MercoPress. South Atlantic News Agency
Argentina: dollar in black market climbs to milestone 8 Pesos and 57% gap with the official rate
The black market dollar exchange rate in Argentina pierced the milestone 8 Pesos mark while the official rate climbed to 5.09 Pesos with the gap between the two markets reaching 57%. The other ‘cash’ option: buying Argentine shares in Buenos Aires and reselling them in New York climbed 10 cents to 8.46 Pesos. Read full article
Comments
Disclaimer & comment rulesDoubles the value of my money.
Mar 15th, 2013 - 08:16 am - Link - Report abuse 0Yankeeboy, where are you when we want to hear from you, this one is yours.
Mar 15th, 2013 - 08:41 am - Link - Report abuse 0Sorry, forgot about time difference.
I wouldn't trade any of my US Dollars for less than 50 Argie pesos per dollar.
Mar 15th, 2013 - 09:07 am - Link - Report abuse 0@3 I wouldn't trade any US Dollars for any Argentine pesos, you'd get a lot more for your money paying in US dollars than you would paying in Peso's, especially as the Argentine public are desperate for dollars.
Mar 15th, 2013 - 09:46 am - Link - Report abuse 0Bring on the dancing Campora Trolls to explain why this is all, in fact, a good thing, even though its the result of Western Conspiracies to undermine the “Great Argentine Empire of Non-Europeaness”
Mar 15th, 2013 - 10:32 am - Link - Report abuse 0Oh Gosh, Well Think has been up for 12 hours or so I wonder why he hasn't been posting? I guess it is because the Peso is going down? hahaha
Mar 15th, 2013 - 11:15 am - Link - Report abuse 0The leak rate is $8.40 which is even a little more odd since it is higher than the “blue” rate. It has been equal or less in the past.
I also am wondering why CFK has not sent bags of U$ to the traders to keep in under 8. She has been doing that for the last 6-8 weeks. I wonder if they know they can't fight Mr. Market but I doubt that since they want to extend price controls until after the elections in the 4th quarter!
The peso will probably 10-15/1 by the end of this year.
All is lost for the Rgs the only thing they can do is hoard non-perishables or come to the USA and clean our pools, work as hookers,bartenders or strippers like the Brazilians.
@6 I disagree with you. Those that are punctual, hardworking, and well-educated apparently produce enough to keep the K's in denial. If I do leave Argentina, which is possible, I'll just keep working with computers. Possibly to replace someone that partied all through college, doesn't know even their own nation's history, and can't even point out 10 countries on a map. You also have a high education/wealth gap.
Mar 15th, 2013 - 11:46 am - Link - Report abuse 0Those that support CFK have that worst work ethic humanly possible. Maids will do a “good enough” job, just so you call them back and don't suspect that they raided your fridge and dug through your belongings for valuables. The pool boy will slip on purpose and try to stir up a lawsuit that will pay for his living expenses and drug habit. The rest will be too lazy to make the trip out of the country. I hate them intensely and hope they starve waiting for welfare checks that stopped coming as soon as CFK swings from a noose.
Obama's keeping the borders open, so he can snag the Latino vote. Though on the plus side, Mexico does have more competent workers, than certain countries run by Evo Morales. The U.S. economy isn't as unstable as here, but your president is borrowing some of the same moves from the same playbook.
After living in Argentina I realize the Democrat party use the Peron playbook. Get the poor hooked on the gov't, keep them stupid and reliant so they keep voting them back in.
Mar 15th, 2013 - 12:16 pm - Link - Report abuse 0Luckily for the USA the populations isn't as dumb and lazy as the general population in Argentina. We have a different outlook on life, we have hope that we can get rich and move up in society with enough luck and work.
Nowhere is great but the USA is the best place to live if you want to work and succeed.
The other nice thing is Obama will be gone in 3 years. It would be almost impossible to have 12 years of a Democrat President and at this point although it is early they don't have anyone to run. Obama has seen to that by keeping the limelight firmly on himself.
