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Open Roads Forum  >  RVing in Mexico and South America

 > Inflation in Mexico

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valhalla360

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Posted: 12/04/21 06:10am Link  |  Quote  |  Print  |  Notify Moderator

charlestonsouthern wrote:

Talleyho69, when I was speaking earlier of inflation for Mexican citizens, the following is what I meant:

1 Mexican peso in 2002 for the same goods and services will require 2.17 pesos in 2021 for the same goods and services.

1 Canadian dollar in 2002 for the same goods and services will require $1.41 Canadian dollars in 2021 for the same goods and services.

1 US dollar in 2002 for the same goods and services will require $1.54 US dollars in 2021 for the same goods and services.

So, the winner (which currency holds its value better than their neighboring countries) is Canada.

If we keep just printing currency to keep up with inflation (with no value to back it up), we might as well use it to wallpaper our bathrooms!!


Yes, makes a wild difference between citizens who are presumed to have their wealth and income in the local currency vs a foreigner who presumably has most of the wealth in their home currency.

Currently in Istanbul and inflation is running 20%+ this year but it's dirt cheap for us because the Dollar is up over the Lira by around 75% over the same time period.


Tammy & Mike
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playaboy

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Posted: 12/04/21 06:51am Link  |  Quote  |  Print  |  Notify Moderator

Or just use gold and silver to protect yourself from inflation. Centenarios and Libertads have held their value against the peso.

charlestonsouthern

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Posted: 12/04/21 11:40am Link  |  Quote  |  Print  |  Notify Moderator

Playaboy, you have made an important point! AND it is so easy to do, but doing that is very volatile; you have to keep your eye on the precious metal markets all the time. When you trade in nothing but those markets, it is very high risk, and you have opted out of investment in your local economy. The economists call it "hoarding." However, buying a small amount of gold on the market during bad times is a good thing to do; an example, during the "Great Recession" of 2008, owning a little gold "hedged" against losses incurred in the market then for about 10-12 years. Slowly, you sell the gold (as price of gold going down) as the economy and its markets start making a come back. Use gold as a "tool;" not to make a lot of money because too many well-heeled people across the world like to try to control the price of it.

playaboy

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Posted: 12/04/21 04:59pm Link  |  Quote  |  Print  |  Notify Moderator

Silver Libertads are easy to buy and to sell. Just go to Banco Azteca. They post their buy/sell price on their website.

moisheh

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Posted: 12/05/21 06:07am Link  |  Quote  |  Print  |  Notify Moderator

timetoroll. There is no comparison of poverty levels between Mexico and either Canada or the USA. Plus the social safety nets in Mexico do not provide much help.Big cities in Mexico do provide some help buy all along the coast with fishing villages it is another world.Poverty is when a Mother and her 2 small children live in a casa de carton. No front door just a barrel to keep the dogs out. There is no running water inside. Just a faucet outside. Dirt floor. A kitchen table with a broken leg and a plastic fisherman's plastic box for support. No food in the house. It is December and cold. The one bed has no blankets. Just a bunch of stuffed animals with the children underneath. No income. The mother has little education and no work skills. Her husband went away and never returned. She survives with some help from DIF ( social services) But it is not enough. Some neighbors help but they too are poor. I saw this my first year in Kino. We were delivering Xmas hampers. Brought on tears. This is poverty.

* This post was edited 12/05/21 07:13am by moisheh *

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