Saturday, April 02, 2011

Dólares no son bienvenidos , no aceptan.....

Well how long did you think it was going to last?
With the NOB gov running printing presses 32 hours a day, how could the value keep up?

Simple Answer......It's can't.

But the all knowing , politicians want to spend more .

Something will happen, and it will not be good, so to say.

Here is an interesting article I was forwarded today.

I don't know about you, but there has been a lot of hassle in selling dollars to convert to pesos lately.
They no longer take dollars in place they use to.
I wonder why.

Check out: Dollars no more

I did notice about a year ago when I walked into the local Santander bank that I had to bring my passport and ID, something I never had to do before. All I wanted was to swap 500 bucks.

Think about what that will mean in your life SOB.

Let me know.......

I am open minded.


norm said...

Two years ago it was 9-1, today 11-1 and falling but I suspect it is more of the paperwork involved with changing dollars at the clearing house level. The narco regulations on money transfers are a big pain in the ... for regular people trying to get their money back after they made the trade with you. So why bother? Hence the policy of "no way do I want anything to do with trading in dollars".

Shade tree economics at your service.

JerryL said...

So what do you do with your saving account dollars?

Steve Cotton said...

I suspect the article is incorrect in its specific conclusion. But, I do believe the American economy is in for a giant fiscal slowdown unless governmental spending is cut far more drastically than either of the sissy American parties are willing to do.

Anonymous said...

Hola Tancho, good post!
Since it is their country, and they can decide their own policy, it is not surprising that Mexico is making people use their own currency. OMG, are they trying to protect their own economy instead of ours?
In '06 x-rate was 9:1, in 08 12+:1
'09 it was 11+:1 today 11.8:1. it fluctuates. why? only the gods know for sure.
the linked article was thought provoking, and Norm's idea about monitoring currency due to narcos seems well thought out.
as for the dollar tanking? who knows. i guess it depends which side of the political fence one is on and what economic theories one subscribes to.
Question: can't one deposit US dollars in your US Dollar account stateside and withdraw in pesos via an ATM in Mexico? do residents really need to use cambios regularly? stay well!

Anonymous said...

This rule change will mean squat to my life. They should have done it long ago.

Regarding Steve's comment: Sissy American parties. I like that.

-- Felipe

Tancho said...

I am glad to see that Mexico is handling the problem in a way that it seems to work. The money changing business which should be around for tourists shouldn't have to deal with bureaucratic nonsense of cataloging any transaction. I am sure that the drug trade has much more efficient ways of washing their dollars into the economy down here.
My concern is that I use the ATM machine quite regularly to obtain my spending pesos, and hope that any rules or laws will not impede the removal of those funds.
Another concern is that dilution of the SSI funds which automatically get deposited into my account, but that is another more complex story, I doubt I will tackle here......
Yes Felipe, I agree that is should never have been that easy to have dual funds which it has for years. Hell man, you are in another country, so if you are expecting them to talk English, and use dollars, stay in LA, or wherever...

Anonymous said...

I just gave that article more than a quick scan, and I doubt some of what it says. Also looked at the mission statement of the website. It's extremist, to put it mildly, ranting against the "military-industrial complex" like Abbie Hoffman.

So I'm taking this article with more than one grain of salt.

I find it hard to believe, for instance, that hotels cannot give tourists pesos for dollars. If there is one thing Mexico coddles, it's the tourists.

Leslie Limon said...

All of the casas de cambio in my small town have signs that say ID is required for changing dollars, even if it is just 1 dollar.