I wish you well and if you work you are welcome in the USA. The visa is still a huge issue but it may get fixed this year. If you are in the right age range you should try to for J visa to see if you like living here. I will tell you most Rgs don't make it here. We work too hard and they can't keep up.
BTW it is the liberal media that plays up the wealth/education gap. It has been debunked plenty of times. You never even heard about it before Obama got in office. Don't be fooled by the media, they too want to keep people poor and stupid.
The arsewipe was 9.4/1 in Punta on Tuesday this week and although one of my investments is maturing in May there is NO way I would ever get involved with The Dark Country.
Mar 15th, 2013 - 12:17 pm - Link - Report abuse 0I think Vale have done the correct thing and effectively got out of AR before they lose even more money than they have.
The argies have no concept of 'depleted cash flow analysis' and have not a clue of the implications of a negative result.
TMBOA will no doubt have a chat to the number one President in SA who will tell her it's just business.
7 Optimus
Mar 15th, 2013 - 12:27 pm - Link - Report abuse 0You'd be welcome here in Chile.
The sustained economic boom means skilled professionals are in high demand. There has never been a better time to demand good pay. Last year inflation was under 2% and average wage increase was over 6%. This year should be more of the same (although 0.5 million tonnes of copper sitting in the LME warehouse could be a cause for concern).
If you have a business start up, check out http://startupchile.org/
U$ 40,000 cash if your project is selected.
@8 That's the joy of un-checked socialism. You get everyone poor so they cannot pay for education. Then you promise them socialism and cult-of-personality myths, whilst actually delivering fascism, authoritarianism and economic failure. The last labour party in the UK tried the very same trick, and it's routinely used in Latam, China, NK, et cetera.
Mar 15th, 2013 - 12:47 pm - Link - Report abuse 0“Oh Great General Mao, look how you have delivered great socialism and communism unto us!!” = no healthcare, terrible schooling, etc.Not nearly as bad as the North Korean 'Juche', that is just being wheeled out in Argentina, however.
8 I agree with everything you said......to a certain extent. That extent being I'm not sure the USA is still THE best place to work/get rich/move up. That title may now go to Canada or Australia actually, or at least they might be tied with USA. Nobody knows yet though whether Australia's economy is sustainable, as its historically a boom/bust economy, and this is the longest boom/stable cycle its yet seen. One day in the not too distant future, Chile might pass the USA if things keep up as they are now.
Mar 15th, 2013 - 01:20 pm - Link - Report abuse 0@10 I actually really do like Chile quite a bit, and have many friends from there. My wife and I discussed it as one of a few options we might consider for moving. We fear that the damage done is far beyond economic. It's cultural, and our money is being taken to pay for other people's laziness.
Mar 15th, 2013 - 01:27 pm - Link - Report abuse 0@8 My take on the U.S. situation is, that if you're unemployed and uneducated, it's your own fault. My company sells construction software to the U.S., and you have thousands of different trades and sub-trades from administrative positions to painting walls. Each is sufficient to pay for one's living expenses. Hundreds of these trades require minimal schooling, or just field experience. There are also online schools that offer inexpensive courses that you can do at your own convenience. The obstacle for most people is like you said, work ethic.
Lastly, the media only has as much influence as you allow it to have. Just think, who's doing the writing, reliability of information, motive, and level of transparency. A person with reasonable intelligence won't fall for cheap propaganda. The following that CFK has, shows an extreme level of decay in our society. Besides, TELEM is probably the worst news agency I've ever seen.
12. Chile is too small to accept much of an immigrant population, they can barely supply enough food/energy for their own population so they will never be a powerhouse. Although I do like them a lot.
Mar 15th, 2013 - 01:37 pm - Link - Report abuse 0Canada is already slowing down, their tar sands oil is very expensive to refine and when the USA gets rocking on our new o/g over the next 8 years that boom will be gone.
Also the USA has a huge influx of Canadian Immigrants every year, since they only have 3-4 cities anyone would want to live in and there really aren't enough jobs to go around. Immigration is strictly controlled in those Provinces. But hey, if you wan to live in Saskatchewan, Alberta or PEI they would love to have you.
