Mexican Peso Slides As FinMin Resigns Following Trump Visit

Tyler Durden's picture

Mexico's finance minister Luis Videgary has reportedly resigned amid a cabinet shake-up following Donald Trump's visit. Videgary reportedly helped arrange Trump's visit to Mexico.

  • *MEXICO'S VIDEGARAY TO LEAVE FINANCE MINISTRY: SPOKESWOMAN SAYS

TV journalist Denise Maerker comments on Videgaray on Twitter without naming source. Social Development Minister Jose Antonio Meade to take his place.


As The FT reports,

Mr Videgaray, one of President Enrique Peña Nieto’s closest allies and the architect of his structural reform programme, has been in the firing line after last week’s disastrous meeting between the president and Republican US candidate Donald Trump, which was reportedly his idea and which he has defended to the hilt, writes Jude Webber.

 

Mr Videgaray is expected to be replaced by José Antonio Meade, social development secretary, who has held the post under former President Felipe Calderón and is considered a safe pair of hands.

The Peso is sliding on the news...

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Tenshin Headache's picture

Social Development minister moves into Finance. This should be good.

Dr. Engali's picture

Because trying to establish diplomatic relations with the potential president of your neighboring country is a bad thing. Fucking idiots.

SomethingSomethingDarkSide's picture

Now adding the Moat, Alligators, and Snipers options to your package, sir!

jcaz's picture

LOL-   there's a new sheriff in town, boys-  the Mexican tantrums should be hysterical. 

It's so cute that they think they have any power...  All that money to the Clinton Foundation WASTED.

HopefulCynic's picture

What Mexico should do is shift towards Asia, become a trading hub, invite Putin to put a couple of military bases in Baja California and Tamaulipas or Yukatan, finally get out of the control of the US.

FreezeThese's picture
FreezeThese (not verified) HopefulCynic Sep 7, 2016 12:17 PM

LMFAO didn't take long ... 'we joined the embarassment that is Donald J Trump, who's idea was that anyway?' - '...his ~>' ... you're fired

 

Over or under .5 other countries extending their invitation? 

jcaz's picture

Aww... You think "Free trade" can really be free, don't ya snowflake?

Gosh, why can't we all just get along?  No borders,  no boundries-  a true Shangra-La......

EddieLomax's picture

What Mexico should do is no longer implicitly support millions of its citizens breaking the immigration law of a neighbouring country.

Acknowledging that they are in receipt of billions of pounds of money earned from illegal immigrants is a good first step.  An agreement to fund the wall while in turn America implements a gradual cleanup of the whole illegal immigration so as to not shock either economy would be a good deal.

Or they can throw a hissy fit, get money sent to them confiscated, the wall gets built anyway and the illegal immigrants get turfed out at a speed that suits America but may prove disasterous for the Mexican economy.  They can invite Putin in, but basing missiles is just asking for 400,000 American troops on your soil, and I think Putin will want to base 1000's of troops within easy strike range of the US military just as much as Trump would like to stick 1000's of American troops right in Russia's backyard where they can be defeated in days (if not hours) and whose survival relies on a 5000 mile supply chain.

Only crazy people use their military like that, or neo-con's as they're called today.

MFL8240's picture

Planned by the American shit show in DC 

jus_lite_reading's picture

I salute both the Mexican president and his former FinMin for standing up to the NWO globalists. Keep fighting this filth!

HopefulCynic's picture

Trump Palace is not a country, and there is no reason to make Diplomatic relations with a one man shit show. The elections are rigged, Hillary is your president, Mexico will deal with her and her enourage when the time comes. 

truthseeker69's picture

A "great" wall and threats of trade war is your way to establish deplomatic relations? Your head is so far up Trumps rectum you can no longer see the light of day. 

Salsa Verde's picture

The Mexican stand-off has turned into a Mexican sell-off.

truth serum's picture

Get him legal abd hire him Trump.

youngman's picture

so now he will sneak across the border to the USA....free shit you know

laomei's picture

Remember that they threatened to revoke all treaties if NAFTA is challenged, including 1848.  Fucking Mexico thinks that it has any leverage at all... that's just hilarious.

HopefulCynic's picture

Oh no, Mexicans know they can not compete against the US in any arena, Mexicans know that if the US wants they can make a Ukraine, Syria, or Venezuela out of Mexico, that is what Gringos do, right? Because Right is Might.... Am I Right?

But none of that matters, because if Mexicans ever get their balls back, they might fight a tyrannical power even if it means the end of Mexico, but of course, Mexico has no balls it was fully emasculated by the US long ago, and the US makes it's punches once in a while just to remind Mexicans of their position.

