surebought
Sep 22, 2011, 11:12 AM
Post #1 of 3
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Looks like we are getting a raise. Maybe 15 to 1 by Christmas.
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As the Dollar continues to strengthen against all major and minor currencies, Mexico seems to be taking the gradual approach on the exchange rate. Everyday this week the Peso moved lower against the Dollar. I think the reason is that the US is not in a position to intervene to weaken the Dollar like Switzerland did earlier this month against the Euro. I wouldn't expect this gradual deterioration of the Peso to stop until US Multi National Companies start whining about a strong Dollar hurting their sales overseas. By then it will be too late. So the best place to be right now is Dollars, not the Stock Market, not Gold or Silver, just ordinary US Dollars, especially if you live in Mexico. I would wait right now if you are thinking of buying property in Mexico or the US for that matter. I am not entirely adhering to this advise myself, because I am buying Pesos into this weakness because of future Peso Payments I have to make later this year. Well the Peso could, I suppose, strengthen, so I need just a little hedge. I really can't lose no matter what happens. Living the dream here in the Republica at last.
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