Good time to buy pesos and keep them in the bank?

Lisa Zee says on Jan 10, 2009, 19:26:

Let`s see what you guys think. Gracias

Vive la vida y deja vivir!.

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miamimike says on Jan 10, 2009, 19:31:

No

No hay Peor Ciego que el que no quiere Ver o Sordo que el que no quiera Oir--Sarah Palin, Wasilla Alaska

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RobbieRobNJ says on Jan 10, 2009, 19:32:

It will probably be a solid move at some point in the future It depends how long your willing to hold peso's ? Also what makes you think the peso will not weaken as well ? Obama does not seem ready to push for the trade agreement and the peso may remain down verse the dollar

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RobbieRobNJ says on Jan 10, 2009, 20:16:

poorbutsnappy , I do concur !

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billyb says on Jan 10, 2009, 20:45:

To the OP, NO.

"All I want to know is where I'm going to die, so I never go there" Unkown (at least to me) wise man.

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goin_south says on Jan 10, 2009, 21:17:

I guess you betta go have a talk with that friend.

nothin I say is to be takn for my words, but rather for the words of Sailor Jerry.

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Lisa Zee says on Jan 10, 2009, 22:42:

I am thinking of having my tenants pay me in pesos instead of dollars, as they have been doing, but I don`t know which way is better, since I pay my mortgages in pesos.

My friend says, we will see in 6 months who is right!?

Vive la vida y deja vivir!.

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billyb says on Jan 10, 2009, 22:46:

If you are not sure, have them pay half the rent in dollars and half in pesos. Who is your friend anyways, Madoff?

"All I want to know is where I'm going to die, so I never go there" Unkown (at least to me) wise man.

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Lisa Zee says on Jan 10, 2009, 22:50:

LOL but why Madoff?

Vive la vida y deja vivir!.

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ujay says on Jan 10, 2009, 22:51:

GRINGOLOIDIIII IS THE MAN TO ASK ,
he made me 30% last week ,good advice .

http://www.jukelightning.com

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Lisa Zee says on Jan 10, 2009, 22:53:

Yes I know gringoloid know$, lets see what he thinks.

Vive la vida y deja vivir!.

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billyb says on Jan 10, 2009, 22:55:

I thought GL made 300% last week ;) So Lisa, where did you go on vacation with the beau?

"All I want to know is where I'm going to die, so I never go there" Unkown (at least to me) wise man.

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ujay says on Jan 10, 2009, 22:56:

he may well have done ,im saying what his advice made me .

http://www.jukelightning.com

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billyb says on Jan 10, 2009, 23:01:

Ujay, just kidding, GL does know his shit when it comes to markets.............

"All I want to know is where I'm going to die, so I never go there" Unkown (at least to me) wise man.

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Lisa Zee says on Jan 10, 2009, 23:12:

billy, we travel a bit on the west, Sedona and New Mexico. Now we are home. I am felling miserable after a surgery in my right shoulder last Monday.

Vive la vida y deja vivir!.

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ujay says on Jan 10, 2009, 23:15:

talking about right shoulder ,
i was out walking to day ,and a house brick one of these big blocks ,
just miss my right shoulder by 9"
....hit me right on the head.

http://www.jukelightning.com

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goin_south says on Jan 10, 2009, 23:18:

oh! then, your forgiven for all that earlier trash talkn... lol

nothin I say is to be takn for my words, but rather for the words of Sailor Jerry.

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billyb says on Jan 10, 2009, 23:25:

Lisa, what happened, a hiking accident? BTW, never been there, but hear Sedona and the surrounding area is amazingly beautiful.

"All I want to know is where I'm going to die, so I never go there" Unkown (at least to me) wise man.

