Argentinian Peso 3.20 to the USD Today

DA

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Good news for expats and tourists, will it hit 3.50 by the end of the year???
 
Just want to say that not all expats live on the dollar...
 
The reason the dollar is relative gaining strange compared to other fiat currencies is a paradox right now...

First some things you need to be awear of:

The dollar is the worlds reserve currency, still...

What many foreign banks have done is to convert many of it's dollar reserves to american-quasi-debt-investment-hustle that turns out not to be worth so much....

When foreign people take out their dollar money in foreign banks, the foreign banks need to buy this dollar in the currency market and try to sell their american-quasi-debt-investment-hustle. That's the main reason for the bailout, the american taxpayers are buying back the bad debt....

The result of this is greater demand for the dollar, that drives the dollar price UP.....

This will last for a finite time, when trust in the dollar is gone, things start to get more ugly/fun...
 
Don't forget about the hedge funds and the leverages..along with market distortions...when that comes apart it will go down again. I just wish the inflation here would stop a little...my pesos don't go as far anymore.
 
All things point to that the dollar should be worth less and it will in the future, but right now it's the world central banks that are the main influence on the price of the dollar, but next week it could be different :)
 
How come the Euro is falling instead of holding steady?

If we have a few dollars in a bank in the US, what would you all suggest would be a prudent currency to convert them into?
 
Napoleon said:
How come the Euro is falling instead of holding steady?

If we have a few dollars in a bank in the US, what would you all suggest would be a prudent currency to convert them into?

I would spend them while they are still worth something:), but then again the whole civilised world seems to be out of wack so maybe the dollar will be as worthless or strong as other currencies. Keep it in the USA would be my suggestion.
 
Maybe the dollar will have less worth after this 700 billion dollar government bailout? I am no economist but i imagine that a sudden cash injection into the system of 700 billion dollars would have a similar effect to those certain countries that endlessly print out money leading them to hyperinflation. Surely it could lead to the same in the US with this huge bailout?
 
Yen could be a good choice. Japanese or Chinese or maybe Argentina Peso, but kept in a local bank not a foreign bank operating in Argentina.
 
Smartypants said:
Yen could be a good choice. Japanese or Chinese or maybe Argentina Peso, but kept in a local bank not a foreign bank operating in Argentina.

What about "kept under the mattress"?

Or in a Wall Safe like so many do in Recoleta.
 
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