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Dollar controls getting stricter
- Thread starter sesamosinsal
- Start date
Sure she is.... Behaving like she was a Benito Mussolini's granddaughter...Who the hell she thinks she is?
Actually politically she is in the opposite pole of that, also the idea is to reverse that black market tendency. The disastrous and incarnated argentine culture of buying dollars at the slight occasion that the monopolistic controlled media start to agitate the fear flag people rush to buy dollars like they are buying pure 24 carats gold, the damn idiots, it's like an incurable cancer and as such it should be operated and extirpated once for all. I'm glad they are doing at last something about this, it was long overdue.
No one do this thing in any country but Argentina, this is also highly regulated in a developed country by law and is not permitted in any circumstances dealing in other currency but the legal tender of that country. As all you know in others countries you can't buy physical gold or make any transactions in other currency but the country's, but here it's like nothing happens, how come?, how can be such stupidity went along for such long time and without any intervention or control from the government?...Now because they are starting to intervene and control it that is raising some feathers in those corrupted corporations and individuals used in dealing in such unpatriotic and unfair activities as expected they don't like it very much therefore they cry as mad at every opportunity...well, f@&* them.
Actually politically she is in the opposite pole of that, also the idea is to reverse that black market tendency. The disastrous and incarnated argentine culture of buying dollars at the slight occasion that the monopolistic controlled media start to agitate the fear flag people rush to buy dollars like they are buying pure 24 carats gold, the damn idiots, it's like an incurable cancer and as such it should be operated and extirpated once for all. I'm glad they are doing at last something about this, it was long overdue.
No one do this thing in any country but Argentina, this is also highly regulated in a developed country by law and is not permitted in any circumstances dealing in other currency but the legal tender of that country. As all you know in others countries you can't buy physical gold or make any transactions in other currency but the country's, but here it's like nothing happens, how come?, how can be such stupidity went along for such long time and without any intervention or control from the government?...Now because they are starting to intervene and control it that is raising some feathers in those corrupted corporations and individuals used in dealing in such unpatriotic and unfair activities as expected they don't like it very much therefore they cry as mad at every opportunity...well, f@&* them.
The exchange and the communication battle.
The health of Argentina's economy has just started a battle against one of its most formidable rivals:
The fear of devaluation.
Fear is a question of expectations: they fear what is supposed to happen.
What could happen or not. But in the moment before, the "fear of that becoming a reality", determines the policies and attitudes. Those who feed the fear, speculators and traders who would benefit from various devaluation, are seeking precisely that: "intimidate by fear" so the government will have to change course and accept if only "a little shift" to push the dollar up.
And look also to generate in ordinary people a sense of "it" to which it is feared, that the devaluation finally is going to happen, so that ordinary people go out and spend their savings and look for what hasn't have (ie taking debt) and buy dollars "to cover themselves in case the worst is to come"
So far, on the first, those who feed fear have failed in twisting the Government's policy, but have achieved some success in the second instance, e.g. generating the feeling that "something is going to happen" in the exchange market.
(Remember postings like this in this forum just before and after the elections?). That's how they operate.
There are two fights that are held in separate rings, but they are interrelated. The Government is fighting on both fronts at once. For years, it had a firm policy of supporting a high dollar value, that would help encourage the export profile of the country, yet with a modest increase, in order not to cause a windfall in export sectors that represent a transfer of resources and their behalf at the expense of the rest of society.
As this policy resulted in an increasingly positive trade balance (export dollar inflows higher than the output for imports), the firepower of central bank reserves also grew. That managed to maintain its policy in any circumstances even in the face of excess demand in the foreign exchange market, the Central solved with more supply of dollars, selling as far as the market required them.
In recent weeks, compared with an unusual and sustained excess demand for dollars in the local exchange market, the Government and the monetary authority had to review its policy. It was not enough with the "market operations" of BCRA (out to sell when the market had "a buyer option" to compensate), because there was a circuit to detect a that "black market" that bought dollars in the market to sell at more expensive to a third party, whom they could not poke their noses into the free market, for its history or because the obscure origins of their earnings, but now intend to spend their profits "by leaking those profits" in dollars out of the country.
