It's started......

[French jurist]

LMAO!! Even with the facts and reality right in front of you there will never be an admission of stupidity, will there? Another reason things will never change in this country.

Problem is you wouldn't bet anything on what you say.

Concise, that is.

 

[evitaduarte]

It's more like "buy dollars now and hope to stay even by doing nothing but wait." It's almost certain the peso will depreciate by a good percent, but it is also almost certain that inflation will meet or exceed that percent. People are just trying to avoid losing the value of their money.

I have lived through the 1975-76 hyperinflation, the shock of the termination of dollarization in 2001, and am somewhat familiar with the effects on local prices expressed in pesos vs dollars during the hyperinflation of the 1984 De La Rua administration. As far as I can tell, the increase in dollar value has always outpaced inflation. That is to say that, for people with dollars, the cost of local goods and services gets cheaper as time passes and the the local currency is devalued.
You can expect the parallel rate of the dollar to reach 5.6 before the end of the year. That's more than 33% higher than the 4.2 of late October. I don't think there will be 33% inflation in the peso cost of goods and services in tht 2 month period. Didn't everybody predict this dramatic increase in the dollar as soon as the election ended?

 

[JWB]

Problem is you wouldn't bet anything on what you say.

Concise, that is.

Why should I bet? Not that you would pay up when you lost anyway. Still, I was just providing a warning, nothing more. Whether you are smart enough to heed it or not, that's your issue.

It's already started to happen (have you watched the news today)??

 

[JWB]

Didn't everybody predict this dramatic increase in the dollar as soon as the election ended?[/quote]

Hi EvitaDuarte, YES...a few of us did...but of course the K teet suckers like Lucas and French Jurist mocked us and said we didn't know what we were talking about and that would NEVER happen and the Gov was perfect and angelic and isn't corrupt and would never do that.

Love saying 'I told you so'.

 

[dennisr]

Adding to the drama at no extra charge: "central bank has delayed publication of its quarterly foreign exchange market report, which contains a key measure of capital outflows, to Dec. 1 from Nov. 10."

 

[ndcj]

Didn't everybody predict this dramatic increase in the dollar as soon as the election ended?

Hi EvitaDuarte, YES...a few of us did...but of course the K teet suckers like Lucas and French Jurist mocked us and said we didn't know what we were talking about and that would NEVER happen and the Gov was perfect and angelic and isn't corrupt and would never do that.

Love saying 'I told you so'.

Where's the "dramatic increase"? The peso has been relatively stable, having fallen 0.7% (that's right, zero point seven percent) against the US dollar since the election. In the same period of time, the major currency pairs have moved mostly more so.

Major currency pairs price right now versus last month:

• EUR/USD up 0.20%
• GBP/USD up 1.91%
• USD/JPY up 1.29%
• USD/CHF down 0.62%
• USD/CAD down 0.88%
• EUR/GBP down 1.67%

But hey, don't let facts get in the way of your self-congratulation.

 

[dennisr]

Furthermore, Boudou will require companies to delay payments to foreign suppliers for 10 to 15 days.

http://economia.iprofesional.com/no...el-pago-de-importaciones-y-giro-de-utilidades

 

[elhombresinnombre]

According to research, 43% of people reading this thread would like more statistics.

Always happy to help... http://bomus.org/index.php

 

[PhilipDT]

Where's the "dramatic increase"? The peso has been relatively stable, having fallen 0.7% (that's right, zero point seven percent) against the US dollar since the election. In the same period of time, the major currency pairs have moved mostly more so.

Major currency pairs price right now versus last month:

• EUR/USD up 0.20%
• GBP/USD up 1.91%
• USD/JPY up 1.29%
• USD/CHF down 0.62%
• USD/CAD down 0.88%
• EUR/GBP down 1.67%

But hey, don't let facts get in the way of your self-congratulation.

And why has it fallen 0.7 percent? Because the central bank keeps tossing dollars out the front door like they're on fire.

 

[ndcj]

And why has it fallen 0.7 percent? Because the central bank keeps tossing dollars out the front door like they're on fire.

No, they haven't. Most of the flows recently have not been to support the price, but for debt commitments. Read more than the headlines in La Nacion, even they say so if you read all the way to the bottom.

In any case, JWB was claiming "I told you so" about a "dramatic increase in the dollar", and it just isn't so. Whether the BCRA or space aliens are intervening in the market, it's simply not factually accurate, the peso has barely moved since the election.