Australia may be on a good path it is hard to tell right now we need more time to see how it plays out. Their climate may pose to be a problem they can't easily overcome.
The USA is the only major economy in the world with a growing population. Russia/China/Japan are getting very old very fast. Russia loses 1MM people a year! You can't produce without people.
China may have an even worse problem, old population, not enough workers, inflation, property bubble, bankrupt banking system, not a lot of good news on the horizon. I think they'll have a revolution sooner than later and I hope the USA is prepared. We still need Tshirts and underwear!
@6 - 11 So it's all looking good? How far down the tubes do we think argieland really is. Yankeeboy, haven't you already said that you expect the end this year? Is there anything it could do to save itself? Be realistic. CFK can't admit that she's got it all wrong and made a complete cock-up. My main interest is the safety and security of the Falkland Islands, South Georgia and the South Sandwich Islands. And, if there is any justice, kicking the argies off Antarctica so that it can return to being unsullied. A good prospect would be if argieland couldn't build a rowing boat, much less go to sea in it. Perhaps Chile would agree to remove the argie implanted population.
Mar 15th, 2013 - 01:38 pm - Link - Report abuse 0OP
Mar 15th, 2013 - 01:41 pm - Link - Report abuse 0Have you consideres Australia or New Zealand.
13. You are right there are plenty of jobs for people that want to improve themselves, relocate and work. A lot of the unemployment numbers are filled with older people, middle management that got laid off and will probably never find a job paying what they were making but our lovely near-Socialists Dems have made the social security net or unemployment, food stamps etc too comfortable for them. I hope with the new budgets they'll fix that problem though.
Mar 15th, 2013 - 01:46 pm - Link - Report abuse 0just to clarify with the arg trolls, what country is finished ??? Have a nice day!
Mar 15th, 2013 - 01:54 pm - Link - Report abuse 0Since everything must be priced in local currency, how much would I pay for a pair of Burgundy Moccasins, at Guido's?
Mar 15th, 2013 - 01:57 pm - Link - Report abuse 0Provided the shop is still there. I love them and would make a detour through Argentina to buy 5 or 6 pairs.
Argentina's one of those countries that even before I had finished traveling it, I decided I'd never return. That's why I did it all, tip to tip, get it all in that once, because I never wanted to go back to that shithole ever again.
Mar 15th, 2013 - 02:58 pm - Link - Report abuse 0No country in my travels has been more fucked up or more annoying, except Nicaragua. I spent a small fortune in Argentina traveling. Incredibly beautiful land, and a couple of tasty treats(Bariloche ice cream (& Freddo), Patagonia trout & lamb, that's it, only a couple of notable foods, the rest is bland or garbage)...but one of the worst economies, governments, and mentalities on the planet.
“”“If I do leave Argentina, which is possible, I'll just keep working with computers. Possibly to replace someone that partied all through college, doesn't know even their own nation's history, and can't even point out 10 countries on a map.”“”
Mar 15th, 2013 - 03:09 pm - Link - Report abuse 0Come to the UK and i'd happily give you a job interview... to replace those exact fake-qualified or the “off ill for any reason” work-shy skiving b'tards who normally turn up for an interview.
(you'd be our third Argentine in fact! ¬_¬ )
@20 The decay happened so fast. 4 years ago the exchange rate wasn't far from 3 pesos per dollar. As soon as Nestor died, the insane harlot didn't have anyone holding her leash, and they already had a voting base comprised of lazy and stupid people. If you would've been here then, you might have had a better experience.
Mar 15th, 2013 - 03:28 pm - Link - Report abuse 0@21 Perhaps one of my British colleagues can give me a recommendation. Many of my colleagues are foreign because the universities aren't keeping up with the new programming languages. You have to learn those on your own, often with online college classes from the U.S.
22. The USA is in the midst of changing the H visa if you wait just a bit you'll see lot of jobs opening to foreigners in your field.