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BillBigD says on Jan 11, 2009, 06:52:

Ujay-Did you play spy puts? 30% was easy on Friday alone. Nevermind the markets was down over 4% for the week

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nbenjamin says on Jan 11, 2009, 09:49:

Lisa,

I think a lot more depends on Colombia. The weak dollar has taken a back seat in U.S. fiscal policy: interest rates have been cut to almost nothing and the government continues to take "loans" for financial stimulus packages. A comment above points out that a U.S. economic recovery will set the stage for the dollar to come back. I am not sure how realistic that is - I mean I think the U.S. economy will come back - but I do not think the U.S. economy come back will be intertwined with a strengthening dollar. But predicting the dollar has been almost impossible. Like another poster states above, the total collapse of the U.S. economy along with other economies allowed the dollar to make its largest gains against both the Euro and the Pound in years. Was any of the dollars come back based on reality? No. It was based on flight to a "safe" investment - the U.S. dollar.

Many people predict the dollar will totally collapse in the next couple of years. Others, and I think they have an intriguing argument, suggest the Euro will collapse - the argument goes something like this - Italy, Spain in the Latin-Euro countries will want to cut rate to stimulate their economies. While Germany and other countries who have always valued a strong currency will push for high interest rates. And this will start a whirlwind that will lead to a pull out and collapse of the euro. Do you believe it. Likely not. But assume it did happen then the dollar would go nuts as the Euro has been the alternative to the dollar in recent history (post 2000). There would be flight into the dollar - and the dollar would increase against all currencies.

Now I am babbling. But to conclude - predicting how the dollar is going to go is almost impossible.

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nbenjamin says on Jan 11, 2009, 09:51:

And finally - I would bet the Colombian peso will be at 2600-3000 within the next two years - but that is complete speculation.

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ColombiaBoard says on Jan 11, 2009, 14:38:

1. Right now you can open a 6 month CD in Colombia at a 10.5% interest rate. What about those CDs in US banks?

2. According to colombian financial analysts the Peso will fluctuate between 2150 and 2300 most of the year, unless something extraordinary happens.

So, what would you do?

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jonny305 says on Jan 11, 2009, 16:00:

gringoloid lol nice warning

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BillBigD says on Jan 11, 2009, 16:16:

Colombia cut rates last meeting, it will not be the last.
Gringo- Madoff jumping bail, get real. Oil is going lower so watch those USO puts. LOL

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ujay says on Jan 11, 2009, 16:24:

you guys if you got any money ,i don't know ,than listen to loidiiiii ,
that's his game ,that's hes living ,be like me ,if i don't know ...then i know a man that does.

http://www.jukelightning.com

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BillBigD says on Jan 11, 2009, 16:54:

Frontrunning-Do some more research the Real big guys didn't do business with him. He isn't in jail because they are trying to find out WHO helped him

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ujay says on Jan 11, 2009, 16:56:

i think bin larden helped him.......

http://www.jukelightning.com

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RobbieRobNJ says on Jan 11, 2009, 17:25:

Madoff is being watched day and night by the press and Feds . He wouldn't get 200 yds from the aparttment ! I do believe he belongs in jail and will probably end up in jail very shortly with bail revoked . I think suicide is a greater probability

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RobbieRobNJ says on Jan 11, 2009, 17:34:

loid what's your take on the market i said we break through 7000 in the next 6 weeks

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RobbieRobNJ says on Jan 11, 2009, 17:38:

lower !

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Lisa Zee says on Jan 11, 2009, 17:41:

ColombiaBoard, which bank?

Vive la vida y deja vivir!.

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RobbieRobNJ says on Jan 11, 2009, 18:20:

ujay , this is an all time low !

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ujay says on Jan 11, 2009, 18:34:

no ,
i been lower some times ,depends how the basuco gets me ,or might be im just fucking nuts any way .

http://www.jukelightning.com

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ujay says on Jan 11, 2009, 19:02:

ha ha ,rob
if he did he would not worry ,he would get it back later ,

but 100 mil ,lets see ,
this basuco is costing me 1 mil a week ,i have been stuck here 16 months ,4 mil a month ,i have nearly wasted that much ,sent it up in smoke .

http://www.jukelightning.com

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whitewidow says on Jan 11, 2009, 21:32:

"1. Right now you can open a 6 month CD in Colombia at a 10.5% interest rate. What about those CDs in US banks?"

