Chile Forum

by **admin** on Mon Apr 14, 2008 2:10 pm

a wiki page with a link in would be the easiest for everyone to contribute to I believe.

by **otravers** on Mon Apr 14, 2008 2:31 pm

Those acronyms don't really have anything to do with Chile per se. The best resource I can think of to look them up is http://www.fuckinggoogleit.com/

by **admin** on Mon Apr 14, 2008 9:31 pm

O.k., I hope we are all adults here, because that is just too funny. If anyone complains, I guess I will remove it. :groupjump:

by **admin** on Wed Apr 16, 2008 9:55 am

Chilean central bank starts buying dollars:
http://www.pbn.com/stories/31022.html
and
http://www.reuters.com/article/marketsN ... 6920080415

Mean while the U.S. dollar to Euro has gotten worse. I don't think this intervention is going to last for long, as it only amounts to 8 billion. The price of barrel of oil hit a new high. I don't think there is going to be a chance of this having much impact for long, so everyone run to the ATM while you can.

by **eeuunikkeiexpat** on Wed Apr 16, 2008 11:56 am

Since I've been in a pissed off mood lately (maybe the approaching full moon?) it just dawned on me, why blow this on something that will have little impact in a year's time and do something like buy oil or LNG or build an oil storage facility or another LNG plant or a series of mini-hydo plants or a geothermal plant? Idiots them all in power. Same $hit different country.

by **RWS** on Wed Apr 16, 2008 12:05 pm

Hey, EE.UU., human nature in the aggregate is the same the world over -- and so are politicians.

As to the eight billions: don't you think it's more intended to cushion the blow (of the dollar's fall, on Chilean commerce) than to deflect it altogether?

by **eeuunikkeiexpat** on Wed Apr 16, 2008 12:43 pm

So you protect the balance sheet of the owners of the agro and wine export oligopoly (who will still continue to "take it out" on the minimum wage workers) for eight months, increase inflation within the country and break open the door to future intervention that could go the way of Argentina and the USA?

The dueños of the whining export industry should learn to protect themselves and not rely on a government handout only benefitting their personal pocketbook while increasing the price level in the general economy.

Cushioning the general blow of this coming winter and the months and years after would be much better attacked by getting a handle on the energy situation.

I know you like to play devil's advocate but this central bank action goes against the fundamentals to keeping a sound free market policy but I guess in the end, fiat is fiat.

by **admin** on Wed Apr 16, 2008 12:47 pm

What is going to happen is all the exporters and investors will start timing their repatriation of funds to match the buys, causing a sudden rush of more than 50 million and driving down the dollar.

by **admin** on Wed Apr 16, 2008 12:50 pm

With just some back of the napkin calculations I could likely find 50 million dollars worth of real estate related investment going in Chile this month that we know of, let alone the 4.9 billion that the copper industry did this month. This is just psychological bounce, that may in fact increase the rush in to pesos.

by **eeuunikkeiexpat** on Wed Apr 16, 2008 12:54 pm

Hmmm interesting game. Maybe I should bring a nice chunk of USD cash ($10K or under so no paper work) and trade in and out at the casa de cambio and make some extra pesos. That is if I don't get robbed by the Chilean mafia

by **eeuunikkeiexpat** on Wed Apr 16, 2008 12:57 pm

admin wrote:... This is just psychological bounce, that may in fact increase the rush in to pesos.

Typical outcome of most official intervention in the economy or in tackling social issues.

by **RWS** on Wed Apr 16, 2008 4:42 pm

EE.UU., I'm in complete agreement with you regarding the wrong-headedness of this attempt -- this apparent attempt -- to bolster the dollar. My comments were more sarcastic (toward the government in question) than tongue-in-cheek, as I believe all governments tend toward corruption and will, in time, benefit most those who themselves directly or indirectly benefit the persons who ostensibly serve the people as a whole. (I've known this for a long, long time and have no problem seeing it in other lands -- moral objection, of course, but perception of reality, no. My difficulty is in facing up to the apparent reality in my own homeland -- not, that is, its existence, virtually if regrettably a given in dealing with human nature, but its pervasiveness.)

by **RWS** on Wed Apr 16, 2008 4:47 pm

To sum up the point of my extended remarks above: not only you, EE.UU., and I agree that the attempt will likely prove ineffective, probably those who've determined upon the course of action would (were they to be honest about it) agree, too. So, then, the real questions are, who will benefit from this course of action, and how? I might assume (as, I think, you already have) that the beneficiaries will be the exporters, simply by bolstering their incomes for longer than otherwise, giving them even more opportunity to adjust (in part, doubtless, at the expensive of their employees) than they should already have had (after all, the dollar's been slipping for years!).

by **admin** on Wed Apr 30, 2008 7:53 pm

The bleeding seems to be stopping some what.

1 USD = 461.900 CLP

Could we see 500 again? I would just be happy to get to 475 again?

by **admin** on Wed May 07, 2008 9:20 pm

What do you know, there is some good news this week.

Rates as of 2008-05-07 19:09:05 UTC (GMT). Base currency is CLP.

Currency Unit CLP per Unit Units per CLP
================================ =================== ===================
USD United States Dollars 470.3000000000 0.0021263024
EUR Euro 724.3107799896 0.0013806228
GBP United Kingdom Pounds 918.5940978860 0.0010886201
CAD Canada Dollars 467.1113060332 0.0021408174
AUD Australia Dollars 443.3962642632 0.0022553190
JPY Japan Yen 4.4865119725 0.2228903001
INR India Rupees 11.4012121212 0.0877099724
NZD New Zealand Dollars 367.5941798334 0.0027203913
CHF Switzerland Francs 445.9256901589 0.0022425261
ZAR South Africa Rand 62.1542945835 0.0160889928

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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, Construction, and all your needs in Chile, South America Call Us:

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Need Help In Chile?

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

English (56) 45 247-378
Español / Fax (56) 45 749-167