Excerpt:
Grupo Financiero Banamex S.A. de C.V. has its origins and is the owner of Banco Nacional de México or Banamex, Mexico's second largest bank behind BBVA Bancomer. The Banamex Financial Group was purchased by Citigroup in August 2001 for $12.5 billion USD. It continues to operate as a Citigroup subsidiary.
http://boardreader.com/thread/Mexico_Not_Accepting_US_Dollars_Forums_p_boqjXshtj.html
Excerpt:
Thread: Mexico Not Accepting US Dollars - Forums powered by WWWThreads | ||
 Started 9 months, 1 week ago by billybob76511 I received this on a Mexico newsgroup I subscribe to: I just discovered, that, as of last Monday, U.S. Dollars (cash) are no longer accepted for exchange in my bank (Banamex) and presumably in no other bank in Mexico either, since, according to my banker, the order came down from the National Banking Commission. The only form in which they can accept dollars is as traveler's checks - with the ... | ||
http://www.applevacationsblog.com/2010/09/new-mexican-law-on-accepting-us-dollars/
Excerpt:
New Mexican Law on Accepting US Dollars
The Mexican Government passed a new law, which comes into effect in Mexico starting September 14, 2010. I wanted to share the information, which I have received from our off offices in Mexico so everyone is aware.
Starting September 14, 2010 the use of CASH American Dollars to make purchases in Mexico will not be as free as it has been in the past.
Many repeat guests to Mexico who have become accustomed to using American Dollars CASH in Mexico as though they were effectively in the United States will notice the difference. Other payment methods such as Credit Cards of all types and all issuing banks, Travelers Check’s, Mexican Pesos and non American Dollars foreign currencies in cash (ex Euros or Canadian Dollars) are not affected in any way by this new law.
The most noticeable differences to Apple Vacations’ customers will be:
Vacationers should never carry large amounts of American Dollars cash with them to Mexico, but instead they should consider either using a Credit Card, taking Mexican Pesos cash, taking Travelers Check’s (of any currency) or withdrawing money locally in Mexican Pesos.
I know I do that myself on vacation, when I land in resort, I seek out an ATM machine and withdraw money in a foreign currency. I hope you find this information helpful.
Starting September 14, 2010 the use of CASH American Dollars to make purchases in Mexico will not be as free as it has been in the past.
Many repeat guests to Mexico who have become accustomed to using American Dollars CASH in Mexico as though they were effectively in the United States will notice the difference. Other payment methods such as Credit Cards of all types and all issuing banks, Travelers Check’s, Mexican Pesos and non American Dollars foreign currencies in cash (ex Euros or Canadian Dollars) are not affected in any way by this new law.
The most noticeable differences to Apple Vacations’ customers will be:
- Hotels and Exchange Booths will only be able to change a maximum of $1,500 USD CASH per person per month into Mexican Pesos. Previously there was no limit.
- Businesses (including Amstar DMC in Mexico) will only be able to accept a maximum of $100 USD CASH per transaction - but the number of transactions per customer is not restricted.
- Certain businesses may not be able to, or may choose not to accept American Dollars CASH for any purchase at all (this may include shops etc)
Vacationers should never carry large amounts of American Dollars cash with them to Mexico, but instead they should consider either using a Credit Card, taking Mexican Pesos cash, taking Travelers Check’s (of any currency) or withdrawing money locally in Mexican Pesos.
I know I do that myself on vacation, when I land in resort, I seek out an ATM machine and withdraw money in a foreign currency. I hope you find this information helpful.
http://socioecohistory.wordpress.com/2010/06/19/banks-in-oaxaca-mexico-no-longer-accept-american-dollars-61710/
Video
EXCERPT:
- What is going on here? Do the Mexican banks know something we don’t? My take is: Yes! We are heading towards a global monetary collapse driven by a sharp devaluation of the USD! Be warned, fiat currencies will tumble against hard assets like precious metals, commodities, oil….etc.
