General Info

[Fun Luvr]

I went to a local Chase bank out here in FL and you can order Colombian Pesos. I was hoping I'd get something close to the exchange but no can do. $9 US dollars yielded me 300,000 pesos. Does anyone have an idea of a way of getting pesos at the current rate while living in the US? I'll be in Medellin in 5 weeks and who knows what the rate will be then. Any useful insight would be appreciated. Thanks.

If you know someone in Medellin you trust, you can send money. I just checked MoneyGram and their rate is 3670 from your bank account or 3727 if you give them cash at one of their locations. The fees are $1.99 from the bank account or $9.99 for cash. I think those fees are for any amount up to $1000. Most of the CVS drug stores in Orlando have MoneyGram stations. MoneyGram is good because they don't ask a lot of questions and you don't have to show bank statements like some of the other remittance places.

[Septimius]

I went to a local Chase bank out here in FL and you can order Colombian Pesos. I was hoping I'd get something close to the exchange but no can do. $9 US dollars yielded me 300,000 pesos. Does anyone have an idea of a way of getting pesos at the current rate while living in the US? I'll be in Medellin in 5 weeks and who knows what the rate will be then. Any useful insight would be appreciated. Thanks.

[Fun Luvr]

These guys are converting at 3779: https://www.remitly.com/us/en/colombia/pricing.

So your point is what? To guess at the exchange rate? To say they are not real?

My point is you can't get close to that rate at a cambio or from an ATM. That is only for sending money to someone, and there are conditions to be met to get that rate. Read some reviews about Remitly.

[FortuneWaffers]

https://thecitypaperbogota.com/news/...colombia/24015

"The two cases of the disease are a 34-year-old Colombian resident of Buga, Valle del Cauca, and 50-year-old woman in Medellin, Antioquia. Both patients had returned from visiting Spain and presented symptoms of the virus."

[Mr Enternational]

For American mongers, the price of SA pussy just went way down. It is your loss if you do not believe it.

No it didn't. Guys are willing to pay more when the local currency is in the shitter because back home it would cost this and on their currency end it appears to be cheap. But when that currency comes out of the shitter, they are stuck paying those higher local prices that was nothing to them before. You think of 1000 pesos as 1000 pesos. You get in trouble when you think of 1000 pesos as x amount of dollars.

[Elvis 2008]

From the Bloomberg site: "Currency rates are representative of the Bloomberg Generic Composite rate (BGN), a representation based on indicative rates only contributed by market participants. The data is NOT based on any actual market trades. " In other words, they have no data that anyone is buying dollars at that rate.

These guys are converting at 3779: https://www.remitly.com/us/en/colombia/pricing.

So your point is what? To guess at the exchange rate? To say they are not real?

This currency move was not in a vacuum. The stock of Petrobras, the big Brazilian oil company, was down 31%. For American mongers, the price of SA pussy just went way down. It is your loss if you do not believe it.

[HBoy54]

I received 3522 at colpatria Scotia using schwabb card today. Remitly is quoting 3679 express rate. I got 3537 using american express at pricesmart today.

[Fun Luvr]

That Bloomberg has the most up to date information:

https://www.bloomberg.com/markets/currencies/americas

It was at 3820, now at 3767. There was an unheard of 6% move against the dollar. Some cruise lines are down 20+% today.

From the Bloomberg site: "Currency rates are representative of the Bloomberg Generic Composite rate (BGN), a representation based on indicative rates only contributed by market participants. The data is NOT based on any actual market trades. " In other words, they have no data that anyone is buying dollars at that rate.

[Junior11]

I like the details, thanks!

Regarding #1, I think the fact that you can reduce the risk is control. People who cannot leave have less control, you have more control.

Thanks for the examples regarding the supply chains and healthcare. Your points make sense to me.

1. Assuming widespread contagion in both places, yes, you're more likely to be exposed in Medellin. Higher population density, more personal contact. Personally, it's not something I'm concerned about. That's just me personally. There's no way I can 100% protect myself. No matter what I do, the risk will never be zero. Which means ultimately it's not something I can control. I don't worry about what I can't control. I take the precautions available and deal with whatever happens.

2. I'm not certain the local healthcare anywhere is prepared to handle it. Assuming widespread contagion, anywhere will be quickly overwhelmed.

