Just like that last prank about all those little creatures that multiply when you throw water on 'em?
(While trying to stop Sloth, Chunk has stretched the phone cord over to the fireplace, but Sloth is already starting to climb in.)
Chunk: Sloth! Sloth! We're not going in the fireplace.
(Now Chunk's phone cord breaks from the wall and the Sheriff is cut off with a dial tone.)
Sheriff: Lawrence?

KurtG - 5-8-2012 at 01:56 PM

Quote:

Originally posted by Skeet/Loreto
It was not a "Corrupt Insider -trader thing.
I did not and would not have Paid my source of information. That source knew that I would spend some of that money in Loreto Baja which I did.All of It!

Trading for personal profit with advance knowledge is insider trading. It is a federal crime in the US. In Mexico it may just be a way of life but that doesn't make it a moral act. Whether or not you paid your source is irrelevant, it is the act itself that is at issue.

DavidE - 5-8-2012 at 02:14 PM

DAMN! JUST IN, FROM LA CHUPACABRA!

""The election in Greece is increasing the uncertainty about the commitment to the terms of the bailout plans. And the peso has again proven itself vulnerable to external risks," said BBVA analyst Claudia Ceja. A local trader added that, in this scenario, investors are looking for safe-haven assets such as U.S. Treasurys and the greenback.

The peso fell 1.6% on Wednesday, but stopped short of the 2% depreciation in a single session that would have triggered dollar sales at an auction by the central bank.

Late last year, at the height of peso volatility, the exchange commission decided to stop buying dollars through monthly dollar put options and activated instead a mechanism in which it will sell up to $400 million a day on days when the peso depreciates 2% against the dollar. So far, no sales have been triggered under the mechanism".

UNTIL THE WEALTHY HAVE EXCHANGED ENOUGH PESOS INTO DOLLARS AND STASHED THEM IN THE USA BOND MARKET, THERE WILL BE NO "OFFICIAL" 2% "CIRCUIT BREAKER" DOLLAR SALES. THE BOOST TO THE PESO WOULD BE TRANSIENT AND A SURPLUS OF REQUESTS FOR DOLLARS WOULD BUST THE PESO. MEXICO'S WEALTHY DID NOT GET THAT WAY BY BEING STUPID.

The announcement when it comes of the introduction of a new 2,000 peso note will be like a klaxon horn going off.

Skeet- walk me through this transaction

thebajarunner - 5-8-2012 at 04:36 PM

Quote:

I am a little slow on the uptick these days- I folded up my CPA certificate and put it in storage some years back (true story)

So, walk me through the transaction if you will.

How much do you place in a "peso account" and how does it grow by $40k (U.S. I assume) and then you extract the dollars just in time...

I am struggling with this one, but would love to understand it, so I too could get on this easy train....

Skeet/Loreto - 5-8-2012 at 05:13 PM

If you can not figure it out you should not be involved. Go to some very safe Transaction.

Gee Skeet- not fair to keep secrets

thebajarunner - 5-8-2012 at 05:34 PM

Well, I went to an international banking site, got quote of 4.65% interest rate on a minimum deposit of $1,000,000- maximum of $950,000,000. Peso account.
Guess I will stick with the lower number for now. No reason to break the banking system all by myself.
And, that is a one year lock by the way.

So, I invest my mil (U.S.) and in just one year I have made (let me see here, 2 over the 5 times 7 carry the 8) Voila- $46,500.

Of course, for every time the peso slips one percent (1%) I have lost $10k.....and as I recall it fell 11% in one month last fall- Sept. (Ouch, we just lost $110k)

And, no matter how good my contact is upstream, I have that one year lock, so his call may not do much good. Oooooops.

So, even though you would not share your secret sauce, I think I have figured it out for myself.

As we say in the real estate development biz here in California.

"Want to make a small fortune? Start with a large fortune"

mcfez - 5-8-2012 at 05:54 PM

I agree.....I am a little confused on this matter too............in fact..........I am sure that there are a few thousand of us that don't understand your wizardly ways of financial wonders..............please, could you take us all through a step by step explanation?

I want to get rich just like you

LaPazGringo - 5-8-2012 at 06:05 PM

I'm trying to wrap my mind around this and am having a hard time. Consider me a beer-swilling, simple-minded gringo with a few dollars whose been taking out $1000 USD worth of pesos every day at around 13:1. Put it simply for me. Should I stop doing that and wait for the peso to devalue against the dollar even further?

thebajarunner - 5-8-2012 at 06:11 PM

Well, after my analysis of Skeet's 'system' I too am confused.

However, you wanted it simple, so here goes.

If you think the peso will rise against the dollar (at least 10 or 12 people in the world believe this) then by all means leave your money in a peso account, and keep your funds in pesos.

On the other hand, if you think the peso will decline in value against the dollar (I guess that is the other 8 billion or so of us in the world) then get your peso accounts, and pesos on hand back into dollars ASAP.

Simple as I can make it.....
If you believe in the peso, keep your funds in pesos.
If you do not believe in the peso, then get your funds into something else.

LaPazGringo - 5-8-2012 at 06:36 PM

Quote:

Originally posted by thebajarunner
Well, after my analysis of Skeet's 'system' I too am confused.

However, you wanted it simple, so here goes.

If you think the peso will rise against the dollar (at least 10 or 12 people in the world believe this) then by all means leave your money in a peso account, and keep your funds in pesos.

On the other hand, if you think the peso will decline in value against the dollar (I guess that is the other 8 billion or so of us in the world) then get your peso accounts, and pesos on hand back into dollars ASAP.

Simple as I can make it.....
If you believe in the peso, keep your funds in pesos.
If you do not believe in the peso, then get your funds into something else.

Okay, thanks! So hold dollars, sell pesos. Simple enough!

But now what confuses me is that the OP says he's not opening a peso account at this time and you say "if you think the peso will decline in value against the dollar (I guess that is the other 8 billion or so of us in the world) then get your peso accounts, and pesos on hand back into dollars ASAP."

If I, errrr I mean a friend of mine, was dumb enough to have been buying pesos at an alarming rate over the last 90 days, and now wants to convert them back into dollars, what's the best way? Am I going to lose on the exchange?

Riom - 5-8-2012 at 07:08 PM

Quote:

Originally posted by thebajarunner
If you think the peso will rise against the dollar (at least 10 or 12 people in the world believe this) then by all means leave your money in a peso account, and keep your funds in pesos.