From this last week has been initiated in a phased manner a series of measures that seek to control the legality of the operations in the foreign exchange market, and not in changing those rules.
Has been a long time that the field of media can be a battlefield when what is intended to communicate goes against the interests of the owners of large economic corporations, to which the major media groups belong or at least pay some tribute. It happened to Kirchner at the time of the agro-export dispute with the block by the value of taxes on soybeans in 2008. And it could happen again now if you take that lesson and then applies it to current conditions.
The Government faces a battle in the media to report the measures being taken, and that battle is already in sight.
The authorities anticipated yesterday that, starting Monday, the buying of currencies in the system (banks and bureaux de change) will be monitored by the AFIP to verify the financial condition and availability of resources who declare himself the buyer.
But not under the authorized amount or restricted purchasing there still exist the right to purchase foreign exchange to anyone. However, some headlines and comments want to reflect the contrary to this. For example "The AFIP decide who can buy dollars," this is the title cover of one of these media to miss-inform the population. Next, "To buy dollars, we must have authorization from the AFIP" said another of the media of wide circulation. Another, "Disappears single free market changes," alarmed other comments published yesterday..... "Whoever wants to save in dollars does not have official approval and must resort to parallel" deepened the analysis in the same direction.
The funny-maybe not-is that those same notes, lines down, explain the measure, which was announced. "There was no change in the rules, it is true, but tightening the rules," says the same comment as above noted that "removes the single market and free exchange." The medium will be the AFIP titled who "will decide who can buy dollars," he acknowledges that "the most visible change" to the buyer will be that "in addition to the DNI, shall submit the record or CUIL CUIT" that is identified as a contributor .
With this what they want to archive is to exaggerate the impact of the measure, transfigured to make it appear as a tool of state terror, announcing cuts of civil liberties, or simply present it as a desperate and futile action of the Government, if only in its presentation but certainly not be sustained in the development of the news, look for a single purpose: to generate fear, the expectation that "has been the devaluation."
Of course, this fear has a combined effect, because on one side seeks to wear down the government's intention to keep under control the foreign exchange market, and the other is to produce in most people the opposite reaction to waiting for the government: and on that they run out and buy dollars. Speculators pro-devaluacionistas operators are seeking to force the people to do now what they did before: put buying pressure in the foreign exchange market and seek to force a devaluation.
The government is then faced with a double front line: speculation in the exchange market buying pressure that puts foreign exchange and the media frenzy that the Government is aware of the turtle exchange. It is not easy to resolve, but surely the key to how to deal with this is good communication. The Government was not in "the battle of withholding" and it took two years to overcome that politically difficult one. these are the considerations that this time should be measured in advance not to miss the strategy.
By Raúl Dellatorre
The health of Argentina's economy has just started a battle against one of its most formidable rivals:
The fear of devaluation.
Fear is a question of expectations: they fear what is supposed to happen.
What could happen or not. But in the moment before, the "fear of that becoming a reality", determines the policies and attitudes. Those who feed the fear, speculators and traders who would benefit from various devaluation, are seeking precisely that: "intimidate by fear" so the government will have to change course and accept if only "a little shift" to push the dollar up.
And look also to generate in ordinary people a sense of "it" to which it is feared, that the devaluation finally is going to happen, so that ordinary people go out and spend their savings and look for what hasn't have (ie taking debt) and buy dollars "to cover themselves in case the worst is to come"
So far, on the first, those who feed fear have failed in twisting the Government's policy, but have achieved some success in the second instance, e.g. generating the feeling that "something is going to happen" in the exchange market.
(Remember postings like this in this forum just before and after the elections?). That's how they operate.
There are two fights that are held in separate rings, but they are interrelated. The Government is fighting on both fronts at once. For years, it had a firm policy of supporting a high dollar value, that would help encourage the export profile of the country, yet with a modest increase, in order not to cause a windfall in export sectors that represent a transfer of resources and their behalf at the expense of the rest of society.
