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DENNIS
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Peso is being sucked into the vortex
WOW. When will it stop? It just went down to 15.10 to one. The worst thing they could do is freeze it again. Nobody will invest in a country which
won't deal with the true value of its money.
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Diver
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Good points, Dennis.
I'm afraid that the sh-t has not yet hit the fan in Baja/Mexico.
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oldlady
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| Quote: | Originally posted by DENNIS
Nobody will invest in a country which won't deal with the true value of its money. |
Unless it's the United States
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DENNIS
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| Quote: | Originally posted by oldlady
Unless it's the United States |
Oh...yeah. I forgot about that. Hope for Mexico is on the horizon...just over that fence.
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Woooosh
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| Quote: | Originally posted by DENNIS
| Quote: | Originally posted by oldlady
Unless it's the United States |
Oh...yeah. I forgot about that. Hope for Mexico is on the horizon...just over that fence. |
The pesos isn't dropping becuase of internal problems (yet)- the dollar just got stronger across the board.
Mexico has no shame. They will be at the border with their hands out- begging for more billions to keep the peso propped up. But the problem isn't a
weak peso or euro- it's a stronger dollar. The USA is too busy to answer the phone. They should be begging the Chinese.
The dollar is king once again- everyone is turning to the dollar (or gold). A few months ago countires were talking about switching to the Euro as
their standard, even OPEC discussed it- no mas. When it all hits the fan- people turn to the USA. No one else can be trusted and the world knows it.
\"The only thing necessary for the triumph of evil is for good men to do nothing\"
1961- JFK to Canadian parliament (Edmund Burke)
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vandenberg
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| Quote: | Originally posted by DENNIS
Nobody will invest in a country which won't deal with the true value of its money. |
Dennis,
That statement brought a smile to my face, especially coming from you.
And Oldlady's response was right on the money.
But, the new Messiah will correct all that.
Just hope that I won't make that tax bracket where my taxes go up.
Was worried about having to learn Mandarin, but looks like that threat is over. Lots of toddlers out of work over there.
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gnukid
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With the changing peso people should also be aware of rapidly increasing issues with prices changing in an unfair manner, the best precaution is to
know the price for things, do the math yourself and only pay the correct price as opposed to handing over extra and expect change. For example, in CCC
Colima I shopped as normal and when I got to the register I noticed I was overcharged on about 5 items resulting in a bill about 10-20% higher than
the listed prices. When I brought it to the attention of the cashier she said in spanish, "oh well I can't do anything about, I am only an employee
and its the practices of the manager running the computer." Of course, when I said well you'll need to charge to the correct prices on all items she
said "oh I can not". Of course, I eventually got the correct prices charged after a wait.
In a certain Marina in La Paz where they do boat repair one brother is known lately for quoting a price and charging significantly more and refusing
to drop the boat in the water until the increased price is paid... He has very few customers but the ones who do happen to waltz in are duly
overcharged by 3-4 times the quote.
A Marine shop on 5th of February has 2 prices listed, dollars and pesos and then chooses prices even higher, plus importation fee and iva when you
buy. That's a shop worth skipping.
The point is there are many people in this time using whatever method possible to heavily overcharge on even fewer customers. It's up to you to bring
pesos, pay attention and pay the correct amount and be prepared to wait out the stand-off or leave when the time to pay comes. Don't get mad, just
leave. It'll save you quite a bit of money. And you should be sure to not return to stores which overcharge and warn your friends. Its getting pretty
crazy out there.
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k-rico
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14.91 at a Santander ATM in TJ this morning.
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DENNIS
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For those who don't have it at their fingertips, here you go:
http://finance.yahoo.com/currency-converter?amt=1&from=U...
OOOOPS...Just change the currencys and bookmark it and it will stay where it belongs, dollars to pesos.
[Edited on 2-27-2009 by DENNIS]
[Edited on 2-28-2009 by BajaNomad]
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Bajahowodd
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Our IOUs are staggering. The recently announced budget will result in even more debt. So what does it say for the state of the world, when the seek
refuge in our currency? Sure the Euro has tanked. $1.27 today. But are there any economist/ genuises out there who can 'splain to me how the Pound
($1.434) remains so strong?
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Woooosh
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| Quote: | Originally posted by Bajahowodd
Our IOUs are staggering. The recently announced budget will result in even more debt. So what does it say for the state of the world, when the seek
refuge in our currency? Sure the Euro has tanked. $1.27 today. But are there any economist/ genuises out there who can 'splain to me how the Pound
($1.434) remains so strong? |
Because the USA and GB are best buddies, and always will be, is the only reason.
\"The only thing necessary for the triumph of evil is for good men to do nothing\"
1961- JFK to Canadian parliament (Edmund Burke)
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Bajahowodd
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I guess that's good enough to take to the bank.
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Dave
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What Pound?
| Quote: | Originally posted by Bajahowodd
But are there any economist/ genuises out there who can 'splain to me how the Pound ($1.434) remains so strong? |
I thought everyone was on the Euro.
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sylens
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nope
the brits are hanging on to their pounds.
lili
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vandenberg
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| Quote: | Originally posted by sylens
the brits are hanging on to their pounds. |
Lots of them, litterally.
And some to their teeth also.
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flyfishinPam
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bancomer.com was down for a couple of hours and I checked several times cuz I wanted to pay off the telephone bills. its back up and I just exchanged
dollars at 15.03 to 1 !
can somebody please enlighten me on why the dollar is so strong against pretty much every world currency?
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oldlady
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The US is, for now, the best house in the slum.
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David K
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| Quote: | Originally posted by oldlady
The US is, for now, the best house in the slum. |
Well put!
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Woooosh
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| Quote: | Originally posted by oldlady
The US is, for now, the best house in the slum. |
pretty much. The world stage loves to hate the USA just for that reason. Love us or hate us, we can get the job done. So can the Brits. One weak
country in the Eurozone and the Euro is done for. Dollars or gold- two of the best bets.
Our achilles heel is now the Chinese- who own our debt. Of course we could always play the game by their rules and just tear the notes up and move
on.
\"The only thing necessary for the triumph of evil is for good men to do nothing\"
1961- JFK to Canadian parliament (Edmund Burke)
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Bajahowodd
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I agree. But we're runnin' on empty. I'm guessing that other countries are working off of history and memories. Since WWII, we have been top dog
financially. I suspect that if the Euro had a much longer history, it might be giving us a run for our money (pun intended).
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