On the other hand, if you think the peso will decline in value against the dollar (I guess that is the other 8 billion or so of us in the world) then get your peso accounts, and pesos on hand back into dollars ASAP.

The other factor is over what time period? Sure, in the short-term there may be a bit of a "save haven" (ha!) blip in favor of the US$ as people rush out of the Euro etc - really a case of the least-worst option.

But longer term (several years onwards) it's hard to see how the USD can sustain value compared to the resource-based currencies including the Canadian and Australian Dollars, and (to a lesser extent) the Mexican Peso. So many dollars have been printed (under both recent presidents) that the value has nowhere to go but down.

I have regular income and expenses every year in five, sometimes six, different currencies and I've learnt that's it's foolish to try to second-guess the currency market - it doesn't work on logic, but emotion and herd instinct (hence the "safe haven" rush to a devaluing USD).

Like any investment, the least risky approach is to diversify - hold some money in each currency that you expect to have expenses in, and understand that by being safer you might loose out on the highest gains (and losses). I hold a float in each of my five primary currencies, and try to avoid switching amounts as it's hard to time it right. I certainly wouldn't base any switching on discussions of just one currency pair over an unstated period of time in a non-specialist forum. :-)

Rob

willardguy - 5-8-2012 at 07:20 PM

Quote:

Originally posted by LaPazGringo
I'm trying to wrap my mind around this and am having a hard time. Consider me a beer-swilling, simple-minded gringo with a few dollars whose been taking out $1000 USD worth of pesos every day at around 13:1. Put it simply for me. Should I stop doing that and wait for the peso to devalue against the dollar even further?

sounds like someone's got a serious habit! :lol:

DavidE - 5-8-2012 at 07:51 PM

To complicate matters even further...

This is an election year. The PAN is all but ready to pack it in. The election occurs this summer. No comes a dozen or two if's, rotten stinking caveats. Remember what follows are IF'S:

The USA consumer index, manufacturing index, and new home sales keep slipping, unemployment claims keep increasing..

AND

Crude oil futures get the rug pulled out from under them

AND

France, Spain, Portugal and Greece tell Germany to Go Take A Flying ....... which means the € no longer means €urope

AND

The PRI, PRD and PT, Have Their Way with the PAN in the election

AND

There is massive unrest in China due to factory closures due to a large decrease in consumer goods in the USA (look for Wal-Mart stock to flatten out and then start to decline)

I would not want to be fondling a large wad of high denomination peso banknotes.

+++++++++++++++++++++++++++++++++++++++++++++++++++

If I was holding say 80,000 MN or more I would get a bunch of receipts proving it wasn't drug cash, head for San Ysidro and do the best I could at one of the casas de cambios. I would make sure it totaled nowhere the limit allowed by US Customs. I would not tell a soul my plans, and I would have exchanged everything to thousand peso bank notes to save space to hide it from the army.

I would shop Wal-Mart for some 300 dollar laptops, buy a 26" flat panel TV, buy a home theater sound system, color laser printer on sale, maybe a high power modem repeater also on sale, and return with everything carefully packed to make it appear to be near worthless. I would pull into the declaration lane, say "Everything for my own personal use" and then squeak home. I would brag to everyone "Gee I bought all of this brand new stuff but maybe I don't really need it, but then it cost me a fortune to go up and get it".

Entiendes?

Or I could wait, do nothing and see eighty thousand pesos become worth, say
a hundred US dollars over time.

In 1900 a peso was worth roughly a dollar. For decades Banco de Mexico gave me 12.49 pesos for every dollar.

Today, the peso is worth THIRTEEN THOUSAND PESOS for every dollar.

Riom - 5-8-2012 at 08:25 PM

Quote:

Originally posted by DavidE
If I was holding say 80,000 MN or more I would get a bunch of receipts proving it wasn't drug cash, head for San Ysidro and do the best I could at one of the casas de cambios.
...
I would shop Wal-Mart for some 300 dollar laptops, buy a 26" flat panel TV, buy a home theater sound system, color laser printer on sale, maybe a high power modem repeater also on sale,

Whether or not you think the peso will devalue, I can't see the sense in exchanging real money for a bunch of toys that will be obsolete in a short time, might as well just give the money away locally. Exchanging pesos for a basket of other currencies (NOT just the USD!), with a little gold and silver for insurance, would stand a better chance of preserving value, if you think the peso is risky (and that's very debatable).

Or if you feel the need to go shopping, at least buy durable goods (furniture, building materials etc) rather than items which are near-worthless soon after they leave the store. Given the likely inflation in USD in a while (same thing as devaluation, when compared to other countries) there's certainly an argument for buying nice long-lasting stuff now rather than hoarding cash.

Quote:

Originally posted by DavidE
Or I could wait, do nothing and see eighty thousand pesos become worth, say
a hundred US dollars over time.

So what? You're spending it in Mexico, so you should have pesos. If you're not, fine, keep some in dollars (rather than spending it now as you suggested). Or maybe AUD or BRL - perhaps you'll be able to buy 10 USD for 1 AUD in a few years.

Maybe it'll be less than 8 pesos per USD instead (personally I think this is likely in 2015-2020), in which case you'll be kicking yourself for having changed it all to USD back in 2012 (if you didn't blow it all on toys). Who knows? Way too many variables in the current world to know either way, so taking hasty action to dispose of a currency on a hunch or a bad experience from a few decades ago seems pointless. But certainly leaving everything in a single currency (peso, USD, even AUD) would be careless, there's no one currency that is a safe bet.

Rob

thebajarunner - 5-8-2012 at 08:31 PM

Man, I hate to give investment advice,
have spent an entire career avoiding doing so.

Having said that, if you are really concerned, then the concept of holding several types of currency/liquid assets is good.

However, that will likely cancel itself out, one against the other.

The real issue is, do you trust the (Obama) dollar or the (PRI) peso.
Not a good question IMO

Personally, I would look at history, and the dollar is still the spot that the world seeks to hold itself together.
The peso, historically, has been a very dark hole, and likely will not improve.

So, I am not advising, but I am continuing to be very nervous about the peso.

