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Peru Just Entered The Currency Devaluation Race... Yes, Peru

Tyler Durden's picture




 

BN  11:42 *PERU CENTRAL BANK ANNOUNCES U.S. CURRENCY PURCHASE ON WEBSITE
BN  11:42 *PERU CENTRAL BANK BUYS U.S. CURRENCY AT 2.7870 SOLES/DOLLAR
BN  11:42 *PERU CENTRAL BANK BUYS $156 MILLION IN FOREIGN-EXCHANGE MARKET

At least Peru stocks are surging. The wealth effect to the 20 people who hold them is palpable. Apple is already laying the groundwork for its latest store in Lima.

 

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Fri, 09/24/2010 - 14:48 | 603042 Howard_Beale
Howard_Beale's picture

Is Netflix getting ready to go live there too?

Fri, 09/24/2010 - 14:49 | 603046 Hephasteus
Hephasteus's picture

LOL

Fri, 09/24/2010 - 14:51 | 603055 hedgeless_horseman
Fri, 09/24/2010 - 14:52 | 603062 Hephasteus
Hephasteus's picture

Great song. Perfect amount of cowbell. There has been only decline since.

Fri, 09/24/2010 - 14:51 | 603059 goldmiddelfinger
goldmiddelfinger's picture

Even Rush Limbaugh sees the equity pump as a Fed election prop!

Will the last guy in the pool bring the plugged in radio.

Fri, 09/24/2010 - 15:36 | 603205 cartonero
cartonero's picture

+120v

Fri, 09/24/2010 - 16:12 | 603289 SheepDog-One
SheepDog-One's picture

I agree, this Sept 900 point pump on the DOW and others has about 2 weeks left before they see it causes no bump in poll numbers, and in fact is just pissing the people off more. This is not a long term plan, word came to 'pump those markets no matter what I dont care how' and it will bite them all in the ass hard. Oct 10th if they havent seen significant improvement in the peasantrys insolence, its Plan B time baby.

Sat, 09/25/2010 - 08:26 | 604156 Rick64
Rick64's picture

 I think the pump is for the big players not the common man. Elections are a media event .

Fri, 09/24/2010 - 14:56 | 603077 Cognitive Dissonance
Cognitive Dissonance's picture

The last flush has begun. Now all that's left is to determine who sleeps with the turds. I say all of them.

Fri, 09/24/2010 - 14:58 | 603084 VWbug
VWbug's picture

shit i hope they have some success, i'll be visiting peru (and brazil, colombia and bolivia) soon.

i could be wrong, but i'd bet apple already has a place in the stunning Larcomar complex overlooking the ocean.

Oceanfront condos going up by the dozens in miraflores, san isidro and barranco. Reasonably priced too.

Peru has a shot at a great future if they keep it up.

 

Fri, 09/24/2010 - 15:43 | 603227 ZeroPower
ZeroPower's picture

It might be obvious, but FYI, stay in Lima at least 2 days. Amazing place.

Oh and good luck with bus schedules (or any schedule), time is but a suggestion in most of S.A.

Fri, 09/24/2010 - 16:00 | 603259 VWbug
VWbug's picture

the places i mentioned are suburbs of lima, i have been there several times before.

if you have not been to barranco, i suggest you try it next time, nice bohemian little burb, walking distance to the beach. it's where the 'puente de los suspiros' is.

i have all the time in the world, so looking forward to waiting for some buses and chatting with some locals.

I'll do machu picchu this trip, and maybe iquitos, and a few small towns here and there.

can't wait to get there. weather here in TO is still great, but i'm getting bored.

 

Fri, 09/24/2010 - 16:27 | 603330 DoChenRollingBearing
DoChenRollingBearing's picture

Peru is a great place.  I met my future wife (Peruvian) in Cuzco.  And we have our bearing import business there in Lima.

Barranco is nice as is Miraflores.  Always be alert though.

Anyone who has lots of time can take a bus up into the Andes, they are much bigger and more interesting than our Rockies.

Arequipa is a very nice city at about 7000'.  It is a great place to acclimate before going to Cuzco (10,500').

I have been to Pucallpa and Iquitos, both Amazonian cities are very interesting.  You can arrange to have locals take you out into the jungle (my first trip we spent two nights sleeping under mosquito netting in the jungle).

Most Peruvians are very friendly.  Learn as much Spanish as you can before you go for best results!

 

Sat, 09/25/2010 - 11:02 | 604241 VWbug
VWbug's picture

i wasn't planning on too much time in cuzco, but i'll see how it goes, as i have been reading a few things that say it's really pretty nice. I thought it might just be touristy.

i'm almost fluent in spanish, will take a few lessons while there as well. I know how to behave, i've travelled extensively in colombia without any problems, so far anyway!

I also have a few peruvian friends, they are wonderful people, salt of the earth, and i'll be spending some time with them as well, so i should get some more of the local experience.

I met a great woman from iquitos, so that's part of my motivation for that little side trip, i understand your attraction for peruanas. : )

Fri, 09/24/2010 - 15:06 | 603113 What_Me_Worry
What_Me_Worry's picture

LOL @ Peru thinking they are relevant in the big boys game.

Fri, 09/24/2010 - 15:34 | 603202 Cognitive Dissonance
Cognitive Dissonance's picture

It's the thought that counts.

Fri, 09/24/2010 - 15:36 | 603204 Oracle of Kypseli
Oracle of Kypseli's picture

Maybe not. But... income producing agri-land in Peru and Chile has double since last year and that's not in a bubble. 

Fri, 09/24/2010 - 16:37 | 603358 DoChenRollingBearing
DoChenRollingBearing's picture

Actually I think Peru is relevant, even though it is not a Big Player.

They have BIG copper & gold production and many other minerals as well.

They are just getting food exports going.

Their government is now better than you would think (though government mismanagement has been very common in the past).

They are working on building a new highway to cross the Andes and jungle to connect to Brazil (and so help Brazil and China to do some trading more efficiently).

I mentioned our bearing import business above.  That is the last business I will ever (help)  start.  I would NEVER start a business here in the USA under current conditions.

Don't count out little Peru!  Except, of course, their soccer teams when trying to get into the World Cup.      :(

Sat, 09/25/2010 - 10:22 | 604216 kaiserhoff
kaiserhoff's picture

Of course, Peru is relevant.  A woman can never have too many shoes, and a man can never have enough stupid ski caps;).

Fri, 09/24/2010 - 15:11 | 603127 Azannoth
Azannoth's picture

Now that every1 and their dog is buying Treasuries the USA has 5-10 more years when it can run 1.5T deficits, and after that it will default on it making the whole World insolvent paving the way for a New World Order, great plan! Only shows you whos running the world, who in their right(or wrong) mind would be buing US debt ? I guess all the conspiracy theories about Bilderberg are true than

Fri, 09/24/2010 - 16:12 | 603286 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

The UST bond bubble will keep on growing. More bills for Bennie to buy at POMO.

Fri, 09/24/2010 - 15:59 | 603258 Miramanee
Miramanee's picture

RE: "...At least Peru stocks are surging. The wealth effect to the 20 people who hold them is palpable..."

That's the part the sheeple don't understand. As I yammer on about our ongoing and soon-to-deepen economic crisis, people call me "chicken little" and point to the upward movement in equities as evidence of recovery. What they fail to get---on the most basic level---is that, in our money-as-debt system, only a tiny percentage of people truly benefit from such ramp jobs. The middle class remains caught between the Scylla and Charybdis of massive cost inflation and simultaneous wealth destruction and lack of access to money/credit. It is frustrating.

Fri, 09/24/2010 - 16:17 | 603303 SheepDog-One
SheepDog-One's picture

Agreed, I get the same from the Flobees around me too. 'But, stock markets are up, that means the economy is better'.

OK, believe that but dont come cryin to me when the dollar is destroyed and we're in some BS food rationing with bank accounts seized. 

This Sept pumpfest is just an attempt to turn polls around to somehow pull Obamas chestnuts out of the fire, its not working so better be ready for Plan B sometime in early October.

Sat, 09/25/2010 - 09:33 | 604192 Hephasteus
Hephasteus's picture

But they introduced him as His Excellency at the UN meeting. How can he be in a bad way when he's popeing up all over the world.

Fri, 09/24/2010 - 19:10 | 603696 Rollerball
Rollerball's picture

Here here

Sat, 09/25/2010 - 19:52 | 604775 theworldisnotenough
theworldisnotenough's picture

Wow...

So what happens when all the countries that are buying our dollars realize we can't buy their goods? I don't know the answer but it can't be good. I guess it will happen when the damage done to a nation state by buying our dollars is no longer politically palatable to their citizens.

Sat, 09/25/2010 - 22:43 | 604948 CL1
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Thu, 03/03/2011 - 00:41 | 1014067 george22
george22's picture

I agree, this Sept 900 point pump on the DOW and others has about 2 weeks left before they see it causes no bump in poll numbers, and in fact is just pissing the people off more. This is not a long term plan, word came to 'pump those markets no matter what I dont care how' and it will bite them all in the ass hard. Oct 10th if they havent seen significant improvement in the peasantrys insolence, its Plan B time baby.

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