Posted on 05/17/2008 9:06:30 AM PDT by drbasketball
The Mexican peso was commonly used in early America. By a decree of July 6, 1785, the value of the United States dollar was even set to approximately match the peso. The first U.S. dollar coins were not issued until April 2, 1792, and the peso continued to be officially recognized and used, along with other foreign coins, until February 21, 1857.
Since that period, the peso has at times taken on Banana Republic characteristics. Embarassingly, the U.S. dollar is now falling in value against the peso...
(Excerpt) Read more at nationaleconomist.com ...
Great news! Now it only take a hundred million pesos to equal a dollar!
Or, more precisely, the dollar reaches a five year low against the peso.
Yep. Boy howdy it's on fire. Who-hoo... 1/2 cent in a year.
cool, time to ship all the illegal aliens home.
” Embarrassingly, the U.S. dollar is now falling in value against the peso...”
That’s because the dollar has been trashed since LBJ and the ponzi scheme of the Great Society. Can’t have deficit spending without inflating the dollar.
god forbid it costs more to import from mexico
“Embarassingly, the U.S. dollar is now falling in value against the peso...”
If we started exporting millions of our poverty and criminal class to Mexico, instead of the other way around, that would change real quick. And we’re sending them how many billions of dollars on top of that this year? And how many millions more to their invader organizations like LaRaza?
Mexico is our enemy.
Now the pesos can buy more US goodies for the illegals. That will give them more “bang for the peso”.
Mexico has never been a friend of our United States.
Based on old pesos!
The looters of Mexico want to have the freedom to loot America.
After spending several years starting oil exploration crews for Pemex, I think I have The reason Mexico has become so bad.
I like the Mexican people in the fly over parts of Mexico. The mid level and workers of Pemex are good.
It is the government and the high up in Pemex that are the vultures and looters.
The peso was about 8 cents (12.5 to a dollar).
When Pemex found the sito grande, a very large oil pool that covers parts of the states of Chiapas and Tabasco also a long ways into the Gulf of Mexico.
Pemex borrowed billions to produce this great oil find.
The looters (government) stole most of the money and what they did buy was junk oil rigs and drill pipe, etc.
1,000 pesos which was worth about $80 now will not buy a coke (old pesos).
This was due to the looters stealing billions from the Mexican people.
Instead of overthrowing the looters the Mexican people had an out, they had no weapons and they could cross into America and have a much safer life.
This hurts both Mexico and America as Mexico lost some of it’s hardest workers.
The gangbangers and welfare frauds also came over from Mexico as they could rape and pillage at will.
The government of Mexico is propped up by the billions sent back by the illegals and by our government having borders that are too open.
The only chance I see to help America and Mexico is to seal the border, deport the people who are not here legally.
We also need to arm the Mexican people so they can have a chance against the looters with their armies.
To understand the Mexican attitude to U.S. involvement in its oil and mining industry, you have to go farther back, back to the days of Diaz and his cientificos. Under Diaz, gringos and Europeans, and their commercial interests, were immune from Mexican courts unless Diaz said otherwise. Subsurface mineral rights were bargained away by the friends of Diaz for their own benefit without regard to who owned the land. If labor was needed, Diaz had a general round up peasants to work in the mines and oil fields, and chained them up at night. This came to a head in 1938 when U.S. oil companies refused to recognize the authority of the Mexican Supreme Court and the constitution of 1917. Cardenas nationalized the oil industry and threw out the foreigners, an act that many Mexicans regard the same way we do the Boston tea Party or the Emancipation Proclamation.
Do you deny that the government and high PEMEX officials are just thugs and looters?
10 to the dollar? Last I knew it was 6. Guess I’m still ahead ;)
Let’s send a peso or two to the RNC.
“cool, time to ship all the illegal aliens home.”
Well, it does mean that US dollars they earn here illegally and send back to Mexico are buying less and less in Mexico. That’s a good thing.
Not at all, but it wasn't always so. In fact, PEMEX had an almost heroic beginning. When Cardenas gave Shell and Standard Oil the boot in 1938, he was left with no technical expertise to run the refineries. Cardenas organized a group of young Mexican chemists and engineers to reinvent the refining process, an undertaking that cost many of them their lives when one of their early attempts lead to a huge explosion. It was also the beginning of the Mexican Polytechnic Institute. Lazaro Cardenas was the only modern Mexican president who didn't enrich himself in office, but (IMHO) it's been downhill ever since.
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