No more dollars in Brazil nor Argentina - URGENT
 

Hi Everybody,

THIS JUST IN!

I hope I understood this correctly and I will update as soon as I can, but starting from Monday morning US dollars will not be used in commercial transactions in Brazil or Argentina.

I don't know as yet as to what will be used instead and I will post again when I fully understand the headline.

Best regards,

Steve

Re: No more dollars in Brazil nor Argentina - UPDATE
 

Brazil and Argentina will eliminate commercial transaction in US dollar.

Commerce between Brazil and Argetina will no longer use US dollar as currency. President Lula received Cristina Kirchner this Monday, in Brasilia, to celbrate the agreement.

In Brasilia, the Lula and president of Argentina, Cristina Kirchner signed several bilateral agreements. The most important is what already will be valid at the end of the month in an experimental phase, which will eliminate the dollar and will bring in the Brazillian Real and Argentine Peso as commercial currency between the two countries.

In an interview in the Argentine newspaper El Clarin, Lula affirmed that he will record in official registry offices everything he has done during his two terms in office and deliver the list to the new president, who, according to Lula, will be elected with his help.

The president also affirmed to the Argentine newspaper that he would bet on the possibility that it be a woman. At the reception of president Kirschner, in the Itamaraty palace, minister Dilma Roussef was always by the side of the president. Well humoured and casual, Lula commented about the victory of Brazil over Chile and said that the the national team is like the government, the coach should only be evaluated at the final.

Source: http://www.band.com.br/primeirojorna...D=103408&CNL=1

Brasil e Argentina eliminam dólar de transações comerciais
O comércio entre o Brasil e a Argentina não usará mais o dólar como moeda. O presidente Lula recebeu Cristina Kirchner nesta segunda-feira, em Brasília, para celebrar o acordo.

Em Brasília, o presidente lula e a presidente da Argentina, Cristina Kirscnher assinaram vários acordos bilaterais. O mais importante é que já passa a valer no fim do mês em fase experimental, o que elimina o dólar e passa a usar o real e o peso como moeda de comércio entre os dois países.

Em uma entrevista ao jornal argentino, El Clarin, Lula afirmou que vai registrar em cartório tudo o que fez durante os dois mandatos e entregar a lista ao novo presidente que segundo Lula será eleito com ajuda dele.

Ao jornal argentino o presidente afirmou que aposta na possibilidade de ser uma mulher. Na recepção a presidente Kirscnher, no palácio do Itamaraty, a ministra Dilma Roussef esteve sempre ao lado do presidente. Bem humorado e descontraído, Lula comentou a vitória do Brasil ontem sobre o Chile. E disse que a seleção é como o governo, o técnico só deve ser avaliado no final.

Re: No more dollars in Brazil nor Argentina - UPDATE
 

Re: No more dollars in Brazil nor Argentina - UPDATE
 

Hi fastarr,

I read the report on msnbc.

I think that Cristina Fernandez (de Kirchner) is playing this down in this report, as in El Clarin it reported that this agreement was the 'most important' of all the agreements that were signed during their meeting.

It could be that she is playing low key so as not to rock the boat with the US, but has put into place a system so that they (Brazil and Argentina) can continue 'as normal' when the US dollar collapses.

I'll still investigate...

Best regards,

Steve

Re: No more dollars in Brazil nor Argentina - UPDATE
 

thanks.

Re: No more dollars in Brazil nor Argentina - URGENT
 

so did George Greene play a role in this switch & will it be behind the silver standard? I sure hope so.

Re: No more dollars in Brazil nor Argentina - URGENT
 

hmmmmm, this starts on the 6th, one more thing happening just before the 7th of October...

Re: No more dollars in Brazil nor Argentina - URGENT
 

I first saw this reported about a month ago and it was then in relation to trading of oil.

There was a bit of speculation at the time that the US was going to send some warships for a bit of diplomacy, but haven't heard much more about that since Putin decided to send some back up as a deterrent.

Re: No more dollars in Brazil nor Argentina - URGENT
 

countrys own currency.. world bank wont like it.. get ready for war..

Re: No more dollars in Brazil nor Argentina - URGENT
 

Wow -- what are u doing on this forum ?

you like DOOM & GLOOM to come forth?

Your assumptions are misguided -- ur manupulated by all the other DOOM things you are reading on this site and others ..

THis is classic Brainwashing .. you playing follow the leader!

Re: No more dollars in Brazil nor Argentina - URGENT
 

Hey pineal, dont say those things. I am from Argentina and i dont think thwi will like wars with us, we are too fragil hehe. Our military is dead, so we use Venezuela as a shield. If they are angry with this decision, let them use Haarp on us (joking). Love you all, see ya.