- How is interest paid? Is it a true 10.5% Do they pay interest on weekends? Holidays?

I'm no doper! I just play one on TV.

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ujay says on Jan 11, 2009, 21:38:

whats interest got to do on weekends? Holidays?

they got your money ant they ,

what happens is ,
you give them the money ,they give you a post dated check with your interest included on it ,its fix ,then in 6 months you cash it ,if you don't it rolls over for another 6 months ,so if you need it make sur you tell them the week its due.

and if that don't answer you ask loidiiii

http://www.jukelightning.com

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whitewidow says on Jan 11, 2009, 21:43:

Colombian CD interest rates have been discussed b4 on PBH. If it walks like a duck, it might be pollo.

I'm no doper! I just play one on TV.

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Lisa Zee says on Jan 11, 2009, 21:47:

I am not able to type much, but I am reading. Thanks for sharing your opinions.
So is it a joke about the 10.5%? this is why my friend does not want to post, and I can`t type ( not able) what he says about your comments.

Vive la vida y deja vivir!.

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nbenjamin says on Jan 11, 2009, 22:02:

Lisa - if you are truly curious about the dollar - I recommend the financial times currency section - read it straight for two months before doing any serious investing:

Also today msn money put an argument of why the dollar will remain strong in 09 and retreat in 2010.
Please read it - do not listen to the moron-brigade.

http://articles.moneycentral.msn.com/Investing/JubaksJournal/no-crisis...

Predicting currency is nearly impossible - and if I were betting on a currency - just out of logic - the dollar or the colombian peso? I would bet on the dollar - in almost every situation.

Finally - how sick was the weather today in Los Angeles - it went from winter to summer overnight at least in Santa Monica/Venice - I imagine its the same in the South Bay.

Take care

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Lisa Zee says on Jan 11, 2009, 22:12:

I am not investing in currency, I am only thinking of my next trip to Colombia and want to lock in the best rate before I go. Last time I was there, summer `07, the rate was $1,800 av. and I want a better rate next time.
My friend reads: Seeking alpha, Market Watch, Bloomberg and lots of other sites.( He was asking us about Colombian currency)

Thanks benjamin and Loid

Vive la vida y deja vivir!.

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ujay says on Jan 11, 2009, 22:26:

I always smile when people go on about the rate ...why ,
To most it makes no different ,
Oh yesterday it was 180 today its 170 ,you lose 10 ,big deal ,lose 10 on what ,a few hundred bucks ,your down 10 or 20 dollars on your whole trip ,
Unless you are changing thousands of dollars ,then it adds up ,but for most it should not matter ,and if it did ,then instead of having a beer in park 93 at 8 10 12 000 a time ,come over by me have the same for 300 ,there you got 10.000 back .
So don't worry about rate on your holiday money ,only on if you are moving thousands around.
As my redneck mate would say its nickle and dime.

http://www.jukelightning.com

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whitewidow says on Jan 11, 2009, 22:40:

Or, it amounts to a nat's fart.

I'm no doper! I just play one on TV.

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sanandressi says on Jan 12, 2009, 07:08:

We probably will venture to Colombia again this spring. Would it not be great for us if the peso was around 6,000 to the dollar and there is no inflation starting today and it continues for 8 months?

Well, maybe it will be 600 per dollar this spring? So what? We will deal with it. Now I realize you folks who live in Colombia and are on a pension or something from the US have a strong interest in exchange rates but these posts always make me chuckle.

Economies expand and contract and expand. Buy low and sell high. Just live OK. Enjoy that tamale y refajo and don't worry about that which you cannot control..........You could be living in barrio Siloe en Cali or Petare en Caracas....how would that be?

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ColombiaBoard says on Jan 12, 2009, 08:09:

LisaZee and others:

The 10.50% interest rate is real and it´s not a joke. There are small variations depending on the Bank or financial institution that offers the interest rate, but it´s around that figure. That´s why the dollar/peso exchange rate is not fluctuating very much because there´s a constant influx of dollars to Colombia to take advantage of that huge interest rate difference between what you can get in the US and what you can get in Colombia.