A personal story....
In the early 80's an elderly friend approached me and said, "I sold some cattle that the IRS will never track and I want to put the money somewhere safe where they will not see it."
So, being a good pal, en route to one of our Baja races I took $5,000 and opened him a dollar account at Banamex... They had never invaded dollar accounts in Mexico, in history, and that was a sure thing.
Over the next couple of years, and the next race trips, I added another $5k to his stash, now well over $10k with interest.
Those of you that know your history know what happened next- somewhere in the mid-80's the government decreed that all dollar accounts would revert to pesos, and the peso then dived down to absolute zero.
I think when all was said and done he ended up with a couple hundred bucks and that is the end of a story of trusting Mexico, Mexican banks, Mexican currency variables, etc.

So, I leave it to you to read my story and make your own conclusions,
my conclusion, I would never again trust the banking system down in the land that I love....Sorry Baja, your record is against you.

Iflyfish - 5-8-2012 at 09:23 PM

Quote:

Originally posted by shari
great idea Dennis...you are so wise....hmm...maybe we should switch focus from B&B to rehab!

http://www.youtube.com/watch?v=KUmZp8pR1uc&ob=av2e

Sweet Irony. I'd come to your rehab..yes...yes...yes.

Iflyfish

Riom - 5-8-2012 at 10:17 PM

Quote:

Originally posted by thebajarunner
somewhere in the mid-80's the government decreed that all dollar accounts would revert to pesos,

Mexico doesn't have a monopoly on that type of action. Executive Order 6102 had a similar effect (although less extreme). Printing money (to run excessive deficits year after year) has the same effect (eventually).

History does tell us that no country (not even the US) can be trusted. And that it's usually hard to guess which country is going to screw their citizens next. Could be Mexico again. Could be the US again. Could be Canada. Seems unlikely to be Canada (unless they go to war with Russia over the Arctic), but I'd certainly put the risk of the US doing something drastic to their monetary system on a par with Mexico over the next decade.

Rob

Skeet/Loreto - 5-9-2012 at 06:24 AM

One of the Key Factors might just be the 28 Day Notes that you can buy at nearly all Mexican Banks.

At one time in the devalue i was getting 148 %. check it out

vandy - 5-9-2012 at 07:17 AM

One way people can make good money when they believe that a currency will fall against the dollar is to buy a "put option" on a currency future.

Let's say you get a contract for a million pesos with an option to sell them at 13.4 per dollar in three months. Somebody has to commit to buy them for the contract to be valid, hence the cost of the contract, say, $3000US.

If the pesos devalue 10% in this time, the contract is exercised and you make 100,000 pesos minus your $3000US.

This is a greatly simplified example, not showing the layers of corporate insurance involved, keeping it all in dollars US, etc., but it shows how it can work.

If you KNEW the peso would devalue by 50% in one week compared to the dollar (it HAS happened), your shorter term contract would be much less expensive and you would make a killing. Hello Skeet.

CORRECTION: The above should read "will pay one dollar for 13.4 pesos", not the other way around. So when the peso drops to 15 pesos per dollar, you can still get your dollar for 13.4 pesos, and therein lies the profit.

[Edited on 5-9-2012 by vandy]

Skeet/Loreto - 5-9-2012 at 07:22 AM

Very good Vandy.

If you go back and look at the way the peso Devalued and to what amounts there are a couple of ways to make some money.
It is much more Fun to figure it ou on your own!

Skeet- sorry but your stories don't jibe

thebajarunner - 5-9-2012 at 07:53 AM

Quote:

Now you are agreeing with the suggestion that a "put" was your strategy.
Puts do not match the story you previously gave,
there you were timing your "change the peso to dollars and back to pesos" game,
not the same, old friend,

just still trying to get a handle on this moving target..

and, who was to know, without reading Nomad, that Canada and Russian will soon be at war over ownership of the Arctic,
simply amazing the things you learn on this turf.....

comitan - 5-9-2012 at 08:34 AM

And More:

http://www.cbc.ca/news/world/story/2010/09/16/canada-russia-...

OK I read the article

thebajarunner - 5-9-2012 at 08:39 AM

An article, two years old, out of a Canadian source,

hardly puts the world on the edge of all out war now, does it???

Barry A. - 5-9-2012 at 09:18 AM

I personally like RIOM's thinking the best.

Like Shari, I have lost all faith in the Mexican "system" of money-matters after years of supporting and investing in same (and making a lot, and also losing a lot---- of money.) I did get out ahead, but not by much.

No more direct investing in "Mexico", ever. I now stay with world-wide stocks, and lots of them to spread the risk, and let-er-buck.

As for the USA-------huge inflation (the insidious TAX) is inevitable, it's only a matter of when, not "if", IMO. You can't keep printing money without eventual big-time inflation.

The world money-matters are mostly crazy now, and the hand-writing appears to be on the wall.

Depending on Skeet's personal position vis-a-vis his "source's" position, what he did probably does not qualify as prosecutable "insider trading". All really successful investors rely on our "sources" of info, coupled with analytical skills and experience------without "info" it's largely a Casino. Good educated guesses make for good investing.

Barry

Bajatripper - 5-9-2012 at 09:19 AM

Quote:

Originally posted by Skeet/Loreto
If you can not figure it out you should not be involved. Go to some very safe Transaction.

What a friggin cop-out, Skeet. You are full of it, as usual, trying to sound like the Big Man that you aren't. But I do enjoy the laughs you bring to this board and wouldn't trade you for all of the rattlesnakes on whatever island that was that you infested.

DavidE - 5-9-2012 at 09:23 AM

PLEASE PLEASE PLEASE
Keep in mind during all this simply delicious B... (er Gossip) the last three words within the title of this thread ".............. AT THIS TIME"

I am a lot more worried (Not a joke) about a massive slowdown in the Chinese economy. China is not homogenous. It is similar to what the USSR was, even to different languages. Beijing lives in holy terror of a popular unrest that would threaten to topple it. China would lapse into civil war.

We would be cut off, totally, absolutely, and completely from a major portion of our consumer goods. I did my college thesis (back when there were wooly mammoths roaming the earth) on Latin Americas economy focusing on Mexico. But. A meltdown in China would mean a "Black Friday" in the USA to make the one in 1929 pale in comparison. Sorry, but this is not theory.

Can you imagine all the doors on all the Wal-Mart's chained and padlocked? Can you imagine tire stores queued up with customers trying to find scarce tires no longer made in the USA but were made once upon a time in China?

DavidE - 5-9-2012 at 12:14 PM

Also, for those who have critiqued the wisdom of taking a very large bale of pesos and converting them to "worthless self-devaluing trinkets".

