steveinbsas
Registered
- Joined
- Jul 27, 2006
- Messages
- 11,049
- Likes
- 7,421
I just checked WU and the rate is still 1,514. Based on similar circumstances in the past, it may be adjusted down by 3 or 4pm.And the blue is back down 4%
Argentina blew $1 billion in two days to fend off devaluation
- Thread starter Caribbean Cool
- Start date
Caribbean Cool
Registered
- Joined
- Jul 19, 2019
- Messages
- 1,078
- Likes
- 774
And the blue is back down 4%
Caribbean Cool
Registered
- Joined
- Jul 19, 2019
- Messages
- 1,078
- Likes
- 774
Yes the blue is down but the spread is now the widest between the bank dollar. Seems the blue doesn't have confidence in the new deal.
A vicious cycle, almost everything that happens is bad for the Arg. peso. The Peronist Fuerza Patria cruised to victory with an ample margin against President Javier Milei’s La Libertad Avanza (LLA) in Sunday’s Buenos Aires. (Sept.7th)
The Peronist (Much better of 2 bad choices IMO) victory in Buenos Aires is another nail in the foreign investment coffin which intern adds fuel to the devaluation of the Peso. China fights with the USA and sends ships full of Argentine Soy back to the Argentina saying it is actually from the USA, maybe it was but give a country on it's knees a friggin' break, please.
The Peronist (Much better of 2 bad choices IMO) victory in Buenos Aires is another nail in the foreign investment coffin which intern adds fuel to the devaluation of the Peso. China fights with the USA and sends ships full of Argentine Soy back to the Argentina saying it is actually from the USA, maybe it was but give a country on it's knees a friggin' break, please.
steveinbsas
Registered
- Joined
- Jul 27, 2006
- Messages
- 11,049
- Likes
- 7,421
Do you have any links to articles that agree that this is factually correct? I posted a YouTube video about this on May 12th. I don't think any other members indicated that they believed that the video was accurate and, in a post made on May 25, someone suggested that I find a better source.
This is very important to me. YouTube is my primary (and almost only) source for news and entertainment. If not for YouTube, I might never have become convinced that the moon landings were a hoax, the mRNA vaccines were safe and effective, or that Oswald acted alone.
mrfriendly
Registered
- Joined
- Oct 16, 2016
- Messages
- 90
- Likes
- 76
LuckyLuke
Registered
- Joined
- May 17, 2024
- Messages
- 870
- Likes
- 1,435
It is common for private investors to dollarize holdings during key elections as a hedge. For this reason, I expect blue will remain more elevated.
Though Milei has made progress stabilizing the peso, the thorn in his side continues to be this:
Net foreign reserves have not recovered for a myriad of past and current issues. IMO, no matter how much blood Milei can squeeze from a stone to generate a fiscal surplus, there's simply not enough surplus to negotiate congressional/popular support, pay down public debts and boost foreign reserves at the same time. The IMF meanwhile is standing on the sidelines dangling carrots hoping Milei can thread the needle between the dangers of popular uprising on one side and market destabilization on the other.
Though Milei has made progress stabilizing the peso, the thorn in his side continues to be this:
Net foreign reserves have not recovered for a myriad of past and current issues. IMO, no matter how much blood Milei can squeeze from a stone to generate a fiscal surplus, there's simply not enough surplus to negotiate congressional/popular support, pay down public debts and boost foreign reserves at the same time. The IMF meanwhile is standing on the sidelines dangling carrots hoping Milei can thread the needle between the dangers of popular uprising on one side and market destabilization on the other.
