MercoPress. South Atlantic News Agency
US dollar reaches new record in Argentina; the 'Dolar Demichelis' forecasted
The US dollar in the informal market reached a new record high against the Argentine Peso at the end of trading on Tuesday. Earlier in the day the Central bank reported the biggest one-day drop in its international reserves since July 30. Read full article
Comments
Disclaimer & comment rulesCretina/Elvis/Cap/Tim: Time to add a zero.
Sep 17th, 2014 - 07:35 am - Link - Report abuse 0Circling the drain ever faster. But at least you're circling anticlockwise, eh?
Sep 17th, 2014 - 08:02 am - Link - Report abuse 0Has the dolar blue ever been 100% above the official rate?
Sep 17th, 2014 - 08:59 am - Link - Report abuse 0It's so hard to remember as its trajectory is only one way.
The assets of the Central Bank deteriorates: the debt issued by the bank already exceeds the reserves.
Sep 17th, 2014 - 10:12 am - Link - Report abuse 0http://blog.dolarblue.net/2014/09/se-deteriora-el-patrimonio-del-bcra-la.html
You just cannot believe the U$D 28 Bn figure is in liquid assets: it's in script at best.
Sep 17th, 2014 - 11:07 am - Link - Report abuse 0I think we are seeing the count-down to a blasting of the real economy to actual physical meltdown of epic proportions.
But TMBOA has worked for it and deserves the wire noose and the sooner the better.
What's the logic behind the minimum salary required to buy dollars? I can't see the purpose of that type oy discrimination
Sep 17th, 2014 - 11:19 am - Link - Report abuse 0Big companies are starting to declare bankruptcy, Companies poor ol' Toby uses as a guarantor to Mendoza's stability.
Sep 17th, 2014 - 12:03 pm - Link - Report abuse 0haha
As I've been saying this is going to get much worse. On Sept 30th they will have a cross default.
No way no how can they think of trying to bridge their collapse until Jan 1st. When they've budgeted to pay the holdouts.
Because by then the rest of the debt will have been accelerated and due.
I love watching this,
Love it.
I think today we'll see 15/1. I kinda miss Think. I wonder why he's not around. Probably out handing out YES leaflets is my guess.
@6 It is an easy money maker for people. Buy dollars through the official channel then sell them on the street for 40% more.
Sep 17th, 2014 - 12:05 pm - Link - Report abuse 0Now they are wanting to put the La campora idiots in the preschools to indocturnate our kids.
Venezuela here we come.
I've heard the devaluation is coming in between 10 12, of course only the “fixed” official rate......in the coming weeks. yb is correct......15/1 very soon.....maybe even 16/1 just before 9/30....Argentina's 2nd missed interest payment. Can anyone say 20/1 for 12/31/2014?
Sep 17th, 2014 - 12:24 pm - Link - Report abuse 08 Klingon
Sep 17th, 2014 - 12:35 pm - Link - Report abuse 0So are they assuming that wealthier people won't choose to do that?
@10 Not as much as the wealthier people are hording their USD as always.
Sep 17th, 2014 - 12:43 pm - Link - Report abuse 0poor peasants= Quick buck middle class = longer term investments.
There's money to be made at the moment with the exchange rate difference if you know what you are doing.
9. The problem with only devaluing to 10-12 is that they are so far below the real rate it won't make one bit of difference.
Sep 17th, 2014 - 12:44 pm - Link - Report abuse 0They really should get ahead of the real rate and then let it catch up.
What is funny is they keep doing the same things over and over no matter if they didn't work the last time.
Insanity
I started watching the “green” rate which is the street rate, probably even a little lower than what the real street trades are and last night it was 14.92 so I don't see why it won't be over 15 today.
This huge decrease in buying power is going to have an even greater effect on inflation.
If they don't soon fix this mess the days of 2 digit inflation are over.
Now they are trying to introduce the hoarding law to force farmers to sell their soy so they govt has some spending money.
