Whenever I cashed a personal check in Puerto Plata, the last endorser before it reached my bank was a pizzeria in Boston.
- Thread starter Jumbo
- Start date
Exchange rate before election
Good for him....the moment he gets mixed in with that everything else he has worked for legally would go down the drain.
I heard that a lot of the new houses going up in Santiago are laundered money; makes somewhat sense do to the fact that the economy is in the tank and houses are taking very long to sell, so why would someone with hard earned money invest in real estate...even if they make $1MRD in profit it may take years for them to make that.
I know of one house that has been selling in Valle Verde for $6M. Its a really beautiful house, brand new, with a big property (~450 mt). Land + construction the builder probably spent $5M pesos or more. He listed it about 3 years ago and still no sellers.
More,"Dirty Money" in all those high rise apts. Pichardo loves to post.
Doesn't even matter if they sit half empty for years.
Then the units are often sold,and then resold to drug dealers who have to "Spend" their dirty dollars.
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Doesn't even matter if they sit half empty for years.
Then the units are often sold,and then resold to drug dealers who have to "Spend" their dirty dollars.
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There's a worldwide recession, yet construction in Santo Domingo has never been higher. We're basically Miami in the 80's.
The worrying issue here CC is how they (the mob) knew who to contact to ask the question in the first instance to launder the money.Six million aint small potatoes CC,thats heavy.Once in your never out;only in a wooden box.I would love to get my wedge out the country (DR) right now,and make a few dollars on the side,and avoid uncle sam that way,but at what cost ???????
Read "Diario Libre" today,it's available "online" if you can't get a hard copy.
Front page article about the HUGE amount of property confiscated from the owners because they bought with "Laundered Drug Money"!
"Billions" of pesos,houses,apartments,entire shopping malls,airplanes,and another 300 million pesos of property being sought.
Yes "Pichardo" "Business" is BOOMING in the DR,the "DRUG BUSINESS"!
Let me save you your time to reply.
_____________________________________________________________________________________________________If it weren't for drug use in the USA and Europe,there would be no "Drug Business" in the DR!
It's worse everywhere else!
You are a lier!
Now go back to suefing the net for pictures of highrise apt.bldgs. to down load!
Peso at 39 to 1 yesterday!
The beginning of the collapse?
Historically the peso has gone up in value during the "Holoidays" here in the DR.
Due to the large amt. of USD pouring in from dominicans visiting,and sending dollars from abroad.
NOT THIS YEAR!
The PLD will not be able to support the peso much longer.If they are re-elected things will get worse in a hurry!
Save your USdollars abroad,if you bank them in the DR,the banks may not have sufficient dollars to cover your deposit.
It HAS happened before!
PLD gov.borrows another 100 million USD.
Someone please tell them that all that "Free Money" is not really "FREE"!
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Front page article about the HUGE amount of property confiscated from the owners because they bought with "Laundered Drug Money"!
"Billions" of pesos,houses,apartments,entire shopping malls,airplanes,and another 300 million pesos of property being sought.
Yes "Pichardo" "Business" is BOOMING in the DR,the "DRUG BUSINESS"!
Let me save you your time to reply.
_____________________________________________________________________________________________________If it weren't for drug use in the USA and Europe,there would be no "Drug Business" in the DR!
It's worse everywhere else!
You are a lier!
Now go back to suefing the net for pictures of highrise apt.bldgs. to down load!
Peso at 39 to 1 yesterday!
The beginning of the collapse?
Historically the peso has gone up in value during the "Holoidays" here in the DR.
Due to the large amt. of USD pouring in from dominicans visiting,and sending dollars from abroad.
NOT THIS YEAR!
The PLD will not be able to support the peso much longer.If they are re-elected things will get worse in a hurry!
Save your USdollars abroad,if you bank them in the DR,the banks may not have sufficient dollars to cover your deposit.
It HAS happened before!
PLD gov.borrows another 100 million USD.
Someone please tell them that all that "Free Money" is not really "FREE"!
CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCccc
Right now it's pretty simple. They are amassing USD. The reason is that everyone predicts the dollar will soar against the peso very soon. Assuming you have a lot of USD 'in the mattress' you can convert it to pesos at a very sweet rate. We did this several years ago when Hipolito left power and the peso plummeted to 50 to 1. We snapped up a bunch of pesos...wait for it...wait for it...wait....and then when things stabilized (a few months later) we effectively had a 35% increase of our effective buying power for anything sold in pesos (including land).
Basically it's currency trading in the most base form. Illegal? Sure. Will anyone care? Hardly. Can you lose you ass? You betcha!
A lady here in Cabrera took the opposite approach and plowed $2million US into Dominican banks before Hipolito left power. She had converted it into pesos so...yeah...she took a bath.
So be careful, be aware and never bet more than you can afford to lose!
Just to chime in...it has been my experience with street 'vendors' that they do pay more. As CC has pointed out (very smart btw) you should go with backup, cause street guys can be verrrrrry sketchy. He may not the perpetrator of a heist, but someone keeping an eye on his clientele might be.