MercoPress. South Atlantic News Agency
Argentine official devaluation of the Peso could reach 50% in the next six months
The Argentine Peso at the official exchange rate could reach a depreciation of almost 50% by the end of the year at the current rate of erosion, which is also expected to have a downward impact on the parallel market or 'blue dollar, according to local experts. Read full article
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Disclaimer & comment rules“strong dollar” doesn't seem to help much in the real world does it:
Dec 02nd, 2013 - 03:40 pm - Link - Report abuse 0http://www.usnews.com/news/us/articles/2013/12/01/metro-north-passenger-train-derails-in-nyc?s_cid=rss:metro-north-passenger-train-derails-in-nyc
Toby, That's your reply to a Peso crash and the economic destruction of your country?
Dec 02nd, 2013 - 03:47 pm - Link - Report abuse 0Bahahaha
It is going to be a long long long time before you see a new computer again. I hope the locoturio you use has upgraded already.
It's an observation. Weren't you all talking up how superior your train systems are?
Dec 02nd, 2013 - 03:51 pm - Link - Report abuse 0This year like half a dozen deadly crashes ALL OVER Europe and in the United States.
So where is all that strong currency when you need it? Our trains run just as good as yours with our weak currency.
tobi take your mommas comforting titti out of your mouth. Is that really the best diversion that you can come up with as you watch your economy crash......only meticulously at the hands of Kicilloff?
Dec 02nd, 2013 - 04:04 pm - Link - Report abuse 0You have actually achieved a level of pity from the moronic posts you type. When mommy does or your dry up all her milk.......what will you do then? Will the government evict you from her basement?
Po0ooooooooor tobi....poor, poor tobi!
“This also means that during the month of November the dollar appreciated 4% in the official market”
Dec 02nd, 2013 - 04:14 pm - Link - Report abuse 0Yes, and that is only the start!
@4
Dec 02nd, 2013 - 04:26 pm - Link - Report abuse 0With school now coming to a close, you will enjoy my presence far more in the next couple of months, just like I deign it to you last year at this time.
Do not thank me.
Good gracious you are actually in school?
Dec 02nd, 2013 - 04:57 pm - Link - Report abuse 0Do they teach logic or economics there?
Or just a useless language degree so you can work as a bell hop in an American Hotel?
I am slowly letting, after two years here, small tidbits of our true identity. We are doing this now because of 2014. I am preparing one hell of a shocker for you all, which I am now for the first time intimating.
Dec 02nd, 2013 - 05:46 pm - Link - Report abuse 0Can't wait till next year!
@8 LOL! You told us this before. Remember your boasts about a world domination plan that was going to shock us all?
Dec 02nd, 2013 - 06:07 pm - Link - Report abuse 0Comment removed by the editor.
Dec 02nd, 2013 - 06:12 pm - Link - Report abuse 0......... and the argie trolls repeatedly tell us that it is The UK who is finished!!!
Dec 02nd, 2013 - 06:22 pm - Link - Report abuse 0snigger snigger......
Heres to another year of Argentina slipping further down the shitter....its all good!
@10 Even allowing for the fact that you are unhinged, you really should not make personal threats on an open message board. Though it does appear you are addressing yourself.
Dec 02nd, 2013 - 06:28 pm - Link - Report abuse 0Tobi let's pretend that you really are in Argentina......do yourself a favor and use the millions of shrink available there because you are in serious need of head shrinking. You are beyond unhinged......you need meds.
Dec 02nd, 2013 - 06:33 pm - Link - Report abuse 0@12
Dec 02nd, 2013 - 06:38 pm - Link - Report abuse 0I said it would shock you, not harm you!
Where was the threat, paranoia much? My project is 100% for my benefit, and will disturb no one. The reason it will shock all of you is because you people detest being proven wrong by inferiors, i.e. non-Anglos, and are a very jealous, intolerant race.
That's not my fault, but I will use it for my wild amusement sometime next year.
@13 It is laughable that TTT thinks he can shock me (most of all). If he had any idea of the countries I have worked and under what conditions, he would understand that one disillusioned and disenfranchised school boy has no power to shock me. *sigh* I do worry about his sanity.