As this policy resulted in an increasingly positive trade balance (export dollar inflows higher than the output for imports), the firepower of central bank reserves also grew. That managed to maintain its policy in any circumstances even in the face of excess demand in the foreign exchange market, the Central solved with more supply of dollars, selling as far as the market required them.
In recent weeks, compared with an unusual and sustained excess demand for dollars in the local exchange market, the Government and the monetary authority had to review its policy. It was not enough with the "market operations" of BCRA (out to sell when the market had "a buyer option" to compensate), because there was a circuit to detect a that "black market" that bought dollars in the market to sell at more expensive to a third party, whom they could not poke their noses into the free market, for its history or because the obscure origins of their earnings, but now intend to spend their profits "by leaking those profits" in dollars out of the country.
From this last week has been initiated in a phased manner a series of measures that seek to control the legality of the operations in the foreign exchange market, and not in changing those rules.
Has been a long time that the field of media can be a battlefield when what is intended to communicate goes against the interests of the owners of large economic corporations, to which the major media groups belong or at least pay some tribute. It happened to Kirchner at the time of the agro-export dispute with the block by the value of taxes on soybeans in 2008. And it could happen again now if you take that lesson and then applies it to current conditions.
The Government faces a battle in the media to report the measures being taken, and that battle is already in sight.
The authorities anticipated yesterday that, starting Monday, the buying of currencies in the system (banks and bureaux de change) will be monitored by the AFIP to verify the financial condition and availability of resources who declare himself the buyer.
But not under the authorized amount or restricted purchasing there still exist the right to purchase foreign exchange to anyone. However, some headlines and comments want to reflect the contrary to this. For example "The AFIP decide who can buy dollars," this is the title cover of one of these media to miss-inform the population. Next, "To buy dollars, we must have authorization from the AFIP" said another of the media of wide circulation. Another, "Disappears single free market changes," alarmed other comments published yesterday..... "Whoever wants to save in dollars does not have official approval and must resort to parallel" deepened the analysis in the same direction.
The funny-maybe not-is that those same notes, lines down, explain the measure, which was announced. "There was no change in the rules, it is true, but tightening the rules," says the same comment as above noted that "removes the single market and free exchange." The medium will be the AFIP titled who "will decide who can buy dollars," he acknowledges that "the most visible change" to the buyer will be that "in addition to the DNI, shall submit the record or CUIL CUIT" that is identified as a contributor .
With this what they want to archive is to exaggerate the impact of the measure, transfigured to make it appear as a tool of state terror, announcing cuts of civil liberties, or simply present it as a desperate and futile action of the Government, if only in its presentation but certainly not be sustained in the development of the news, look for a single purpose: to generate fear, the expectation that "has been the devaluation."
Of course, this fear has a combined effect, because on one side seeks to wear down the government's intention to keep under control the foreign exchange market, and the other is to produce in most people the opposite reaction to waiting for the government: and on that they run out and buy dollars. Speculators pro-devaluacionistas operators are seeking to force the people to do now what they did before: put buying pressure in the foreign exchange market and seek to force a devaluation.
The government is then faced with a double front line: speculation in the exchange market buying pressure that puts foreign exchange and the media frenzy that the Government is aware of the turtle exchange. It is not easy to resolve, but surely the key to how to deal with this is good communication. The Government was not in "the battle of withholding" and it took two years to overcome that politically difficult one. these are the considerations that this time should be measured in advance not to miss the strategy.
By Raúl Dellatorre
Lucas said:No one do this thing in any country but Argentina, this is also highly regulated in a developed country by law and is not permitted in any circumstances dealing in other currency but the legal tender of that country. As all you know in others countries you can't buy physical gold or make any transactions in other currency but the country's, but here it's like nothing happens, how come?, how can be such stupidity went along for such long time and without any intervention or control from the government?...
You dont know what you are talking about. I have a US$, GBP and AUD accounts linked to my NZ bank account. I can buy and sell them freely without any controls. I can deposit cheques in other currencies in them, drawn on banks from other countries.
