Friday, January 11th 2013 - 08:36 UTC

Argentine tourists must pay 8 pesos for the US dollar in neighbouring countries

Following on the climbing tendency since the beginning of the year, the ‘blue’ or ‘parallel’ US dollar traded in Buenos Aires at 7.25 Argentine Pesos with a 46% gap over the ‘official’ dollar that remained relatively stable at 4.95 Pesos.

Can you spare a dollar, I only have Argentine pesos?

Demand for dollars to travel overseas or neighbouring countries for holidays has stepped up demand for the greenback in Argentina forcing its price up, particularly since the administration of President Cristina Fernandez has put a clamp on dollar free-trading and savings.

To access to the official or ‘cheap’ dollar buyers must make a formal bureaucratic request through the Central bank and AFIP, the tax revenue office, which after checking the figure and the motive can reject the demand.

“It’s the same old story. The ‘tourist’ dollar works office hours until midday. In the afternoon the AFIP web is blocked until the following day and those who were unable to purchase the tourist dollar or had their request rejected or were only granted a limited amount, move to the streets in search of the ‘blue’ said a money trader, who added that the whole informal trade has become more ingenious and sophisticated to counter the control measures imposed by government.

“There is an explosion of (Christmas) ‘trees’ and ‘caves’ in the City where after sorting several filters you can purchase the dollars you need”, revealed the head of a money exchange house, which are forced to work with the Central Bank and AFIP.

But that’s not the end of the story for Argentine tourists travelling to neighbouring countries, Uruguay, Brazil and Chile. In effect, changing Argentine Pesos to US dollars or local currencies in any of these countries means paying more than in Buenos Aires’s financial centre ‘caves”: close to 8 Pesos and even higher.

In Uruguay, at the main resort Punta del Este the exchange rate ranges between 7.90 and 8.30 Pesos to the US dollar depending on the place and business.

In Brazil, Argentine tourists must pay a floor of 8.30 Pesos for the dollar; in Chile, 7.90 Pesos and in Paraguay, anywhere from 8.20 to 8.60 Argentine Pesos for the dollar.

This in practical terms means the gap between the ‘official’ dollar in Argentina (4.95 Pesos) and in neighbouring countries (7.90 to 8.60 Pesos) is well over 70%. To this must be added the fact that in Argentine resorts along the Atlantic coast or in the sierras food and lodging, is considerably cheaper, particularly when compared with Uruguay.
 

49 comments Feed

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1 slattzzz (#) Jan 11th, 2013 - 09:49 am Report abuse
Looks like yankeeboys predictions are right then trolls
2 Hi2U (#) Jan 11th, 2013 - 11:07 am Report abuse
20130111 03:07:08.09
3 Anglotino (#) Jan 11th, 2013 - 11:49 am Report abuse
Everyone kept trying to tell Argentina that their economic model doesn't work in the long term and now it is getting too hard to hide the truth.
4 yankeeboy (#) Jan 11th, 2013 - 12:26 pm Report abuse
So if you were selling your property in Argentina, well anything really, would you want U$100,000 or A$ 495,000 or A$800,000?

Do you stupid Rgs understand why this is a problem? Why there is no Real Estate or Construction activity? Why exports are falling? Why Inflation is out of control?
NONE of this can be fixed in the short term, THE ONLY thing it is doing to bring is a MASSIVE DEVALUATION and HYPERINFLATION.

I can't wait to say I told you so...

buy sugar and laundry detergent
5 Optimus_Princeps (#) Jan 11th, 2013 - 12:47 pm Report abuse
@4 It's more complicated than just money. Try kicking a deadbeat loser off your property with our joke of a court system. Apparently, if the scum bag has “good will”, what ever that means, he gets treated with extreme leniency at your expense.

Don't forget that AFIP is always sniffing for new sources of revenue to steal at a moments notice. We have some openly corrupt people that just need a severe arsekicking.
6 ptolemy (#) Jan 11th, 2013 - 12:48 pm Report abuse
These are the steps taken to obtain dollars in the country:
Before getting any greenbacks at your nearest exchange agency, the traveler must have previously obtained a “type 2” personal AFIP’s fiscal key, which can be done through the agency’s web site. This is the same key that allows a tax payer to submit affidavits and income tax returns online or check social security benefits and/or AFIP information, among others.

