Dollar plunges against colombian Peso

robi666 says on Jan 14, 2008, 10:28:

My next investment will be buying a property... in USA.

"I am a citizen of the most beautiful nation on earth. A nation whose laws are harsh yet simple, a nation that never cheats, which is immense and without borders, where life is lived in the present."

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Albatross says on Jan 14, 2008, 10:31:

When I was there a few weeks ago, it was only 1,600 per dollar... what's up with that ?

“Democracy - a pathetic belief in the collective wisdom of individual ignorance." - H.L. Mencken

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RealEstateCOL says on Jan 14, 2008, 10:45:

Albatross, someone ripped you off !!!

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wendell13 says on Jan 14, 2008, 10:48:

In 2007 the dollar lost about 11% and Colombian inflation was about 6%. That is 17% loss of purchasing power. If 2008 is like 2007 I will be moving to another country.

If it is any consolation other foreign currencys are doing almost as bad as the dollar in Colombia.

People on PBH quote how low the dollar was 15 or so years ago. But the inflation rates in Colombia have been very high. Only in the last few years have they been under 10% a year

A very good site for economic data on Colombia with all the exchanges rates, interest rates, etc is the banco de la republica site

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gabolicious says on Jan 14, 2008, 10:52:

so... the economic situation in Colombia is good or bad?

See guys I don't mind about numbers and that sh*t but I better start to mind since I am moving to Colombia soon... so in a few words... is it good or bad?

Elección no canonización....

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panthdave says on Jan 14, 2008, 11:02:

Depends on your life style and needs???? I could live in Europe if I wanted as long keep low key...and live like the locals...Living in a small apartment along the France or Italy Riveria actually sounds nice...You can live anywhere if you want...even with a low budget..even Monte Carlo..and work as a waiter in a outside cafe..

panthdave Miami

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gabolicious says on Jan 14, 2008, 11:06:

well panthdave I guess you have answered my question... "depending on my life style"? well let's leave "my" life style out...

I am going to have a baby... should I be worried? I think your answer will be "yes..."

diablos!

=)

Elección no canonización....

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Frank Rizzo says on Jan 14, 2008, 11:10:

it's definately changed my plans for now...on remodeling. We'll finish cali and start Medellin once the dollar is up. For now that's on hold. I certainly don't think we're anywhere near the bottom in the US on real estate...so i'd not make any further purchases here.

You can make your own bottoms if your looking for several purchases. Obviously, cost average is fine for the US..but in Colombia, there are always people that HAVE to unload property and below the bottom. I'm looking at 20 acres on San Andres from a personal reference in just that situation. We'll see.

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scumbuster says on Jan 14, 2008, 11:37:

I wouldn’t mind exchanging some dollars for pesos if it didn’t cost as much as the gain would be. My wife has an account in Colombia but it charges her to receive money to it from our bank here :p I have heard horror stories about missing money from Colombian banks too. Living in the US it would be imposable to iron out any problem there.

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Frank Rizzo says on Jan 14, 2008, 11:41:

Well we just started wiring money directly to our business acct. there. The ATMs have been so hard to keep up with...so we'll see what exchange we ge in comparison....to the ATM's..

I've got this strange feeling that the ATM card will do better than our colombian bank acct....

We'll see..

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tasco66 says on Jan 14, 2008, 11:41:

The US dollar is weak against most currencies:

http://bloomberg.com/apps/news?pid=20601087&sid=aWGQARDGuhjU&refer=hom...

Bravo, Presidente Uribe for the perfect operation!

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gringoloid says on Jan 14, 2008, 11:47:

robi666......you say you want to invest in property in the usa? I have a nice piece of property in Orange County, CA for sale.

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Frank Rizzo says on Jan 14, 2008, 11:53:

How are the values there gringoloid? I know the prices there from a couple of years ago...... A group of downtown condos in San Diego 4 years ago selling at $1.6 million, i just saw one listed at $500....it's a fire sale in San Diego right now, just wondering about the values up there.

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gringoloid says on Jan 14, 2008, 12:05:

Frank.......the values are not holding up at all. Eighteen months ago I could have gotten mid six figures for this place and now I am going to have to take half that.

I may just rent it for the rest of my life as I don´´t want to take a big loss.

The funny thing about it is that really nothing is moving in terms of sales. No one is really buying or looking and my place is at fire sale price.

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Tinto (Moderator) says on Jan 14, 2008, 12:06:

Interesting tag line you've got there. I missed the festivities.

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gringoloid says on Jan 14, 2008, 12:07:

I think he has me confused with someone else.

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RAAAY says on Jan 14, 2008, 14:48:

robi666 says on Monday January 14th, 2008 10:28:

......." My next investment will be buying a property... in USA..."



Robi.............Perhaps I could interest you in a nice piece of property I own in N.Y.C.............It stretches from Manhattan to Brooklyn and is as fine a bridge as I have ever laid eyes on.............You will have lovely views of downtown and spectacular river views.......
Also.............If you would prefer investing in Europe, I have a nice Tower in London.