Re: No more dollars in Brazil nor Argentina - URGENT
 

Hi Everybody,

Just in... uncomfirmed report...trading the dollar has been suspended on the bourse BOVESPA in Brasil.

Will keep you all updated as soon as I get more information.

Best regards,

Steve

Re: No more dollars in Brazil nor Argentina - URGENT
 

hmmm

and yesterday I 8 dinner but tonite I will eat at 9 and I don't know what I would Do IF I found a ten cent piece! LOL

I am just funnin' with you, sorry Rocky.

Namaste'

Re: No more dollars in Brazil nor Argentina - URGENT
 

any more news steve?

Re: No more dollars in Brazil nor Argentina - URGENT
 

Hi bennycog,

Yesterday the bourse was closed twice when the BOVESPA dropped 16%.

It's only 9:00 in the morning here so I'm waiting to see what happens today.
It was interesting because over the weekend President Lula said that even though the crisis in the US appears to be the Tsunami, Brazil would only receive the tail end of it. Twenty four hours later the bourse took a nosedive and had to be closed and the Real was devalued by nearly 8% (possibly the reason to suspend trading - but I will find out the official reason).

The Real being devalued against the dollar for the moment, for visitors coming to Brazil is useful as they get even more Real for their buck. Over here we have 'Paralelo' exchange shops which are unofficial bureau de changes.

In the meantime Asian markets were mixed, although the important one (Japan) was down and the Australian government reduced interest rates by 1%, which is a lot.

I'll keep you posted.

Best regards,

Steve

Re: No more dollars in Brazil nor Argentina - URGENT
 

We already know that the dollar is not being used for oil with some countries but what I wonder about is how does this trickle down to the traveler who wants to use dollars in other countries? Is this where the credit card rules meaning a credit card will be accepted but the dollar not?

Or is this story just a flash in the pan?

Re: No more dollars in Brazil nor Argentina - URGENT
 

Hi Carol,

If you're planning a trip, do some research as to how much you will probably need in local currency and cange the money before you leave. You could consider travelling with Euros also, but you would be charged twice for the exchange ie. Dollar to Euro - Euro to local currency. I know this sounds strange but also check to se the health of your bank and if it as branches where you're going to and finallycheck out the possibilities of travellers cheques.

Now, we are all to assume that the whol kiboodle is going to crash, so you would need to travel with something that you can change anywhere, like gold (even second hand gold jewelry) which you could change at your destination, but I think the idea is to arrive in your chosen destination before the real trouble starts.

Best regards,

Steve

P.S. If the story is a flash in the pan, only time will tell, but as I posted another time, if you do nothing you could lose everything. If I were most people, I would 'go on holiday' for a while and see how things lie after a few weeks... the best case scenario is that you had a decent holiday. :)

Re: No more dollars in Brazil nor Argentina - URGENT
 

Iceland suspends trading in bank shares as financial crisis hits Scandinavia hard
http://www.wsws.org/articles/2008/oc...icel-o07.shtml

Iceland announces Russian loan, nationalizes bank
http://www.iht.com/articles/ap/2008/...land-Banks.php

REYKJAVIK, Iceland: Iceland nationalized its second-largest bank on Tuesday under day-old emergency legislation and said it was negotiating a €4 billion (US$5.4 billion) loan from Russia to shore up the nation's finances amid a full-blown financial crisis.

The central bank also loaned €500 million (US$680 million) to Kaupthing, the country's biggest bank, to tide it through the crisis.

Re: No more dollars in Brazil nor Argentina - URGENT
 

Hi bennycog,

SÃO PAULO, 7th of October - 2008 - The (commercial) Dollar closed 4,90% higher, quoted at R$ 2,311 to buy and R$ 2,313 to sell. In the futures market, the contracts that mature in November rose 5,98%, to R$ 2,323 after 434,2 thousand transactions. Based on the interbank deals, the market estimetes that the Ptax (average of the quotes cecked by the Central Bank) stayed around the R$ 2,2001 mark to sell.

SÃO PAULO, 7 de outubro de 2008 - O dólar comercial fechou em alta de 4,90%, cotado a R$ 2,311 na compra e a R$ 2,313 na venda. No mercado viva-voz de dólar futuro, os contratos com vencimento em novembro subiam 5,98%, a R$ 2,323, após 434,2 mil negócios. Com base nos negócios no interbancário, o mercado estima que a Ptax (média das cotações apurada pelo BC) tenha ficado em R$ 2,2001 na venda.

(Simone e Silva Bernardino - InvestNews)

The BOVESPA is losing around 5% today.

The DOW is being hit again with the Bank of America CP losing 21,88% just today!

Best regards,

Steve