Comments on: Don’t expect your dollars to be worth more anytime soon

By: Timothy Morales

Timothy Morales — Sun, 14 Oct 2012 00:33:43 +0000

Keep the CDs short term, don’t go out over 3-5 years

By: Timothy Morales

Timothy Morales — Sun, 14 Oct 2012 00:33:43 +0000

They need to lower interest rates rather than raise them. Every country is lowering rates except CR. This is crazy. CR has been buying dollars to the tune of $50 million a month. Just lower rates.

By: Jessica Correa Bailey

Jessica Correa Bailey — Tue, 09 Oct 2012 22:03:34 +0000

We have been moving $ to colones and buying CD’s for retirement income. Is this wise? Figure u guys know, we are new to CR. thanks, Dave of Dave and Jessica of Jaco

By: Anonymous

Anonymous — Tue, 09 Oct 2012 20:03:45 +0000

just a quick addition. the colone is losing value too. the colone is holding steady with the dollar in a 480 to 510 band and the dollar is plummeting as anyone stateside buying food and gas knows so colones are buying less for ticos as well. the currency falling faster than both? the cordoba. those poor people have watched the cordoba go from 14 to a dollar to 24 to a dollar as the dollar itself has devalued almost 25% in the same time. this is the sandinistas crushing nicaraguans in exchange for petty social programs and massive corruption. currency destruction a la argentina destroys a country when it is one country. when most of the world does it the result as always been world wide war. you think about that a while. remember under Reagen we were able to stop the dollar slide, strengthen the dollar, and decrease unemployment. if only he had been able to curb social spending as well the USA would still be working.

By: Anonymous

Anonymous — Tue, 09 Oct 2012 18:33:37 +0000

there is a world wide currency war that has been going on for years. same as previous to ww2 high cost governments have used currency devaluation to prop up employment. it unfortunately is a failure because no economy is an island. one devalues to accrue an export advantage, others respond in kind causing a world wide spiral of downward pressures on all currencies. it leads to world wide destabilization. in the 30′s it led to ww2 as a resolution. the cause however is what is important. the cause is government spending beyond what it collects. i.e persistent accruing of debt. deficit spending by governments used to prop up phony dysfunctional social programs, and or power projection damages the countries economy and it’s leaders look to monetarism to compensate for their dysfunctional running of the government. in the last 100 years progressive social governments which simply will never pencil out economically have relied on monetarism, or currency manipulation, to cover up that fact. trying to fix need with government just creates more need. there is no getting around it no matter what your rainbow and pony dreams are. as long as progressive social ideas exist things can only get worse. what good are social benefits when you currency cannot buy rice and beans?

By: Bernardo Coto

Bernardo Coto — Tue, 09 Oct 2012 17:48:37 +0000

Fact is, the Central Bank has been artificially keeping the colon from escalating to benefit exporters for the past years, but everything has a limit…

By: Walter Steve Freeman

Walter Steve Freeman — Tue, 09 Oct 2012 17:48:37 +0000

Why no mention of the effect caused by dollar denominated “loans” to the government constantly flooding the market to the tune of 100s of millions yearly?

By: Patrick Smyth

Patrick Smyth — Tue, 09 Oct 2012 17:19:02 +0000

They really need to let the colone float on its own.

By: Peggy Pfaff

Peggy Pfaff — Tue, 09 Oct 2012 17:19:02 +0000

come home

By: Ken Morris

Ken Morris — Tue, 09 Oct 2012 16:48:37 +0000

I’m afraid this is accurate, and for both of the reasons mentioned. However, predicting the exchange rate is a little bit like giving a weather forecast: Predicting that tomorrow will be like today is usually right.