Once the traveler has got the fiscal key, the next step will be to provide the tax agency a series of detailed information about the trip before requesting the desired amount of dollars to go abroad.

Thus, the traveler will have to indicate his/her profession (whether it has a college degree or not), the trip’s destination, stops (if included), what’s the reason for travelling, departure and return dates, how many people will be part of the trip, flight’s number (if travelling on airplane), car’s license number (if travelling on car), and company’s name if travelling on bus or boat.

If the trip is part of a tourist agency package, the traveler must inform all details about the company with which the package was acquired.

Once the traveler submitted all the above information, the system will then ask to enter the amount of dollars needed.

But no one, the government in this case, will grant the traveler with the amount of dollars required. On the contrary, the AFIP online system will simply inform the amount of dollars the traveler is allowed to obtain/buy.
Once the transaction is approved, another stage begins as users are not allowed to buy dollars in cash but through banking transfer, hence discriminating those without a bank’s saving account.

After the AFIP detects that the money transfer has been accredited, the greenback will be deposited at the traveler’s bank account.

Financial Analyst of Puente exchange agency Claudio Burelli, assured that it takes about 24 hours for the traveler to see the dollars deposited at his/her account.
7 ElaineB (#) Jan 11th, 2013 - 01:48 pm Report abuse
I would be seriously worried about that information being sold on by employees. Where you are travelling, licence plate number and how much cash you have on you.

I once had my credit card details sold on by an Argentine airline employee. (Luckily AmEx refunded in full). I also had an attempted fraud with another credit card in Argentina but the credit card company blocked it when it was clear I would never use that particular retailer.

And I refer you to the recent robbery of a coach full of businessmen travelling in Argentina. They were targeted by thieves knowing their exact location, transport and that they would have jewellery and cash. At least one man was shot dead.
8 yankeeboy (#) Jan 11th, 2013 - 02:06 pm Report abuse
Elaine, I am shocked! Shocked I tell you!

How dare you besmirch the good and peaceful people of the Argentine Gov't and the Police!

I am wondering, which police do you think make the most money, the ones who extort the discos or the tourist police who alert the thugs to nice watches, cameras and phones?
Hmm I wonder?
Both are pretty lucrative I guess
I bet it pales in comparison to a customs agent tho...
9 Hi2U (#) Jan 11th, 2013 - 02:47 pm Report abuse
0650 20130111 ????
en.mercopress.com/data/cache/noticias/39005/130x90/uruguay-eolica.jpg
1900
10 Rawlings (#) Jan 11th, 2013 - 03:48 pm Report abuse
@7

Credit card fraud occurs everywhere on this Earth. Hackers and even companies compromise people's accounts in the USA and Europe all the time, and it is a recurring news theme.

You would be wiser to separate the contention with Argentinians over the Falkland Islands, to falling into excess. You are clearly trying to insinuate such things only happen in Argentina.
11 jakesnake (#) Jan 11th, 2013 - 04:22 pm Report abuse
@10 I don't think that's what she was insinuating at all. She has stated in many posts that typical Argentines are good people. I think she and the other posters are showing examples of where the country is headed under the clown brigade that's happens to be running the country. If the Argentines would get rid of her and the boneheads around her, vote in a president who has some fiscal/economic common sense and surrounds himself/herself with ministers who have the same common sense, then there's no reason Argentina couldn't turn things around.
12 yankeeboy (#) Jan 11th, 2013 - 04:39 pm Report abuse
10. I didn't get that either, but I agree with Elaine NEVER and I mean NEVER let any one with any authority in Argentina know how much money you have or where you live. You are asking for trouble.

That is why everyone with anything lives behind 12 gates and behind iron bars with armed guards on every corner. EVEN IN THE NICE PARTS OF THE CITY!

