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Well if they are putting it in a U.S. bank account they won't know it is going to Mexico.

My problem with it is they are printing money to do this.  At some point the deficit buzzard is going to come and roost on us.

Amazing though the peso is at 24 to the dollar.

 

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Gotta love the USA.   Reelect you know who in November.

Or better yet, spend or donate it in Mexico where it is needed even more.

If you really think you shouldn't have received it, and have no way to spend it in the US then you can always give it back. Or donate it to a charity. 

The government can print as much money as it wants to. The gold standard is long gone. It is under no obligation to pay back its own debt. Ever.

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5 minutes ago, ComputerGuy said:

The government can print as much money as it wants to. The gold standard is long gone. It is under no obligation to pay back its own debt. Ever.

Totally correct, and probably never will.  It´s just a number that will be with us forever, like the distance from the Earth to the Sun.

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Yes they can.  They did that in Venezuela.  How did that work for them?  Not so hot.  History is replete with similar examples.  

I give AMLO credit for trying to keep a lid on the red ink.  Going to get really hard to do that though if the economy here keeps contracting.

Venezuelan bolivar and the world's other most worthless currencies

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Amount
From
usd.svg
USDUS Dollar
 
 
To
ves.svg
VESVenezuelan Bolívar
Victims of capitalistic interference.
 
1USD =
120,620.11VES
1 VES = 0.00000829049 USD
1 USD = 120,620.11 VES
US Dollar to Venezuelan Bolívar Conversion
Last updated: 2020-04-16 20:22 UTC
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Wow.....so if those 4 stacks of bills = $1 US and is about 1 kg of paper currency weight, they'd need 20 kg of them, to buy one barrel of their oil, even at today's low price.....

Yikes.

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On 4/7/2020 at 4:23 PM, artsnob said:

I was told by a friend who works in consulate in Mexico City, it will be put in your bank account where social security goes, otherwise mailed..

My check didn't come to my Mexican bank account where my Social Security goes. It went to my bank in the US where I'm listed with the IRS. Go figure -- I got it so I'm not complaining.

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First choice is said to be what the IRS has for you as a banking account.... where they sent your refund or you paid them from if owed.  

 But if you did not file in 2018 or 2019, then they will (soon?) send it to the your bank account where your SS check is deposited.  

Having none of that, you will, sometime between "now" and August-September, get a real check complete with Trump's name on it sent to the last US address they have on record for you. Can some of you see a problem with that decision?

Maybe on all of the above...

Addendum:  just today some snafus were reported.... like if one used a firm like H&R Block or  TurboTax (I do and haven't received a deposit!), the 'coding' in the program won't send you a deposit at all. Long story.  They say that they will fix this 'soon'.

For all of us old programmers, this kind of snafu was predictable... trying to get something out very quickly without being given adequate time to test it 'six ways from Sunday'.  Additionally, putting Trumps name on the check.... where nothing ever before had been printed on Treasury checks.... made me cringe. Another potential disaster waiting to happen IMO. But that was seemingly not an important factor.

 

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Having none of that, you will, sometime between "now" and August-September, get a real check complete with Trump's name on it sent to the last US address they have on record for you. Can some of you see a problem with that decision?

So how would you get checks to people for whom they don't have direct deposit information?

 

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7 hours ago, artsnob said:

Does your SS check go to a USA account, if so you will get check..

Answer is yes to SS check. I'll see on deposit. If I don't get one, that's ok. If I do, I'll share with charities here and in USA. Already able to help Operation Feed and Love in Action.

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3 hours ago, slainte39 said:

Totally correct, and probably never will.  It´s just a number that will be with us forever, like the distance from the Earth to the Sun.

No it is more than just a number.  A little history lesson here. 

Quote

This section reviews four currency collapses that share common features: an overvaluation; large external deficits; lending up to the last minute; and a deep recession in the aftermath, amplified by serious problems in the financial system. The aim of the comparison is to draw out common factors that sustain a protracted overvaluation and that lead to the ultimate collapse.

https://www.brookings.edu/wp-content/uploads/2016/07/1995b_bpea_dornbusch_goldfajn_valdes_edwards_bruno.pdf

Have some forgotten the 1994 Peso collapse?  It is discussed in some detail here by Brookings.

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3 hours ago, Mainecoons said:

So how would you get checks to people for whom they don't have direct deposit information?