Mar 15th, 2013 - 03:41 pm - Link - Report abuse 0The decay started a long time ago with Peron the Ks just accelerated it. They have stolen at least 3 generations of your country's wealth, past, present and future. They have made Argentina into a Int'l scofflaw and a pariah.
Can you imagine how bad it must be if OIL companies are scared to invest? Good gracious they deal with all sorts of evil dictators around the world and even they won't touch CFK with a ten foot pole.
Get out while you still can.
My guess is pretty soon you'll need a visa to exit and you won't be able to bring any valuables or cash.
22 OP
Mar 15th, 2013 - 04:12 pm - Link - Report abuse 0I agree with you about the speed of decay. It is my perception too that it has been very rapid in the last 3 or 4 years. Salta “La Linda” - not much anymore and Bariloche are visibly deteriorated and run down.
Went to Uruguay recently & was getting 20 pesos for my us dollar & my companion was getting 2 for her Argie pesos ...... 10/1 sounds more realistic
Mar 15th, 2013 - 04:46 pm - Link - Report abuse 024. Usually when you travel to “boom” economy countries or at least stable countries it is noticeable because the sidewalks/roads are clean, smooth and in good repair, shops are open and busy, restaurants and hotels are new and beautiful. On my last visit to BA in this supposed “boom” economy it looked just as run down and dirty as the last time I was there maybe even worse.
Mar 15th, 2013 - 04:54 pm - Link - Report abuse 0They have squandered this “sugar high” easy money and have nothing to show for it but a bankrupt Central Bank and Retirement Account (anses) it is criminal!
and
I hope CFK, family and minions are tried and convicted for all the crimes she has committed. I hope she gets the full Mussolini.
Ouch , it's all fine in Rgland then jajajaja
Mar 15th, 2013 - 05:46 pm - Link - Report abuse 0Since everything must be priced in local currency, how much would I pay for a pair of Burgundy Moccasins, at Guido's??
Mar 15th, 2013 - 06:12 pm - Link - Report abuse 0Provided the shop is still there. I love them and would make a detour through Argentina to buy 5 or 6 pairs.
“God.Is.An.Illusion ”
Mar 15th, 2013 - 06:23 pm - Link - Report abuse 0dont you mean “God is a Delusion!”....?
rather its a pernicious meme... a bit like Argentine claims to sovereignty over the Falklands in fact.
hmmm...
yes, that is the single best description I've heard about the Argentine sovereignty claims:
pernicious meme.
(IF i do say so myself..and i do)
Asslips Kirchner opened a speech this week by saying she has been studying diabetes and her conclusion is that if you have diabetes, you eat too much and to not excercise because you are rich and cannot complain. Where in the fuck does she think up this comic material? Can you imagine Yankee if Lettermen or Leno was in Argentina?
Mar 15th, 2013 - 06:58 pm - Link - Report abuse 030. If Letterman and Leno were in Argentina they'd probably be dead or seriously injured or maybe if the bipolar was on an up day under a tax evasion audit after the 1st show mocking her.
Mar 15th, 2013 - 07:02 pm - Link - Report abuse 0She is complaining about diabetes because they have to import syringes and it's eating into the U$ she plans to abscond with soon.
Makes sense.........money over people with autoimmune diseases.
Mar 15th, 2013 - 07:06 pm - Link - Report abuse 0I think some prayers for the economy are in order:
Mar 15th, 2013 - 07:20 pm - Link - Report abuse 0http://www.reuters.com/article/2013/03/15/argentina-bonds-moodys-idUSL1N0C77MV20130315
32. When I first moved to BA I was friends with a well known journalist who was working on a story exposing the Ks finances etc. He was drugged then “fell” off of his balcony.
Mar 15th, 2013 - 07:33 pm - Link - Report abuse 0It was very sad he was in his early 30s, was well liked and had a very promising career.
I don't think it was a coincidence.
Accidents happen
especially when Dictators make them.
Comment removed by the editor.
Mar 15th, 2013 - 07:52 pm - Link - Report abuse 0Well, one has to look at both ends of the Spectrum:
Mar 15th, 2013 - 08:06 pm - Link - Report abuse 0At one end is the Argentine position where it breask-up independent news groups and actively seeks to close-down or prevent negative news about itself.
