January 26, 2017

Peso Plunges

After the meeting with Mexico's President was cancelled, the peso took another hit, closing at 21.30. Taco Bell closed its doors and 7-11's all across the nation have been stripped of burritos. This is war.
Twitter diplomacy just ripped the Mexican peso, again.

At its low, the currency was down more than a percent against the U.S. dollar after Mexican President Enrique Pena Nieto canceled a meeting with President Donald Trump, in a dispute over Trump's border wall. It later reversed some of the losses.

Pena Nieto was expected to visit the U.S. next week to discuss immigration and trade issues, and Mexican officials have been meeting with the Trump administration ahead of time. Though Trump seemed to make conciliatory comments about Mexico on Wednesday, the president reversed that sentiment by tweeting Thursdaythat the meeting should be canceled if Mexico won't agree to pay for the wall.

The Mexican president tweeted back, in Spanish, that he informed the White House that he would not be attending the meeting. White House spokesman Sean Spicer later said that the wall could be paid for with a 20 percent tax on all imports from Mexico, but the White House later backtracked and said the 20 percent tax was just an example of what could be done.
We shall see who pays for that wall.

Story here.


LL said...

Mexico will pay for the wall.

But MEXGOV is very concerned about revolution and I think that the Trump Administration (at least on its face) needs to be a bit more diplomatic.

Kid said...

We should put tariffs on Mexican imports and a service fee on money transfers from the US to Mexico, or maybe any other foreign country.

Doom said...
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Doom said...

Spicer gave an example. Quite probably an approved example. President Trump removed the example, as another example. Mexico had better understand that they don't have a choice and begin playing ball.

As for a revolution, that is all I have ever asked. If you live in a nation so horrible you flee it, even endangering your life and the lives of your family to do so, I have only ever suggested that those people be returned, and otherwise kept out (of America), so as to fix the problem in their country. We truly can't, and shouldn't, bring them all here.

A revolution is bad of business, and not comfortable to have right on our borders. Frankly, business has become bad for us, here and there and everywhere. And yet it is spilling over already. Call it what you will, it is already war, civil and otherwise. I think it is time for nations which are globalist, socialist, tyrannical, to have to begin paying the price and reforming. It will take heads rolling, in some places, such as Mexico. Though maybe, yet, here. Cheers.