- Thread starter Golo100
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Anyone interested in dollars???
Just my view on the pesos (feel free to chop my head off). USD traded at all time low against EURO yesterday, 1.19+, and it's around 27+ against pesos. That's a weak dollar against an even weaker pesos. Indicators are pointing towards a stronger dollar against the major currencies in the short term, so we will have a stronger dollar against a weak pesos! I bet we will see 35 sometime soon.
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Weak Euro is more like it...
Regardless of how you filter it, the dollar is what it is. Peso will continue to react. It's a vote on how your current administration is dealing with the DR implosion. Sell your pesos. It's gonna be a bumpy ride!!!
Regardless of how you filter it, the dollar is what it is. Peso will continue to react. It's a vote on how your current administration is dealing with the DR implosion. Sell your pesos. It's gonna be a bumpy ride!!!
Currencies are normally not trading in a complete vacuum, probably not pesos either. Any current administration can only move the market if they are an active player, so it's supply and demand that's dictating price, unless a currency is officially pegged to another currency. Goodnight.
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Leonel says that the peso crisis was caused by the reckless borrowing and spending of the current administration.
Hippo says that the peso crisis is being caused by currency speculators. His policy is to try to control speculation rather than borrowing and spending. The result will be further dollarization of the economy and, ultimately, a sling-shot effect on the value of the dollar. 35 pesos to the dollar seems quite reachable in the short term.
So far, the speculators are just beating everyone else to the peso's rightful place versus the dollar based on HippoCrito's irresponsible governance. If the Hippo announced 10,000 government lay-offs and the introduction of an austerity plan, the peso would immediately stabilize. Of course, that won't happen until after the next election (regardless of who wins), so, as Criss says, this ought to be fun to watch provided you have a source of dollars.
Post-election, on the other hand, won't be fun to watch at all! Watch the misery index reach new highs - ala the mid-1980s.
Hippo says that the peso crisis is being caused by currency speculators. His policy is to try to control speculation rather than borrowing and spending. The result will be further dollarization of the economy and, ultimately, a sling-shot effect on the value of the dollar. 35 pesos to the dollar seems quite reachable in the short term.
So far, the speculators are just beating everyone else to the peso's rightful place versus the dollar based on HippoCrito's irresponsible governance. If the Hippo announced 10,000 government lay-offs and the introduction of an austerity plan, the peso would immediately stabilize. Of course, that won't happen until after the next election (regardless of who wins), so, as Criss says, this ought to be fun to watch provided you have a source of dollars.
Post-election, on the other hand, won't be fun to watch at all! Watch the misery index reach new highs - ala the mid-1980s.
Speculation in Pesos??
Speculation on thin margins of trading can be very dangerous and the actual value and the real value can get distorted. Free market play alongwith volumes can give "real" rates. With so much of "talking down" of peso there may be several people not willing to sell $$s in expectation of further depreciation of peso.
In case the goverment thinks that it is all speculative, then it should enter the market and buy/sell dollars, that would remove the danger of low volume trading.
Of course for that sufficient foreign reserves would be needed in the first place!!!
Sometimes governments should not leave everything to the markets for the stabilizing the country.
Speculation on thin margins of trading can be very dangerous and the actual value and the real value can get distorted. Free market play alongwith volumes can give "real" rates. With so much of "talking down" of peso there may be several people not willing to sell $$s in expectation of further depreciation of peso.
In case the goverment thinks that it is all speculative, then it should enter the market and buy/sell dollars, that would remove the danger of low volume trading.
Of course for that sufficient foreign reserves would be needed in the first place!!!
Sometimes governments should not leave everything to the markets for the stabilizing the country.
I have just heard from a reliable source that Coca cola, hache and many other prominent companies are on the verge of bankruptcy. They are all hanging by the thread.
Likewise, I am also hanging by a thread and seriously considering moving back to USA or get a Job in a rich Middle eastern country to make some dough for my retirement. Missing_DR is that job offer still valid in mexico?
I am depressed and disappointed.
Golo, what is the trick to survive these crisis? how can a person curb their expenses. What advice you have for a person who is thinking of buying property in santiago area? What type of a house should it be to combat this bad economy and to lower the costs? Any ideas?
If I won't go back to USA then I would like to buy a house here and live the dominican way. I have hard the economy is not so great in USA either.
Likewise, I am also hanging by a thread and seriously considering moving back to USA or get a Job in a rich Middle eastern country to make some dough for my retirement. Missing_DR is that job offer still valid in mexico?
I am depressed and disappointed.
Golo, what is the trick to survive these crisis? how can a person curb their expenses. What advice you have for a person who is thinking of buying property in santiago area? What type of a house should it be to combat this bad economy and to lower the costs? Any ideas?