I have been shocked at the number of commando assaults happening where I used to live in Znorte. Thank goodness I saw the writing on the wall and got out of there while I still could.
13 Anbar (#) Jan 11th, 2013 - 04:39 pm Report abuse
“”“”These are the steps taken to obtain dollars in the country: LOTS of stuff to do“”“”

These are the steps taken to obtain dollars in the country: (UK): go to travel agent or bank, ask for dollars, get them, walk out.

I only highlight this as some of the more dubious “argentine government supporters” on these forums have so often said how bad things are in the UK, how good they are in Argentina and how this dollar clamp means nothing, inflation is under control and making up economic figures is just fine.

The clear and obvious disparity in how difficult it is to get hold of $USD really should be ringing major alarms bells just as optimus et al say.

- - - - -

“”@10 I don't think that's what she was insinuating at all.“””

there is a tendency for these forums to condense all argentines into a single indivisible mass of set traits, none deviating from this universal norm... pretty obvious that this is total bollocks, yet some persist in maintaining that sort of attitude and commentary (make your mind up whether or not it was intended in this case).

Just as all British are all war-mongering pirate colonisers, yanks are all obese gun-totting idiots and so on and so forth.

I had my CC details stolen by an American (USA) and they shoot people dead all the time, pretty much everywhere. Does this warrant complete condemnation of all americans?

In the Internet age it takes about 15 seconds to locate some story that can “backup” anybody's individual paranoia, disaffection, conspiracy theory or bigoted standpoint... and all of that breeds division, contempt, anger and, ultimately, is what leads to somebody suffering because of it.

One doesn't need to hate all Argentine to laugh at their government of idiots, or show Argentina is as deluded, depraved, deceitful and dishonest as its president.

And, after all, their president is screwing them over, not us.
14 ElaineB (#) Jan 11th, 2013 - 05:17 pm Report abuse
Just to clarify, I was pointing out the flaw in this system where corruption in endemic and I have experienced it in a personal level.

If you read my posts over a period of time you will see that I don't think Argentina is the only country with problems, or that all Argentines are bad people; far from it. My work takes me to Argentine a lot and I have built us a good network of Argentine friends and contacts. Some will be friends for life. And I think it is a beautiful country with great potential. I have many happy memories of my time there but I am not so blind as to not see the very real problems there.

We were discussing a topic related to Argentina and I commented on a huge flaw in the system implemented by the useless government run by the Kirchner oligarchy. And I passed on my warning and experience. That's all.

I hope I don't have to continually justify my position as it must be boring to the long-term posters. To criticise something Argentine, or enforced by the Argentine government, is not the same as hating Argentina. I don't hate Argentina.
15 agent999 (#) Jan 11th, 2013 - 05:47 pm Report abuse
@14 Elaine
The majority of posters do not hate all Argentinians.
Argentina should be a great and prosperous country with all its natural resources.
What we have an issue with is the current administration of their country and most of it is based on their treatment of the Falkland Islands.
What however has happened that by showing our support for the Falkland Islands we see that the current administration is using the Falkland Islands as an excuse to hide their deplorable administration of what could be a great county.
16 Pirat-Hunter (#) Jan 11th, 2013 - 05:47 pm Report abuse
It's time for gold coins to start circulating side by side with the Argentine peso and it would help a lot if Argentina can bring the import and export taxes to a level like the one in Cayman island. Taxes are good if we can collect them from the big corporations like the fakland holdings or Mont Santos.
17 agent999 (#) Jan 11th, 2013 - 05:55 pm Report abuse
@16
you don't have enough pesos to buy gold coins
18 Conqueror (#) Jan 11th, 2013 - 06:18 pm Report abuse
@16 Goody. Of course, to follow P-H's wishes, the rate is nowhere near correct. Argies should be paying at least 12 pesos for dollar. 50% tax, you know. And let's not forget the commission on top. Canadian dollars would be different. Let's call it 13 pesos for a Canadian dollar. Keep the terrorists where we can get them! There's a terrorist in Toronto. Never mind. Smart bombs and missiles. Take out a terrorist wherever it is. Let the people see how they are protected. Watch a terrorist eliminated
19 Condorito (#) Jan 11th, 2013 - 07:27 pm Report abuse
16
“Taxes are good if we can collect them from the big corporations ”
I think you'll find the “big corporations” will just go elsewhere, so you get no tax revenue.
20 Pirat-Hunter (#) Jan 11th, 2013 - 09:46 pm Report abuse
#17 I was talking about buying, gold creates jobs and it's under ground in San Juan Argentina. I am sure trading gold coins would put an end to the dollar dependency. Considering the cost of gold and the influence on the world financial markets, I am surprised no one has though of it! Can you imagine a gold coins with CFK or Che Guevara's face on it like the coin in Cuba.
#18 am not working for CIA, mossad or mi6, maybe you know more then you are telling us.
#19 sure anyone should be free to go about as they wish, that's what freedom and democracy is all about, but don't complain when the money trade is not on your side, this was a good try by mercopress but I doubt any Argentine's would go abroad to buy dollars when they know it's a lot more expensive, this report wasn't made for Argentina but to voice the opinion of the IMF and WTO dictatorship. Cayman island taxes all imports and no one is running from it.
rendezvous.blogs.nytimes.com/2013/01/08/flag-protest-reignites-northern-ireland-strife/
axisoflogic.com/artman/publish/Article_64333.shtml
www.abc.net.au/environment/articles/2011/12/13/3389001.htm
21 yankeeboy (#) Jan 11th, 2013 - 10:03 pm Report abuse
PH it is clear you have never been to Argentina and know absolutely nothing of their tax structure.

