Mexican Peso History: Anybody know it?

its as relevant as your market recommendations. elrod was sayin youre a fool for calling for new lows on the naz and 2 weeks your saying buy it. i just said it could be sumthin else. but youve given no reasons why. you said the economy was goin to tank but no thinkin behind it. you say buy tech and no reasons from you. its just noise. i think the history of the peso is more useful than your market calls and a hell of a lot more interestin. its a world economy and the usa aint the only place in the world where there be investment opps.

My 2cents worth:


In the early 1970's I worked in Aerospace with an engineer who married a lady from Calexico, Mexico across from Mexicali, CA. Because his wife was a Mexican citizen and his wife's mother lived in Calexico, he could and did put a lot of money in a Calexico Bank savings account because this bank was paying essentially double the USA bank interest rate. At this time, the peso was about 15 or 16 to one for the dollar -- within a few years, the peso became almost worthless and my fellow engineer lost lots of money.


Another story: I know of a brother of one of my wife's uncles by marriage. This guy lived in Mexico City and won a hugh lotto about 40 years ago. He invested it wisely and owned many arenas, apartments, warehouses, buildings and homes. After the great Mexican oil crash back maybe in the early 1979 - 1981 era(I forget the dates), he moved his family to Tijuana near San Deigo, CA, He bought up lots of La Jolla property and a shopping center in San Deigo which has appreciated about ten times in value. To be successful in Mexico you want to own bricks and dirt -- not paper money.


Years ago I met a guy (USA citizen) who had a little silver mine in interior Mexico. He told me, "just one day the Mexican government just took the mine over." No more silver mine.


On the West Coast of Mexico, I had friends who witnessed a traffic death of a man under the influence as he left a bus and attacked the oncoming traffic.The local authorities put one of my friends and the bus driver in the local calaboose to insure the witnesses don't leave the area (which any sane person would do in Mexico). You don't wana be in a Mexican jail. My friend was fed through the jail house window until the case was settled.


Also -- I had friends who owned a little trailer cabana near Rosearita Beach below Tijuana (if it's possible for a USA citizen to own something near the coast in Mexico). They rented the beach property. When the owners wanted to raise the rent -- they would shut off the water if the renters objected.


Be careful in Mexico. They use Nepoleantic Law.


William James