Devaluation

[Redbeanz]

lets see what happens. I am very worried.

Ceviche, please elaborate?

 

[ghost]

lets see what happens. I am very worried.

Don't worry, be happy.

 

[Gringoboy]

Everything's under control, so don't panic.
Pretty sure the captain of a famous ship said that at one time.

 

[dennisr]

I just had a conversation today with someone with some pretty good contacts. According to him, the news is that after the August primaries, and assuming Scioli does well as expected, the peso will be devalued somewhat more than the .05 per week or so it has been going. Then there is a debt payment, I believe in October(?) that is going to eat up a bunch of reserves (and not this pie-in-the-sky $30B+ number) which will make the dollar even more valuable. Talk is around 20-1 by the end of the year. I don't know, personally, if it would get that high but how lovely if it did.

Admittedly, I was surprised this year at the vehemence with which Cristina attacked the blue dollar, but I don't think we'll see devaluation of the dollar blue any time soon. Although I could be wrong, I sure hope not.

http://www.iprofesional.com/notas/216656-Aviso-de-vencimiento-el-Boden-15-obliga-a-pagar-us6500-M-y-el-costo-oculto-es-ms-paos-fros-a-la-economa

 

[Joe]

Ceviche, please elaborate?

He bought a shit load of Boden Bonds.

 

[thorsten]

He bought a shit load of Boden Bonds.

Does that already make him a vulture or only later when he expects to get the bond paid back?