I can also buy gold. And if i wish have the physical bars delivered to my house, and get the physical notes - but why would I ?.
I know alot of people, just everyday working people, who have purchased US$ or AU$ when the NZ$ has been high and expected to fall. Which it does on a regular basis. No uncommon to have 10% swings in a month.
There is no law what so ever to say i cant purchased items in NZ in US$ or AU$ or arg peso, if the seller is willing to accept that currency. Maybe the only law is that the NZ$ is legal tender in NZ, and as such the gov depts of NZ must accept it for payment, but that doesnt mean anyone else has to.
I have also had multi currency accounts in the UK.
And for the record, i know for a fact you can purchased gold bars in alot of countries - have you ever been to india, singapore, AUE ?????. They even have ATM's the depense gold ingots:
http://whatsuptwin.com/tag/atms-depense-gold-instead-of-cash/
http://www.forbes.com/sites/anthony...nd-jewelry-gold-silver-and-religious-jewelry/
bradlyhale said:Clarin is reporting that casas de cambio are now requesting documentation proving the origin of funds in order to buy dollars. Furthermore, several casas de cambio (Metrópolis, Casa París, and Maguitur were mentioned in the article) are only allowing clients to purchase up to $500 USD.
This, of course, poses a significant problem to those who have to pay rent using dollars. For those coming to Argentina who will not be paying their rental contract up front in dollars, it would be wise to make sure that the landlord will have no problems accepting payment in the ARS equivalent.
Had an incident here last week that bears out this is happening all over the country.
Had to pay a bill in Uruguay with USD. Had to have a check written in USD by the cambio which I picked up several days more than originally promised. When I picked it up there was a lady from AFIP there with clipboard and paper asking all the questions about the check, passport #, etc. Wrote everything down and I left with my measly little $165.00 check.
I am in San Rafael, Mendoza.
Hope you all have purchased some type of precious metals for some backup if you have the financial ability or foresight. Not only here but worldwide we're headed for, as old Duane Eddy would say, "40 miles of BAD road!"
Towncryr
davonz said:You dont know what you are talking about. I have a US$, GBP and AUD accounts linked to my NZ bank account. I can buy and sell them freely without any controls. I can deposit cheques in other currencies in them, drawn on banks from other countries.
I can also buy gold. And if i wish have the physical bars delivered to my house, and get the physical notes - but why would I ?.
I know alot of people, just everyday working people, who have purchased US$ or AU$ when the NZ$ has been high and expected to fall. Which it does on a regular basis. No uncommon to have 10% swings in a month.
There is no law what so ever to say i cant purchased items in NZ in US$ or AU$ or arg peso, if the seller is willing to accept that currency. Maybe the only law is that the NZ$ is legal tender in NZ, and as such the gov depts of NZ must accept it for payment, but that doesnt mean anyone else has to.
I have also had multi currency accounts in the UK.
And for the record, i know for a fact you can purchased gold bars in alot of countries - have you ever been to india, singapore, AUE ?????. They even have ATM's the depense gold ingots:
http://whatsuptwin.com/tag/atms-depense-gold-instead-of-cash/
http://www.forbes.com/sites/anthony...nd-jewelry-gold-silver-and-religious-jewelry/
NO! you can't, and nobody will sell/buy to/from you if not done by means of legal channels you can't buy e.g. 24 carat gold for instance I mean physical on hand, in any place jewelery gold 9-18 carat excepted with the add of the markup prices that isn't the real value by weight, also foreign currency is handled by banks and registered exchange outlets exclusively and under strict control of the central bank, there isn't or even exist a black market in place were you can go and buy foreign currency at your heart content like you do here. No one will ask or demand that you pay the rent or buy and pay a house in a foreign currency, not only it's unthinkable but it's also illegal, and here all that is permitted, how come?. Now here we have a government in place who had the will and power to change all that but the crocks won't let them, this is a war against powerful forces that control the media and financial institutions that won't like this to happen because there is easy money to be made out of their swindle.
