MercoPress. South Atlantic News Agency
As the dollar clamp tightens in Argentina, the greenback traded at 6.31 Pesos
The US dollar in Argentina soared on Monday and was trading in the “blue” or parallel market at 6.31 Pesos considerable higher than last Friday. The official rate climbed a modest half cent to 4.53 and 4.575 Pesos. Read full article
Comments
Disclaimer & comment rulesSo Yankeeboys prediction is coming true.
Jul 17th, 2012 - 06:55 am - Link - Report abuse 0Also, didn't the Argentine government promise it was going to 'regulate' the blue market? Not doing very well are they?
I like this bit. “Even President Cristina Fernandez who has/had considerable sums of money in several banks has said she converted her dollars to Argentine Pesos.” Sure she did, I bet she ran right out and converted all her plentiful dollars into worthless pesos.
This bit has to be the biggest indicator that Argentina's people have lost faith in CFK's economic model: “However in spite of the clamp and attempts to catch every possible dollar, Argentines managed to exit 131 million dollars during the last week. In effect since the free purchase of dollars was blocked last October, savings accounts in greenbacks in Argentina have dropped from 14.9 billion to 8.9 billion, approximately 40%.”
That's a lot of money to exit the economy, especially when CFK has 'promised' to pay back debts owed to the Argentine people after the financial meltdown, 'promised' a pay increase for the military etc...
She is very good at promising things, but I doubt she has the capacity to deliver, unless of course she uses some of her own money. HAHAHAHAHAHAHAHAHAHAHA!
Ignorant question perhaps but are Argentinians searched as they leave the country in order to prevent them from spending dollars or keeping them safe abroad? It seems pretty desperate.
Jul 17th, 2012 - 07:33 am - Link - Report abuse 0@2 - Austral
Jul 17th, 2012 - 08:20 am - Link - Report abuse 0Not only are they searched, but the Argentine authorities have dogs who are trained to sniff out dollars! In other countries the dogs are trained to sniff out drugs or weapons, but not in Argentina!
You couldn't make stuff like this up. But desperate people will always find a way to smuggle their hard earned cash to safer shores, especially as the Rgentine government has a history of stealing money from investors and savers to pay debt, issuing them with worthless bonds instead.
@2 Also, every single valuable item in their luggage has to be registered as they leave the country. This only applies to Argentines as all other travellers just go through security checks as usual.
Jul 17th, 2012 - 08:29 am - Link - Report abuse 0#1 “I like this bit. “Even President Cristina Fernandez who has/had considerable sums of money in several banks has said she converted her dollars to Argentine Pesos.” Sure she did, I bet she ran right out and converted all her plentiful dollars into worthless pesos”
Jul 17th, 2012 - 11:01 am - Link - Report abuse 0But they're not worthless, as Cristina has proven by converting to them!
@ 3, 4 right but wouldn't most of these loyal Argentiians be able to circumvent this by traveling on their Italian and Spanish passports? So many of these patriots seem to have a dual citizenship.
Jul 17th, 2012 - 11:31 am - Link - Report abuse 0I am American so I do not support anything leftist Argentina does. But as a matter of fact, my GF (a Portena) left to visit me 3 weeks ago and was not searched and left with 1500 USD.
Jul 17th, 2012 - 12:01 pm - Link - Report abuse 0#5 BK
Asswipe converting her dollars to pesos does not prove that that peso is solid. If an idiot jumps off a bridge it does not prove that jumping off a bridge is safe. Besides IF she actually converted to pesos, she only converted her KNOWN stash, not her Swiss accounts that are hidden. Have you left socialist morons ever wonder why and how your beloved leaders get rich yet the people they lead do not?
@6 Quite possibly but the queue at the airport of Argentines having to declare eveything was very long and slow moving. To say they were pissed-off would be no exaggeration. This was at the end of March and was clearly a new development that none of them were expecting; I have no doubt they have found a way around it now.
Jul 17th, 2012 - 12:06 pm - Link - Report abuse 04% fall in 1 day is disastrous! It looks like the tempered deliberate devaluation is getting away from them. Arg can not hold the delta between the real ( blue or leak, you choose, I think leak) rate and gov't rate for long.
Jul 17th, 2012 - 12:41 pm - Link - Report abuse 0Asset sellers will demand either leak or blue rate (again probably leak) for transaction sales prices anyway. This will get much worse before it gets better(maybe in a generation). The BCRA reserves are almost depleted once it gets to a tipping point they can't support the peso and watch out below.