Argentina taxes EVERYTHING that is imported, why do you think the electronics cost AT A MINIMUM 3X more than in the USA?

Gosh you are stupid.
22 andy65 (#) Jan 11th, 2013 - 11:23 pm Report abuse
@yankeeboy (#) Describing that pig Pirat-Hunter is an under statement
23 Ayayay (#) Jan 12th, 2013 - 12:24 am Report abuse
@6 good explanation, ptolemy. How would an Argentinan young person get enough money together to work in a neighboring country? Wouldadvance rent, deposits and financial help from parents all have to be doubled
24 Pirat-Hunter (#) Jan 12th, 2013 - 12:37 am Report abuse
#21 I wasn't claiming to know much about Argentina's tax structure, but rather claiming to know where to find gold, you are missing the point I was merely suggesting that Cayman island taxing system might be a better way to deal with international economic pressure, if I carried a tag like yanky I would be more concerned with my children getting executed at the school, rather then waste time here talking trash about Argentina.
25 commonsparrow (#) Jan 12th, 2013 - 01:51 am Report abuse
Anyone read Forbes today?. It might be Turn Around Time for Argentina. www.forbes.com/sites/greatspeculations/2013/01/10/turn-around-time-for-argentina-2/
Being from New York, I like Argentina very much too. Except when I see small children running around alone and all the dogs running around loose. Something is brewing and I think badly, southward.
26 Ayayay (#) Jan 12th, 2013 - 02:05 am Report abuse
Pirat, the Argentina gov recently said it is illegal for it's citizens to buy gold.
27 Pirat-Hunter (#) Jan 12th, 2013 - 02:46 am Report abuse
#25 noticed how the report at forbis seems to reassure that gaining access to loans is the solutions when in reality IMF and WTO never solved any economic problem anywhere in the world by throwing money at it, but rather dictated closures from their contracts that forced the economic collapse of anyone involved. Billion upon billions in hunger while only one british banker is in jail.
#26 and since when did that stop corrupt Argentine from buying dollars or gold? You know my people less then I give you credit for, you must be stupid if you think people will travel outside of Argentina to trade 7 pesos for a dollar when in Argentina you can buy them for 4.50 pesos.
I think this report wasn't made for us Argentine but to feed the ignorance of the English community. Argentine should be more then glad to buy dollars at home for 4 pesos.

axisoflogic.com/artman/publish/Article_64333.shtml
28 commonsparrow (#) Jan 12th, 2013 - 03:12 am Report abuse
I have to disagree with you Mr. Pirate. Gaining access to loans always helps when you are in need, but one must be disciplined to pay back the loan. Another thing I've learned is that one must stop trying to be reasonable with unreasonable people. Your basic understanding of economics is poor.
29 Anglotino (#) Jan 12th, 2013 - 03:25 am Report abuse
Oh Pirat-hunter

Always good for a laugh. Such a larrikin.

