Argentines start bringing their money home

perry

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Today in the Buenos Aires Herald Page 7 there is a very interesting article about the flood of money entering Argentina in the last few days from overseas sources mainly Argentine nationals bringing their money home .

This is an interesting development as its clear that they consider Argentina safer than Europe and the USA to keep their monies. There is over 100 billion of Argentine monies invested overseas.

The money exchange houses have in many cases tripled their rates for this service and the flood of money continues.

What does all this mean? I like to hear peoples opinions on this subject.
 

Fishface

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means they are going to get taxed heavily.

the hope will be that they will buy properties and inflate the market.

yey! says the crowd.
 

tangobob

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Sounds like the escribanos and bankers are going to make a killing.
Not forgetting the estate agents who already charge three times more than they do in the UK
 

criswkh

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I think most banks are unsafe right now. A bunch of our Argentina friends are hiding their money. Yes, they took it out of overseas accounts. Buy some gold if you can.
 

soulskier

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I heard Mexico wants to finish the border fence now to keep the American migrant workers out!
 

tangobob

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:D
soulskier said:
I heard Mexico wants to finish the border fence now to keep the American migrant workers out!

:):):)You kill me, keep it up.
 

ricardo9000

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soulskier said:
I heard Mexico wants to finish the border fence now to keep the American migrant workers out!

The term 'wetback' will expand it's meaning to cover more types of economic 'migrants',... as an Argentinian I would wellcome north Americans here, but I'm not sure about the Spaniards from Spain:)
 

ricardo9000

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pericles said:
Today in the Buenos Aires Herald Page 7 there is a very interesting article about the flood of money entering Argentina in the last few days from overseas sources mainly Argentine nationals bringing their money home .

This is an interesting development as its clear that they consider Argentina safer than Europe and the USA to keep their monies. There is over 100 billion of Argentine monies invested overseas.

The money exchange houses have in many cases tripled their rates for this service and the flood of money continues.

What does all this mean . I like to hear peoples opinions on this interesting subject.

Hi Pericles, I'm one of those Argies. But my money will remain in an Australian bank for now.
Being away for 35years & returning takes a bit of adjustment in language/culture/life style etc, but it's refreshing & exciting & I can see so many business opportunities in spite of all the bureaucratic time waste.

Argentina's economic problems seem to be more about lack of law & order/discipline than anything else. In time I'll see if I want to live here permanently but I feel optimistic for now.
 
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