Argentina - the land where there is an 'official' version as well as the truth for everything from inflation, to exchange rates, to the history of the Falkland Islands. Doesn't exactly give you a lot of faith in what they say does it?
Jul 17th, 2012 - 12:43 pm - Link - Report abuse 0@2 Austral, I'm led to belive that they have Dogs at Colonia to sniff out large amounts of Cash?.
Jul 17th, 2012 - 01:29 pm - Link - Report abuse 09 yankeeboy (#)
Jul 17th, 2012 - 01:30 pm - Link - Report abuse 0I was offered a plot of land yesterday of which the price was either US$42.000 or ARS$281.820.
That actually is US$1=ARS6.71
7 yes we know how the KK are every day getting more millonaires aand stealing the savings and the salaries of the people....except of them.
Jul 17th, 2012 - 01:34 pm - Link - Report abuse 0Inflation is every day more high, 1 litro of milk was 5,30 $, now 6,50 or 7 $.
The devaluation of our money exists although they not recoignize it, the blue is 2 $ more than the official, only KK can buy.
She is ill of power, every day more stupid about it, really makes people get tired, and this is going to get every day worse.
Inflation has even hit Gridos :(. A half kilo was 17 ARS now 20 ARS.
Jul 17th, 2012 - 01:44 pm - Link - Report abuse 0TN is reporting in-fighting between CFK's minions over the exchange rate. Must be like the 3 stooges! One dumber than the enxt and all of theme thinking they are right.
Jul 17th, 2012 - 01:58 pm - Link - Report abuse 0I wonder if panic will set in at $7/1?
Everyone has a figure in thier head when THEY MUST BUY U$ no matter what. I just wonder what that number is and when it will be reached.
Not long now though...
whats “gridos”? what are you eating enginner??
Jul 17th, 2012 - 02:10 pm - Link - Report abuse 02 dead, 19 injured in Toronto shooting
Jul 17th, 2012 - 02:35 pm - Link - Report abuse 01 dead, 17 shot in Alabama university
wrong man shot dead by police in Florida
family shot dead in Oakland California
This all just in the last 24 hours!!
But hey, lets go talk about the problems in other countries, we got it all under control in the good ol USA. Yeah! [sounds of firearms from the streets below at yankeeboy's 15th floor penthouse]
(repeat)
17 Truth_Telling_Troll
Jul 17th, 2012 - 03:26 pm - Link - Report abuse 0You are a bore, Tobias.
#17 Hey cave troll........When you combine Brazil, Colombia, Argentina, and the land of gold Venezula the population approximates the USA. Now if we were to read the news from those countries I am sure I can cherry pick only the baad news.......oh, wait a minute, I can't because the news is censured!!!!!!!!!!!Even the middle class protests in Buenos Aires last month were never reported on the news.
Jul 17th, 2012 - 03:40 pm - Link - Report abuse 0The few weeks I was in Buenos Aires in February, there was a shooting a day in Recoleta, not to mention a number of tourist murdered. ANd let's not forget the latest crazes there......kidnap someone and take them to the ATM or set your girlfriend on fire.
When you call the kettle black, make sure you're not a pot.
I don't recall tourists being murdered in Recoleta... Have you ever watched Pinnochio?
Jul 17th, 2012 - 03:59 pm - Link - Report abuse 0To compare petty crime where they grab your money or camera to mass shootings as UNIVERSITIES (where barely 18 year old kids only want to further their life), or at some random shopping mall is typical anglo saxon logic.
And no, Argentina is not Brazil or Venezuela or Colombia. We are very different from them, not the least Colombia's murder rate is like 23 per 100k, Brazil's is 25k per 100k, and Venezuela's something like 75 per 100k, whereas Argentina's is barely 5 per 100k and this in a country that does not jail anyone (only 0.19% incarceration rate of the population). The USA at 2.5% incarceration rate has the same murder rate.
And unlike the other countries in Latin America, we import criminals from all our neighbors and beyond. Should we ship all the foreign criminals back and jail everyone at the rate the USA does (and disarm the population like Europe has), our murder rate would be the lowest on Earth.
Oh Toby, just look at today's headlines: ( just today fool)
Jul 17th, 2012 - 04:02 pm - Link - Report abuse 0http://www.clarin.com/policiales/
This is just BA. ( just BA)
One of the reason's I moved back were all the commando assault teams invading my neighbors at night. EVEN WITH PRIVATE SECURITY ( or maybe because of it I was never quite sure).