.........Its useless to argue with ignorance

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robi666 says on Jan 14, 2008, 15:18:

Ray, I could sell you Fontana di Trevi in Rome... :-)



Totò selling the Trevi fountain to an Italo American... LOL

"I am a citizen of the most beautiful nation on earth. A nation whose laws are harsh yet simple, a nation that never cheats, which is immense and without borders, where life is lived in the present."

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RAAAY says on Jan 14, 2008, 15:20:

NAW.........F**k that...........I'm still trying to unload a bridge and a Tower that I bought a few years ago...........

.........Its useless to argue with ignorance

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scotty says on Jan 14, 2008, 15:24:

thats what you call a plunge?

Get Rhythm, when you got the blues. Johnny Cash

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miamimike says on Jan 14, 2008, 17:28:

Look for a reversal in the Dollar's misfortune starting on or around Jan 15 2009,,,

"Wait a minute. What did you just say? You're predicting $4-a-gallon gas? That's interesting. I hadn't heard that." -- Feb. 28, 2008 --George W. Bush, Washington, D.C.

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diabloblas says on Jan 14, 2008, 17:31:

why is that mike?...why that date?

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miamimike says on Jan 14, 2008, 17:34:

New Prez in the US is sworn in,,,

"Wait a minute. What did you just say? You're predicting $4-a-gallon gas? That's interesting. I hadn't heard that." -- Feb. 28, 2008 --George W. Bush, Washington, D.C.

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goin_south says on Jan 14, 2008, 17:36:

dollar P.L.U.N.G.E.S???..... against Col Peso???? You call that plunging? That's creepy.
That's UP! a bit, compared to what I paid for an exchange just last Saturday morning.

Get me the plumber.

I'D RATHER BE.........IN COLOMBIA :-)).... (No Quiero Conozco Gustav)

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diabloblas says on Jan 14, 2008, 18:25:

i should have guessed where you were going with that mike..but it won't make any difference as i'm sure you know

...i give up guessing...spread my meager savings out...check where i can have the most fun for the least amount of $$$...buy a bus ticket...write a bad check & take my first needle of heroin my last day...administered by a nubile 10

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scotty says on Jan 14, 2008, 18:36:

things are bad all over and it may get even worse.

Get Rhythm, when you got the blues. Johnny Cash

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goin_south says on Jan 14, 2008, 18:38:

It's what's goin_on betwixt su oidos, scotty.
Make it better.

I'D RATHER BE.........IN COLOMBIA :-)).... (No Quiero Conozco Gustav)

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john_stark says on Jan 14, 2008, 18:55:

The US dollar is going to keep going down as long as Helicopter Ben keeps lowering interest rates trying to ward off the recession that we are already in. He won't be satisfied until it's worth less than the Charmin we're wiping our asses with.

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miamimike says on Jan 14, 2008, 22:40:

Diabloblas--out of Curiosity, when did the Dollar start heading South and what world event, if any, was its decline linked to,,,

"Wait a minute. What did you just say? You're predicting $4-a-gallon gas? That's interesting. I hadn't heard that." -- Feb. 28, 2008 --George W. Bush, Washington, D.C.

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goin_south says on Jan 14, 2008, 22:50:

j_s, can you send me a few rolls of Ben Franklins?

I'D RATHER BE.........IN COLOMBIA :-)).... (No Quiero Conozco Gustav)

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Frank Rizzo says on Jan 15, 2008, 00:15:

you may very well be right john stark. this is too little....way too late...ben is an idiot.......this makes me miss greenspan...and his forward looking and thinking......we are already in a recession....and may well be heading for depression in the next 12 months...

when blood is in the streets., i'm buying....but not till then.......

It doesn't look good for the US for the next 2 years......hopefully a good agreement with china will result in improved enconomy after that....otherwize we are ripe for take-over by India and China. Why not.

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panthdave says on Jan 15, 2008, 04:18:

I thought if the US goes into Recession the Peso would weaken because of the ties with the United States...instead the Peso strengthens...

Well...lets see what comes the next few months but with elections around the corner maybe will stay like this...

panthdave Miami

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tomtom33 says on Jan 15, 2008, 05:03:

There are many factors involved, but one of the biggies is interest rates. The Fed has stated that it will again lower rates. Colombian rates are high and not expected to lower in the near future. That increases demand for the Peso and decreases demand for the dollar. Demand drives price.

I don't understand the vilification of our current Fed chair for lowering rates. Greenspan lowered them to all-time lows and held them there for a long time. If all this shit was as clear as some seem to think, rates would not be lowered.

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gabolicious says on Jan 15, 2008, 05:57:

"I thought if the US goes into Recession the Peso would weaken because of the ties with the United States...instead the Peso strengthens..." panthdave... I'm with you... I don't understand this thing...

Can someone explain? please....

Elección no canonización....