FRESNO, California – SoCal Martial Law Alerts (SCMLA) interviewed Lee, an American who discovered while on a recent (Christian) mission trip to Oaxaca, Mexico, that Mexican banks will no longer exchange American dollars for Mexican pesos. Lee said that, when he first arrived in Oaxaca two weeks ago, the banks would still exchange American dollars for Mexican pesos, but then when he accompanied a friend to a Mexican bank approximately one week ago, that’s when he discovered the policy change regarding dollar-to-peso currency exchanges.
http://www.sandiegoreader.com/news/2010/nov/11/tijuanas-kentucky-fried-chicken-stops-accepting-us/
Excerpt:
Tijuana Kentucky Fried Chicken Stops Accepting U.S. Dollars
By T.B. Beaudeau | Published Thursday, Nov. 11, 2010
The Kentucky Fried Chicken outlet on Avenida Revolución recently posted a sign on its door stating that it will no longer accept dollars in cash for any of its chicken dishes. (They'll accept dollars only if one is paying by credit card.)
The store's posting of the notice (replete with a logo featuring Colonel Sanders) indicates that the outlet has succumbed to the dollar restrictions now in effect in the border city. Guards posted at the door explained the situation to would-be KFC customers.This is the first store of any kind where this reporter has seen such a notice since the restrictions on dollars in Tijuana began about a month ago; many businesses continue to accept U.S. currency.
Listen to the audio please.
http://www.kpbs.org/news/2010/sep/03/tijuana-airport-no-longer-accepting-us-dollars/
Excerpt:
Tijuana Airport No Longer Accepting US Dollars
September 3, 2010
Pack your pesos if you plan to fly out of the Tijuana airport. The airport will not accept US dollars starting September 11th.
The change to pesos only at Tijuana's airport stems from a new federal law in Mexico intended to crack down on money laundering.
http://en.wikipedia.org/wiki/North_American_currency_union
Excerpt:
Trade-offs
From the point of view of the Canadian and Mexican governments, a major obstacle to the creation of a unified currency is the sheer dominance of the United States in any such union, unlike any single country in the EU. In 2008 the USA had a GDP more than 13 times larger than the GDP of Mexico.[citation needed]
A paper from University of California, Santa Barbara puts forward the idea that the United States simply has too many advantages from the status quo to move toward a single currency.[10] The United States dollar already acts as a global currency, meaning any transition to a 'new' currency would risk compromising this position and could cause a shift toward the euro, yen or yuan.[citation needed] The U.S. dollar is currently being used in over half of all the world's exports, double the total United States foreign trade. The adoption of the amero could threaten the seigniorage that the U.S. currently gains from its dollar. While seignorage would still be gained from the amero, this would be shared among the Bank of Canada, the Federal Reserve, and the Banco de México. Therefore, even if the amero were used just as much as the U.S. dollar, the advantages would be shared among two or more countries, and not exclusively earned by the United States.
http://www.occ.gov/static/community-affairs/community-developments-newsletter/fall04/bank_borders.html
Excerpt:
The change to pesos only at Tijuana's airport stems from a new federal law in Mexico intended to crack down on money laundering.
http://en.wikipedia.org/wiki/North_American_currency_union
Excerpt:
Trade-offs
From the point of view of the Canadian and Mexican governments, a major obstacle to the creation of a unified currency is the sheer dominance of the United States in any such union, unlike any single country in the EU. In 2008 the USA had a GDP more than 13 times larger than the GDP of Mexico.[citation needed]
A paper from University of California, Santa Barbara puts forward the idea that the United States simply has too many advantages from the status quo to move toward a single currency.[10] The United States dollar already acts as a global currency, meaning any transition to a 'new' currency would risk compromising this position and could cause a shift toward the euro, yen or yuan.[citation needed] The U.S. dollar is currently being used in over half of all the world's exports, double the total United States foreign trade. The adoption of the amero could threaten the seigniorage that the U.S. currently gains from its dollar. While seignorage would still be gained from the amero, this would be shared among the Bank of Canada, the Federal Reserve, and the Banco de México. Therefore, even if the amero were used just as much as the U.S. dollar, the advantages would be shared among two or more countries, and not exclusively earned by the United States.