That is BAD.
At the other end you have the United Kingdom: Where the news groups own the government and tell the government what to do, and where the news groups can break-up or silence government critics of them...or, gasp, shock, horror, totally derail a lengthy 1 year investigation into Press Abuse and then side-track and derail ALL of its suggested changes, thereby utterly defeating any chance of the Press being regulated by anything other than their own greed.
That is , possibly, WORSE.
I think reaching children before the age pf four with nutrition that suppprys cognition, daily role models of life success, & guided play that allows them to EXPERIENCE their OWN success is the answer.
Mar 15th, 2013 - 08:08 pm - Link - Report abuse 0Also, breaking news: Moody's downgraded Argentina to Pakistan/Cuba.
And the bad news keeps piling up:
Mar 15th, 2013 - 08:59 pm - Link - Report abuse 0Peso $8.05/1 US today
Tax withholding DOWN 35% due to decreased Export
Arg Govt is demanding Vale keep paying the laid off employees...er um or what? I hope they were smart enough to get all their cash out of that country long ago,
They say the govt is not letting them dismantle the site either
I hope hope hope CFK nationalized it
I hope
DIlma will be so happy,
I bet Arg wont get 1 car sold into Brazil if that happens..not one
Will that make Ford and GM speed up thier exit?
probably so
Ahh I have been waiting for this time for much too long
But what about my pairs of Burgundy Moccasins, at Guido's?
Mar 15th, 2013 - 09:13 pm - Link - Report abuse 0@38 lol
Mar 15th, 2013 - 09:28 pm - Link - Report abuse 0@22 I agree about the deterioration in recent years. CFK was re-elected on the widow vote but she has not a clue how to run a country. Even people that supported her can see that now.
Mar 15th, 2013 - 10:52 pm - Link - Report abuse 0@30 I read about that. She is astonishingly stupid but I suspect Maximo is diabetic and has been told to stop eating so much and move more to lose some weight. She probably assumes all diabetes is the same.
you seek em here, you seek em there, but them arg trolls cant be seen anywhere
Mar 16th, 2013 - 12:03 am - Link - Report abuse 0I predict that the best copy of a 100 US dollar will be found in buenos Aires by 2014.
Mar 16th, 2013 - 08:17 am - Link - Report abuse 0I actually found Chile and Uruguay to be very welcoming. Argentina should be in the bottom 10 worst countries. Brazil was mediocre.
Mar 16th, 2013 - 09:08 am - Link - Report abuse 036 Anbar
Mar 16th, 2013 - 11:31 am - Link - Report abuse 0Please remind me which country you are from.
(36) Anbar
Mar 16th, 2013 - 12:52 pm - Link - Report abuse 0Good morning, Mr. Anbar….
You did hear about Mr. Murdoch, after all!
But aren’t you the same Mr. Anbar that wrote the following?:
http://en.mercopress.com/2013/03/14/argentina-furious-with-brazil-over-cancelling-of-6bn-potash-development-project#comment227950
That Mr. Anbar never answered my comment:
http://en.mercopress.com/2013/03/14/argentina-furious-with-brazil-over-cancelling-of-6bn-potash-development-project#comment227950
Maybe this new, wake Mr. Anbar will?
So as of last month the Argentine gov't was the largest withdraw (er) of U$ from their banking system.
Mar 16th, 2013 - 01:27 pm - Link - Report abuse 0If I had U$ on Argentina I certainly wouldn't have it in a bank.
Pretty soon the difference between my US$ and their U$ is bit going to be very clear cut.
Just like a few years ago I can see them saying no U$ for you all for me.
Getting ugly pretty darn fast..
Buy Sugar Rgs Buy Sugar
Comment removed by the editor.
Mar 16th, 2013 - 01:51 pm - Link - Report abuse 0Did you flee to keep from “accidentally” falling out of a plane?
Mar 16th, 2013 - 01:58 pm - Link - Report abuse 0hahaha
The thuggery never stops in the good ol' 4th Riech
And Paranoid......