I can sell in La Paz, in minutes a 300 dollar brand new laptop for 500 dollars. A hundred fifty dollar 26" flat screen TV for 300 dollars. Oh, that's right, all the expats want a laptop with a español operating system, a TV with español controles. No it isn't legal. And no it isn't MORAL for some rich Mexican to sell a hundred dollar product for four hundred dollars either. I crossed swords with Costco Mexico about this. Their answer? The "final" freakin' excuse? "Well this isn't the United States". This was not Costco USA, it was Costco Mexico.

And yeah, we did the Aduana jig, and the IVA jag.

Folks in the USA who are or who want to become wealthy are adopting all the bad habits of Mexico's worthless wealthy class. The one's who exploit their workers, you know the type, they pull up to the office in a brand new 700 series BMW, exit with Rolex and gold chains clanking, and tell their loyal workers why it is necessary for them to starve or "hit the road".

If Mexico's wealthy would believe in their "patria" they wouldn't send hundreds of billions of pesos abroad and pour white gas on a smoldering campfire. It makes peso weakening 1000% worse.

It's no better in the USA, either. Speculators have NO ETHICS when such speculation gets out of control, for basic commodities, the foundation of life and causes the poor to become poorer. Dammit! I" said GETS OUT OF CONTROL! Not stopping reasonable and ethical speculation!

Do you know that A FUNDAMENTAL TEACHING OF AL QAEDA is the immorality of out of control speculation in commodities? Because of the GREED, the PIGGISHNESS of a few, a terror group has VALID and TRUE ammunition to use when recruiting idiot zealots willing to die.

Now let's hear it! Let people who cannot read English misinterpret what I just wrote or expose themselves as someone who is willing to trod on the graves of the poor!

KurtG - 5-9-2012 at 01:11 PM

Quote:

Originally posted by Barry A.
Depending on Skeet's personal position vis-a-vis his "source's" position, what he did probably does not qualify as prosecutable "insider trading". All really successful investors rely on our "sources" of info, coupled with analytical skills and experience------without "info" it's largely a Casino. Good educated guesses make for good investing.
Barry

You are , of course, correct. I was simply pointing out that Skeet presents himself as a moral man with Christian ethics that are superior to those of us who do not share his religion or who take issue with his views. I don't like sanctimonious hypocrites who lecture the rest of us but relax their standards when personal profit is involved. But that's just me, I could be wrong.

Skeet/Loreto - 5-9-2012 at 01:16 PM

The United States of America is not going to Fail. Cannot you Nuts see that we are just having some "Corrections"' mostly caused by the very inept Blame Generation and a Bunch of Commies types who do not want to work for their Food!!!

Two Generations of Parents{if you want to call them as such} failed to raise their children with and Respect ,Honor, Caring, Kindness, fighting Ablilty, Comman Sense and other everyday living Morals.

Those two Generations grew up being taugh by the Factless TV and Hollywood Butt Holes

They are convinced that anyone who makes money should share it with them without them puttin out any effort to Produce on their Own.
Have Faith, the Religious Bunch in this Country will make the chance to go Forward and start Teaching Morals once again.

Spoiled Blame Generation!!! Poop heads!!!!.

DavidE - 5-9-2012 at 01:19 PM

You're not wrong Kurt.

For a view of what a hundred million dollars in currency reserves, just bought the Mexican Peso, go to XE.com

Under Change Currency: Enter MXN

Look for new MXN list at lower left corner of list of currencies (look for Mex flag insignia)

Mouse click "Inv" just under 13.49 (or whatever it happens to be at the moment)

Remember this is for early afternoon 05/09/12...

and see what happened several hours ago,

Bajaboy - 5-9-2012 at 01:21 PM

Quote:

Originally posted by Skeet/Loreto
The United States of America is not going to Fail. Cannot you Nuts see that we are just having some "Corrections"' mostly caused by the very inept Blame Generation and a Bunch of Commies types who do not want to work for their Food!!!

Two Generations of Parents{if you want to call them as such} failed to raise their children with and Respect ,Honor, Caring, Kindness, fighting Ablilty, Comman Sense and other everyday living Morals.

Those two Generations grew up being taugh by the Factless TV and Hollywood Butt Holes

They are convinced that anyone who makes money should share it with them without them puttin out any effort to Produce on their Own.
Have Faith, the Religious Bunch in this Country will make the chance to go Forward and start Teaching Morals once again.

Spoiled Blame Generation!!! Poop heads!!!!.

Skeet, you are ignorant if you think one must be religious to teach morals.

Skeet/Loreto - 5-9-2012 at 01:31 PM

Bajaboy]

Sorry I did not mean to indicate such.
Morals are generally taught by People who have the Morals.

Skeet/Loreto - 5-9-2012 at 01:33 PM

Except in the past couple of Generations a Great Number of College Students have been taugh by a Non=Moralist bunch of Left Wing Nut College profs. who have never been out in the World!!!

Bajaboy - 5-9-2012 at 01:46 PM

Quote:

Originally posted by Skeet/Loreto
Except in the past couple of Generations a Great Number of College Students have been taugh by a Non=Moralist bunch of Left Wing Nut College profs. who have never been out in the World!!!

I could site a number of right wing nut jobs who fail to have morals as well. But I do agree that society, in general, seems to have lost touch with morality.

1bobo - 5-9-2012 at 03:38 PM

Quote:

Originally posted by KurtG

Quote:

Unless you are printing your own, currency speculation is a zero sum game. That is, in order to "go short" someone else has to "go long". It's always a gamble like any other gambling game. If my dealer friend shoots me cards from the bottom of the deck, I'll win at the expense of the other player(s). According to Skeet, that's not cheating because I didn't tip the dealer. If I know (from inside info) that the Peso will be devalued soon, I'll borrow a bunch of Pesos from a friend, buy dollars, and pay him back in Pesos after the devaluation. Just made $40,000. Sweet deal.

DavidE - 5-9-2012 at 04:04 PM

Hey Skeet :-)

"Your gasoline just went to fifty bucks a gallon and you'd better be carrying a wad of cash to buy a loaf of bread". Are you saying this is democracy in action?

You think there are LIMITS some form of ceiling for GREED? Every woman should own thousands of pairs of shoes like Imelda Marcos? Sheiks have every damned right to fly I SAID FLY their new Rolls Royces from Bahrain to England have them serviced?

It is a RIGHT to have geneticists clamoring over making basic seed genetically impossible to yield seed stock from crops? Genetically engineered to render STERILE any competing crop foliage? Forcing farmers in the end to purchase products from them?

