Posted on 09/16/2016 6:51:11 AM PDT by Be Careful
After last year’s annus horribilis that saw the currency shed more than 14 per cent of its value against the dollar, the peso is down an additional 10.5 per cent so far this year – making it the world’s second worst performing major emerging market currency after the Argentine peso,
(Excerpt) Read more at zerohedge.com ...
“Yeah yeah yeah I trust Trump to do his best if elected and wouldn’t doubt people who manipulate currency values like Soros to be behind this.”
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One of my first thoughts as well. Dumping peso’s.
In any event, I firmly believe a wall would benefit Mexico in the long run, and many Mexican’s (my conservative 2nd generation friend is one of them). It could have the ability to cripple the cartels, and if they lose money, they lose power, which means they lose influence over the government and citizens.
Yes, it will hurt, but in a generation or two, Mexico could become a nice country again, at least safer, with an economy built on their own, not relying on our welfare state and drug money.
Trumps wall is good for both America and Mexico.
I was last there in 1965 and the exchange rate was still 360 yen to the dollar. Merchant sailors had to come to the bars with coins as I recall.
On the other hand the Philippines required us to use dollars I think.
“indigenous people who are the descendants of the Aztec, Olmec and Mayan people who are not even fluent in Spanish.”
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That’s an interesting tidbit I did not know.
What language do they speak out of curiosity? A hodgepodge of various languages?
I was there 1951-1961. We lived in Sagamihara and Yokohama.
For various reasons, my mom and I made six trips from Seattle-Yokohama, Yokohama-Seattle on MSTS (the Army’s Navy.)
Mexico’s two biggest sources of revenue are:
1) Oil (currently in the toilet price-wise)
2) Remittances from Mexican citizens working abroad
Looks like both are about to do down at the same time.
Agreed and yes it will take time.
And Currency manipulation is another form of corruption.
I had an Indian friend that told me they use a leather bag now and just shake gold coins in it wearing the coins down then exchange them for new ones and recover the gold that is captured in the leather bag.
As an aside I was stationed outside Ft. Sherridan in Illinois and often had to go into Chicago where I picked up some lead quarters and dimes. That was in 57. Gold was still $35.00 and Silver was $1 dollar an ounce. Prices did not constantly go up every month.
You’re not making me mad. Mexico is a beautiful country with many great people. The problem Mexico has is that it has been ruled by reptiles with a colonial mindset that has not changed since the 1600s.
The MSTS ships were actually part of the Navy but were piloted by American civilian skippers. They were named for long dead American Army generals.
Our last trip back was on the the USS General W. A. Mann. Instead of Seattle, we disembarked at Oakland.
Stop, President Trump! I’m so tired of winning! How are they going to pay for that wall if this keeps up?
That's because the value of the peso, like the dollar,
is based on nothing. Nothing at all.
Army brat in Japan 1956-58 here. I remember 100 yen bills, 10 yen copper, 5 yen bronze with a hole in the middle, and aluminum 1 yen worth one third of a penny.
MPC scrip was fun for kids. Felt grown up paying for something with paper money rather than coins. Which were still silver, no wonder they were restricted like greenbacks; Japanese silversmiths could craft anything with coin silver.
Different times.
Cool, thanks. The first I was aware of, the second was new to me!
That boom is coming to a screeching halt.
The boom was caused in large part by US and international investment; Coca-Cola, Nippon, Ford Mexico, International Banks in La Cuidad, etc.
The investment was due to cheap labor but that cheap labor is being supplanted by technology. There’s only so much one can do with uneducated or limited skilled labor.
The hotel and hospitality industry was booming but is taking a hit now because tourism is down overall. The narco money is behind the hotels. The murders and decapitations have had their effect on tourist’s perspectives.
Mexico has had their day in the Sun. The spectre of a Trump win is seen as the sunset of their 20-year emergence. And in many respects, they deserve it, why? Because all they did was take, take, take. They never innovated anything. They never gave back. In the final summary, they never really had much to contribute. They copied what others gave them. But the real blow to them was their hubris in thinking they were somehow superior when in fact, they were not anything of the sort. Such mindsets boosted memes of Reconquista and takeover of large parts of the USA from within.
When you hear what they are really saying, which can only be done when they think you’re not around, they say the people of the USA are ageing, weak and on their way out, and that it is time for them to step up and take over.
My dad had a Japanese gunsmith melt down some half dollars for silver inlays of ducks and pheasants on the receivers of a pair of shotguns. I still have one of these...
Also lived in Yokohama (Negishi Heights) and later Sagamihara (Camp Zama). I believe we talked before; I watched the MSTS ship Gen. E.D. Patrick cast off in 1958.
How was it decided who traveled either by ship or by air? We went Northwest Orient/World Airways.
Just googled E.D. Patrick. She was towed to the scrapyard in 2010 after years out of service. Many posted comments about traveling on her as dependents, or military bound for Korea or Vietnam.
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