That is covered on the IRS.GOV site and I quote,

"After that, the IRS will be sending stimulus payments via paper check, to all those who are eligible."  They also suggested that "Your payment could take weeks, if not months, longer if you are receiving payment via paper check."

Your guess is as good as mine as to how they will get that information to send out actual paper checks to all those who qualify. But they are the professionals and they have promised to send them.

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24 minutes ago, RickS said:

That is covered on the IRS.GOV site and I quote,

"After that, the IRS will be sending stimulus payments via paper check, to all those who are eligible."  They also suggested that "Your payment could take weeks, if not months, longer if you are receiving payment via paper check."

Your guess is as good as mine as to how they will get that information to send out actual paper checks to all those who qualify. But they are the professionals and they have promised to send them.

 

OK.  I was referring to this:

Quote

Can some of you see a problem with that decision?

And simply trying to figure out what other decision you thought there might be.  Seems to me they understand the difficulty of distributing paper checks and have been up front about it.  Direct deposit is a whole lot better, obviously.

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The point of that statement.... 'can some of you see a problem with that decision'.... is exactly what you asked about. "Where are they going to get that information for everyone promised" and how valid will it be... maybe some years later or even for people who moved with no forwarding address (or it is more than 1 month and the Postal Service will NOT forward after that?!?). 

My prediction is that there will be a lot of checks floating around and finally coming back, plus a lot a people 'mad' because their government promised them a check by August and they never received one. 

You suggest that 'they understand the difficulty of distributing paper checks' and I bet that, at the lower ranks, a truer statement has never been spoken. But the talking heads make it sound like things will be fine and you'll get your check 'starting soon'. Setting high expectations by politicians that don't understand or really care what it takes to follow through has and will be with us forever, no matter the Party.

 

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3 hours ago, Mainecoons said:

No it is more than just a number.  A little history lesson here. 

https://www.brookings.edu/wp-content/uploads/2016/07/1995b_bpea_dornbusch_goldfajn_valdes_edwards_bruno.pdf

Have some forgotten the 1994 Peso collapse?  It is discussed in some detail here by Brookings.

There is a huge difference between the peso and the usd.

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The Brookings reference cites a number of currencies and historical examples, of which the Peso is only one.  The behaviors common to all of them are being repeated now by the U.S. and several others.

The only thing propping up the dollar right now is its reputation as a safe haven currency plus the reserve currency status.  Neither are guaranteed in the future particularly since a number of countries are working hard to dilute or end the reserve currency status.  

Sooner or later every country that behaves in the manner the U.S. has particularly for the last 20 years is going to pay the price.  There is no Santa Claus, no nation can indulge in wanton money printing and running up debt and remain solvent and have its currency maintain value.  Mexico to its credit is being far more prudent now than it was pre 1994.  If it wasn't for the oil price crash the Peso would be trading in the 18's right now and trending upwards.

 

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Back in the seventies, one US Dollar would buy about 4.32 Swiss Francs. Today I think it would  barely  buy one Swiss Franc. 😞

Maincoon thanks for posting that article. It will give me some interesting reading today.

Also, back in I think 1983, I backpacked thru South America. What is still stuck in my mind was the hyper inflation in Argentine. In Buenos Aires, the prices on the restaurant menus were written in pencil and were changed several times a day. 

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On 4/7/2020 at 3:23 PM, artsnob said:

I was told by a friend who works in consulate in Mexico City, it will be put in your bank account where social security goes, otherwise mailed..

Has anyone on social security actually had their stimulus deposits show up in their bank account? I've read that you can't use the "Get My Payment" tool on the IRS.gov website if on soc. sec. as it will say that there is no available information.

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I/wife filed and paid taxes in 2018 but have not filed for 2019. I and my wife get SS.  I nor my wife have received the stimulus deposit. The website tells me and my wife that "no available information".

How much information do they want!?!  😁

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Turbo Tax posted a message suggesting we go ahead and file on the regular schedule to facilitate the stimulus payment.  I pay my taxes using the bank draft feature.  Haven't checked to see if it has arrived yet.

 

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1 hour ago, RickS said:

I/wife filed and paid taxes in 2018 but have not filed for 2019. I and my wife get SS.  I nor my wife have received the stimulus deposit. The website tells me and my wife that "no available information".

How much information do they want!?!  😁

If you draw SS the IRS will be using your annual 10-99 and direct deposit it into the bank acc't. where the SS deposits normally go. Was wondering how many actually received theirs in this manner.

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