Medellin Chit Chat Thread

[Chicago85]

Pure speculation on my part, but I expect it back in the 3900 range within 2 or 3 weeks.

Could happen and would be my luck as that's the next time I'll visit jajaja!

[DonMedellin]

Where's the best place to buy pesos if in the USA to get the best exchange rate?

COP isn't a widely accepted currency outside of Colombia. My Colombian friends would buy USD before they travel abroad, and once they arrive, they will exchange USD to whatever local currency they need. This even include their neihboring country Peru. If you are not near Miami or other big cities with large COL population, your luck to get COP is low.

[JjBee62]

Where's the best place to buy pesos if in the USA to get the best exchange rate?

At an ATM in Colombia.

Afew years ago Bank of America had a good rate for account holders. I have no idea of that's still the case.

Unless you plan on spending a lot of time in Colombia there's no advantage to buying pesos in the USA. You'll only save a few dollars.

[Villainy]

I know you directed your post to Villainy, but I will try to explain. Up until about a month ago, Visa changed their rate at midnight GMT. Now they change it at midnight local time. The XE rate is a mid-market rate, which is a the midpoint between the currency dealers' bid and ask rates. I don't know what time of day Visa gets that rate. Once Visa gets that mid-market rate, they will not change their rate at midnight of that day, but at midnight of the next day. That rate is fixed for 24 hours. So, the XE rate on Monday will be Visa's rate at midnight Tuesday until midnight Wednesday. Since there is no currency trading on the weekend, just X out those two days from the schedule. It is a fixed schedule. If the XE rate is going up, wait to use the ATM. If the XE rate goes down, you have the next day to get the rate before it went down at the ATM. I hope all that makes sense.

I agree with what Fun wrote. But there is one nuance. Monday's rate is the same as it was on Saturday and Sunday.

So here is how you can visualize it.

M -- W. Monday's closing XE rate should be about what the Visa Exch Rate will be on Wednesday. Follow the pattern from there. The Visa Exch Rate is what you get at the ATMs.

Tu -- Th.

W -- F.

Th -- Sa Su M.

F -- Tu.

Sa & Su closed.

[Villainy]

(The low peso might have something to do with the change in administration. } Yes that is the main reason. People who control the rates are afraid of the new Pres being a communist. This was mentioned before the election that if this man wins the pesos would take a hit.

Funny first I used to divide by 2 then 3 then 4. Now maybe 5 will be the new division point in the near future.

You think so, huh? You are aware that Colombia has a political system that in many ways is very similar to the US. The Legislature enacts laws just as they do in our political system.

The Legislative branchs duty is to amend the constitution, make laws ,and exercise political control over the government and the administration. Congress is the body in charge of the legislative function and it is made up of the Senate and the House of Representatives. (Constitucin Poltica de Colombia. Art. 114. (1991)).

So, fear that a leftist President is going to create a Communist state is patently absurd. Petro has nothing close to major support in the Senate or the House of Representatives.

So, what caused the peso to devalue by almost 10% in the last 2 months (5-11 to 7-11) is tied to a plethora of causes. The Fed raising interest rates causes US Governments to trade at lower values and therefore higher rates (Interest Rates and Bond Prices are inversely related). Countries that held Colombian Governments are trading into more secure and higher earning US Governments. Colombia has also printed higher inflation than it has in many years, which is no doubt creating a rush to the world's reserve currency. Oil prices are wavering and oil is Colombia's main export.

There are probably 20 more factors that interact in how the Colombian currency trades vs. US currency. Petro's election is probably a minor factor.

People who control the rates are afraid of the new Pres being a communist.

People who control the rates?? People who actively trade (currency traders) Colombian Pesos are not ignorant of how Colombia's political system works.

[John Gault]

I'm not so sure about this. The Ukraine war is driving down the Euro and GBP. The low peso might have something to do with the change in administration. Many other currencies are unchanged against the US dollar.

(The low peso might have something to do with the change in administration. } Yes that is the main reason. People who control the rates are afraid of the new Pres being a communist. This was mentioned before the election that if this man wins the pesos would take a hit.

Funny first I used to divide by 2 then 3 then 4. Now maybe 5 will be the new division point in the near future.

[Huacho]

Where's the best place to buy pesos if in the USA to get the best exchange rate?

Absolutely flat ass nowhere and why on earth would you want to do that?

[Fun Luvr]

Finally, where I am sure some Users would agree with you, how large a chunk of the User population do you believe you speak for other than yourself? Keep in mind the Users who don't mind a view of a penis in action or even like it will be predisposed to not write or say anything due to selection bias. Do you believe your personal taste speaks for the "majority" of the users here or what is your guesstimate? 51%? 75%, 99% 10% 1%? Even if twenty guys post who agree with you, that still proves nothing. The heart and soul of this Website it the silent majority, not the frequent posters, and I believe I understand my audience from past experience.

Too bad this website doesn't have a survey capability where users vote anomalously. My estimate is you would get less than 10% support.

[Turgid]

I think it's more of a strong dollar than it is a weak peso. The euro is down to $1. 02. Rising US interest rates are for sure a factor.

