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OfflineCLIT
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exchange rates are crazy
    #23818145 - 11/10/16 01:12 AM (7 years, 2 months ago)

Some countries, the U.S. dollar go for a lot more. I think with just $100K, this is considered millions in places like Russia. I read Putin is only worth about 3 million Rubles which is only about $180,000 U.S. if I'm not mistaken, so in other words if you have $180K, it can go a lot further in Russia. But would there be laws and regulations regarding exchange of currency or not especially in certain countries?


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InvisibleAhab McBathsalts
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Re: exchange rates are crazy [Re: CLIT] * 1
    #23822236 - 11/11/16 08:01 AM (7 years, 2 months ago)

Putin is a billionaire, brah. His "official salary" might be only 180k a year though.


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OfflineCLIT
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Re: exchange rates are crazy [Re: Ahab McBathsalts]
    #23827851 - 11/13/16 03:12 AM (7 years, 2 months ago)

Him being a billionaire wasn't disclosed. Look up his info. He was said to be only worth a few million bucks which is only a few hundred thousand bucks in the U.S.

What I was getting at was if I had a few hundred U.S. bucks, I'd be a millionaire in Russia. Would that mean anything in Russia? Is the U.S. dollar respected in Russia considering a fugitive can't be extradited to the U.S. if the fugitive ran off to Russia (like Snowden)?

I don't get why people seem to NOT like him when he is well mannered, just because he was in the KGB (which is the equivalent to the U.S.A.'s NSA!). Strange. Strange that my stocks rose when Trump was elected...hmmm.


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OfflineSinSemilla
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Re: exchange rates are crazy [Re: CLIT]
    #23827857 - 11/13/16 03:20 AM (7 years, 2 months ago)

Quote:

CLIT said:
Him being a billionaire wasn't disclosed. Look up his info. He was said to be only worth a few million bucks which is only a few hundred thousand bucks in the U.S.

What I was getting at was if I had a few hundred U.S. bucks, I'd be a millionaire in Russia. Would that mean anything in Russia? Is the U.S. dollar respected in Russia considering a fugitive can't be extradited to the U.S. if the fugitive ran off to Russia (like Snowden)?

I don't get why people seem to NOT like him when he is well mannered, just because he was in the KGB (which is the equivalent to the U.S.A.'s NSA!). Strange. Strange that my stocks rose when Trump was elected...hmmm.



Where I'm originally from the dollar is worth so much they had to create a new currency for tourists


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OfflineCLIT
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Re: exchange rates are crazy [Re: SinSemilla]
    #23827898 - 11/13/16 04:05 AM (7 years, 2 months ago)

How is that possible? Like a token of sort? Is the U.S. dollar not considered in your country?


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InvisibleAhab McBathsalts
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Re: exchange rates are crazy [Re: CLIT]
    #23831305 - 11/14/16 06:36 AM (7 years, 2 months ago)

Cuba has two currencies. One for locals and one for tourists. Both with different exchange rates. I believe China does as well.

You can get a 50 Trillion Zimbawane note, it doesn't mean shit. The Economist Big Mac index is generally a pretty good standard for the value of a currency and purchasing power.


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OfflineCLIT
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Re: exchange rates are crazy [Re: Ahab McBathsalts]
    #23834413 - 11/15/16 03:30 AM (7 years, 2 months ago)

Guatemalan guy I know said he has 3 houses and cars in Guatemala yet in the U.S. he's paying high rent for a basement in a house. He said exchange rate is the reason why he's "rich" in his country. I think this is true in other countries as well. I was told that Pakistan used to be like this but the government got "smart" and realized people go to the U.S. to make peanuts and come back to Pakistan looking like a million bucks.


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InvisibleAhab McBathsalts
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Re: exchange rates are crazy [Re: CLIT] * 1
    #23834568 - 11/15/16 06:53 AM (7 years, 2 months ago)

I think you are using the words currency exchange and purchasing power interchangeably.

In other poorer countries, rent, food and services are much less expensive, but high end electronics, automobiles and other imports are usually more expensive after you convert back to USD. Usually the former are so inexpensive because of low labour costs and less capital intensive production.

Same reason why many retirees will take their government old age pension and move to mexico or Thailand and live comfortably despite not having saved a dime.

Have you done much travelling CLIT?


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"Nobody exists on purpose. Nobody belongs anywhere. Everybody's going to die."


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OfflineCLIT
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Re: exchange rates are crazy [Re: Ahab McBathsalts]
    #23844005 - 11/18/16 02:08 AM (7 years, 2 months ago)

Yes I have, it's just I know people who had told me that places like Guatemala he has 3 houses and his wife and son live comfortably there yet he brought them here to the U.S. to live in a house basement while he struggles working 2 jobs and sleeping 4 hours a day. I assumed Mexico is STILL in the same situation where dollars can go a lot further there than other countries (apparently if you're Mexican, then you know how to get around where to get the best deals and offers).


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