Argentine peso on the way to above 70

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Re: Argentine peso on the way to above 70

Post by admin » Fri Aug 31, 2018 10:38 am

I had funny conversation years ago with an argentinan real estate agent.

He calls me up, to buy some property in chile or something.

I just bluntly said, "sorry, we dont do buisness with argentinans".

The most elaborate and nasty scams clients have ever brought to us to try and fix in chile, had an argentinan at the root of them. Often they simply were not fixiable. The gringos lost everything. I'm talking millions of dollars in both money and property, and the argentinan simply skip over the boarder if things get too hot from a criminal perspective.

So our policy is simply we dont expose ourselves to argentinans, and i simply dont hold back with telling argentinans that when they want to talk about "opertunities" with me. That is so they dont waist either of our time trying to do what is they all try to do sooner or later.

So, you would think the guy would be super insulted by me saying that.

He chuckled on the phone and said, "i dont do buisness with argentinans either".
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Re: Argentine peso on the way to above 70

Post by mem » Fri Aug 31, 2018 10:48 am

It's a shame, Argentina is such a large country, while Chile is so narrow. Brazil is another shame. So much land under terrible management.

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Re: Argentine peso on the way to above 70

Post by HybridAmbassador » Fri Aug 31, 2018 4:10 pm

mem wrote:
Fri Aug 31, 2018 10:48 am
It's a shame, Argentina is such a large country, while Chile is so narrow. Brazil is another shame. So much land under terrible management.
Well, if each countrie's politicians steal less from their country, their economy will be much stable. But greed is good so stealing is the game. Todos dicen, quiero robar mas, that is why I became politician...Bwahaha..
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Re: Argentine peso on the way to above 70

Post by admin » Sat Sep 01, 2018 11:03 am

How big is the coruption in argentina?

Big enophe to cover the national debt. Keep that IMF money flowing. Argentina thanks you for your donation.

https://www.forbes.com/sites/afontevecc ... adigm/amp/
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Re: Argentine peso on the way to above 70

Post by HybridAmbassador » Sat Sep 01, 2018 1:37 pm

Argetina raised its interest rate to 50% APR.. Gasp! When mighty Dollar strengthens all investors pulls their colossal amount Green backs from countries like Turkey and India + Argentina, making their currency de-value biggie time.
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Re: Argentine peso on the way to above 70

Post by HybridAmbassador » Sat Sep 01, 2018 2:55 pm

admin wrote:
Sat Sep 01, 2018 11:03 am
How big is the coruption in argentina?

Big enophe to cover the national debt. Keep that IMF money flowing. Argentina thanks you for your donation.

https://www.forbes.com/sites/afontevecc ... adigm/amp/

History says that Argentina has defaulted 8 times! So the legacy is transcended from Kristina to Macri. admin is right to say, all money from IMF to supposedly bail out Argies crisis, it will end up in the Bosse's pocket.
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Re: Argentine peso on the way to above 70

Post by admin » Sun Sep 02, 2018 10:31 am

HybridAmbassador wrote:
Sat Sep 01, 2018 2:55 pm
admin wrote:
Sat Sep 01, 2018 11:03 am
How big is the coruption in argentina?

Big enophe to cover the national debt. Keep that IMF money flowing. Argentina thanks you for your donation.

https://www.forbes.com/sites/afontevecc ... adigm/amp/



History says that Argentina has defaulted 8 times! So the legacy is transcended from Kristina to Macri. admin is right to say, all money from IMF to supposedly bail out Argies crisis, it will end up in the Bosse's pocket.
Are you using argentina standard accounting methods?
Argentina has defaulted on its international debt seven times and on its domestic debt five times since its independence in 1816.
https://www.valuewalk.com/2014/10/argen ... s-history/

Somewhere i seen a count of argentina financial crisis as 40, but who is counting?

Obviously not argentina.
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Re: Argentine peso on the way to above 70

Post by admin » Sun Sep 02, 2018 11:25 am

I guess it is sort of unfair to use that count, as many of them were global crisis in nature. Argentina got run over just like everone else.

My wife and i were at the Tretyakov Gallery, Moscow last year. Great gallery, with thousands of paintings that are nearly undocumented / unseen relative to the famious western collections in galleries in say paris or london.