If I won't go back to USA then I would like to buy a house here and live the dominican way. I have hard the economy is not so great in USA either.
What type of a house should it be to combat this bad economy and to lower the costs? Any ideas?
AZB,
At least in the US, you could bill insurance companies for your services. With a good massage therapist and reiki practicioner, you could make a good living.
If you stay in Santiago, a modest home should be paid for, and then just eat rice and beans, fruits and vegetables. You might have to cut down to one "wife" (what is this world coming to?) She should be happy just to be with you.
I know the economy is making life difficult for many people. I hope you find a way to make it work for you.
In many ways, you are my hero.
Mary
AZB,
At least in the US, you could bill insurance companies for your services. With a good massage therapist and reiki practicioner, you could make a good living.
If you stay in Santiago, a modest home should be paid for, and then just eat rice and beans, fruits and vegetables. You might have to cut down to one "wife" (what is this world coming to?) She should be happy just to be with you.
I know the economy is making life difficult for many people. I hope you find a way to make it work for you.
In many ways, you are my hero.
Mary
Missing,Azb...
looks like sanky business has a bright future!!
euro is up and european chicas want action.
DR is becomming prefered destination for female sex tourists since the oposite gender
has been driven to other pastures by local authorities.
Azb, off to the gym, get in shape and hit the beaches of sosua!!!
see you there in november X.
looks like sanky business has a bright future!!
euro is up and european chicas want action.
DR is becomming prefered destination for female sex tourists since the oposite gender
has been driven to other pastures by local authorities.
Azb, off to the gym, get in shape and hit the beaches of sosua!!!
see you there in november X.
And people asked my why I got all of my money and investements out of the DR 2 years ago.
The secret of living in the DR is simple. Every spare dime you made over the years should have been converted into Dollars. You must have an outside income or investments that pays in Dollars.
Soon it will be crunch time in the DR. Only the smart and stronge will survive. Then stand back while the vultures(Me included) sweep in and pick the bones of the weak when the time is right. And no, I will not tell you when. I will tell you after!
The secret of living in the DR is simple. Every spare dime you made over the years should have been converted into Dollars. You must have an outside income or investments that pays in Dollars.
Soon it will be crunch time in the DR. Only the smart and stronge will survive. Then stand back while the vultures(Me included) sweep in and pick the bones of the weak when the time is right. And no, I will not tell you when. I will tell you after!
In santiago, people go out one day a week. Ex: if they go out on friday night then you will not see the same person out on the following nights. Restaurant business is down and the movie theater hall has about 4-5 people / show on week nights. Discos are closing earlier than usual and often close down a whole section of tables because of the lack of clients. Furniture sales and house-hold goods store have sales people complaining for the slow down of sales, thus no commissions. Most of clothing businesses are down and car dealers are in grave trouble. Housing sales are 60% low, means no one is buying right now.
This paradaise is in serious trouble and the only glimpse of light at the end of the long tunnel = government change next year. Till then, we can expect even steeper down fall of the economy. My trip to Venezuela seems like my last trip to anywhere. Now my vacations will be spent on sosua beach.
Mkohn, you are right, I am compelled to let go of some of my high maintenance girls and sticking to the ones who are willing to stay on this sinking boat for a longer time.
Who knows maybe these crisis might teach me a lesson and help me become a better human being. Funny how we all feel so close to god in times of crisis.
Anyway, lets hope for better times......soon.
This paradaise is in serious trouble and the only glimpse of light at the end of the long tunnel = government change next year. Till then, we can expect even steeper down fall of the economy. My trip to Venezuela seems like my last trip to anywhere. Now my vacations will be spent on sosua beach.
Mkohn, you are right, I am compelled to let go of some of my high maintenance girls and sticking to the ones who are willing to stay on this sinking boat for a longer time.
Who knows maybe these crisis might teach me a lesson and help me become a better human being. Funny how we all feel so close to god in times of crisis.
Anyway, lets hope for better times......soon.
on a more serious note...
this is what I replied to master GOLO in august of last year, after he vented against the haitians:
I see your disaproval of the Haitians is
bottomless.
But there also lies the flaw in your thinking. Nowhere in the world exists a country with only
lowlife useless people.
Your neigbors might be in trouble now but if your
government doesn't watch out you might be next in line.
Watch the peso barometer!! X
I guess that was @ 17:1
X.
this is what I replied to master GOLO in august of last year, after he vented against the haitians:
I see your disaproval of the Haitians is
bottomless.
But there also lies the flaw in your thinking. Nowhere in the world exists a country with only
lowlife useless people.
