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Tag: currency exchanges

pesos

Mexicans Making Easy Currency Exchange Profits Thanks to Drug Cartels

Mexican drug cartels, along with an untold number of global criminal and terrorist organizations, launder billions of dollars every year through banks and money service businesses. In order to curb this cartel activity, the Mexican government has severely limited the amount of American dollars that can be deposited into numbered accounts. A side effect of this policy, however, has been that Mexicans and travelers who pass through the country’s airports can quickly and easily profit from buying U.S. dollars at a loss, then selling them a few feet away for pesos at a roughly 3 percent profit.

Reuters

Venezuela Socialist Price Controls Make Scotch Cheap, Medicine a Luxury

For years, the socialist government of Venezuela has imposed price controls that appear to artificially– and arbitrarily– make some necessary goods impossible to find while making useless luxuries accessible. Never has the situation been as chaotic as this year, experts say, when the market has been flooded with Canadian pines and barbie dolls, but flour and milk remain luxuries.