I'm not so sure about this. The Ukraine war is driving down the Euro and GBP. The low peso might have something to do with the change in administration. Many other currencies are unchanged against the US dollar.

[Surfer500]

I got the expected 4,369 (and change) today. I'm looking forward to Tuesday and pulling again at 4,420 (or close to it). Once a person learns how the XE rate and the Visa Exchange rate work you can really maximize your withdrawals.

Perhaps you could explain how the XE and Visa Rates work. I just checked the Visa rate 4369 and the XE rate 4418, it's my understanding that if I went to an ATM I would get the Visa rate, yet the XE rate is higher. So when could I get the XE Rate. Is there a time delay. Or will I never get that rate because it's moving target, where as I have assumed the Visa rate is fixed for the day. So if this is correct, where does the XE Rate come in, is it a forecast perhaps, and the next day the Visa rate will catch up.

Maybe these sound like some pretty stupid questions for some, and perhaps you shed some light on what you have brought up.

[Huacho]

Does anyone know what is driving the devaluation of the Peso so much.

I think it's more of a strong dollar than it is a weak peso. The euro is down to $1. 02. Rising US interest rates are for sure a factor.

[TooDirty]

Pure speculation on my part, but I expect it back in the 3900 range within 2 or 3 weeks.

Where's the best place to buy pesos if in the USA to get the best exchange rate?

[MarquisdeSade1]

Apparently a new high was hit yesterday topping out over 4400 COP to the USD and I withdrew 2,700,000 COP from a Scotia ATM, and maybe should of withdrawn more. When the new President was elected the exchange rate was like 3960. It would appear the exchange rate has changed over 11% in the three weeks since the election.

Does anyone know what is driving the devaluation of the Peso so much. I'm assuming having a leftist President has something to do with it, and I read an article that he had ran on a platform of cutting back on oil and gas, yet one of his spokespersons said they weren't going to do this. Gasoline is just over 9,000 COP per gallon here in Colombia as they sell it buy the gallon not the liter. At the way the exchange rate is going, gas here in Colombia will be like $ 2 USD a gallon, where as in the USA, it's double to triple that. The devaluation of the Peso it's great for foreigners, but not for the Colombians. I remember coming to Colombia when the exchange rate was under 2,000 COP. Even though there has been a dramatic price increases for everything here in Colombia, with the way the exchange rate has been going, it's never been cheaper.

People in the States sometimes ask me how expensive things are in Colombia, and I sent a few people photos from different food aisles from an EXITO with all the prices of things, one was from a bread counter and the other of fruits and vegetables. At the time I told them to just divide everything by 4,000 to get a sense of what things cost, and also told them that this was a higher end market and with the exception of the breads, all the fruits and vegetables could be bought for easily 1/2 to 1/4 from street vendors or other markets. Most people could not believe how in-expensive fruits and vegetables are, along with being so fresh.

The situation here with the exchange rate kind of reminds of how in-expensive things were in Argentina when I visited in February 2000 just before the Pandemic was declared. I was exchanging money on the blue market, and would buy things in the market, especially imported items, that were easily 1/2 what they would cost in the USA.

And as an example, it's cheaper here in Colombia to buy American candy like M&M peanuts than in the USA right now. But it still isn't cheaper to buy Haagen-Dazs ice cream yet, but maybe soon.

https://walletinvestor.com/forex-for...cop-prediction

[ChuchoLoco]

MDMA is the generic chemical name for Ecstasy. That was not the original Tussy drug. The original Tussy drug is nowhere to be found and come out of a scientific paper published in the early 1900's, I am not going to look it up but I have seen it. What the sell now is the cartel's attempt to reproduce the original.

The only thing I can recall predicting would become legal is "enhancement" drugs that will be used to optimize mental status and not treat preexisting disease.

And I was not aware of requiring proof. Most of the things we do or believe can never be proved. Einstein said it best, "Not everything that counts can be counted, and not everything that can be counted counts".

Now, I will return to the reason we are all here, to fuck the beautiful girl who just walked thru my open door. Ostee Out.

If it feels good, do it. Tussi and pussi both feel good alone and together so let's leave it at that. Not worth wasting time on anything else unless it feels good too. Another guy just posted something interesting about Tussi worth reading. Have fun, stay safe.

[Osteoknot]

Tussi (2 CB) has been around for decades (if I remember the inventor of MDMA made it to deal with the comedowns), but as you rightly say its 'new to the market' as previously it was only psychedelic nerds that did it. Although from what I remember reading (this could be wrong) Colombian 2 CB has no 2 CB in it and is mostly ket + other stuff like molly. Real 2 CB is pretty fun, non addictive and has no comedown.

We vary a bit on the history and my source was a masters psychology Colombian student and competitive roller blade racer who selectively sold her wet holes on the side. She was also the single hottest chica I have ever seen on this planet except for Catgirl.

I would say the same thing for the good stuff they call Tussy now here, pretty fun, non addictive and has no comedown. There is stuff out there that could kill you adulterated with heroin or fentanyl but I haven't heard of any lately.