Peso Tanking?
We skipped our annual trip south of the border this year, planning on 2015. I have been reading the peso is dropping in value. Today it is around 15 to 1 U.S. Causes for the drop are said to be the c...
Forum Discussion
When I first starting coming the Peso was valued at 12.49 to the dollar. That changed in the 1970's when the political party (PRI) started outright looting of the treasury rather than mere truckloads bound for out of the country.
That 12.49 is now FOURTEEN THOUSAND FOUR HUNDRED to the dollar. Don't confuse yourself with the change to the new peso in 1991. 14,400 to one
ONE THOUSAND ONE HUNDRED FIFTY THREE T-I-M-E-S as weak. Hell the peso was valued at three thousand one hundred to one when the Christmas Surprise happened 22 December 1994.
AFTER the devaluation to date. the peso is worth one third of what it was then.
Accept pesos? Naw, hell, I want Rubles, or Ukrainian, or Venezuelan dinero.
Banamex (Now Banxico) announced to the world 18 December 1994 they had ONE HUNDRED EIGHTY THREE count-em BILLION DOLLARS in currency reserves. Three days later that figure dropped to zero.
Only a fool would believe the Mexican government. It is about as transparent as the basement of an outhouse...and made up of much the same sort of material.
That 12.49 is now FOURTEEN THOUSAND FOUR HUNDRED to the dollar. Don't confuse yourself with the change to the new peso in 1991. 14,400 to one
ONE THOUSAND ONE HUNDRED FIFTY THREE T-I-M-E-S as weak. Hell the peso was valued at three thousand one hundred to one when the Christmas Surprise happened 22 December 1994.
AFTER the devaluation to date. the peso is worth one third of what it was then.
Accept pesos? Naw, hell, I want Rubles, or Ukrainian, or Venezuelan dinero.
Banamex (Now Banxico) announced to the world 18 December 1994 they had ONE HUNDRED EIGHTY THREE count-em BILLION DOLLARS in currency reserves. Three days later that figure dropped to zero.
Only a fool would believe the Mexican government. It is about as transparent as the basement of an outhouse...and made up of much the same sort of material.