Sep 17th, 2014 - 01:02 pm - Link - Report abuse 0I know what I would do if I had my wealth tided up in a silo.
Dig a massive trench around the silo and turn it into a swamp! There no way any truck can get in there to take the grain.
Rip out all the grain elevators also. Problem solved!
Inflation in the UK down to 1.5%, that is per year.
Sep 17th, 2014 - 01:07 pm - Link - Report abuse 0Also, Unemployment fell to a 6 year low.
Oh and you get just over 1 Dollar & 60 cents for a Pound.
Come on Trolls, do your worse...
@14
Sep 17th, 2014 - 01:19 pm - Link - Report abuse 0Did you enjoy the sunrise? If not, please do so tomorrow.
Maybe the last sunrise in United Kingdom history.
@15
Sep 17th, 2014 - 01:48 pm - Link - Report abuse 0The UK has currently four parts,
maybe by Friday it has just three,
perhaps still four.
That is the choice the Scottish people have.
It's called democracy.
A pity Argentina doesn't respect the democratic wishes of the people of the Falkland Islands, to remain a British Overseas Territory.
@16
Sep 17th, 2014 - 01:54 pm - Link - Report abuse 0True. Sadly, they are our Chagossians, without the ethnic clensing part.
@17 - This really isn't as big a deal as you make it. If they leave then good to them. It isn't going to change our lives. The Scots are the ones who will notice the most changes. In the end, it is their decision and, while many of us would like to see them stay, we are pretty ambivalent in the end. Maybe try and find a different subject on which to base your retorts.
Sep 17th, 2014 - 02:29 pm - Link - Report abuse 0How can the end of your country not be a retort point? Seriously... you guys would be all over it flooding this website if Patagonia, or Cordoba were voting for independence tomorrow, MAKING FUN of Argentina.
Sep 17th, 2014 - 02:32 pm - Link - Report abuse 013. I've previously predicted an on farm storage tax for retained production. In the informal balance sheet in Elvis's back pocket, the taxes on these sales are already banked. With commodity prices now poised to plunge with a burgeoning current year glut, these proceed won't meet projections. Fuel on flame.
Sep 17th, 2014 - 02:47 pm - Link - Report abuse 0As things stand , millions of hectares are under water in Buenos Aires .
Sep 17th, 2014 - 02:58 pm - Link - Report abuse 0Firstly , there will be little to confiscate , and what there is will be difficult to reach because of the state of the dirt roads being under water .
Things are truly dire , unless you live in Planet Campora like these trolls .
Tobi If I buy 735,500 pesos for U$50,000 (14.70), where can I exchange them for U$ 87,292 @ 8.42......maybe Uruguay?
Sep 17th, 2014 - 03:12 pm - Link - Report abuse 0@8
Sep 17th, 2014 - 03:21 pm - Link - Report abuse 0“Now they are wanting to put the La campora idiots in the preschools to indocturnate our kids. ”
Looking on the bright side, the troll will finally be employed. ;)
Everyone who I know (in Argentina) sends their kids to parochial or private school for that reason alone.
Sep 17th, 2014 - 03:43 pm - Link - Report abuse 0Along with kissitoff”s economic wizardry, they (peronista's) founded a new organization:
http://theflatearthsociety.org/cms/
15.17/1
Sep 17th, 2014 - 04:35 pm - Link - Report abuse 0That was fast!
And the day's not over.
Cue BCRA sending bags of U$ to FL ST to try and tamp the run.
That and an “anti-hording” law, whatever that is might as well call it the law of confiscation.
Think there's any connection?
duh
Rgidiots
I think I coined the term here long ago
:)
@ 22 Captain Poppy
Sep 17th, 2014 - 05:22 pm - Link - Report abuse 0Uruguay cambio exchanges no longer touch the argie pesos, it's far too volatile.
BROU are valuing argie pesos at 18.35 to a USD but that is only because the government are suporting The Dark Country but it's just nonsense really.
