Govt. opening safety deposit boxes.

nlaruccia

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There have been a lot of rumor going around about the government eventually opening up the safety deposit boxes at the banks and now they're offering insurance up to $50,000 US per box. Now Argentines are putting their money in safety deposit boxes in the banks in Uruguay, and I heard there are none left in Colonia.

http://www.ieco.clarin.com/economia/argentinos-llevan-plata-seguridad-Uruguay_0_782921847.html

A friend of mine works in a bank, and who's sister works in a law firm said that her boss used to be the vice president of Banco Marco until he resigned last year due to the crooked things the K's were up to involving the banks. He said he recently saw a ton of scanner machines in the port, that might eventually be used to scan the contents of the safety deposit boxes in the bank.

Those who have safety deposit boxes might want to withdraw their contents soon. But there is no safe place to stash your money. No safety deposit boxes left in Uruguay, no safe physical places in Argentina. It leaves us with few options. Do we send it back to the U.S. through a cueva and pay taxes on it in the States, or should we convert the money into something physical that won't go down in value and can be sold eventually? Like a car, apartment, business, a taxi, etc. Things are definitely not looking good.
 
I've never trusted safe deposit boxes in Argentina. These rumors are not new. There were similar rumors when Nestor was in power. Could it happen? Yes, I believe so,

What taxes would you have to pay in the US? There is virtually NO interest, so I can't see that there would be much tax to pay.
 
I have had Argentines tell me their parents' safe deposit boxes were opened during the crisis and gold and dollars replaced with the devalued peso. Other Argentines will argue with me and tell me that never happened. I worked for a corporation once and know what I learned there? Almost all rumors had a basis. So for my part I don't discount rumors. Maybe there is no truth, but I have discounted them before to my regret. These days I listen up.
 
There have been many similar rumors in the past but most of us can agree the situation gets worse everyday is Argentina becomes more like Venezuela. We can't trust the safe deposit boxes here and possibly not the banks in the U.S., but I would trust the safety deposit boxes in the U.S. It is too bad that there are none left in Uruguay, but then making four or five trips on Buquebus carrying the $10,000 US limit is a not only a hassle but a huge risk. I was thinking of what investments one could possibly make here in Argentina that are safe that would convert one's savings here into something that could turned back into liquid money later. Suppose you had $10,000 or $20,000 US. Not enough to buy an apartment....not nearly enough, but enough to buy a car. The value of the car goes down once you take it off the lot so that won't work. Then there are investments in fideicomisos, construccion developments which have extremely good return but are also risky. What options are left us expats?
 
A few years ago I would've said no way, can't happen. Now, I think it's at the very least possible that they might go after the safety deposit boxes. So we aren't taking any chances. In our case, we decided to go ahead with some long-overdue home renovations, since we're here for the long-haul anyway. Can't be turned right back into liquid money, but it's an investment of sorts.
 
Is it seriously being suggested that persons other than the rightful owner/title holder of said
deposit boxes will have them opened/ransacked behind their backs?
Are you serious?
 
nlaruccia said:
Tdevelopments which have extremely good return but are also risky. What options are left us expats?



Maple syrup ...its going for 250 pesos per 500ml bottle they report..:D
 
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