Dec 02nd, 2013 - 06:42 pm - Link - Report abuse 0Letting the peso move towards its correct value is a step in the right direction.
Dec 02nd, 2013 - 06:57 pm - Link - Report abuse 0A controlled devaluation softens up the terrain nicely for all the foreign investment that is needed.
I cannot forget that DanyGerber wrote once (almost a month ago) “Argentina is no in a crisis”....
Dec 02nd, 2013 - 07:23 pm - Link - Report abuse 0TTT...“we don't need the world”..We don't need you“...”We don't need Europe“...”We want to be alone”....just give me your U$D. That's it.
I think TTT is hoping for a GCSE in stupidity.
Dec 02nd, 2013 - 07:40 pm - Link - Report abuse 0Want to shock us tobi?
Dec 02nd, 2013 - 07:40 pm - Link - Report abuse 0tell us you are the bastard love child of Christina and Maximo.
Tell us Bug Eyed Nestor is your DADDY
otherwise....don't get your hopes so high.
Nostrils says:
Dec 02nd, 2013 - 07:57 pm - Link - Report abuse 0“I am slowly letting, after two years here, small tidbits of our true identity. We are doing this now because of 2014. I am preparing one hell of a shocker for you all, which I am now for the first time intimating. ”
Well considering he let slip this week that he was in Grade 5 just after 2001 on another thread, that would mean that all he has recently let slip out is that he is in his early 20s.
http://en.mercopress.com/2013/11/28/north-west-england-trade-mission-scheduled-to-visit-chile-argentina-and-brazil#comment289860
So his claims for starting to uni this year seem a little incongruous especially considering he has totally forgot to mention it for most of the year.
“We are doing this now”
Multiple personality disorder!
We will all wait with bated breath for this shocker. It will probably flop as much as your major absence for a whole 10 days at the start of the year. Your absence and reappearance certainly passed almost unnoticed.
@20 We have heard all this before haven't we? The big event the we would all be sorry about for ever more.......... The final proof that TTT is an evil genius and the world will kneel at his feet....... It is sad that he keeps humiliating himself but maybe that is his purpose for coming here.
Dec 02nd, 2013 - 08:03 pm - Link - Report abuse 0We know a lot about TTT because he is his major topic of conversation.
21) Maybe Elaine Bond has found her Dr No .....
Dec 02nd, 2013 - 08:34 pm - Link - Report abuse 0;-)
@22 LOL!!! Maybe. Does anyone know if TTT has a white cat? (Or is that the wrong movie? I have never seen a Bond film).
Dec 02nd, 2013 - 08:41 pm - Link - Report abuse 0You are thinking of this guy http://en.wikipedia.org/wiki/Ernst_Stavro_Blofeld
Dec 02nd, 2013 - 09:00 pm - Link - Report abuse 0He was not Doctor No. I think there was a partly Argentine villain in the Pierce Brosnan generation of movies, im not sure.
Since the subject of movies was brought up... Why do the North Americans always portray the WICKED, DEVIOUS, DUPLICITOUS, FURTIVE, SKULKING, SURREPTICIOUS, KNAVISH, GUILEFUL bad guys with BRITISH ACCENTS?
Dec 02nd, 2013 - 09:21 pm - Link - Report abuse 0Are they also all wrong about you, just like us argentines are? And the French? And the Germans? And the Spanish? And the _____?
That's one he!! of a string of coincidences then.
@25 Yes, they did used to. Before the British villain it was the Russian villain and now it is more likely to be an Arab baddie. Such is life.....
Dec 02nd, 2013 - 09:39 pm - Link - Report abuse 026) Mmmm I'm not that sure its that over Holywood is anti-British, but then a lot of British actors given the hero characters (and are americanized too). GoT is very British
Dec 02nd, 2013 - 09:47 pm - Link - Report abuse 0@27 And those awful Richard Curtis romcoms are very British and bafflingly popular in the US, as is Downton Abbey.
Dec 02nd, 2013 - 10:06 pm - Link - Report abuse 0Once I met an American couple who told me they avidly watched a documentary series all about people living in London called Eastenders. LOL. I gently explained it is a soap opera.
28) As a consumer of english speaking movies, I just cant accept that easily a American accent when the film is contextualized in the middle ages or fantasy like enviroments. You can notice a US actor playing the British paper but not viceversa...