So you would lose money from the off.
I really wouldn't try that anyway.......just busting tobi's chops. When I go to Argentina I only exhange dollars for pesos as little as possible and and at blue rate via family sources. I never do it at Florida, though they always hassle you if you walk through the area.
Sep 17th, 2014 - 05:28 pm - Link - Report abuse 0@27 and you run the risk of one of the money changers mates mugging you further down the street...
Sep 17th, 2014 - 06:07 pm - Link - Report abuse 0Exactly.......I use sort of a private banker.......lol
Sep 17th, 2014 - 06:13 pm - Link - Report abuse 0Yup. Me too. One that the family know and you can only get introduced to via a trusted contact. Ironically, in this case, the branch manager of the local bank!
Sep 17th, 2014 - 06:27 pm - Link - Report abuse 0lol I hear yea....same deal here. I typical only change 500U$ into pesos at a time.
Sep 17th, 2014 - 07:05 pm - Link - Report abuse 0arbolito 15.20
Sep 17th, 2014 - 09:12 pm - Link - Report abuse 0Unless they get out with there suitcases it can hit 16 by Friday
Sep 17th, 2014 - 09:14 pm - Link - Report abuse 0Captain Poppy and Welsh Wizard I might need to pick your brain son that if I do my exchange to a university in Chile and decide to have an extremely cheap holiday in Argentina.
Sep 17th, 2014 - 09:50 pm - Link - Report abuse 0Glad I don't eat much bread because at the rate things are going we ain't going to have fuck all on the shelf at the panaderia!
Sep 17th, 2014 - 09:54 pm - Link - Report abuse 0@24 Unfortunately not even private schools are safe from indoctrination.
Sep 17th, 2014 - 10:04 pm - Link - Report abuse 0cristine
Sep 17th, 2014 - 10:44 pm - Link - Report abuse 0do you really live in uruguay?
http://www.cronista.com/finanzasmercados/Dolar-frontera-en-Salta-se-consigue-a--1405-y-en-Montevideo-a--1420-20140917-0008.html
@34
Sep 17th, 2014 - 10:47 pm - Link - Report abuse 0Ah yes, a holiday in Argentina! ;)
http://www.buenosairesherald.com/article/169989/tourist-records-live-robbery-attempt-in-ba-city--watch-video
Austral Elvis is shocked, shocked I tell you, that the Peso is over 15/1 Shocked!
Sep 17th, 2014 - 11:00 pm - Link - Report abuse 0Says there's no reason for it.
Doesn't make sense ( to him)
And must be a Vulture Coup
Sheesh
and they wonder why everyone laughs at them.
I guess Axel finds it's hard to tell whats actually happening on the street in BA when his head is so far up Kristina's ass he can lick kristina's tonsils.
Sep 18th, 2014 - 12:12 am - Link - Report abuse 0Come on YB, he has to blame someone.
Doesn't Axel Kiciloff argue that flooding the economy with fresh printed money has no effect on inflation?
Sep 18th, 2014 - 12:39 am - Link - Report abuse 0Maybe it does. Maybe having all those pesos out there makes people able to bid more for American Dollars.
Slimy Dictator's and their minions always blame the USA for their bad decisions.
Sep 18th, 2014 - 12:41 am - Link - Report abuse 0I wonder if tomorrow it'll be 16/1.
The only way is up, baby...
Hold on, Hold on, Hold on
Won't be long....ooooo
Sep 18th, 2014 - 06:10 am - Link - Report abuse 0@38. Yeah, apparently that is becoming more and more common. I hope the greasy piece of shit is caught.
Sep 18th, 2014 - 06:36 am - Link - Report abuse 0@34 I think you will love Chile if that is your choice. So much to see.