It is a RIGHT for Archer Daniels Midland to try and sell corn syrup to Mexican soft drink bottlers at ONE THIRD the price they charge US bottlers? Their plan was to bankrupt Mexican sugar production and then raise prices five-fold.

These are HUNT BROTHERS MORALS. I'll bet anything I could bankrupt you inside a year if I was given free reign inside the states. But alas, I don't have "The Right Stuff" thanks to an HMO in 1991 that refused to pay a bill nearing six hundred thousand dollars for city of hope, because I was forced to move to California. I couldn't do it anyway. I don't have the heart to destroy human life.

But neither do I have Mexican stoicism to just grit my teeth and take it when greedy people are socking it to me. I shall continue to scream.

Want a laugh? Look what Ronald Wilson Reagan did when he ordered The Bureau of The Budget to disconnect calculations of inflation from key FUNDAMENTAL cost of living indexes. And, at heart I am a conservative. But I am not a maggot/leech conservative.

Calling Skeet- back to the "secret recipe"

thebajarunner - 5-9-2012 at 04:41 PM

I was still hoping that Skeet could enlighten us on strategies to profit from currency fluctuations by well timed swaps of dollars and pesos.
Nothing I have heard, thus far, has shed much light on this very intriguing and profitable subject,
hey, I just want my share of the gravy slopped onto the table.

Bajafun777 - 5-9-2012 at 05:31 PM

It appears Skeet has everyone in an uproar attacking what he wrote. Just remember that Skeet has lived in tough times, as did his parents who were part of the depression. He was raised on tough times and maybe he does not phrase everything in a manner that we all like. However, he is trying to express his disgust and worry over how things are happening in the U.S.A. and Mexico. Heck, I don't know maybe you can't teach an old dog new tricks but I tend to thing many of us have some old dog in us.LOL

Mexico does not need another pesos problem but it seems like every time a President leaves office the Treasury is flipped upside down. Hopefully, that is not the case this time but who really knows what goes on behind closed doors. LOL

Skeet has some merits in trying to say too many people in the U.S.A. think they are entitled to others monies because they have no job nor any marketable skills to get a job. The job situation is bleak right now but this has not always been the case in the U.S.A. I do not mind giving a "Hand UP" but object to a generation after generation in families of "Hand OUTS." I have tried to help people now and in the past get jobs but it was disappointing when they start saying the pay was too low or they did not like the hours of work. Come on, so it is better to take "Hand Outs" than work for your own needs? This has been and still is the problem in the U.S.A.

Mexico has no Public Assistance System like the U.S.A., which pays so well there is no need to work or get a job. In Mexico you better find something to do to get money even if it is begging, as nobody is going to come to where you are to give it to you. In the U.S.A. we have to over come this or we will find ourselves fighting those that think we have to carry their load forever.
My heart does go out to those that have a loss their jobs due to outsourcing of American jobs to China, India and other Asian Countries. Our Presidents and Congress have let all of our citizens down.

Bottom line, I hope Mexico's pesos does not take another nose dive like in the past and I hope the U.S.A. gets its financial affairs in order. I lost hard earned money in the stock market when it dumped here in the U.S.A., which I was planning to use during my retirement. I know probably a lot of others on this board probably experienced some of the same. Tough moving monies out of a landslide drop in the stock market and since then started managing my own monies not depending on investment firms. This is a depressing topic and I hope we all make it through these tough times in the U.S.A. and Mexico. Take Care & Travel Safe-----"No Hurry, No Worry, Just FUN" bajafun777

Still waiting to hear how the scheme works.

thebajarunner - 5-9-2012 at 05:41 PM

Quote:

Originally posted by Bajafun777
It appears Skeet has everyone in an uproar attacking what he wrote. Just remember that Skeet has lived in tough times, as did his parents who were part of the depression. He was raised on tough times and maybe he does not phrase everything in a manner that we all like. However, he is trying to express his disgust and worry over how things are happening in the U.S.A. and Mexico. Heck, I don't know maybe you can't teach an old dog new tricks but I tend to thing many of us have some old dog in us.LOL

Sorry sir, I have not attacked anyone, nor am I in an uproar.
I just want to know how you can make $40k in trading pesos and dollars.
And, I need no soliloquies on macro-global-econ.
Had enough of that in school.

Bajafun777 - 5-9-2012 at 06:30 PM

LOL, bajarunner: I don't know if Skeet did or didn't make 40K in trading pesos and dollars. However, anyone can invest monies at the right time creating such earnings but that is not the norm. Many have also lost that much money and if he used an experienced investor's recommendation he may not know the actual ins and outs. Either way what is the big deal, you don't believe it nor do others so that being said no need to know the information.

Most of us that have been on this board over the years know and accept Skeet as someone with different memories and feeling in Mexico and out. No need to try and push something out of him, as it appears he does not intend to answer anymore than he already has. Hope we all get some understanding when we get older and the world just seems to go spinning by in so many different ways. You never know another's person's breaking point or lonely situations that may lead to health issues that nobody wants anyone to have. His choice of how he writes things are not always the best, so let's agree on that while moving on.

Hopefully, I did not get you upset. I am just trying to maybe slow this down before the beat down gets too far out there. I have seen where some of these posts go regarding Skeet and really just would prefer it didn't. Tell you what if we ever meet up in Baja I will buy you a couple of cold ones and tell you how you can lose $20,000 when the Dow stock market goes from 13,000 down to 8500. This can make a baby cry and others too,LOL. Take Care & Travel Safe---"No Hurry, No Worry, Just FUN"

DavidE - 5-9-2012 at 07:33 PM

The ballad of "Smiling During Hard Times"* should be taught to every American who thinks the world owes them a living. Unfortunately it may not be understood because it is sung in Mexican Spanish.

*Fictitious of course but oh so true

Ex-pats, please walk a bit in los huaraches of hard working poor household help. I know most expatriates do this anyway, but when their living standard goes from peor a tan horible, bring something to brighten their day. For instance a fifteen dollar package of those microfiber towelettes from Costco USA can be divided into roughly seven portions and each portion would cost the eqvt. of TEN US DOLLARS here in Mexico. Men and women love them and treasure them. To a poor person even a single towel ($3 here) is considered to be wonderful. Yes a single towel costs more, each, than in a package of 4 or so).