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aztec says on Jan 15, 2008, 06:57:

miamimike says on Monday January 14th, 2008 17:28:

"Look for a reversal in the Dollar's misfortune starting on or around Jan 15 2009,,,"


I happen to agree with mm. We currently have a banking/money crisis that has caused some panic on wall street. What is happening is normal in a capitalistic environment. There will always be some boom-bust activity. Corrections are painful and are natural occurrences. Unfortunately, politics enters into the equation and disrupts the supply/demand cycle.

Just so happens the government made it worse by trying to artificially level or cushion the crash of 2000(Tech). Greenspan did so by lowering the interest rate. Complications of 9/11 distorted the normal flow of the markets. In hindsight he held them too low for too long thereby transferring our economy into another bubble(housing).

Instead of enduring the pain of a correction now it appears we may be repeating the mistake by transferring the bubble to the Asian countries. They now have so many dollars they are having difficulty finding a place for them.

We need to let the free markets work and stop interfering.

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Tinto (Moderator) says on Jan 15, 2008, 07:01:

Actually, GIB, some exports have responded in textbook fashion to the weak dollar but that's largely offset by our insatiable thirst for ever-higher priced oil, so the net number doesn't change all that much. It's time for a painful, but necessary, recession. Some say we're already in one.

As for the peso, I don't follow it closely, but the interest rate differentials mentioned above make a lot of sense. As long as the capital controls are not too severe and the economy is fairly steady/strong, Colombian interest rates will attract foreign capital.

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tomtom33 says on Jan 15, 2008, 13:09:

916? Damn it is time to sell my Krugerrand. Wish I had more than one.

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diabloblas says on Jan 15, 2008, 16:02:

miamimike...you're asking me when the dollar started going south & what world event started its demise?

...i'm too stoned to be coherent...& even if i weren't i don't think i could answer either question

what i do know ...& doesn't bother me so much when i'm stoned...is that senior citizens are having a hard time making a living with liquid capital

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laboquita says on Jan 15, 2008, 16:08:

Don't worry! A World Leader will soon arise, true Christians will vanish, and everything will be great!!! ( for 3 1/2 years) There will be FANTASTIC prices on unclaimed property of all kinds!!

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aztec says on Jan 16, 2008, 11:31:

laboquita: " A World Leader will soon arise, true Christians will vanish, and everything will be great!!! ( for 3 1/2 years) There will be FANTASTIC prices on unclaimed property of all kinds!!"

Sounds like the Tribulation and Rapture!

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goin_south says on Jan 16, 2008, 13:00:

...and I saw an exchange rate today of UNDER 1900 PESOS per dollar...
Now, we're.....PLUNGING ;-)

I'D RATHER BE.........IN COLOMBIA :-)).... (No Quiero Conozco Gustav)

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tomtom33 says on Jan 16, 2008, 13:45:

Mine shows 1956 now. I wasn't watching all day.

Given the stock market drop, a 1/2 point cut becomes more likely. That should make the Peso stronger.

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poco says on Jan 17, 2008, 10:24:

Does this mean that those who believed you could live like a king on 1000 U.S. dollars a month 4 or 5 years ago need $1400 in 2008?

Oh,, forgot,, prices are up at least 20 percent,, make that about $1700.

PS: $1,700 is less than the pension of an officer in the military or national police at todays exchange rate. I guess all those retired officers will be living like kings this year?

"When you men get home and face an anti-war protester, look him in the eyes and shake his hand. Then, wink at his girlfriend, because she knows she's dating a pussy." Quote - General Tommy Franks

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Frank Rizzo says on Jan 17, 2008, 12:10:

The current market and state of economy of the US is very disturbing. The bad paper and tumbling housing prices mixed with a huge run up in home prices in China does not bode well for 2 trading partners of our sizes.

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poco says on Jan 17, 2008, 12:27:

Quote: The IGBC dropped more than 4% in two days. one would think that would be news. pretty funny.
-----------------------------------------------
Uribe mentioned on the news last night that the U.S. MIGHT have financial problems in the near future and that Colombians should expect to see a decline in dollar investment. (something like that).

Ha,, good timing,, recession on the horizion, less dollars allocated on Plan Colombia and who's fault is that,, the economy of course.

"When you men get home and face an anti-war protester, look him in the eyes and shake his hand. Then, wink at his girlfriend, because she knows she's dating a pussy." Quote - General Tommy Franks

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poco says on Jan 17, 2008, 12:40:

Quote: ...and I saw an exchange rate today of UNDER 1900 PESOS per dollar...
Now, we're.....PLUNGING ;-)

Ha,, GOOG hit low of 600.43,,, market continued to drop below minus 300,, GOOG goes up. I'd say a trade at 601.50 should show a bounce tomorrow. Ha,, up .001 percent already.

I mean,, there will be a tomorrow,, right?

"When you men get home and face an anti-war protester, look him in the eyes and shake his hand. Then, wink at his girlfriend, because she knows she's dating a pussy." Quote - General Tommy Franks

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