38
Sep 18th, 2014 - 12:18 pm - Link - Report abuse 0yes, guess a holiday in england is a lot better :)
“Bad Samaritans' guilty of robbing injured student Ashraf Rossli during London riots Ashraf Rossli had his jaw broken in two places prior to ...”
https://www.youtube.com/watch?v=3WcrnqZr0l0
but the best part is this:
“Now gloating thugs cleared of robbing Malaysian student during London riots want payout”
@45
Sep 18th, 2014 - 12:36 pm - Link - Report abuse 0Thanks for the tip, Paul, I'll avoid there as well. ;)
38. Argentina has long been off the radar for Northern travelers. Its too far, too expensive for what you get and dangerous.
Sep 18th, 2014 - 12:41 pm - Link - Report abuse 0Maybe that will fix itself when they are coming out of the next collapse.
My guess is the street crime has reached a tipping point and it will looks more like Caracas every day.
BTW the police are involved in most of the crime there. Citizens don't bother reporting and are scared of the Police.
Gonna get much worse before it ever gets better.
@47
Sep 18th, 2014 - 12:52 pm - Link - Report abuse 0That's been my impression for some years now, and more's the pity. I have an interest in Argentine history, but the places I would want to see are in what now appear to be the most lawless areas, ie the central to western provinces. I'm thinking I will be visiting Paraguay before I go to Argentina, but even that will mean waiting some years for things to get better. On the upside, Paraguay now has less crime than Argentina, although the same complaints you mention are valid there as well.
48. I wanted to go to Paraguay when I lived in BA but there are only a couple of decent hotels and they really weren't decent enough for me.
Sep 18th, 2014 - 01:04 pm - Link - Report abuse 0Although I would still like to see it someday. I only have Venezuela and Paraguay to check off my list and I am done with S America.
“Paraguay now has less crime than Argentina, although the same complaints you mention are valid there as well.”
Sep 18th, 2014 - 01:15 pm - Link - Report abuse 0that´s because a lot of paraguayans, bolivians, peruvians, chileans and some uruguayans, criminals in many cases, have invaded argentina in the last 14 years.
guess this useless gov´t has to change its immigration policies, or at least start to send those thugs back to their respective countries.
In my experience the Rg Police stand on their assigned corner smoking cigarettes and talking on their phone waiting around for an someone to point out to rob.
Sep 18th, 2014 - 01:21 pm - Link - Report abuse 0@50
Sep 18th, 2014 - 01:25 pm - Link - Report abuse 0But Paul, isn't that the way it's always been in Argentina? Not the problems themselves, but the attitude, “Blame it on the immigrants?”
imoyaro
Sep 18th, 2014 - 01:35 pm - Link - Report abuse 0yes, it is in our genes.
Okay, back on topic here, as if they weren't already going after banks and sellers of “blue” dollars. I really don't think this is going to help economic stability.
Sep 18th, 2014 - 01:40 pm - Link - Report abuse 0http://www.buenosairesherald.com/article/170070/capitanich-takes-aim-at-banks-for-illegal-dollar-operations
Oh I get it that was a bike tour company and someone forgot to pay their protection insurance.
Sep 18th, 2014 - 01:57 pm - Link - Report abuse 0That's how it happens in those type of places..
@44 Fortunately he was caught, hopefully he ends up in jail but I doubt it, sadly the justice system works in favor of criminals...
Sep 18th, 2014 - 02:06 pm - Link - Report abuse 056. That video will probably keep 5000+ people from visiting BA.
Sep 18th, 2014 - 02:11 pm - Link - Report abuse 0That and American Airlines.
Sep 18th, 2014 - 02:55 pm - Link - Report abuse 058. You can add BA to that list.
Sep 18th, 2014 - 03:22 pm - Link - Report abuse 0Just the first of many I imagine
Seems they were out on Florida ST with bags of money again. Must be doing wonders on the reserves. Without the ability to pay come 9/30, they will have some extra money to beat back the U$ from eating the peso.
Sep 18th, 2014 - 04:42 pm - Link - Report abuse 0Commenting for this story is now closed.
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