“You know my people less then I give you credit for, you must be stupid if you think people will travel outside of Argentina to trade 7 pesos for a dollar when in Argentina you can buy them for 4.50 pesos.”

In that one paragraph you not only showed that it is you that know NOTHING about Argentina but you know ABSOLUTELY NOTHING about economics.

No once can GET US dollars in Argentina hence why the market rate is so high. Who do you think is buying these dollars?

No one wants Pesos hence the reason the market has to give 8 of the worthless pieces of paper away just to get one single US dollar.

Oh by the way, still loving that article:
axisoflogic.com/artman/publish/Article_64333.shtml

My favourite quote is still:
“Argentina’s claim to sovereignty has yet to be formally recognised”
30 Marcos Alejandr0 (#) Jan 12th, 2013 - 03:29 am Report abuse
16 Pirat-Hunter (#)
Jan 11th, 2013 - 05:47 pm

It's time for gold coins to start circulating side by side with the Argentine peso

Che, por favor. no es posible comprar oro en argentina. su no ayuda. Cállate.
31 Pirat-Hunter (#) Jan 12th, 2013 - 03:43 am Report abuse
#28 you can disagree with me all you want but chances are that if you keep in the same path Argentines will keep your lunch money again. And I will be here to remind you as usual.
#29 am glad u like it, enjoy it, but I will never be as funny as you people the the english community are much more laughable then me.
axisoflogic.com/artman/publish/Article_64333.shtml
www.gregpalast.com/the-globalizer-who-came-in-from-the-cold/
32 Ayayay (#) Jan 12th, 2013 - 05:16 am Report abuse
Latin Americans answer “travel” is their favorite thing: globalpublicsquare.blogs.cnn.com/2012/08/15/singapore-worlds-richest-country-by-2050/
33 ynsere (#) Jan 12th, 2013 - 05:52 am Report abuse
The nice elderly Argentine couple who've been renting my Punta del Este flat every February for the last nine years have today emailed to say they can no longer afford to come.
34 Marcos Alejandro (#) Jan 12th, 2013 - 06:01 am Report abuse
30 Fake Marcos Alejandr0
Learn how to write in Spanish before you use my name Brut.

Keep the good job Mr Kamoron!
“UK GDP shrank 0.3pc in fourth quarter, says Niesr”

www.telegraph.co.uk/finance/economics/9796123/UK-GDP-shrank-0.3pc-in-fourth-quarter-says-Niesr.html
35 surfer (#) Jan 12th, 2013 - 07:42 am Report abuse
In 6 months time people will be kicking themselves that they could have got a dollar for under 10 pesos.

There's no way the peso will maintain a value of more than 10 cents, the true value is tending towards 3-4 cents.
36 Anglotino (#) Jan 12th, 2013 - 10:23 am Report abuse
@31 Pirat-hunter

First off thanks for the reply. I though you didn't reply to HOMOSEXUALS. Guess what!!!! You just bloody well did. Congratulations.

Or perhaps there is more than one user of this account. If so you guys should coordinate.

Also I'm not English. You obviously don't read anything on here which starts to clarify things.

axisoflogic.com/artman/publish/Article_64333.shtml
As I've said several times. I love this article. My favourite quote is:
“Argentina’s claim to sovereignty has yet to be formally recognised”

I'm glad you finally admit that Britain has sovereignty over the Falklands.

As for this wonderful article from 2001
www.gregpalast.com/the-globalizer-who-came-in-from-the-cold/

Great 12 year old article. Seems Argentina has done everything opposite to the IMF and others would advise. And how's that working out? Let's have a look at the neighbourhood shall we. Year on year growth as at the end of the last quarter:

Argentina 0.6%
Brazil 0.9%
Paraguay 2.0%
Colombia 2.1%
Guyana 2.8%
Uruguay 3.0%
Bolivia 4.42%
Suriname 5.0%
Ecuador 5.2%
Venezuela 5.5%
Chile 5.7%
Peru 6.5%

Lower than every single country in South America.