Your neigbors might be in trouble now but if your
government doesn't watch out you might be next in line.
Watch the peso barometer!! X
I guess that was @ 17:1
X.
Re: on a more serious note...
Apparently you have never heard of France!
Tony C.
x_man said:Nowhere in the world exists a country with only
lowlife useless people.
Apparently you have never heard of France!
Tony C.
Time has expired
Those who did not prepare themselves for this financial disaster we are about to fall into(the worst is yet to come) are now dead ducks, just sitting there to get shot at by the speculators.
I have also stated that if you got yourself a family to feed and no income from abroad, you are D.O.A.
Before the end of the year our taxes will almost double. New tax laws will be placed into effect to cover the Baninter black hole, which is almost all fiction to cover up the master plan by Hippo and the PPH to steal the wealth of the country. Montesinos is now little league compared to this and he only got 8 years!!!
The ITBIS will be increased to about 15-18%. There will be more taxes on everything including things that have up to now being exempted. There will more taxes on credit card and all bank transactions, entertainment, dining and even breathing.
Buying a home or apartment may not save you from the devaluation of your pesos. You may not have enough o pay for the closing, interest rates, electric and utility bills, maintenance and legal costs of maintaining a home. The government will have to go after home owners more often for money. License plates will go up to $3000 pesos.
Insurance for cars will go up to $5000 just for basic. Some people may not even be able to get full coverage. I can't right now!!! OMSA buses will go to $10 pesos(I stated this a long time ago with the plan to bring A/C buses first, then let the non-air buses deteriorate and set the $10 fee for all. Conchos will soon be $10, and later $15 by year end, because it follows that concho has to be more than OMSA. Motoconchos have now gone to $10 an up.
When people who have a business begain to realize the implications of having employees with this social security mess, they may not be able to operate a business.
This situation is now out of hand and only speculators, politicians, thieves, drug dealers and money launderers will be able to survive this.
I am sorry. I can no longer provide any more advise on this. Each is on its own. This is survival of the fittest. If the going gets tough, take a boat. We are now headed to anarchy. There are no laws anymore. Just take a look around you. Everyone is doing as they please. There are no policemen around to protect you. Whenever a policeman approaches you, run for your life. They are after your money and they will kill you if they have to.
The military no longer responds to their oath of protecting the nation. They are out to save their hide too. Have you seen anyone of them complaining about the 70 generals involved in the BaninterGate? No way JOSE!! Most of them are now in the border with Haiti "haciendo su dia".
TW
TW
Those who did not prepare themselves for this financial disaster we are about to fall into(the worst is yet to come) are now dead ducks, just sitting there to get shot at by the speculators.
I have also stated that if you got yourself a family to feed and no income from abroad, you are D.O.A.
Before the end of the year our taxes will almost double. New tax laws will be placed into effect to cover the Baninter black hole, which is almost all fiction to cover up the master plan by Hippo and the PPH to steal the wealth of the country. Montesinos is now little league compared to this and he only got 8 years!!!
The ITBIS will be increased to about 15-18%. There will be more taxes on everything including things that have up to now being exempted. There will more taxes on credit card and all bank transactions, entertainment, dining and even breathing.
Buying a home or apartment may not save you from the devaluation of your pesos. You may not have enough o pay for the closing, interest rates, electric and utility bills, maintenance and legal costs of maintaining a home. The government will have to go after home owners more often for money. License plates will go up to $3000 pesos.
Insurance for cars will go up to $5000 just for basic. Some people may not even be able to get full coverage. I can't right now!!! OMSA buses will go to $10 pesos(I stated this a long time ago with the plan to bring A/C buses first, then let the non-air buses deteriorate and set the $10 fee for all. Conchos will soon be $10, and later $15 by year end, because it follows that concho has to be more than OMSA. Motoconchos have now gone to $10 an up.
When people who have a business begain to realize the implications of having employees with this social security mess, they may not be able to operate a business.
This situation is now out of hand and only speculators, politicians, thieves, drug dealers and money launderers will be able to survive this.
I am sorry. I can no longer provide any more advise on this. Each is on its own. This is survival of the fittest. If the going gets tough, take a boat. We are now headed to anarchy. There are no laws anymore. Just take a look around you. Everyone is doing as they please. There are no policemen around to protect you. Whenever a policeman approaches you, run for your life. They are after your money and they will kill you if they have to.
The military no longer responds to their oath of protecting the nation. They are out to save their hide too. Have you seen anyone of them complaining about the 70 generals involved in the BaninterGate? No way JOSE!! Most of them are now in the border with Haiti "haciendo su dia".
TW
TW