Mexican law put into effect to cap cash real estate transactions at 500k pesos

M

mis2810

Guest
If I had the cash to buy a $120,000 condo I'd be happy to report it to whomever would want to know and to pay my fair share of taxes on it. Then I'd sit my ass on my patio every single day for the rest of my life and enjoy my purchase and thank God that I had the money to buy it in the first place. I ain't got nothing to hide if I've worked hard to make the money.
 
E

Eduardo

Banned for Douchebaggery!
Buy gold and then pay the person in gold. Paper money is worhtless anyway. Mexico simply does not enforce any of its laws
 
R

rplarry

Guest
moore_rb said:
I agree that this law has no relevance to transactions carried out in the ELECTRONIC banking universe.

But, you have to understand what this law REALLY means.

The paper money that can only be legally printed and issued by a government, is concurrently being deemed (by that SAME government) to be illegal or improper for use in valid transactions of legitimate commerce between two willing parties.

They might as will spell in out simple terms right on the notes:

"This note is legal tender for all debts, public and private; EXCEPT in transactions where the bearer decides that they want a new place to live, or a new car to drive"

Dangerous legal precendent is being set.

Government currency control measures NEVER produce the desired results, and they never end well. Reference Argentina in the 80's, Mexico in the early 90's, Zimbabwe in the early 2000's... ad infinitum.

Governments (via the large global commercial banks) want ALL currency exchange to be performed over wires, where the transactions can be monitored, and global markets fully regulated, governed, and otherwise completely controlled... from London.
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"Government currency control measures NEVER produce the desired results, and they never end well. Reference Argentina in the 80's, Mexico in the early 90's, Zimbabwe in the early 2000's... ad infinitum."

And the US will most likely follow suit in 2013-2014. We are on our way, regardless of party. It's gonna get ugly folks.

And, that is my guess why you see so many nice, large beachfront homes in Las Conchas for sale. It's not that they 'need' the money. It's that they want their money. Because.... if they don't sell now, they'll probably never get their money out of their properties. Once the dollar bubble goes off in the States, all real estate values will implode as well as Mexican vacation and investment real estate.
 
moore_rb

moore_rb

Stay Thirsty My Friends
Roberto said:
Are you Tyler Durden?
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Tyler Durden is the nom de plume of an entire staff of editoral contributors.


To those of you who know what to expect over the next several years, take comfort in the fact that the 3 smartest and most successful people on this forum (Roberto, Jerry, Kenny) think you're all nuts.

and, regarding the "harmless" act of having to report large cash transactions to taxing authorities... why is $10,000 (or 500k pesos) the limit? why not $1000? why not $50? Once the legal precedent is set, the law can be "tailored" to maximize the burden on the largest segments of the population, and THAT is the real slippery slope of government.

So, all you "Jerry's" out there who think that the law is just, as long as it treats "rich" people more unfairly than it treats "poor" people, pay careful attention to the fact that the REAL end effect of law is that it affects the LARGEST segments of a population the most... not the richest segments.


So, just about the point that society finally comes around and figures out that the war on drugs is lost, you can expect any and all legalization measures to carry some pretty hefty "premiums" of use... like the tobacco tax on steroids.

How else will the tax authorities make up for all the revenue lost via the criminalization of non-reported cash purchases by the nefarious "drug dealers"... I mean, "pharmeceutical companies" only pay minimalist corporate taxes (and the ones incorporated in the Cayman's pay even less)?


But of course, none of this has anything to do with real estate - I can't wait until resale prices in RP are lower than material costs... Oh wait- You mean they already ARE lower? and STILL there is no one coming in to buy the available inventory?


Hmmm..... look out below.
 
moore_rb

moore_rb

Stay Thirsty My Friends
rplarry said:

"Government currency control measures NEVER produce the desired results, and they never end well. Reference Argentina in the 80's, Mexico in the early 90's, Zimbabwe in the early 2000's... ad infinitum."

And the US will most likely follow suit in 2013-2014. We are on our way, regardless of party. It's gonna get ugly folks.

