Peso Devaluation Coming In October? Impacts?

[French jurist]

Yes, we're also in a different situation economically on the global level this time round, lots of regions in recession, bailouts and restructuring going on in multiple nations etc.

Yop, this could have an impact on the ruling by the NY Court: ruling in favour of the Vulture funds could create a big mess in Europe (Greek bondholders, etc.).

 

[Joe]

All these machinations about what the blue dollar rate will be, what the fairytale "official" rate is. Some of you have been in Argentina for so long you have come to think of this as normal.

Adult countries just let there currency trade on the FX market and there is not a lot of discussion about it.

There really is only one rate: the so called blue market rate. The Fairytale rate, I mean the Official Rate is just a rate that is used by the Government Cronies through preferential access to suck more blood from the average Jose.

 

[GS_Dirtboy]

I've been hoarding my Pesos under my mattress. Is that still the right strategy?

I'd be interested to hear what are the financial strategies people are putting into place, especially for those who are making their salaries in Pesos.

 

[Jaredberryman]

Yes I had written out a post regarding the same Buitres that may go ahead and screw up Cristina's plan(? assuming she has one) royally. Argentina's offer was ludicrous, it was, in layman's terms: we'll pay back your bonds with more crappy bonds that aren't going to mature for another 20 years when this govt is long gone. I do think the offer should be thrown out, though it will be bad for Argentina. Fortunately for CFK Capriles didn't win bbecause he had all intention of calling in the 13bn that she owes his country as well.

Everything is coming to a head at a slow roar -- buitres due, other debts due, inflation growing, amount of cash that govt needs to continue funding "work" programmes is eating up funds etc.

The peso is going to have to be slashed eventually -- the black market rate really is a more proper valuation of the peso to the dollar.

All of the dancing for joy by expats with dollars is really going to cause a lot of tension on this board between the haves (of dollars) and the have-nots (those with peso salaries and savings). Hopefully those dancing for joy with their dollars will have a bit more sympathy when the time comes.

There is not dancing for joy watching people suffer. I will take at advantage of it to help those around me, but I think everyone should be more grateful if Argentina was just a much more stable country...

 

[Sleuth]

I'd be interested to hear what are the financial strategies people are putting into place, especially for those who are making their salaries in Pesos.

1. Go to Colonia and convert pesos to dollars at the 'dolar colonia' rate. Save in dollars.
2. Buy Bitcoins (unproven)
3. Buy durable goods - imported autos, etc.
4. Buy real estate.
5. Convert at the dolar blue rate.

Those seem to be the major ways to have a financial plan with pesos.

 

[scotttswan]

1. Go to Colonia and convert pesos to dollars at the 'dolar colonia' rate. Save in dollars.
2. Buy Bitcoins (unproven)
3. Buy durable goods - imported autos, etc.
4. Buy real estate.
5. Convert at the dolar blue rate.

Those seem to be the major ways to have a financial plan with pesos.

Don't buy bitcoins, its like betting all your savings on 00 at roulette.

 

[French jurist]

1. Go to Colonia and convert pesos to dollars at the 'dolar colonia' rate. Save in dollars.
2. Buy Bitcoins (unproven)
3. Buy durable goods - imported autos, etc.
4. Buy real estate.
5. Convert at the dolar blue rate.

Those seem to be the major ways to have a financial plan with pesos.

6. Buy items that keep their value in USD: Antiques, Art, Jewelry (profit to be made on 1920/1930 Jewelry and selling abroad).
7. Buy small pieces of land in areas with a promising future (Misiones, Bariloche/El Bolson area).

 

[Rich One]

6. Buy items that keep their value in USD: Antiques, Art, Jewelry (profit to be made on 1920/1930 Jewelry and selling abroad).
7. Buy small pieces of land in areas with a promising future (Misiones, Bariloche/El Bolson area).

7 . Land in Misiones has little or no liquidity, Unless you have the inside track that a Dam will be built and you will be expropriated

8- Go to s large wholesale supermarket like Makro and purchase you non perishable items for a year supply pay CC 12 payments w/o interest? if available.