Dec 02nd, 2013 - 10:24 pm - Link - Report abuse 0Ohh Btw you will be surprised to know this you know which is one of CFK's favorite movies and the main character she feels so identified with ???
Clue its not Daenerys Targaryen which she likes too
http://ar.noticias.yahoo.com/blogs/voz-baja/la-pel%C3%ADcula-que-enloquece-cristina-la-c%C3%A1mpora-recauda-152308649.html
@CD
Dec 02nd, 2013 - 11:56 pm - Link - Report abuse 0It is strange that CFK identifies with Elizabeth I. Elizabeth lost Calais yet still increased British prestige and power in the longer term. Perhaps deep down CFK realises that forgetting the Malvinas would actually restore Argentina's reputation rather than harm it!
30) Its strange indeed considering CFKs rethoric and taking into account all what the Virgin Queen represents; a very English monarch that inaugurated the rise of the British Empire and replacement of the Spanish one, Capitalism also was championed and secured during her reign. The film has of course very powerful scenes like when the Spanish Armada is destroyed and Elizabeth wakes up in her tent at dawn and watches it burn from the cliffs of Dover (total historical inaccuracy of course) but it is clearly nationalistic. Obiously, Cristina has some sort of Napoleonic delusion to identify with Elizabeth and the Dragon girl of GoT .
Dec 03rd, 2013 - 12:46 am - Link - Report abuse 0PS. It was during the reign of the Catholic Queen Mary that French conquered back Calais after a disastrous campaign by her husband the nephew of the Spanish Emperor against France.
@31 Such a fascinating time in history and Elizabeth 1 deserves her place in history as a great queen.
Dec 03rd, 2013 - 01:10 am - Link - Report abuse 0The only comparison between Elizabeth 1 and CFK would be their famed tempers. Can't think of anything else.
32) You forget something ....Both of them clashed whith the same enemy, Spain
Dec 03rd, 2013 - 01:23 am - Link - Report abuse 0;-)
@CD
Dec 03rd, 2013 - 08:10 am - Link - Report abuse 0You are quite right about the Armada. In fact there was an excellent documentary here last night about shipwrecks around the UK coast that pointed out that the “defeat” of the Spanish Armada was really just a mass shipwreck and the Elizabethan spin doctors quickly rewrote the event as a huge tactical victory for the Queen. Even her famous speech at Tilbury docks happened after not before the contact i.e. only once they knew the invasion had failed! Perhaps CFKs speech when the Libertad returned was inspired by Elizabeth's Tilbury speech - especially given that both claimed credit for something that wasn't really their doing. Anyway, excellent knowledge of British history CD!
You are also right that Mary initially lost Calais but it was Elizabeth who failed to regain it and had to accept defeat, do a deal and move on. Despite the setback and liberated from a conflict she couldn't win, she then achieved all the other things you listed. That was the comparison I was drawing.
@26 The situation is quite easy to understand. The British “accent” is easily recognised by Americans. What they don't know how to figure is the nationality involved. Having been to the US a number of times, it is normal for Brits to be “mistaken” for Australians, Canadians and even New Zealanders. The other aspect is ability. Americans are very good at playing “heroes”. It's not difficult. Give them a gun, a number of stock phrases and some “heroic” poses and it's job done. Playing a “villain” is far more demanding. Take “Die Hard”. Bruce Willis did okay. Remove shirt, lose shoes, produce gun, remember the word “motherfucker” and it's job done. Compare Alan Rickman. Urbane, understated, witty “Mr Tagaki will not be joining us for the rest of his life”. But unmistakably dangerous. Always, always, always understated. Pity you've never watched a Bond film. Back at the beginning, with Sean Connery and Roger Moore, they are classics of British understatement. The same virtue of understatement could be seen in 1982. “Be pleased to inform Her Majesty that the White Ensign flies alongside the Union Jack in South Georgia. God Save the Queen.” Says it all. Argies defeated and surrendered. British naval (Royal Marine) forces victorious. British territory recovered. Sovereignty of the British Crown re-established. Don't need all that latino chest-beating.