Genuine GE (9-watt) daylight compact fluorescent lamps emit more light than a 20 watt Chinese reject that would be laughed at in the USA before it goes up in smoke.

I paid SEVENTY DOLLARS in Mulege at Casa Yee last year for an orlon blanket. A sixteen dollar Wal-Mart comforter would be larger and warmer. This would make a bulky but excellent gift. So would a quality air circulation fan, but because of CFE it should be something small. I cannot decide which holds the record of the laughably worst electrical products on the planet: Mexican electrodomesticos or British automobile electricals.

Cisco - 5-9-2012 at 07:34 PM

Quote:

Originally posted by DavidE
You're not wrong Kurt.

For a view of what a hundred million dollars in currency reserves, just bought the Mexican Peso, go to XE.com

Under Change Currency: Enter MXN

Look for new MXN list at lower left corner of list of currencies (look for Mex flag insignia)

Mouse click "Inv" just under 13.49 (or whatever it happens to be at the moment)

Remember this is for early afternoon 05/09/12...

and see what happened several hours ago,

13.5118 at 7:31 P.M. Pacific time at http://www.x-rates.com/d/MXN/table.html

Graph since Dec. http://www.x-rates.com/d/MXN/USD/graph120.html

Cisco - 5-9-2012 at 07:51 PM

Quote:

Originally posted by DavidE
Also, for those who have critiqued the wisdom of taking a very large bale of pesos and converting them to "worthless self-devaluing trinkets".

I can sell in La Paz, in minutes a 300 dollar brand new laptop for 500 dollars. A hundred fifty dollar 26" flat screen TV for 300 dollars. Oh, that's right, all the expats want a laptop with a español operating system, a TV with español controles. No it isn't legal. And no it isn't MORAL for some rich Mexican to sell a hundred dollar product for four hundred dollars either. I crossed swords with Costco Mexico about this. Their answer? The "final" freakin' excuse? "Well this isn't the United States". This was not Costco USA, it was Costco Mexico.

And yeah, we did the Aduana jig, and the IVA jag.

Folks in the USA who are or who want to become wealthy are adopting all the bad habits of Mexico's worthless wealthy class. The one's who exploit their workers, you know the type, they pull up to the office in a brand new 700 series BMW, exit with Rolex and gold chains clanking, and tell their loyal workers why it is necessary for them to starve or "hit the road".

If Mexico's wealthy would believe in their "patria" they wouldn't send hundreds of billions of pesos abroad and pour white gas on a smoldering campfire. It makes peso weakening 1000% worse.

It's no better in the USA, either. Speculators have NO ETHICS when such speculation gets out of control, for basic commodities, the foundation of life and causes the poor to become poorer. Dammit! I" said GETS OUT OF CONTROL! Not stopping reasonable and ethical speculation!

Do you know that A FUNDAMENTAL TEACHING OF AL QAEDA is the immorality of out of control speculation in commodities? Because of the GREED, the PIGGISHNESS of a few, a terror group has VALID and TRUE ammunition to use when recruiting idiot zealots willing to die.

Now let's hear it! Let people who cannot read English misinterpret what I just wrote or expose themselves as someone who is willing to trod on the graves of the poor!

"The few own the many because they possess the means of livelihood of all ... The country is governed for the richest, for the corporations, the bankers, the land speculators, and for the exploiters of labor. The majority of mankind are working people. So long as their fair demands—the ownership and control of their livelihoods—are set at naught, we can have neither men's rights nor women's rights. The majority of mankind is ground down by industrial oppression in order that the small remnant may live in ease."

—Helen Keller, 1911

DavidE - 5-9-2012 at 07:57 PM

I tried! I really, really tried!

But I went to the PESO FUTURES SITE. I should not have. I laughed so hard after reading the bottom cut & paste that I cannot stand it --- my side hurts like it was hit with a baseball bat.

++++++++++++++++++++++++++++++++++++++++++++++++++++

"Early losses Wednesday carried the exchange rate as far as MXN13.5625, just shy of the MXN13.6041 level that could have triggered dollar sales by the Bank of Mexico. The central bank auctions up to $400 million a day at a minimum price 2% above the previous session's "fix" rate, which is set each day based on spot rates.

The dollar-sale mechanism was activated in late November because of strong external volatility affecting the peso, but hasn't yet generated any dollar sales. The Bank of Mexico has been accumulating foreign reserves as a buffer against financial market shocks, and currently holds more than $154 billion in reserves."

++++++++++++++++++++++++++++++++++++++++++++++++++

A hundred and fifty four billion dollars in cash, not just any cash but in dollars. Mexico? Politicians? 154 BILLION DOLLARS just sitting there? I'd better go read the Silmarillion before my heart gives out from utter hysterical laughter.
++++++++++++++++++++++++++++++++++++++++++++++++++

Cisco - 5-9-2012 at 08:04 PM

Quote:

Originally posted by DavidE
I tried! I really, really tried!

But I went to the PESO FUTURES SITE. I should not have. I laughed so hard after reading the bottom cut & paste that I cannot stand it --- my side hurts like it was hit with a baseball bat.

++++++++++++++++++++++++++++++++++++++++++++++++++++

"Early losses Wednesday carried the exchange rate as far as MXN13.5625, just shy of the MXN13.6041 level that could have triggered dollar sales by the Bank of Mexico. The central bank auctions up to $400 million a day at a minimum price 2% above the previous session's "fix" rate, which is set each day based on spot rates.

The dollar-sale mechanism was activated in late November because of strong external volatility affecting the peso, but hasn't yet generated any dollar sales. The Bank of Mexico has been accumulating foreign reserves as a buffer against financial market shocks, and currently holds more than $154 billion in reserves."

++++++++++++++++++++++++++++++++++++++++++++++++++

A hundred and fifty four billion dollars in cash, not just any cash but in dollars. Mexico? Politicians? 154 BILLION DOLLARS just sitting there? I'd better go read the Silmarillion before my heart gives out from utter hysterical laughter.
++++++++++++++++++++++++++++++++++++++++++++++++++

Hang in there Guy.

Your rational perspectives regarding humanity and the money market are highly sought and needed during these times.

Skeet/Loreto - 5-10-2012 at 12:05 PM

David E , Cisco and others:
First you must understand that this Situtaion was a once only Deal. Most all of the Banks in Baja that I knew of were offerring very high Interest rates on any Dollar account.