Inflation (the real rate not the pretend rate) is higher than every country in South America. Chile, Peru, Guyana and Colombia didn't even break 3.0%.

Yeah Argentina is soooooo lucky it saw through the World Bank and IMF.

Unfortunately my country didn't. And now look at us!!!!!!!

HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

Look at us and look at you!

Oh boy you are good for a laugh.
37 Joe Bloggs (#) Jan 12th, 2013 - 10:32 am Report abuse
36 Anglotino

Damn it. I just finished telling you, on the thread with the photo of David Cameron in the story, why it is that PH won't respond to you and then I read this! It seems he did respond after all. You know what I think? He says he's straight but perhaps he's curious. LMAO.
38 Anglotino (#) Jan 12th, 2013 - 11:19 am Report abuse
I just replied to that message. LMAO!

Curious... pity we can't apply that descriptor to his mind!

One day I'll find an Argentinean on here that challenges me.
39 Joe Bloggs (#) Jan 12th, 2013 - 11:59 am Report abuse
Hey Anglotino

I hope PH liked it.

The reason the Malvinistas can't challenge you is because they have no bullets and not much to fire them with either. Apart from that they're all over it.

I love Australia. I haven't been all over it (has anyone?) but I've seen a great deal of it. I've travelled extensively throughout Queensland, New South Wales, ACT and Victoria. I've also visited NT, Tasmania and SA. I've never been to WA. What I yearn to do is to hire a Landcruiser or something and drive right across the country from one side to the other; ideally through the centre if possible. I've not studied a possible route because it's not about to happen but one day. Retirement is not far away!

You've got to come to the Falklands some time.

Here's hoping for 6 inches of rain all over southern Australia some time soon.
40 Think (#) Jan 12th, 2013 - 12:38 pm Report abuse
(25) Commonsparrow

Thanks for your link to Forbes….. True to its tradition, Forbes is less ”Fundamentalist-Neo-Liberal” than, for example ”The Economist” or the ”WSJ”......

Some ”pearls” from the linked article.....:

”Fortunately, the (Argentinean) government possesses the power to engineer a dramatic turnaround…..”

”Moreover, it has nurtured human resources by implementing POLICIES DEDICATED TO SOCIAL INCLUSION….. “

”On the financial front, the nation sports a STRONG BALANCE SHEET….. “

”DEBT IS A SCANT 40% OF GDP”, well below the safe threshold of 60%..... “

“Similarly, Argentina has GROWN THE ECONOMY BY AN AVERAGE 7.7% PER YEAR since the 2001/02 crisis, WHILE WIDENING ITS SOCIAL SAFETY NET…...”

“Given the political will, Argentina can engineer a recovery and regain its prominence as a leading G-20 nation by fortifying its social programs through sound fiscal management........…...”

“How the Kirchner administration develops the nation’s human and natural resources will either accelerate its downward descent or set the stage for prosperity……”
www.forbes.com/sites/greatspeculations/2013/01/10/turn-around-time-for-argentina-2/

Well….. .................. .............
1) Something is brewing all-right….. and I “Think” goodly, down here….
2) Of course, I agree with you about the kids and the dogs…. Much more must be done…...
3) But I disagree with you about Argentina returning to the “Lenders Market”.... We have to keep our loans at an ABSOLUTE MINIMUM, continue to pay our foreign debt with our own money, earned by our own production and borrow only as a “LAST RESOURCE” and then only to finance earmarked infrastructure projects that shield acceptable social and economic returns to the WHOLE ARGENTINEAN SOCIETY....

Regards
El Think, Chubut, Argentina.
41 Anglotino (#) Jan 12th, 2013 - 01:02 pm Report abuse
Hey Joe

I'm not even sure if PH knows what day it is sometimes or what website he comments on. He rarely addresses the article, just pastes the same drivvle.

I drove across the Nullabor in 2008. There's a lot of...... nothing. But I loved camping under the stars on the cliffs of the Great Australia Bight. It's nearly 3,000 kms between Melbourne and Perth. Even Aussies sometimes forget how big Australia is. At least there's a lot more to see and do when driving across the US and the petrol was a lot cheaper.