Dec 03rd, 2013 - 10:30 am - Link - Report abuse 0Elizabeth 1 really did have some great spin doctors including the great Tudor propagandist Shakespeare. Maybe that is what CFK lacks, anyone credible spinning her lies.
Dec 03rd, 2013 - 11:51 am - Link - Report abuse 0The only reason the delta between the official and blue price of the peso is diminishing is that the AR government is spending its dollar reserves to buy dollars. At the current rate of such tactics AR will spend all its dollar reserves within a year (2 at the most). As the dollar reserves approach zero, the sh*t will really hit the fan because AR will not be able to borrow or import what it little it does now and will otherwise be unable to acquire goods on credit. The dollar will go up again and the country will be worse off than ever. That will be especially true for the retired folks living on government stipends (ANSES?) who won't be able to live decently on what their pensions will buy.
Dec 03rd, 2013 - 12:02 pm - Link - Report abuse 0To the extent the contributor here, the (Truth Pa) troll, is other than a commonplace troll (unlikely given the disingenuity of its posts), the best that can be said about such nutty jingoistic babbling which attempts to defend the failed policies of the CFK government (while concomitantly heralding the supposedly superior Argentine national character) is that it is whistling in the dark. The worst is that the guy is suffering from a serious bunker mentality that has resulted in a permanent state of delusion.
Arg may have lost the battle and this so called controlled depreciation may be getting away from them.
Dec 03rd, 2013 - 12:28 pm - Link - Report abuse 0Even spending U$120MM/day to support it isn't working.
A HUGE DEPRECIATION has just occurred with the HUGE “tax” on various foreign and import purchases.
They won't be able to keep spending the U$ with wild abandon.
Where will it end?
Hyperinflation I imagine
34)Well I actually wasnt mentioning refering to the Tudor spinning but the 2007 one ;-)
Dec 03rd, 2013 - 12:35 pm - Link - Report abuse 0You take this scene I was mentioning...
http://www.youtube.com/watch?v=d-7GoyusdtQ
She sees from the English coast a battle that occurs in the French/Belgium coast, the Spanish Armada in flames.... The English Navy attacked with fire ships the Armada that is true, but not a single Spanish vessel was turned to light in the Gravelines (1588)!!. What they actually achieved was to break the Spanish formations and with help of the weather they would remain scattered into the following weeks and by doing so it would force them endure and start the whole North Sea voyage and by pass Ireland to return to Spain. They never managed to pick up the Catholic armies that they were supposed to fetch in the Spanish Low Countries for the invasion of England.
Stop press - Argentina falls 4 places in the Global Transparency Index and is now rated in 106th place sandwiched in between Moldova and Gabon. Lol.
Dec 03rd, 2013 - 02:03 pm - Link - Report abuse 0@38 So, are you saying that the market is leading the devaluation rather than the government? After all, it was government policy (until recently) that there would be NO devaluation...
Dec 03rd, 2013 - 02:26 pm - Link - Report abuse 041. Yes quite a surprise the gov't can't control everyone's actions.
Dec 03rd, 2013 - 02:54 pm - Link - Report abuse 0The peso will be the worse performing currency for 2013.
Probably 2014 too.
Funny how the Rgs think you can devalue your way to prosperity yet never in the history of fiat currencies has that ever happened.
Not even with the what 14 currencies they've had since independence.
They'll never ever learn.
@37 owl
Dec 03rd, 2013 - 03:28 pm - Link - Report abuse 0I have to disagree with your first paragraph. The Arg government has been maintaining the value of the peso “artificially” high through use of reserves, but this action increases the gap between blue and official.
The fact that the official peso is now devaluing and the blue peso is coming down means the gov't is committing less to maintaining the artificial rate.
This is tough for the everyday Argie, but it is the right and very un-CFK thing to do.
@41 Welsh
That was pre-blood clot policy. It is all change now. Now it is: devalue, make the country cheap, settle outstanding legal disputes and get investment in. Argentina is on sale in the bargain basement!
Spanish banks and Chilean pension funds stand by.
@ 42 yankeeboy
Dec 03rd, 2013 - 04:10 pm - Link - Report abuse 0Unless you are talking about the reserve currency whereby the Fed(s) are allowing massive debt knowing that inflation will diminish the real value.