Since many do not understand I will try to explain How I made the Money.
I borrowed $4,000 dollars from my Mother and invested in a Dollar Account at a Bank in TJ . I ended up with my last account at BankComer Villa Constitution.

1st account Invested $,3,000. peso was 8 to the Dollar ----32,000 PESOs
Interest at $48%

My connection called and I with drew my Dollars and Interest $32,000 x 48 % --15,360

Waited until the Delvalue had settled at 12 to 1 and reinvested Same amount of Dollars this time at 51%.

I did this for over a year with a Bank in La Paz and the One in Constitution,'

At the end of the Devaluation I had about $40,000 with the last Note paying 148% interest.

The banks in Baja are still paying very good interest on the 28 Day Notes and are charging some of their customers as much as 100% for opening a new Business.

I doubt that it will be the same this time but I am watching close just as i am watching close to what I can get Fadcebook for !!

Skeet

DavidE - 5-10-2012 at 12:53 PM

Skeet,

Señor, por favór, at no time were my comments directed at, intended for, implied, or annotated at anything you said, or did. Entiendes? Not intended as a disfavor but rather a total disconnect from your issue --- anything I said, or implied was specifically directed at individuals whom are unaware of the existence of this forum and of course, could care less about it and everyone in it. What you did is no business of mine. I did state that I was afraid to venture barefoot into the currency futures swamp because of gigantic piranha. Nor would I venture into a small town good-old-boys poker session in the back room with the intention of cleaning-their-clock. I know when to not ask to sit down at the game.

Skeet/Loreto - 5-10-2012 at 12:59 PM

My Apologies!

There were some posters who could not figure out how it could be done. But if I was still in Loreto I woul;d be checking and seeing How much Interest was being charged to the Banks Business Customers. That is the Key Factor as well as having someone in the Know with the Govt.

Cisco - 5-10-2012 at 01:04 PM

Quote:

Originally posted by Bajafun777

My heart does go out to those that have a loss their jobs due to outsourcing of American jobs to China, India and other Asian Countries. Our Presidents and Congress have let all of our citizens down.

Take Care & Travel Safe-----"No Hurry, No Worry, Just FUN" bajafun777

"Our Presidents and Congress have let all of our citizens down."

Nope. Just 99% of them.

Skeet/Loreto - 5-10-2012 at 01:09 PM

No Cixco You are WRONG!

The Parents of two Generations have let their Children Down. This has allowed them to become Liars, Cheaters and Thieves.

They have no Morals, no Judgement, no Common Sense, no ability to think about the other Person other than What will they GIMMIE???

Our own People with thier Love for GREED have let all of us Down

DavidE - 5-10-2012 at 03:42 PM

What I am seeing is the conception, the nucleus of a rebirth of unions. The fight is going to be ugly like the first advent of organized labor, but the reasons why labor organized in the first place is high apparent. Maybe organized labor can learn from their first mistake and not allow their presidents and chiefs to become as greedy and power mad as what they oppose.

Skeet/Loreto - 5-10-2012 at 03:50 PM

Very well said:

I have gone through a lot of Life and watched the Unions Grow and then start to lose Ground.

I liked harry Bridges and what he did. I did not and do Not think we should have Public Employees asUnion Groups.

It would be a shame to have a WalMart Union or a Cutting Horse Group as a Union,

What we must do is Bring back Honor, Common Sense and Caring for each other instead of DOPE, SEX, and GREED!

Skeet- we disagree again....

thebajarunner - 5-10-2012 at 03:55 PM

Quote:

[
What we must do is Bring back Honor, Common Sense and Caring for each other instead of DOPE, SEX, and GREED!

DOPE and GREED are definitely out, you bet.

But SEX????
SEX????????

Come on, my man, that one definitely needs to stay in (so to speak)

DavidE - 5-10-2012 at 03:57 PM

What we really need Skeet, is a NON-need for unions.

mtgoat666 - 5-10-2012 at 04:18 PM

Quote:

Originally posted by DavidE
What we really need Skeet, is a NON-need for unions.

as long as the 1% oppress labor, you will have need for unions, eh?

Cisco - 5-10-2012 at 04:19 PM

Quote:

Originally posted by DavidE
What we really need Skeet, is a NON-need for unions.

That would be the epitome, yes. I can visualize it and the World would be better.

But that's not happening. OWS whatever you think of it is/was an attempt to pull people together much like a union, and the police state put it down, hard and fast.

I think that ANY attempt at cohesion among the 'masses' will be dealt with quickly and harshly by the police state we Americans now live in.

mtgoat666 - 5-10-2012 at 04:21 PM

Quote:

Originally posted by Skeet/Loreto
What we must do is Bring back Honor, Common Sense and Caring for each other instead of DOPE, SEX, and GREED!

and as long as you have greed in the 1% and increasing income inequality, you will have need for unions, eh?

dope and sex are about all the 99% have after the greedy 1% strip away everything else! :fire:

Skeet/Loreto - 5-10-2012 at 04:38 PM

But Why do People put so much on SEX and DOPE when they have:

Yosemite, Olympia Penn, Montana Streams, Texas Plains, Arizona Deserts, Jackson Hole Skiing, Airplanes to jump out of, Baja 's Sea of Cortez, Hiking the Sierras, Texas Palo Duro Canyon and so many things including the RattleSnakes of Sweetwater Texas!!!!!

mcfez - 5-10-2012 at 04:47 PM

Quote:

Originally posted by Skeet/Loreto

But Why do People put so much on SEX and DOPE when they have:

Yosemite, Olympia Penn, Montana Streams, Texas Plains, Arizona Deserts, Jackson Hole Skiing, Airplanes to jump out of, Baja 's Sea of Cortez, Hiking the Sierras, Texas Palo Duro Canyon and so many things including the RattleSnakes of Sweetwater Texas!!!!!

Now I understand why this guy is all uptight. Get laid Skeet. Be happy.

Cisco - 5-10-2012 at 05:04 PM

Quote:

Originally posted by Skeet/Loreto
But Why do People put so much on SEX and DOPE when they have:

Yosemite, Olympia Penn, Montana Streams, Texas Plains, Arizona Deserts, Jackson Hole Skiing, Airplanes to jump out of, Baja 's Sea of Cortez, Hiking the Sierras, Texas Palo Duro Canyon and so many things including the RattleSnakes of Sweetwater Texas!!!!!

Because they have none of those things Skeet.

Because they will never have any of those things and they know that.

Because the only way they have to get away from the terrible pain they are experiencing is to get out of it.