Mar 16th, 2013 - 02:10 pm - Link - Report abuse 0I never fled my country to avoid “accidents”...one of us may be paranoid but it isn't me.
Mar 16th, 2013 - 02:14 pm - Link - Report abuse 0BTW it wasn't the fall that killed you it was slitting the stomach and then the fall that did it.
Nice bunch o'thugs
Dullyand fully investigated....
Mar 16th, 2013 - 02:21 pm - Link - Report abuse 0He was a Cokehead that commited suicide.
You are tripping.
It was confirmed manslaughter and no one was ever charged.
Mar 16th, 2013 - 02:38 pm - Link - Report abuse 0Very convenient I would say
Much like The missing U$ 380MM from SC investigated and shelved
yet the judge has a few more U$ to throw around
funny how the same judge gets all the Ks suspected misdeeds and
then shelves them
one would think that the judicial system is rife with corruptions
but I am sure it will all work out
once the Wicked Witch is dragged through the streets by her extensions
(53) Fred Bates
Mar 16th, 2013 - 03:04 pm - Link - Report abuse 0As I said before…. Dully and Fully Investigated
Try to keep up with the rest, cokehead.....:
http://old.clarin.com/diario/2004/03/03/um/m-718193.htm
http://old.clarin.com/diario/2004/03/03/um/m-718193.htm
http://old.clarin.com/diario/2004/03/03/um/m-718193.htm
and coroners in Argentina have a way of overlooking the 7 bullet holes of someone they say first said “slipped in the tub”
Mar 16th, 2013 - 03:11 pm - Link - Report abuse 0Who do you think you are fooling you f'king buffoon?
(55) Fred Bates
Mar 16th, 2013 - 03:15 pm - Link - Report abuse 0They are a lot of serious crimes in Argentina and in the world...
The dead of Mr. Juan Castro was no more than the dead of a Cokehead that was tripping...
As you are now.
So your going with “one more dead journalist” so who cares?
Mar 16th, 2013 - 03:55 pm - Link - Report abuse 0You are revolting
truly a disgusting vile person
(57) Fred Bates
Mar 16th, 2013 - 03:58 pm - Link - Report abuse 0One nore dead Cokehead.
No more - no less.
R.I.P.
You are disgusting and vile.
Mar 16th, 2013 - 04:06 pm - Link - Report abuse 0It is too bad the Junta missed you. If they were anything like you, I hope they got your friends and family. The world is a better place without them.
Every mercosor site I have browesed the comments section THINK has a say. Just wonder does think have a job or is this one a government paid one to try to cause chaous.
Mar 16th, 2013 - 04:10 pm - Link - Report abuse 0(59) Fred Bates
Mar 16th, 2013 - 04:34 pm - Link - Report abuse 0You are ”coming down, I can sense....
Snort another line on me.
@45
Mar 17th, 2013 - 12:22 am - Link - Report abuse 0Anbar lives in a termite hill. He can't conceive of anything beyond it therefore nothing exists beyond it.
5.10
Mar 17th, 2013 - 05:58 am - Link - Report abuse 0(59) Fred Bates
Mar 17th, 2013 - 11:10 am - Link - Report abuse 0Don't take everything sooo personally, Fred....
I can see that you got my comment (48) removed....
Just because I called you a Cokehead as Mr. Castro was....
I thought you were a mean & though “American Minuteman”, Fred....
Not a pussy New Yorker crying to the Editor about “disgusting” Mr. Think.
Chuckle chuckle...
If you want to see U.S. governance in action, Cory Booker is half-through an AMA (ask me anything) & he returns 7 p.m eastern http://www.reddit.com/r/IAmA/comments/1ahk5u/i_am_cory_booker_mayor_of_newark_new_jersey_and/
Mar 18th, 2013 - 12:44 am - Link - Report abuse 0Cory Booker is a very effective leader in a very challenging city. I wouldn't want his job.
Mar 18th, 2013 - 10:05 am - Link - Report abuse 0Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!