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 ...
Maybe their money will recover if they offer to pay for the wall? (Just trying to be helpful)
Maybe their money will recover if they offer to pay for the wall? (Just trying to be helpful)
When we were transferred there (Misawa AFB) in mid 50s, it was 360 yen to the dollar
Maybe they should start paying for the wall now, before the Peso drops even further.
And remember, those pesos were traded in for ‘new pesos’ in the 1990s at a rate of 1000 old pesos for 1 new peso!
If you look into the derivation of so many currencies, modern and ancient, you see that the come from a designation of weight. The British 'Pound', the Italian Lira, the Biblical Talent as well as the Peso all started with a concept of a weight of precious metal. Then along come governments who inflate and devalue the concept into meaninglessness!
An interesting factoid for non-numismatists, the reeded edges of US Coins greater than the Nickel, were an anti-devaluation guard against 'shaving' of silver & gold coins. Prior to this minting technique, a bit of money could be 'made' by shaving (lightening) a large number of bullion coins. With the reeding, the marred coin is obvious and unacceptable.
I can understand how the Mexican economy is going to go into the toilet if the illegal aliens here stop sending America dollars home to Mexico.
The area around Puebla is about to become the new auto making center of the Americas. Wages at $2-$3/hour is why...
Yes, interesting. Good intel.
Still a horse race but the old gray mare just ain’t what she used to be.
Oh, it's even worse. A majority of those illegals come from parts of Mexico south of Mexico City, indigenous people who are the descendants of the Aztec, Olmec and Mayan people who are not even fluent in Spanish. Mexicans who are native to parts of the country north of Mexico City are usually fluent in Spanish (spoken and written) and work in the many factories in the northern half part of the country. It's not a coincidence that all the automobile factories in Mexico are all in the prosperous northern half the country.
They have chopper a few decimals off since the 70s.
What does Afghanistan have to do with Mexico? Why would I want to travel there? That’s absurd.
I’ve been traveling to Mexico for more than 30 years, throughout different regions. Only once to a border town. Have you ever visited there?
It’s the 15th biggest economy in the world ranked by GDP. 40% of the population (and growing) is middle class.
The US has been getting Mexico’s indigenous agricultural workers, displaced by NAFTA.
“...feel free to call me a bigot if you wish.”
Nothing wrong with bigotry, IMHO. Contrary to liberals, leftists and the politically correct, a bigot is not a racist or supremacist.. Rather, as I understand it, a bigot dislikes / judges others based upon their attitudes, words and deeds. So, everybody is a bigot when you get down to the cold hard facts.
I’m a bigot and make no apologies for it.
Now every dollar sent by an illegal immigrant to Mexico buys 10% more than last year. This is further incentive for illegal aliens to come to the US.
On one of our trips in the 80’s to Hungary, we for some reason had a stop off in Italy (usually it was Zurich), and we had a few hours to kill.
We ordered lunch for us and the kids at the airport, and when the bill came it was some astronomical number, like 32 million lira... We only had a few bucks and American Express Travelers checks, so I asked how much that was in American... I think it was under 10 bucks. (this was a long time ago, so my numbers are not exact, I can’t remember what a cheeseburger cost me exactly last week, so don’t bite my head off if this is not exact conversion, but you get the idea)
That’s just the exchange rate as of this morning. The equivalency doesn’t matter. Japan’s Yen is less than a penny, 0.0098 cents, exchange rate.
What does matter is the increase or decrease in the exchange rate..............
That should be 0.98 cents,..................
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.