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Mexican Peso Plunges To 16/USD - Record Lows
The Mexican Peso has devalued 23.5% in the last 12 months, breaking 16.00/USD for the first time in history today...
This is the fastest collapse in the currency since Lehman.
Charts: Bloomberg
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Hmm, in case you haven't noticed, every currency have beeen crashing against KING DOLLAR for at least a year or two now.
Commodities like gold and silver are doing even worse: 5 year lows.
According to the Peso and EURO gold and silver is doing great.
I would consider buying some beach front property in Mexico but I am not a fan of the corrupt govt's and cartels.
In rural Mexico there is hardly any government to be corrupted. You can live a very free, unregulated life in Mexico.
Oh yeh... thats the ticket..! Until they kill you, fuck your wife and start wearing your clothes.
Clowns
LOL! And so true. It's all good until it isn't.
In chaos there is profit. Just be careful and you should be fine. Get a good Mexican R.E. Lawyer to help you, and look seriously at Rosario beach. Not too too far from the Tijuana border.
Do not attempt to drive a rental car there though as it is illegal, cost me nearly $1,200 dollars till I 'acquiesced' to pay off the Policiaman with all the money in my wallet and pocket, $200.00. (And no guarantee I wouldn't have to do it again on the immediate turnaround back to the states).
Corruption CAN work in your favor if you start to do what Lord Blankfein, Timmmay Geithner, Hank PAulson, Jamie Dimon, Joe Cassano, Barney Frank, Chris Dodd, Gramm, Leach and Bliley, bill fefferson clinton, Chris Cox, Mary Shapiro, Jimmie Cayne, Gary Gensler, and the rest of the Jewish mafia, did:
Think like a pro Criminal.
Why don't we force Mexico into a North American economic union with a common currency - say NAFTABUX or NBUX for short.
Then U.S. banks can loan them a gazillion NBUX so they can afford a lot of unneded government workers with generous pensions and a couple of wings of F-35s.
Of course, we'll have to grease the skids of democracy with a few side-deals to Mexican officials (involving sacks of NBUX).
The Mexicans will continue to burn through the borrowed NBUX like a meth addict and we'll have to loan them more and more (and grease a few more skids). Eventually, they'll need to borrow NBUX just to make paments on the previous loans.
When the Mexicans can no longer keep up with the payments, we'll demand their poor stop eating and they kill their retirees because those lazy freeloaders are obviously the problem. They we can start eyeing their assets - like oil deposits or maybe cocaine trafficking.
We'll also stop giving all Mexicans NBUX for a couple of weeks as punishment for being deadbeats. It's not like it would matter - they can't afford anything in the stores anymore because everything is priced in expensive NBUX.
In the end, the U.S. banks can just transfer all the uncollectable debt to the U.S. taxpayers and let the congress figure out what to do (they're great problem-solvers). After all, it's not the bank's fault - it's the lazy Mexicans. They didn't need their stupid Peso at all.
Besides, if the banks went broke, the U.S. would collapse, so there!
Now, on to Canada, eh?
prophetic.
nice.
Subtle Sublime Shades Of Greek Schadenfreude hidden (and yet not so hidden) so neatly and cozily between the lines.
Touche!
Great, more "folks" gonna be hopping the border to remit some USD.
pods
Venus goes retro on July 25th. Look what has happened to the Peso in the past.
Is iit conjunct with Uranus?
We'll know for sure after a manned expedition to Uranus.
The poisonous gasses and liquids found there may have value as fuel.
Highlights on porntube.com
and you can upgrade your whore to a whole new (better) category!
Right after we returned from our Mexican vacation.
Perfect!
All the money illegals were sending home is drying up. That was 20% of the Mexcan economy.
Don't I know it. I just got stopped limit up on one contract. I now have enough money to fly to Denver, buy a couple ounces of first growth, top grade high Sativa, and some munchies, and Ed Rosenthal's hash/indica sleeping medicine in filter cigarette form, mailing it back FEDEX, and having dinner at Elway's, Emil's, or Cowboba's steak house.
yippee.....kay yi yay.
If only Mexico could manipulate global markets and their Central Bankster could lie as easily and fluently as Yellen, the peso would be much higher.
Uhmm.. "First time in history"... are you talking about the current peso, the peso from the 80's or any of the other versions in between?
Exactly. The Mexicans I know keep all they own outside the monitary system. They spend nearly every peso they get as fast as they can.
They all remember the last reset.
All the Mexicans still in Mexico, who are working in re-located factories built by American companies, must be sending too many pesos north to their illegal immigrant relatives trying to survive in Amerika.
Why would anyone live in Mexico when they can come here and receive more benefits than I get. And, I ain't doin all that bad.
slave labor getting even cheaper
Had a two story villa in Playa Del Carmen town went from 99k populsve to 300k in 10 years so I sold with a profit. I'll be back at retirement though. Maybe open a ho house cause it's legal.
Unable to edit posts?! NSA?
Mexico's big export, pot, is now being grown in Colorado, Washington and Oregon. Now they have to devalue the peso so the other stuff they make is worth it.
Why only 16? El Chapo can't repatriate USD ?
Mexico became a net oil importer last May when production dropped to 2.2 mbbls/d. The Peso can only drop and drop from now on as they strive to mitigate the adverse economic impact of this new energy era by printing.
I want a taco so bad
This is clearly a positive. Cheaper leper whores and half price on all feces produce. The next great wave cometh.
What is the problem..just have the Mexican government print 23.5% more currency and send a one time bonus to all the Mexican taxpayers.