But of all the art we seen, this one stuck with me:
the-collapse-of-a-bank-1881.jpg!Large.jpg
I seen that painting. The subject matter caught my eye, as it seemed so modern, and strangly out of place with the other paintings around it (mostly rich people looking rich).

I looked at the title, "The Collapse of a Bank".

I thought, 'ahh the great depression'. I have a mild interest in the history of the great depression as my father was a bit of an expert on the history of it.

Then i read the date.

1881

My next thought, 'well, there is a bit of a lesson for anyone that thinks this time is diffrent'.
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Re: Argentine peso on the way to above 70

Post by admin » Mon Sep 03, 2018 9:11 am

I just see no way they can make sufficient cuts to stabilize the argie peso, without allowing for a complete colapse first. The intetventions, and just about all other measures, are waisted unless they pull the band aid off completly.

We could see 70 pesos, and beyond before this is over.
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Re: Argentine peso on the way to above 70

Post by KDnR » Mon Sep 03, 2018 9:36 am

admin wrote:
Mon Sep 03, 2018 9:11 am
I just see no way they can make sufficient cuts to stabilize the argie peso, without allowing for a complete colapse first. The intetventions, and just about all other measures, are waisted unless they pull the band aid off completly.

We could see 70 pesos, and beyond before this is over.
There is no way they will do the right thing. No unpopular cuts will be made. President will try to stay popular... He will lose anyway because the other option will collapse them. They will do what they always did, borrow to pay the debt, then borrow more to stabilize the peso, print more money because their debt will become more and more unbearable to pay off due to the drop in the peso rate. Eventually, they will collapse completely. I have a feeling that this is a BIG ONE. They still look at this as a bump on the road.

I can see 70 for sure, but the sky is the limit. By the way, loans will be provided despite the fact that lenders know that they will default. They give them loans with one hand and let them do interventions on the currency market. With the other hand, they will buy those dollars offered on the market to apply more pressure on the peso. The goal is to put them into debt that they can't service anymore and force them into hyperinflation.

The banking system is a dirty business. It may sound strange for some people, that someone would want to lend money knowing that it will not be paid. But those guys playing a different game. They provide the credit against something, assets, airports, infrastructure etc. Argentinians don't see the trap. In their mind, it is stupid to give them lets say 50 billion against just 15 billion of assets. But it is a brilliant move when you print the money to land... And they know that money will be stolen, wasted, mismanaged, just what they need it :). They are going by the old playbook and this time I think Argentina is on the chopping block, getting prepared to get slaughtered.

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Re: Argentine peso on the way to above 70

Post by KDnR » Mon Sep 03, 2018 9:46 am

admin wrote:
Fri Aug 31, 2018 10:38 am
I had funny conversation years ago with an argentinan real estate agent.

He calls me up, to buy some property in chile or something.

I just bluntly said, "sorry, we dont do buisness with argentinans".

The most elaborate and nasty scams clients have ever brought to us to try and fix in chile, had an argentinan at the root of them. Often they simply were not fixiable. The gringos lost everything. I'm talking millions of dollars in both money and property, and the argentinan simply skip over the boarder if things get too hot from a criminal perspective.

So our policy is simply we dont expose ourselves to argentinans, and i simply dont hold back with telling argentinans that when they want to talk about "opertunities" with me. That is so they dont waist either of our time trying to do what is they all try to do sooner or later.

So, you would think the guy would be super insulted by me saying that.

He chuckled on the phone and said, "i dont do buisness with argentinans either".
You are lucky that you don't operate in the Land of the Free. For that kind of answer, you would get into legal trouble.

I did not live here long but I already came to the conclusion that possibly I should not deal with people from Argentina. Even with expats that lived there a long time. Dishonesty is like a virus that affects the mind. Had some experience already with expats that lived there 18 years and claimed that they don't want to deal with Argentinians. But they end up doing exactly what they said that they never will.

It seems like the best answer to give them is the one you described above

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Re: Argentine peso on the way to above 70

Post by nwdiver » Mon Sep 03, 2018 3:20 pm

Looking forward to the New Austral....
It's all about the wine.

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