Chile Forum

by **MikieO** on Tue Mar 18, 2008 11:49 am

I've been a fan of Nouriel Roubini and his outlook for the past few years, all of this is falling into place in the predicted fashion. While martial law is an unwanted possibility, it is nevertheless a possibility. Looking at the old film "The grapes of wrath" a few months ago my wife commented "that was a hard time, borne by God fearing, largely upstanding people. What will the next depression be like, with the people who inhabit the US now?" A sobering thought for those of us who inhabit the cities.

by **Vicki and Greg Lansen** on Tue Mar 18, 2008 1:26 pm

RWS, enlighten me, because I really don't know! I just know how things feel now, and it's not very good.

Vicki

by **admin** on Wed Mar 19, 2008 9:00 pm

1 USD = 438.550 CLP

Seems we have a bounce. How long will it last?

The chilean fed chairman gave a speech to the Chielan congress today, after congress voted to urge the central bank to intervien in the peso. He says they are not going to do anything about it, and that it would be dangerous to try. I think he is right. I don't Chile has the economic weight to really manipulate the peso. They do seem to have put some sort of breaks on the inflation rate.

Still, everything is hinging on what the US fed does. Just putting band aids on wall streets self inflicted wounds is not going to last for very long, unless you can convince the international investors to step back in to US dollar assets. Especially the big government investors like the arabs and Asians.

by **eeuunikkeiexpat** on Wed Mar 19, 2008 9:22 pm

BOUNCE!!

I still remember 750 to the USD.

What a cowardly attack on commodities the past couple of days especially on gold and silver and a laughable stick save support of the US stock markets and dollar.

This manipulation will not last more than two weeks at best and more likely only a couple more days IMO.

NIA. DYODD.

by **Gene Gindling** on Wed Mar 19, 2008 9:31 pm

Vicky,
This Federal Reserve paper dated from 2006 should answer your question as to whether they knew:

http://research.stlouisfed<DOT>org/publications/review/06/07/Kotlikoff.pdf

Replace <DOT> with the correct one.

Gene

by **admin** on Wed Mar 19, 2008 10:56 pm

eeuunikkeiexpat, how long have you been saving that graphic?

by **eeuunikkeiexpat** on Wed Mar 19, 2008 11:03 pm

I plagiarize them from the gold board I follow. :alien:

by **RWS** on Wed Mar 19, 2008 11:17 pm

Vicki and Greg Lansen wrote:RWS, enlighten me, because I really don't know! I just know how things feel now, and it's not very good.

I'm sorry, Vicki! I only just saw your question -- right when I'm about to nod off. I'll try to post a brief, intelligible explanation tomorrow.

by **admin** on Thu Mar 20, 2008 10:49 am

happy days are here again!!!!!!!!!!!!!!!!!!!!!!!

1 USD = 447.600 CLP

by **admin** on Thu Mar 20, 2008 1:01 pm

The news:

SANTIAGO, March 20 (Reuters) - Chile's peso slipped more than 2 percent on Thursday, hit by fears a U.S. credit crisis will spread to Europe and as prices for No. 1 export copper fell.

The currency CHILJ <CLP=CL> fell 2.01 percent to 447.50/447.80 in early trade, compared to Wednesday's close at 438.50/438.80 per dollar, paring the peso's appreciation for the year to just over 10 percent.

"Markets are nervous, the fear is that the (credit) crisis affecting the United States is going global. This situation is also provoking a fall in raw materials prices, including copper," one trader said.

European stocks traded lower on Thursday as a profit warning from Credit Suisse fueled worries that the U.S. credit crisis was spreading.

Chile is the world's largest copper supplier and prices for the metal were down 5 percent on global markets on Thursday.

The peso started to weaken from a 10-year high on Wednesday.

The move shadowed a decline in other emerging market currencies. It also came a day after Chile's Central Bank President Jose De Gregorio told Congress he would not rule out intervention if speculation were to cause further appreciation of the currency. (Reporting by Froilan Romero; Writing by Lisa Yulkowski. Editing by Richard Satran)

by **RWS** on Thu Mar 20, 2008 2:38 pm

SANTIAGO, March 20 (Reuters) - Chile's peso slipped more than 2 percent on Thursday, . . . . paring the peso's appreciation for the year to just over 10 percent. . . .

Boy, it sure feels like a lot more than ten percent.

by **jalundberg** on Mon Mar 24, 2008 12:50 pm

I was in the Minneapolis airport on Sunday when, out of curiosity, I stopped by the currency exchange to see what they were selling clp's for...383. Please tell me y'all in Chile are getting a significantly better rate on your ATM withdrawals.

by **eeuunikkeiexpat** on Mon Mar 24, 2008 12:54 pm

NEVER EXCHANGE A COUNTRY'S CURRENCY OUTSIDE THAT COUNTRY

Find a bank with no ATM/debit card per use fee and a 1% or less exchange fee before you leave.
Ideally two banks, one ATM/debit card on the PLUS system and the other on the CIRRUS system.
Get remote wire transfer authorized (fax or online) before you leave.

by **eeuunikkeiexpat** on Mon Mar 24, 2008 1:25 pm

For those who are mystified what happened the past week or so here is a summary:

Its all about Power
-> Posted by Ororeef < NO EMAIL > 11:28 am on March 24, 2008

The Fed Punished Bear Sterns for several reasons,one is they wouldent go along with helping to bail out LTCM.(remember them).Next Bear had a large LONG position in Gold and a SHORT position in 10 year Treasurys (Dollar).This is not Kosher for a company thats supposed to be a member of the “TEAM” .Therefore they needed to be brought back by force under control again.The message is its more important to act in unison (a team Member)than it is to make profits.How dare Bear put profits above the party line ?

by **admin** on Mon Mar 24, 2008 2:26 pm

That is what they call bear baiting.

I love my etrade bank account. No hassle, their web site just works, and their call center has always solved my problem. No ATM fees, and my exchange rate is typically within a peso or two of the whole sale rate published on XE.com. Because they are an online bank, I believe they have some sort of ATM fee refund policy in the States. In Chile there are no ATM fees, or at least I have never been nailed with one.

Nice to see a few more pesos for our dollars however.

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Chile Forum

Your Expection for the Chilean Peso rate through July 2008

Need Help In Chile? Spencer Global Consulting Chile, South America Legal, Investment, Real Estate, Relocation, and all your needs in Chile, South America Call Us:

In the U.S.A. and From Outside Chile Dial: 1-702-990-1762

Need Help In Chile?

Spencer Global Consulting Chile, South America
Legal, Investment, Real Estate,
Relocation,
and all your needs in Chile, South America
Call Us:

In the U.S.A. and From Outside Chile Dial:
1-702-990-1762