For example, Argentina is about the same size as WA. Yet WA only has 2.2 million people.

And rain would be lovely but unlikely unfortunately.
42 scarfo (#) Jan 12th, 2013 - 01:26 pm Report abuse
40

some pearls from the linked article

Argentina seems to be on a collision course of its own making. Inflation is soaring and investment is on the wane. Despite being the third largest economy in Latin America with abundant resources, Argentina no longer has access to voluntary capital inflows and the growth that funding affords

The republic faces the threat of a currency crisis that could readily spiral to high double-digit inflation. In years past, excessive inflation eroded incomes and wiped out the savings of individuals. Despite intentions to benefit the poor, an unsustainable macro mix, difficult dealings with the private sector, and increasing international isolation promises to again diminish living standards

Investment confidence is also vitally linked to adherence to the rule of law. Unfortunately, Argentina has racked up lawsuits by individuals and institutions, and many settlements remain outstanding. For instance, Argentina has not complied with any judgments brought by ICSID, the World Bank’s arbitral body for settling disputes. Similarly, Argentina has refused to comply with more than 100 judgments in New York State alone ordering it to pay its creditors – including a high profile dispute with holdout creditors.

and then this little tit bit

Eleven million Argentines surviving on 7 dollars per day, according to Indec
43 yankeeboy (#) Jan 12th, 2013 - 01:49 pm Report abuse
I doubt Think has been to Argentina since the 70s.

I wonder if he will congratulate me on my correct predictions for 7/1 peso last year?

My guess this year they will be lucky to keep it under 10/1

Anyone know what constitutes hyperinflation? Everyone is predicting 36% this year. Is it 50%? 100% I wonder?

USDA just lowered their SOY forecast for Argentina gonna be hard to pay for the gas and oil they need if the crop is too low

Anyone see tenders for them to purchase Wheat yet?
44 Troy Tempest (#) Jan 12th, 2013 - 03:22 pm Report abuse
@30,34 MA

“Learn how to write in Spanish before you use my name Brut”

LOL, slipping up, Mark??

:-D
45 GFace (#) Jan 12th, 2013 - 05:54 pm Report abuse
@17/26 and Vargas, as I understand while free states (which excludes Argentina) will let you buy gold as an investment, the Ron Paul fantasy of rebooting the gold standard in any credible form is gone for ~everyone~ and ~has~ been gone for a very long time. Not enough gold for it. As for making a Galt's Gulch microeconomy of gold, once again, not gonna happen.
46 surfer (#) Jan 14th, 2013 - 04:42 pm Report abuse
Amazing how much can change in a few short months.......

19 Think (#) May 30th, 2012 - 05:14 pm Report abuse
TWIMC

May 30th, 2012 - 02:04 pm

Dollar “Blue”....: Down again to 5.81........

Seems to be that “The Sky Will Not Fall Over Us Today Either”, as Obelix always says....
47 Troy Tempest (#) Jan 14th, 2013 - 07:50 pm Report abuse
@46

Alas, poor Think,

All knowing, and all seeing... Turnip.
48 ChrisR (#) Jan 14th, 2013 - 09:16 pm Report abuse
Today on the east coast of Uruguay the money exchange want 8.8 arse wipes for a Dollar and I have just learnt that my Argentine friends from next door who OWN their house may not make it this year.

Last year they were here before Christmas, the son, his wife and two adolescent children stayed until the middle of January and then his elder sister and his 90 YO mother (a lovely person) until the end of January and then a National Field Hockey player friend and his wife stayed for February.

No problems at all, just the opposite. We shall miss them if they don't come.

I have no idea why they are not likely to come over; we are hoping nothing has happened to his mom.
49 yankeeboy (#) Jan 15th, 2013 - 01:50 pm Report abuse
Chris, When it gets to 10/1 please let us know. My guess that is the general panic number.
There was an article today that MDP has 25% less visitors than last year. I don't think people can afford to travel any longer. My friends have given up trying to come to the USA. It is just too far out of reach now.

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