And The Noose Tightens; New Import Dollar Restrictions

[GS_Dirtboy]

The government has tightened it's control over the purchases of foreign currency on the wholesale market. Previously, purchases of over U$300.000 required advanced reporting. That has been lowered to U$150.000.

BA Herald story here: http://www.buenosairesherald.com/article/169362/new-us$-limits-for-importers

This affects primarily large importers who use U$ to effect transactions. However, the signal should be clear to everyone. As the Dollar reserves drop there will continue to be more restrictions like this, unfortunately.

Enjoy your day.

GS

 

[fred mertz]

Wow ! Does this mean that every time we go to the U.S.A. (aka EEUU), we will no longer be limited to bringing back a mere US$10,000.00? Will we be able to bring back US$150,000.00 each time? If so I'm going to get me a bigger backpack.

 

[camel]

Wow ! Does this mean that every time we go to the U.S.A. (aka EEUU), we will no longer be limited to bringing back a mere US$10,000.00? Will we be able to bring back US$150,000.00 each time? If so I'm going to get me a bigger backpack.

$150k isn't as bulky as you'd think, if it's in 100 dolla bills. It would fit in a small backpack, even a daypack.

 

[ajoknoblauch]

Wow ! Does this mean that every time we go to the U.S.A. (aka EEUU), we will no longer be limited to bringing back a mere US$10,000.00? Will we be able to bring back US$150,000.00 each time? If so I'm going to get me a bigger backpack.

My understanding is that there has never been a US$10,000 limit. You have always been obligated to declare anything above that amount.

 

[ghost]

Wow ! Does this mean that every time we go to the U.S.A. (aka EEUU), we will no longer be limited to bringing back a mere US$10,000.00? Will we be able to bring back US$150,000.00 each time? If so I'm going to get me a bigger backpack.

$150K is a stack of 100s about 8" high. Yup that's it

 

[Hybrid Ambassador]

Declaring your honest cash or loot, at the custom is all OK but, will you be safe getting out of the Airport ?

 

[GS_Dirtboy]

The signal is significant. Anything operation that allows Dollars to flow out of the country is a target.

 

[ajoknoblauch]

The signal is significant. Anything operation that allows Dollars to flow out of the country is a target.

For the next year or so...

 

[GS_Dirtboy]

For the next year or so...

No, not really. The next pro- "Business / EEUU / Free Market / whatever" government isn't going to magically show up with some extra U$50Bn. The core issue in Argentina is that it doesn't produce anything - except soy and beef. They pay a LOT for energy imports and bond payments - in Dollars. The Dollar reserves are dropping. And what if Cristina et all is re-lected? I'm not counting her or her team out of the next election by any means. If she gets a big "win" against the Vultures her popularity will rise quickly.

What is going to happen in a year that is going to be such a lifesaver?

 

[dennisr]

What is going to happen in a year that is going to be such a lifesaver?

US and European economies will experience a total collapse and the world's preferred reserve currency shall become the AR peso or Venezuelan bolivar.
Nothing to this sh*t Santini.