Blanqueo de capitales

[gringoexpress]

Los detalles sobre el blanqueo de capitales y otras definiciones claves de Luis Caputo

El ministro de Economía aseguró que “el que ingrese sus dólares al sistema bancario argentino no va a pagar nada”; “Las cuenta fiscales quedarían en orden” porque habría un aumento de la recaudación, según afirmó

www.lanacion.com.ar

- “Las personas que tengan dólares en el colchón, caja de seguridad o tengan la plata afuera no van a pagar nada si ingresan sus dólares al sistema bancario argentino”.

All that money that has been sitting under mattresses or in exterior accounts is going to be allowed back in without penalty, and, presumably, without having to justify where it came from. This means dollars in general, and not necessarily dollars owned by Argentinians. A logical destination for a lot of this money is the real estate market, where prices are currently artificially suppressed due to the logistic difficulties of getting actual cash dollars into the country. There's a hell of a lot of dollars sloshing around the world right now, and less and less demand for them every day. For those stuck with USD and not bullish on the future of the US, suddenly, there's a new place to get rid of them in exchange for something of value.

Anyone who was thinking of buying here in Argentina may want to get their purchase underway sooner instead of later.

 

[SinPulgas]

Los detalles sobre el blanqueo de capitales y otras definiciones claves de Luis Caputo

El ministro de Economía aseguró que “el que ingrese sus dólares al sistema bancario argentino no va a pagar nada”; “Las cuenta fiscales quedarían en orden” porque habría un aumento de la recaudación, según afirmó

www.lanacion.com.ar

- “Las personas que tengan dólares en el colchón, caja de seguridad o tengan la plata afuera no van a pagar nada si ingresan sus dólares al sistema bancario argentino”.

All that money that has been sitting under mattresses or in exterior accounts is going to be allowed back in without penalty, and, presumably, without having to justify where it came from. This means dollars in general, and not necessarily dollars owned by Argentinians. A logical destination for a lot of this money is the real estate market, where prices are currently artificially suppressed due to the logistic difficulties of getting actual cash dollars into the country. There's a hell of a lot of dollars sloshing around the world right now, and less and less demand for them every day. For those stuck with USD and not bullish on the future of the US, suddenly, there's a new place to get rid of them in exchange for something of value.

Anyone who was thinking of buying here in Argentina may want to get their purchase underway sooner instead of later.

To not pay anything, the dollars have to enter into the banking system. There are no details yet about how that will work. (How long they will have to stay in the system, etc.) They also say that if you take dollars out of the banking system, you'll have to pay 5%. Who knows what that means? Which dollars? During what time? etc.

In any case, it doesn't look like you can just buy houses with undeclared money without paying something, but we'll see.

 

[grosso95]

Can't you already buy undeclared pretty much? Anything under 100k doesn't raise too many eyebrows and people declare a different sale price anyways.

 

[Reply Guy]

Los detalles sobre el blanqueo de capitales y otras definiciones claves de Luis Caputo

El ministro de Economía aseguró que “el que ingrese sus dólares al sistema bancario argentino no va a pagar nada”; “Las cuenta fiscales quedarían en orden” porque habría un aumento de la recaudación, según afirmó

www.lanacion.com.ar

- “Las personas que tengan dólares en el colchón, caja de seguridad o tengan la plata afuera no van a pagar nada si ingresan sus dólares al sistema bancario argentino”.

All that money that has been sitting under mattresses or in exterior accounts is going to be allowed back in without penalty, and, presumably, without having to justify where it came from. This means dollars in general, and not necessarily dollars owned by Argentinians. A logical destination for a lot of this money is the real estate market, where prices are currently artificially suppressed due to the logistic difficulties of getting actual cash dollars into the country. There's a hell of a lot of dollars sloshing around the world right now, and less and less demand for them every day. For those stuck with USD and not bullish on the future of the US, suddenly, there's a new place to get rid of them in exchange for something of value.

Anyone who was thinking of buying here in Argentina may want to get their purchase underway sooner instead of later.

Agreed that you want to have dollars in some type of appreciating asset and/or yielding asset, but what makes you say there is less and less global demand for the dollar? DXY has been holding up pretty well.




I see a similar scenario that happened under Macri. Blanqueo -- lots of dollars flow back into Argentina. Assets of all types go up in price. A couple years later optimism wears off, and a sell off happens. I'm playing this with ADRs. Real estate probably works too, but more of a hassle in my opinion.