Thursday, February 3, 2011

Mexico Rids Itself Of The US Dollar

(snippet)
Therefore it was no surprise that when this story broke in late September of 2010 that Mexico was no longer accepting US Dollars the internet was abuzz with conspiracy theories claiming a banking holiday was in short order or the crash of the US dollar was intimate while others were raising the “BS” flag and claiming Mexico would never stop accepting US Dollars because those dollars were its economic life support but as the year closed out and those “end of the world” predictions didn’t come to pass and the fact Mexico did stop accepting the dollar, well that only left many people wondering what really was going on south of the border.

The Mexican government had made it clear that they will no longer allow ANY businesses to accept US dollars including American companies regardless of the operation or who is paying in American dollars. That’s right, this means if you’re a US citizen and fly into Mexico for vacation or business your hotel is no longer allowed to exchange cash dollars into pesos at the front desk which was customary up until 2011.

Also in Mexico if you travel to a local bank regardless of the bank name or national origin including HSBC from China which is the fastest growing bank in Mexico you are no longer able to exchange US Dollars for pesos. Only account holders at banks have the option of depositing US Dollars into their bank accounts but this is for deposits only and not exchange and then you have to have a special type of account set up that is more costly. Of course even if you do have a special account that allows you to deposit US dollars your bank will charge you a service free for depositing foreign currency into your account and then probably another service fee for a withdrawal but that’s another issue all together.

Ok so many readers are probably asking if the banks no longer exchange money or business are no longer allowed to accept US Dollars then what is a person who has US dollars suppose to do.
More Here..


8 comments:

  1. Talking about the US dollar, I haven't seen a dollar donation in weeks. Surprised you're still posting

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  2. What a shame that the FED has destroyed the value and the reputation of the US dollar. I used to be able to spend USD in Mexico at the bars and strip clubs. Hookers love the dollar. That was 15 years ago.

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  3. 100,000 shark fin soups anyone?

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  4. 12.59 You exemplify what is wrong with America.Give me a bud a tacos football and a skanky crack hoe .It doesnt take much to satisfy an American Mental Midget.
    Better get all the pungtang you can get while the getting is good..soon your momma will be working the track for a loaf of bread while your works on an Obama public works program building new Fema camp installations for the misfortunate Sheeple.Viva la revolution.

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  5. Hard Assets ForeverFebruary 4, 2011 at 11:25 AM

    Right On
    Buy Silver!!!!NOW!!!!!!
    Dont become a Victim of the coming devaluation!!!!!

    ReplyDelete
  6. Justin Beiber rocksFebruary 4, 2011 at 11:30 AM

    Funny how none of this Mexican-Us Dollar development hasnt made it to the mainstream news outlet like Cnn.Im a like a good story I watch Cnn all the time NOT A PEEP about this.I guess foreign abandonment of the Usd is no big deal.let's see how's Charlie Sheen doing.Time to get my fix of Hilton{open your cheeks wide}Perez.

    Sad Sad Sad what has America become.

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  7. they'll lose their jobs if they cover any news

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  8. MSM and the gov't got rid of "real" journalists years ago. News anchors are hired for their looks and ability to read a teleprompter. I bet you didn't think that hot dumb blonde in H.S. would have such power in the future did you? She always wanted to be an actress and now she is.

    ReplyDelete

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