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wiltonh
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Inconvenient Debt - Glenn Beck
What effect will the US printing money have on the exchange rate?
http://www.youtube.com/watch?v=lNS8IY_Td14
Wilton
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wessongroup
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Good question
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BajaGringo
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Probably depends on which country prints more...
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Santiago
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Please take this to Off Topic where I know of at least one person who will happily provide you with an answer.
Thank you
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wiltonh
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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
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woody with a view
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| 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....
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DianaT
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| 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.
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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.
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ELINVESTIG8R
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Bajahowodd
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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.
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oldlady
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The only thing greater than American gullibilty is American debt. Now, answer the man's question about the peso....that's the topic here.
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Santiago
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| 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.
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Bajahowodd
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With All Due Respect
| 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.
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I think I did.
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oldlady
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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]
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Santiago
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| 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"
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woody with a view
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SS?
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oldlady
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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]
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woody with a view
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| 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!
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monoloco
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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.
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tripledigitken
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Seems some "dangerous talk" from last night got erased.
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ELINVESTIG8R
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Thank God because I like this better
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