I'm no talking about India or any third world countries in Africa or Asia I'm talking and comparing with fully developed countries in the 1st world (whatever that means). These third world countries have their own problems and circumstances according to their cultures, I'm talking about this country, from past lessons and the present circumstances.
Lucas said:NO! you can't, and nobody will sell/buy to/from you if not done by means of legal channels you can't buy e.g. 24 carat gold for instance I mean physical on hand, in any place jewelery gold 9-18 carat excepted with the add of the markup prices that isn't the real value by weight
I can buy gold or what every i like form anyone. From friends, family, neighours, someone passing me on the street etc. There is no law stopping it. I can also sell it to anyone.
The only restriction is finding other people to trade with. However, i can use a service like:
http://www.bullionbuyer.co.nz/
to purchase gold/silver etc. It is purchased at the current international spot rate. And of course they charge you a fee.
Lucas said:foreign currency is handled by banks and registered exchange outlets exclusively and under strict control of the central bank, there isn't or even exist a black market in place were you can go and buy foreign currency at your heart content like you do here.
There is no black market in NZ because you can buy US$ or euros etc straight from the bank without any controls.
However there is no law in NZ saying that anyone can not take deposits, in NZ$ or any currency for that matter. There is no law saying i can not trade/swap currencies with other people.
Infact i suggest you go read this website:
http://www.rbnz.govt.nz
"The Reserve Bank of New Zealand Act 1989 (the Act) refers to non-bank deposit takers (NBDTs) as “deposit takers”. In the Act, a “deposit taker” is defined as a person, other than a registered bank, that offers debt securities to the public, within the meaning of the Securities Act 1978 (the Securities Act), and carries on the business of borrowing and lending money or providing financial services (or both)."
Providing financial services can be currency exchange. And as long as i do it with-in the law, as in dont try to rip people off, i can do it.
Lucas said:No one will ask or demand that you pay the rent or buy and pay a house in a foreign currency, not only it's unthinkable but it's also illegal, and here all that is permitted, how come?.
No one demands to be paid in other currencies in NZ because NZ is a relatively stable country by world standards, and the NZ$ is a freely traded currency, it is easy to change to another currency if i wish. I can go to any bank in NZ and purchase or sell US$/euros without ID, as long as they have it on hand.
I could ask for payment for anything in any currency if i wish and it is totally legal.
The only reason people ask to be paid in US$ here, is so they can hide it in there house, so that if there is another crisis they have a hard currency, and they dont put it in the bank, because they dont trust the banks or the government, and they dont wont the gov to know how much they have.
Unlike argentina NZ has a free and open market/society. We can freely buy, sell and trade, what every we like as long as it is not illegal (eg: drugs).
I can also import what i like, as long as it is a legal item - even a car or ten cars. And the only tax i will pay is GST at 15% (if the item is over $400 in value and new) - exactly the same tax that a shop charges, or a new car dealership. All new items have a tax rate of 15% in NZ - car, food, electronics, clothes etc...
Believe it or not there are places in this world that are relatively free and open. And people are free to go about doing what they like without the gov sticking there nose into everything.
Infact, just one little thing as an example - we dont have DNI's in NZ. And if a cop asks me for ID i could tell him/her to piss off as there is no law in NZ saying we have to carry ID or infact get an ID card. And even if i wanted one, i have no idea how or where i would get one. Unlike here where you have to carry ID everytime you set foot out your front door.
Lucas said:No one do this thing in any country but Argentina, this is also highly regulated in a developed country by law and is not permitted in any circumstances dealing in other currency but the legal tender of that country. As all you know in others countries you can't buy physical gold or make any transactions in other currency but the country's, but here it's like nothing happens, how come?, how can be such stupidity went along for such long time and without any intervention or control from the government?...
And to get back to your original argument: I can buy whatever i like with what ever currency i like as long as i fine a seller who is willing to accept that currency. It is not regulated at all or illegal to do so !!!!!
So until you have been to NZ and know what it is like you can not comment on it at all or make blanket statements about other countries.