But there is a silver lining after all, Mexicans just have to sit and watch how the US goes down like the Titanic, and since we have so much corn, the popcorn will keep coming, all Mexicans have to do is seat and watch, enjoy the shit show, enjoy how US Americans are exposed as the cowardly and corrupt nation of hypocrites they have always been, and watch what they hold dear (their economy) crash and burn like no time before, while they are engaged in outside wars, and probably will get a major one inside their (well at least part of it, since other parts are Mexican) territory.

truthseeker69's picture

Yo China - You think the US has any leverage around the world? Running the dollar con can only get you so far. 

TwoHoot's picture

Exactly what was "disastrous" about the meeting?

FreezeThese's picture
FreezeThese (not verified) TwoHoot Sep 7, 2016 12:20 PM

The whole song and dance from Trump saying they'll pay for a big bad mythical wall and Mexican prez saying the exact opposite ... pretty sure what it did it ... 

overmedicatedundersexed's picture

signed the wrong checks..or they bounced..bribes must be honored "it's the mexican way "..el presidente pissed his payoff check bounced.  simple no?

ParkAveFlasher's picture

"I'll get them to pay for it"  - DT

Carl LaFong's picture

Mexican president being pressured big time by globalists like Fox and Slim. He knows he will be executed/assinated if he tries anything like that again. He should take his case to the people - on TV, internet and radio. It's the only way to bypass the criminal elements that control the Mexican government 

East Indian's picture

the live feed will be cut half way through...

HopefulCynic's picture

Peña Nieto is like the ultimate puppet insider. If someone belongs to the Globalists is him and his daddy Salinas. 

Carl LaFong's picture

Mexican president being pressured big time by globalists like Fox and Slim. He knows he will be executed/assinated if he tries anything like that again. He should take his case to the people - on TV, internet and radio. It's the only way to bypass the criminal elements that control the Mexican government 

Smegley Wanxalot's picture

Better keep that peso strong, May-heeee-koe, because you are going to pay for that fucking wall.

Golden Showers's picture

Oh, shit. Well, the peso will bounce back when they send over a few thousand more babies.

At least the Fin Min didn't get his hands and head cut off and his family abducted for ransom, Juarez style. Mexico sucks. It's a shit hole.

HopefulCynic's picture

Please tell your ex-pats exactly that, maybe they will go back where they came from. 

stocker84's picture

Good thing about Mexico is....

I'll think of something and get back to you.

 

California has the largest number of illegal immigrants in the United States, with an estimated 2.4 million unauthorized immigrants making up about 6.3 percent of the state's total population, according to the Pew Research Center.

They also contribute about 4% to the GDP.

 

 

Illegal immigrants make 10% of California’s workforce.

 

Mexico SHOULD want to keep their hardest working people.

The wall is to their benefit.

The Mexican Wall Tarrif of 2017 

 

https://www.donaldjtrump.com/positions/pay-for-the-wall

 

Irony is, the MSM keeps the narrative of "How will you pay for this and or the Mexican Gov. won't pay."

Trumps proposal seems extremely reasonable to me.

Say what you will about The Donald, he knows how to motivate people into doing what's good for Trump...and now he will do it for America. 

 

Oldrepublic's picture

this was posted yesterday in Vdare

Mexican elite in tailspin after Trumps triumphant  visit to Mexico

http://www.vdare.com/articles/said-in-spanish-mexican-elite-in-tailspin-...

MASTER OF UNIVERSE's picture

If TrumpO the AssClown could arrange a meeting with Steven Poloz in CANADA we could get rid of the Governor of the Bank of CANADA just like Mexico got rid of the piece of shit that arranged TrumpO's Mexico meeting. Moreover, TrumpO the AssClown's lackey managers don't even have to come to CANADA to get Poloz thrown out. Just arrange a meeting with TrumpO and the dismissal will manifest automagically.

 

Up yours, TrumpO, you Child Molester & rapist!

jus_lite_reading's picture

You're sick. Please seek professional help or kill yourself.

One-Eyed-Thong's picture
One-Eyed-Thong (not verified) MASTER OF UNIVERSE Sep 7, 2016 11:45 AM

why would mr trump ever want to visit your piece of shit british commonwealth territory ? you can't even kick the french out !!

stocker84's picture

CANADA, lol...even less relevant than Mexico. 

CANADA should be renamed to Place North of USA.

bluskyes's picture

USA is just Canada on 'roids

One-Eyed-Thong's picture
One-Eyed-Thong (not verified) Sep 7, 2016 11:36 AM

they are backing the peso with silver

 

BUILD THAT WALL !!      BUILD THAT WALL !!     BUILD THAT WALL !!

 

 

(think about that for a second, let it set in)

SimpleJackBlack's picture
SimpleJackBlack (not verified) Sep 7, 2016 12:21 PM

Mexico- the "New"New Mexico.

The Mexican government has 2 offers they can't refuse.

Drug cartels and USA.gov

gdpetti's picture

excuse me, but that is only one, do you have another offer in mind?

SmittyinLA's picture

Actually millions of deportations to Mexico would be great for the Mexican economy, Mexico would also be forced to defend it's borders too.

Leprosy coming.