I think it's the nearest thing to having your cake and eating it that a country can get.
@44
Dec 03rd, 2013 - 05:47 pm - Link - Report abuse 0Yeah, everyone with a bit of training and mental toughness can plow down 10-20 hot dogs, or 2-3 birthday cakes and pretend the rules of digestion are different for you.
They are not, you eventually pay the price.
the USA will pay the price, and when it does there is absolutely nothing they will be able to do, since it will be a flood of trillions of dollars coming back at them, basically bankrupting the country overnight. It will be calamitous for them.
@43 The AR govt is propping up the peso against the dollar by buying dollars (via bond purchases - see today's BA Herald for details). By buying dollars en masse the govt keeps the peso artificially high against the dollar. That decreases the gap between blue and official. I don't comprehend your assertion that the contrary is true.
Dec 03rd, 2013 - 06:39 pm - Link - Report abuse 0@ 44 the troll ...blah blah blah
p.s. No one wants the AR economy and social structure to fail, least of all resident relatively well off expats like me who don't want to get caught in the elevator when there's a power failure, but the road to hell is paved with good intentions. Unless CFK adopts more effective, farsighted fiscal policies her attempt to redistribute the wealth more equitably ( a laudable goal) will continue to fail. She strives to be Eva Peron but should be seeking to emulate Angela Merkle.
p.p.s. Is Aerolineas paying cash to refuel its airplanes outside AR? Absent a change in the “model” those days will soon reappear.
p.p.p.s. What's the rate of inflation in the US these days? Despite an easy monetary policy and an obscenely bloated defense budget the Yanquis are managing to remain the safest harbor to store acquired wealth.
p.p.p.s. What's the rate of inflation in the US these days?
Dec 03rd, 2013 - 07:27 pm - Link - Report abuse 0Overall low, 1.4 % over the past year. However, some categories:
Housing 2.2%
Clothing 1.8%
Communications 1.6%
Recreation .3% go figure
Energy 8.6%
Food 1.4%
Medical 2.6%
fuel however is in a downward trend. This summer I was spending about $3.90 a gallon and today is is around 3.39 and was still dropping. However with Christmas it will level off then spike a little.
@ 21 ElaineB
Dec 03rd, 2013 - 07:49 pm - Link - Report abuse 0Hey, evil plots don’t just hatch themselves you know.
And he would have got away with it last year, if it weren’t for those pesky kids.
Woof Woof!
@ 37 owl61
Not sure how much of his own (The Truth PaTroll) posts he actually believes, probably still has lucid moments.
More a case of monkey see monkey do, he tries to be the Argy Conqueror.
Except he lacks the Mengele touch.
45.
Dec 03rd, 2013 - 08:02 pm - Link - Report abuse 0Apparently an uneducated slum dweller in a backward province of a 3rd world country knows more about high level economics and finance than The US Fed.
You are ridiculous.
@48 LOL.
Dec 03rd, 2013 - 08:46 pm - Link - Report abuse 0He has gone awfully quiet about his plan.
@46 owl
Dec 03rd, 2013 - 11:11 pm - Link - Report abuse 0The Arg government has been propping up the peso for some time, but the reducing gap between blue and official suggests that they have stopped that. A few months ago it was 10 to 5 now it is 6 to 9. The peso is being devalued.
@ 50 ElaineB
Dec 04th, 2013 - 07:31 pm - Link - Report abuse 0Probably had half the Spooks in the western hemisphere zero in on him?
Being “special renditioned” to Gitmo as we speak, for some serious waterboarding under Conquerors gentle tutelage.
Well, if we’re going to fantasise, why not go the whole hog.
@51 Condorito
Propping up the currency is probably where much of the reserves have been going.
Margaret Thatcher always said, “you can’t buck the markets”.
I misspoke earlier. Sorry. Above I wrote that the AR govt has been buying dollars. I meant to say they have been buying pesos (peso denominated bonds) with its dollar reserves. Such tactics would keep the lid on the blue. The blue price will be higher as soon as dollar reserves dwindle to the point where the AR govt can no longer buy the bonds.
Dec 05th, 2013 - 09:00 am - Link - Report abuse 0(I have recommended that this site allow an edit to posted comments)
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