Endorphins or chemically induced consciousness will do that for you, for just a moment's respite from this horrible place they are trapped in, our limited, cannibalistic, society.

Barry A. - 5-10-2012 at 05:20 PM

Cisco -----"99%" can't visit National Parks????? WHAT are you talking about??

I look around my town and see prosperity, for the most part, and the unemployment in Redding, CA is about 14% right now (and it was similar before 2007). Even at "14%" that still leaves 86% with jobs and/or incomes, and they seem to be doing pretty good.

Me thinks you are exagerating!!!!

I'm with Skeet on this one.

Barry

Cisco - 5-10-2012 at 05:46 PM

Quote:

Originally posted by Barry A.
Cisco -----"99%" can't visit National Parks????? WHAT are you talking about??

I look around my town and see prosperity, for the most part, and the unemployment in Redding, CA is about 14% right now (and it was similar before 2007). Even at "14%" that still leaves 86% with jobs and/or incomes, and they seem to be doing pretty good.

Me thinks you are exagerating!!!!

I'm with Skeet on this one.

Barry

You are naive Barry, travel the U.S. and look around; glad Redding is doing well.

I am not referring to the 99% Barry, only part of them.

I am referring to the ones who have no hope, who cannot afford to visit or pay the fee for a national park visit. Who do not have the fuel money to get away from wherever they are. Who do not have a vehicle.

I am also referring to those people, generally young, who come to our beach city and get totally wasted on drugs, alcohol and back-seat balling on the week-end just so they can get up enough to go to a dismal, non-fulfilling dead-end job for a week so they have the money to get fouled-up again the following week-end.

These 86% with jobs or incomes in your area have enough disposable income to take off for two weeks or a month a year and visit the parks, enjoy a hotel room, pay $100+ for a single Sea-World entrance ticket? I doubt it. They are hanging on I believe. That’s what all the economic indicators and my traveling show me, glad you see a different vision. It’s a quality of life issue and it sure as hell isn’t happening in SoCal.

Barry A. - 5-10-2012 at 06:03 PM

Cisco----------Those folks you refer too have ALWAYS been with us, for reasons I cannot comprehend, and what I really don't understand is why they have no gumption. When I was their age (+ or -) I had no money for gas, etc. either, but I got a job (actually I had 23 jobs before I finally settled on one that I stuck with) and managed to get by, and was reasonably happy. I even got married and had 2 kids, which meant that I had to have 2 jobs simultaniously, and go to College in my spare time (and I graduated)------and my wife did NOT work as she was taking care of the kids.

As I said before, I am with Skeet on this one!!! Today's kids are so spoiled, and I spread the blame around------bad parenting, bad media-whining gloom and doom victim senarios, but most of all the Liberal mind-set that sets up most of these kids for victim-mentality and failure before they even start. We get what we sew, and now it is staring us in the face!!!! Thank Gawd there are a few kids that see the light and are prospering (my 4 kids and 2 grown grandkids) and believe me I feel really lucky, but a little smug too for setting them up to succeed.

Like Skeet, I am disgusted with the rest that can't figure out how to prosper in a Nation that gives them so much opportunity!

Naive indeed?!?!?!?!?

Barry

vandy - 5-10-2012 at 11:02 PM

Quote:

Why on earth are "Sex and Dope" exclusive of these wonderful places?
For that matter, a little "Rock 'n' Roll" would enhance the experience for some...
Anybody up for a Rattlesnakes Rave?

chuckie - 5-11-2012 at 04:07 AM

And all of this has what to do with the Peso?

vandy - 5-11-2012 at 06:46 AM

13.5 pesos per US dollar today...
If this keeps up, maybe gas will be cheap before they raise the price again.

Skeet/Loreto - 5-11-2012 at 06:55 AM

I dont know Chuckie.

I was trying to get across that you can get your Kicks from other things besides DOPE.

I got my kicks for awhile out of making sure I beat the peso Devalue and with drew my Dollars from the Mexican Account. That wasx Fun to Me!
Just like it is Fun for me to Fish, Go to Yopsemite and watch the Lighting Strikes off of HalfDome, Fly and Aircraft with a Valid Certificate, love Dogs Cats and horses!

Hey any body need a Job, Just announced a Plant opening near Hereford Texas{40 miles west of Amarillo) needing at least 100 Workers.
Also our unemployment is down a 7 and has been that way most of the time.

DavidE - 5-12-2012 at 12:02 AM

Guillermo Ortíz 101 -

"Wait until the pressure on the peso eases then inject one hundred to three hundred million dollars buying pesos then wait until the end of the day to see how currency markets reacted"

According to Wall Street & CME the peso "has been flat" for the last two trading sessions. If Banco de México proves predictable, look for a move on Monday 05-14 @ 0600 PDT. The timing is considered to be "good form" so as to lessen the appearance of what really takes place. Doing it on a Friday gives the appearance of trying to calm things down by foaming the runway.

mcfez - 5-12-2012 at 06:20 AM

Quote:

Originally posted by chuckie
And all of this has what to do with the Peso?

The cost of Skeet's medical mental care and a little dope for the week ends?

chuckie - 5-12-2012 at 06:30 AM

I guess, I still dont see any connection. I researched new business in Hereford Texas through the economic development people and the newspaper and couldnt find any new employer. The areas median wage is about 33% less than the state average..none of which has anything to do with the subject of the thread. It does seem clear that there is a continued erosion of the value of the peso....I wonder if it has any connection to the fact that this is an election year in Mexico? I havnt had a peso account for years and wont..I got burned once, thats enough...

DavidE - 5-12-2012 at 09:17 AM

Chuckie, you can bet your bippie that the fact that this is an election year and historically what that has meant for the fate of the peso. Mexicanos are cynical for good reason: The wealthy try to screw each other as well as anyone else they can get their mitts on. The poor still pass by the huge mansion "La Casa de Perros" and bark "Gaow Gaow" at the memory of Portillo's infamous bluster (defending the peso "like a dog").

But the cruelest bitter joke of all was that bald short egotistical @#$%^&*!! who instituted "Solidaridad" while dismantling ejidos, and cooperativas and the conasupo, whispering promises of hope to the poor while his brother looted Mexico of hundreds of millions of dollars (quoting Raul Salinas) "Wise Investments" and hiding everything in a Swiss banking system.

"The Christmas Surprise" December 22, 1994.

Who would not be cynical?