And, that is my guess why you see so many nice, large beachfront homes in Las Conchas for sale. It's not that they 'need' the money. It's that they want their money. Because.... if they don't sell now, they'll probably never get their money out of their properties. Once the dollar bubble goes off in the States, all real estate values will implode as well as Mexican vacation and investment real estate.
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Now you're talking like a whacky conspiracy theorist, too Larry.... I must have infected you with my open minded "mental illness"

but don't worry- our resident head-shrink will straighten you right out. Just so long as you don't park in front of his favorite machine-gun bunker.
 
GV Jack

GV Jack

Snorin God
Jerry, Jerry, Jerry. Now you've gone way too far.

It's one thing to take away his car keys and his gun, but to even mention locking the liquor cabinet is totally heartless.

I know it won't be lomg before 'ol umm, err, what's her name will take away my car keys, gun not a problem, don't own one,
but my fists are registered...but if she even thinks of locking my beer box, there will be a fight 'till death do us part.

I can't believe you are that mean.
 
Roberto

Roberto

Guest
moore_rb said:
Tyler Durden is the nom de plume of an entire staff of editoral contributor.
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Hmm, sound ominous a whole host of annoynymous editors forcasting the state of the universe. Guess that makes sense since I'm sure there would be government hit men looking for them, given their incredible knowledge and understanding of the secret inner workings of nefarious governments. It's always nice to have special knowledge that the masses of igorente don't have. Hey maybe I'll sign up !! You could do it too Moore, you'd be really good at it and it might even pay !!
 
Roberto

Roberto

Guest
After some deep and prolonged thought and careful analysis, I have come to realize that that absence of Government Currency Control is the real reason that a cure for cancer has not been found. I dare you to prove that it not true.

This thread has clearly segued into the Rants and Raves category. Just look at that stuff GV is posting, unbelievable he has not been sent to camp for that.
 
Kenny

Kenny

Guest
=moore
To those of you who know what to expect over the next several years, take comfort in the fact that the 3 smartest and most successful people on this forum (Roberto, Jerry, Kenny) think you're all nuts.
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Being a person of some intelligent who successfully woke up this morning, I've decided to given this statement some long and serious thought, but I need some more info Moore. What's success in your world, and how long have you been speaking to these people who like you, know what to expect "over the next several years"? Are there many of them, and can you speak to and see them all the time? Or do they, lets just say, come to you at certain times, like when your're under stress?
 
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moore_rb

moore_rb

Stay Thirsty My Friends
Kenny said:
What's success in your world
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In economic terms, I consider success the art of offering society a good or service that enables you to earn (or produce) more than you consume, and being able to save the difference.

In private terms- I consider success to be waking up every morning and having something other than that first shot of whiskey (or that first cigarette) to look forward to; and going to sleep every night knowing that tomorow might be even better than today was.

In inter-personal terms, I consider success to be the feeling I've gotten from waking up next to the same woman for the past 20 years, and looking forward to waking up next to her for the next 40+ as well. I consider success to be every blue ribbon my kids proudly wave in my face, and every A on every Report card that they bring home for me to sign.

Ultimately, my success will be optimized when/if THEY wake up every morning and have something other than that first cigarette (or that first shot of whiskey) to look forward to at the start of THEIR day.


Kenny said:
and how long have you been speaking to these people who like you, know what to expect "over the next several years"? Are there many of them, and can you speak to and see them all the time? Or do they, lets just say, come to you at certain times, like when your're under stress?
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I speak to them every time I cross the border and they ask me how much cash I've got, or what I do for a living to afford such a nice boat, or whether I'm carrying any guns or ammunition.

I speak to them every time I have to board a plane on business as they invade my personal space and brush the backs of their hands over my physical person and ask me to step in front of their radiation emitting device so they can see what's under my clothes.

They know what's coming, and so did Aldous Huxley, and so did George Orwell, and so did HL Mencken, and so did Harry Browne, and so do YOU. Yet, for some reason it is more entertaining to you to maintain this discussion in ad hominem terms.
 
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