3. USA supply chain is something I do understand. Let's look back to 2005. First Hurricane Katrina hit, then just a few weeks later Hurricane Rita hit. This strained our ability to deliver relief and repair supplies to the limit. What made matters worse, much of the logistics support was wasted on self interest. Here's one example:

Hurricane Rita severely damaged the Coca-Cola bottling plant in Miami. In order to maintain their market presence Coca-Cola offered 3 times normal rates to deliver products from up to 1200 miles away. About 30 truckloads a day were wasted on making sure south Florida had plenty of Coke.

The USA supply chain is long. In Colombia it's relatively short. The USA supply chain is international. In Colombia, most food is grown locally. In the US corporate takeovers and mergers have created many food deserts. Many neighborhoods are already underserved. Supply chain disruptions will cause shortages quickly. Medellin still relies upon local markets. While there may be shortages, they will be more evenly distributed.

Why do I have more faith in Colombian healthcare?

Our system is focused on one thing above all else. Profit. Resources are allocated depending on profitability. Can we switch the priority to emergency response? I don't want to bet on it. We're talking about costs that could quickly exceed $500 billion. Imagine the argument over who's going to pay.

Healthcare in Colombia is a constitutional right. While the system may be overwhelmed, the first priority will be to provide care. Who pays for it is something that will be dealt with later.

In many ways, US healthcare is already overwhelmed. Five years ago, during a routine physical my doctor detected an anomaly in my heartbeat. Potentially, it was life threatening. I was immediately referred to a cardiologist. I called and explained the potentially life threatening problem. The earliest available appointment was in 7 months. I kept calling other cardiologists and found one I could see in 3 months. Finally, someone directed me to the cardiology clinic, where I only had to wait 3 weeks for an appointment. Fortunately, the problem isn't life threatening. I know others who have experienced similar issues for other specialists. For my rheumatoid arthritis I got lucky. Although the rheumatologist recommended had a 1 year waiting list to get in, I found a better one, with only a 2 month wait.

That's probably a lot more elaborate than you wanted.

[Orgasmico]

there is some possible light at the end of the tunnel.

We certainly hope so. There is no shortage of conjecture.

[Elvis 2008]

Colombia got 2 new cases today and USA cases are expected to increase significantly so expect that to change. If cases increase in Colombia, I wouldn't be surprised to see mongering activity decrease on the supply side.

Orgasmico, I have someone betting big that the virus does not spread well in warmer climates. Apparently, a Nigerian contracted COV from a high risk area. He came back to Nigeria and and came into contact with a lot of people in Nigeria and no one contracted the virus.

The virus has appeared to peak in South Korea: https://edition.cnn.com/2020/03/09/a...hnk/index.html.

Here are the totals in S. Korea.

March 8: 367 new S. Korea corona cases.

March 7: 448.

March 6: 516.

March 4: 760.

March 3: 851.

I am not trying to downplay how serious COV is, but I am just saying that with the media blasting how huge COV is, there is some possible light at the end of the tunnel.

If you look at the pandemic of 1918, the second and much more deadly wave started in the fall when temperatures got cooler, https://www.history.com/news/spanish...ave-resurgence.

This supports the notion that COV may not spread as well in warm weather places. Again, it is an alternative view that I heard that I am sharing with the forum. I am not saying it is right, but it is a theory that is out there.

FWIW, I had a family member die of the Spanish flu in 1918 so I know how devastating this virus could potentially be.

[Elvis 2008]

Not to the US dollar it did not.

That Bloomberg has the most up to date information:

https://www.bloomberg.com/markets/currencies/americas

It was at 3820, now at 3767. There was an unheard of 6% move against the dollar. Some cruise lines are down 20+% today.

[Orgasmico]

Not to the US dollar it did not.

He may be referring to this:

https://caracol.com.co/radio/2020/03...Ecr0dS6NyS4Urw

[Mr Enternational]

Shit, the COP went to 3800 to the dollar today.

Not to the US dollar it did not.

[Orgasmico]

I flew into Bogota a few days ago. All that happened was my temperature was taken. I went through customs in like 5 minutes and no one has mentioned the virus to me.

Colombia got 2 new cases today and USA cases are expected to increase significantly so expect that to change. If cases increase in Colombia, I wouldn't be surprised to see mongering activity decrease on the supply side.