My neighbors had their boy kidnapped and a finger sent home, many neighbors had their cars hot boxed and then stolen and/or kidnapped and robbed, families held at gun point at night while their house was ransacked.
It was happening more and more so I came back to the USA and it is much worse now.
My friends grandmother is too scared to go to the neighborhood store and she is in downtown San Isisdro!!
@21
Jul 17th, 2012 - 04:13 pm - Link - Report abuse 0Well, I only read there one death in a city of 15 million. The others were just “scared” people reporting crime activity.
I guess, if we think about it, to many people it is better to be just blown away point blank and get it over with (like in the USA, whether a stranger or a police officer does it :| ), than to get “roughed up” like in Argentina but still have your life, because then you have to recall the undeserved experience.
Maybe the angl0 way is better afterall, just shoot me dead so I won't remember.
In general the Anglo way is always better...better in every way and every thing. Why do you think they are the richest countries in the world?
Jul 17th, 2012 - 04:44 pm - Link - Report abuse 0Has the peso reached 7/1 blue rate..getting kinda close, do you think that is the panic number? If not what is your guess?
Used to be, used to be indeed (to make wealth), to raise families and the like it was always a disaster, given the disastrous disfunctionalism existen in American families.
Jul 17th, 2012 - 04:50 pm - Link - Report abuse 0Used to be? You have no idea what you are talking about.
Jul 17th, 2012 - 04:56 pm - Link - Report abuse 0Tell me yankeeboy, how much larger has the UK/US middle class gotten in the last 12-15 years?
Jul 17th, 2012 - 05:03 pm - Link - Report abuse 0How much has poverty decreased?
What has been the return of your stock markets in the last decade or so?
How have real wages fared?
What concrete production or technology fueled the US/UK expansion of the 2000s?
You will find that the answers to those are:
1) it's shrunk considerably
2) it is up several percentage points
3) miserable (a whole generation will retire with 0% return)
4) wages have gone down 3 decades
5) nothing but a speculative banking fraud economy + real estate bubble... no actual production or industry behind the “growth”
Sound like a formula to emulate doesn't it?
Um try choosing a different decade or use the last say 50 or 100 yrs. Who cares about a decade? I don't. Slow and steady...try reading the tortios and the hare and see which one is an RG.
Jul 17th, 2012 - 05:11 pm - Link - Report abuse 0What technology? You are typing on one now and connected to it...just one little example.
Gads you are dumb.
@20
Jul 17th, 2012 - 05:13 pm - Link - Report abuse 0Weenie, two girls in Salta were found dead just the other day... I guess you care more about “evil” European/Americans getting killed than your own people, fk-troll.
BTW Toby Do you think the LARGEST COMPANIES IN THE WORLD...larger than the GDP of ARGENTINA ....are sitting idly by not inventing anything for the last DECADE you are dumber than I even imagined.
Jul 17th, 2012 - 05:22 pm - Link - Report abuse 0@27
Jul 17th, 2012 - 05:22 pm - Link - Report abuse 0I'm typing on a typewritter descendant, not invented in an anglo country, and the electricty I use was developed by a Serbain (AC)...
So?
@28
YOU INVERECUND FOOL! Those two girls COMMITED SUICIDE!! That was just revealed. One rope used for the strangulation of both (btw, rapists or robbers would never use ROPE to kill victims, they carry guns or knives), and now the boyfriend of one of them is testifying her girlfriend said she would kill herself the day before.
One rope for two dead (and a style of killing that would never be used by criminals), no sign of violence in the bodies, and now testimony indicating typical teenage problems. Case closed, no criminal activity.
Sure.. a p/c is just like a typewriter and the internet is electricity...yeah ok.
Jul 17th, 2012 - 05:34 pm - Link - Report abuse 0You know maybe you seriously think that because you are using 10 year old technology?
Hmm that must be it...
Have they stopped Dialysis in Mendoza or is it just in BA? How long do you think the patient can go without it? 3 days? I doubt it....
@28
Jul 17th, 2012 - 05:40 pm - Link - Report abuse 0http://www.losandes.com.ar/notas/2012/7/17/jovenes-anticipo-novio-matar-655174.asp
Here you go, the two fools killed themselves. Next...
@31
None of your products are fully US technology. A lot of the componets are Asian, or European. End of story. Nothing today is developed in one country.
Mendoza is quite fine, wintertime, people enjoying the snow. No protests here, no blocked roads, no serious crime of late. Hospitals are working fine. Some wineries are ready to bottle the very early 2012 wine varietals.
Good times.