Large institutional investors and other not so big investors are investing in colombian bonds, CDs, etc. because they can get a much better return on their investment.

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Darloup (☼Travelguide writer) says on Jan 12, 2009, 08:15:

nbenjamin says on Jan 12, 2009, 09:48:

G-loid - point taken. Again, no doubt the U.S. govt. does not really care about the strength of the dollar. But did you read the article I posted? Take a read it presents a good argument.

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ujay says on Jan 12, 2009, 09:59:

i still say ,for most its peanuts ,may be on a holiday 50 bucks at most ,so i don't walk up and the street looking who has a rate a few cent more .
talking about millions of COP then you do look at the rate .

http://www.jukelightning.com

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Lisa Zee says on Jan 12, 2009, 10:28:

Well we were not backpacking, we spent around $4k in 2 months, we travel, eat in fine restaurants, hotels, air fares, bought clothes, rented fincas, boats, cars. and the main reason was/is to buy a finca in Llanogrande. A 25% difference in exchange rate makes a big difference on a $100,000 finca!

Vive la vida y deja vivir!.

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ujay says on Jan 12, 2009, 10:36:

$100,000 yes ,but not much to worry about on 4k is it .and over 2 months .
cost me here 3k a month ,and im not traveling ,

http://www.jukelightning.com

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Darloup (☼Travelguide writer) says on Jan 12, 2009, 10:41:

durito2 says on Jan 12, 2009, 10:46:

If you are going to compare interest rates you need to use real not nominal rates.

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ujay says on Jan 12, 2009, 10:49:

may be ,what is it 300.000 ,
over 2 months ,150 a month
75 in 2 weeks
37 a week ,

now tell me who is going to worry about 37000 a week ,20 dollars ,14 pounds .
and then you don't worry again for a year till next holiday .

its peanuts.

http://www.jukelightning.com

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Lisa Zee says on Jan 12, 2009, 11:00:

You can spend a lot in Colombia if you are not careful, I have a big family and stay in their fincas and homes, get invited to parties and dinners, but you end up spending money like it or not.

It would be nice to know if I should keep a bank acct in pesos in Medellin, for when I go there, but never know if it is a good idea, that is all.

Vive la vida y deja vivir!.

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ujay says on Jan 12, 2009, 11:10:

for those of you don't know loidiiii
he likes gold ,here is his sing,

http://www.jukelightning.com

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ujay says on Jan 12, 2009, 11:12:

and if you ever pin him in a corner ,look out ,he sings this ,

http://www.jukelightning.com

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ujay says on Jan 12, 2009, 11:21:

ja ja loidiiii

no its not ,ive seen that bling you wear ,i had to put my sun glasses on .

http://www.jukelightning.com

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ujay says on Jan 12, 2009, 11:37:

loidiii
heres my one.

http://www.jukelightning.com

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makopp5 (☼Travelguide writer) says on Jan 12, 2009, 14:30:

medefockinllin says on Jan 12, 2009, 14:56:

I work for a hedge fund..her is my advice for what it's worth. Emerging market economies are heavily US dependent, and any recovery in emerging markets generally lags a recovery in the US.

Interest rates in Colombia will have to start to come down to aid growth amid falling export demand, and the carry will become less attractive due to the volatility profile of the COP. I don't think that buying COP is a great trade at the moment - there is not a huge amount of money to be made from it and the risks of further COP depreciation from local inflation probably outweigh the reward. Furthermore, the truth is that the COP has been overvalued in the past due to the weak USD, not COP strength.

It is the EUR that will ultimately have to devalue relative to other currencies not the USD.

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makopp5 (☼Travelguide writer) says on Jan 12, 2009, 15:19:

ujay says on Jan 12, 2009, 17:59:

liodiiiii
i just use one of these.
try it .works ,

http://www.jukelightning.com

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makopp5 (☼Travelguide writer) says on Jan 12, 2009, 19:30: