Is It Possible To Make Money Off The Blue Dollar?

cdestaing

Registered
Hi I live in N. America and I know of a place that I would exchange a large sum of dollars into pesos at the blue dollar exchange in Buenos Aires since I have a friend who lives there. I know that no place outside of Argentina will accept the pesos once they are traded. So basically I am stuck with a bunch of paper no one wants. Is there any way that I could either buy something of value such as precious metals? Or anything else with my pesos and sell it again for dollars in North America?
I know gold is hard to get there but I was wondering if you guys had any ideas of what to do to convert the pesos into dollars again. Any ideas of how to get the pesos into dollars again once traded?
 

HenryNisental

Registered
Wait a minute! There is no way to profit when selling dollars into pesos at black market rate and then buying dollars again at he black market rate.
Regarding gold, the only place you can buy gold bars here is the Banco Ciudad branch located in Viamonte and Suipacha Steet, I think.
But you could buy gold in the good old USA too, aren´t you? And you have a security issue here. People get killed here for a cup of tea.
At present the best business is to buy kitchenistas for what they are worth and selling for what they think are worth. Good Luck
 

French jurist

Registered
Let me rephrase your question (a bit fictionalized of course):

Hello, this is my first message. I don't intend to come to Argentina, I just want to make quick&easy bucks trading the spread between the official dollar rate & the blue one. I'm so clueless about what I want to do is that I'm not even asking about the risks. No, I just want to exchange a large sum -hum, in fact all my savings of 7K$- to make a profit.

Don't come & cry if, in between the moment you sell your pesos & the time you really have the USD in hand or on your account, something wrong arises.

/endofrant
 

Sleuth

Registered
How are you getting this "large sum of dollars" into Buenos Aires to begin with? You could always buy airfare for everyone you know, though your profit margin is now a bit smaller. And check out the PayPal thread too.
 

LostinBA

Registered
I know it's been said a million times but the best business here is to buy an Argentine for what he's worth and sell him for what he thinks he's worth.

Although it's a lightly traded market. Better to trade the options or you could find yourself with a basement full of Argentines.
 

John.St

Registered
Well, I have this recipe that teaches how to turn brass into gold - willing to sell it for a large amount of pesos.
Be warned though: It takes 3 years, at the end of which time you won't be able to find me again :rolleyes:

As you can understand from the above posts - for your own sake forget it, it ain't doable without serious risks.
 

gordita75

Registered
come down here, learn how to make empenadas like a mofo and go back to the states and start selling them at farmers markets, you will get a following, then you open up a small shop and then a chain. i think portland/seattle but also philly/boston.

for realz

oh yeay, and when youre here, rent in pesos
 

Sleuth

Registered
come down here, learn how to make empenadas like a mofo and go back to the states and start selling them at farmers markets, you will get a following, then you open up a small shop and then a chain. i think portland/seattle but also philly/boston.

for realz

oh yeay, and when youre here, rent in pesos
There is an Argentine woman who opened an empanada shop in Killington, VT. She sells empanadas on the ski slopes to hungry skiers and so far has at least 4 locations. They're prefect ski food...
 
Top