Apparently you don't know the difference between developed, invented or produced. Spend 2 minutes and look it up.
Jul 17th, 2012 - 06:06 pm - Link - Report abuse 0Your schools must be simply atrocious in Mendoza and gads didn't you tell me you are one of the smartest in the Province?
Ooh no protests what a feat! Are they picking up the garbage too? Wow!
@33
Jul 17th, 2012 - 06:10 pm - Link - Report abuse 0I do, you don't, none of the products you always have in mind were developed with 100% local components, quite a large part of the inner circuitry is from elsewhere.
Funny, in the other thread people are complaining we are not protesting, here you mock the fact we do protest.
I love exposing the argie-haters here, their hatred blinds their sanity and it is lovely to expose.
My spouse is an Argentine you trolling baffon, loathing your Argentine government is not hating Argentines...........though I hate lazy socialists that do not believe in hard work and expect government handouts.. And if Argentina is so safe........everyone I know and thats a good amount in Buenos Aires is scared shitless at night in BA. Outside the city every needs a walled home to deter home invasions.
Jul 17th, 2012 - 06:26 pm - Link - Report abuse 0As for the toruist.....it was a French guy stabbed to death for his Nikon camera in the Plaza San Martin at 7 in the morning no less.
I find it laughable how everyone here is scared sh!tless of Argentina, but then I always, ALWAYS read them claim that “I was just there a few weeks ago and its gotten worse”...
Jul 17th, 2012 - 06:36 pm - Link - Report abuse 0So scared, huh. LOL
Everyone in my neighborhood had 12 foot walls they looked about the same age as the houses ( 30-50yrs)...so it's not like it has gotten any better.
Jul 17th, 2012 - 06:47 pm - Link - Report abuse 0I wanted to live in Horqueta ( part of San Isisdro) to be near the Jockey Club but was talked out of it due to the HUGE VILLA abutting the neighborhood.
It is baaad and worse everyday IN BA. You may mock it Toby, but you have no idea what you are talking about, Mendoza is remote and you are right it is better than BA but the whole country depends on BA to be successful. When it is bad there it is bad everywhere in the country it may not have reached Mendoza yet but it will.
I think you are very scared of what is happening to your country, TTT, hence the false bravado.
Jul 17th, 2012 - 06:49 pm - Link - Report abuse 0You people assume too much. It's pretty pathetic quite honestly, especially from you Elaine.
Jul 17th, 2012 - 06:52 pm - Link - Report abuse 0Buenos Aires is much better today than New York, Miami, Los Angeles, Chicago in the 1970s or 1980s. You guys somehow survived (well, many did not)...
Two fools who killed themselves with a rope, that's not crime end of story. It is two stupid girls.
“Buenos Aires is much better today than New York, Miami, Los Angeles, Chicago in the 1970s or 1980s.” LOL! Is it 1980 in Buenos Aires? I realise the music has just about caught up to the 80's in Argentina but honestly.....LOL!
Jul 17th, 2012 - 07:01 pm - Link - Report abuse 0@41
Jul 17th, 2012 - 07:05 pm - Link - Report abuse 0The point being (point which you obviously have no intellectual capacity, or more precisely, the intellectual honesty to confront), is that cycles vary from country to country. And it is only fair to compare violent cycles to violent cycles, and not time-based comparisons. Because if that is the standard, then Argentina is far more socially progressive than the UK, US, Italy, Germany, France, Japan, since you have no laws for same-sex, for personal end of life, for women's participation in government, etc...
And you are British, what would you know about music? You stopped being of any relevance since circa 2003-2004.
BA is just coming off of a decade of relatively high growth( if you believe Indec). It shouldn't be like it is already! Broken sidewalks, graffiti, garbage piled high in the streets, can't pay suppliers, can't pay salaries, hugely over crowed dangerous public transport, crumbling infrastructure, polluted waterways, terrible hospitals, terrible schools, where is the 1o yrs of progress?
Jul 17th, 2012 - 07:09 pm - Link - Report abuse 0More stories in the Villas? Is that CFK's idea of progress? It is going to be 10-20yrs of no growth and no $ to spend on infrastructure now.
The only people that try to compare any large US city to BA have never been here even 30-40yrs ago. You should compare it to Caracas or Mexico City it's much more apt.
That's true, US cities don't even have reliable public transport, save NYC and maybe Boston. No one in their right mind would say most US cities have even arrived in the 20th century!
Jul 17th, 2012 - 07:11 pm - Link - Report abuse 0US.....its schools....US educating system
Jul 17th, 2012 - 07:19 pm - Link - Report abuse 0dont make me laugh........
in US ,if your parents were poor ,you were more likely to be poor compared to other countries.
The eligible student from poor family has roughly the same chance of graduating from college as the worst student from a wealthy family.
Many Americans are confident that the US Education System is one of the best in the world,but again this thinking that this perception is not backed by the reality.
@44
Jul 17th, 2012 - 07:21 pm - Link - Report abuse 0What? Best in the world? Who do they think they are kidding? We have satellite and cable in Argentina... every now and then I catch the adds where they state the US ranks 27th in math (behind all of Western Europe and parts of Asia), 34th in science quotient... hahaha, and how much money do they spend in their schools?
Talk about a miserable rate of return!
The amount of support poor people get in the US is much less than in any country in terms of social benefits .There is not much of a safety net to help you out.On the other hand if you do well,you can do very well in the US.
Jul 17th, 2012 - 07:26 pm - Link - Report abuse 0Education is a safety net in your country? Wow, you are some backwards people.
Jul 17th, 2012 - 07:43 pm - Link - Report abuse 0in US;
Jul 17th, 2012 - 08:09 pm - Link - Report abuse 0student loans = 900 billions of Dollars.
what a hell.!
41
Jul 17th, 2012 - 08:56 pm - Link - Report abuse 0for women's participation in government, etc...
Margaret thatcher!
Tobias / TIT or whatever else you've named yourself (I'm betting there are several more names).
Jul 17th, 2012 - 09:15 pm - Link - Report abuse 0I've met people before with chips on their shoulders but you have a whole fucking jungle on yours. Get over it. It's not our fault you live in a 3rd world country and we know it's not your fault but the fact remains that you do. I'm not saying your country is worse than ours but- and I know you agree on this one- your president is a head case and that's why Argentina cops so much of a bashing by so many countries.
Peso down ANOTHER 5% today...I am going to guess that 7/1 is when panic will set in with the general public...anyone else care to wager?
Jul 17th, 2012 - 09:25 pm - Link - Report abuse 0Funny two 3rd world peasants who have never left their filthy backward province thinks the richest country in the world with the highest immigration rate has nothing to offer. Yeah OK. Get a life losers. Come and clean my pool or mow my lawn. I guarantee I will pay you 3x more than you are making now and I'll never even miss it.
hahaha
It's the socialism and anti-business environment of KFC that will kill Argentina this time. My dollar will go a long ways when I return.
Jul 17th, 2012 - 09:25 pm - Link - Report abuse 0At the close of business Tuesday, 17/7/2012 the blue peso was 6.60 against the dollar.
Jul 18th, 2012 - 05:23 am - Link - Report abuse 0@51 I think panic is around 8/1. It is a sad reflection on the policies of protectionism, cronyism and state control. I think you were right when you pointed to the Anglo countries being amongst the richest in the world but I have always asked myself why. Is it resources, landmass, a functional system of democracy (think of the stability of the US, Canada, UK, NZ and Australia; imagine South Africa working out if it had a French background?). The unfortunate truth for Argentina seems to be that they have been given a wonderfully rich country full of geographic and climatic variety and they are masters of just stuffing it all up. I used to think that it was the Iberian curse but we can look to Chile and even Uruguay with hope.
Jul 18th, 2012 - 06:18 am - Link - Report abuse 0#54 South Africa has a black African background, you idiot!
Jul 18th, 2012 - 09:46 am - Link - Report abuse 054. Argentina was considered one of the richest countries in the world when the USA and UK ran it but then Peron et al took over and ruined it. C'est la vie. I hear the slums are protesting and demanding electricity, right downtown BA next to Retiro.
Jul 18th, 2012 - 12:11 pm - Link - Report abuse 0Good gracious can you imagine!
Argentina was one of the top 5 countries at the end of the 19th century and early 20th. Though they aligned with Britain and the USA, neither ever ran Argentina. I feel it's a dark spot on the USA that they actually aided the junta during the Dirty War, kidnapping children and torturing civilians. Though both groups, the socialist lefts and the Military Junta brought down Argetnina. Now KFC is insisting it be buried.
Jul 18th, 2012 - 01:09 pm - Link - Report abuse 0As bad as they goverenment of Argentina is, I always love my time there.
@55 I meant British parliamentary democracy notwithstanding the evils of apartheid. The Latin “democracies” have hardly had a good track record or base to develop from.
Jul 18th, 2012 - 02:00 pm - Link - Report abuse 0Commenting for this story is now closed.
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