http://www.occ.gov/static/community-affairs/community-developments-newsletter/fall04/bank_borders.html
Excerpt:
Banking without borders: How Citibank’s new services help consumers in the U.S. and Mexico
 |
When Banamex, Mexico’s leading bank, merged into the Citigroup family of financial companies in 2001, we began looking for ways to better serve customers on both sides of the border. Citigroup’s acquisition in 2002 of Golden State Bancorp, gave us an expanded branch network and a greater ability to reach Hispanic customers in the western U.S.
We knew that many recent immigrants had banking needs but lacked even the most basic banking relationships. Chief among their needs were inexpensive and user-friendly remittance services to enable them to send funds to families or friends back home, and basic bank accounts offering security and convenience.
In April 2003, we introduced Citibank Global Transfers, which offers U.S. bank customers affordable, convenient, real-time money transfers domestically or to Mexico for a flat $5 fee. With a money remittance service in place, we then turned to offering products to support sending funds from the U.S. and receiving them in Mexico. Our solutions are the Citibank Access Account and the Banamex Tricolor Card, two new products that we rolled out in the fall of 2003.
http://www.freerepublic.com/focus/news/2607229/posts
Excerpt:
$35 billion in loan mods Mark Rodgers, a Citi spokesman, said the bank wants to help borrowers repay loans when feasible. "This would depend on individual circumstances and an agreement mutually agreed upon by both the lender and the borrower." Citi modified 370,000 loans worth $35 billion to help customers avoid foreclosure, the company reported in November. Thousands more borrowers are trying to get a break. Rodgers said Citi does not have data on how many of these new loans have defaulted.
http://www.loansafe.org/citimortgage-and-olin-business-school-partner-to-conduct-mortgage-industry-research
Excerpt::
www.citigroup.com or www.citi.com.
About Olin Business School
Olin Business School at Washington University in St. Louis has a distinguished faculty dedicated to rigorous and relevant research published in top journals across all business disciplines. Olin’s 12 degree and non-degree programs emphasize analytical and critical-thinking skills; applied learning; global competence; communication and collaboration skills – advancing today’s business world and tomorrow’s global leaders.
http://www.freerepublic.com/focus/news/2607229/posts
Excerpt:
$35 billion in loan mods Mark Rodgers, a Citi spokesman, said the bank wants to help borrowers repay loans when feasible. "This would depend on individual circumstances and an agreement mutually agreed upon by both the lender and the borrower." Citi modified 370,000 loans worth $35 billion to help customers avoid foreclosure, the company reported in November. Thousands more borrowers are trying to get a break. Rodgers said Citi does not have data on how many of these new loans have defaulted.
http://www.loansafe.org/citimortgage-and-olin-business-school-partner-to-conduct-mortgage-industry-research
Excerpt::
www.citigroup.com or www.citi.com.
About Olin Business School
Olin Business School at Washington University in St. Louis has a distinguished faculty dedicated to rigorous and relevant research published in top journals across all business disciplines. Olin’s 12 degree and non-degree programs emphasize analytical and critical-thinking skills; applied learning; global competence; communication and collaboration skills – advancing today’s business world and tomorrow’s global leaders.
Contacts
Olin Business School
Melody Walker, 314-935-5202
or
Citi Public Affairs
Mark Rodgers, 212-559-1719
http://www.eppc.org/scholars/scholarID.95/scholar.asp
Excerpt:
20 Most Corrupt Members
http://www.huffingtonpost.com/2006/09/20/20-most-corrupt-members-o_n_29863.html
Excerpt:
Members of the Senate:
Conrad Burns (R-MT)
Bill Frist (R-TN)
Rick Santorum (R-PA)
Melody Walker, 314-935-5202
or
Citi Public Affairs
Mark Rodgers, 212-559-1719
http://www.eppc.org/scholars/scholarID.95/scholar.asp
Excerpt:
20 Most Corrupt Members
http://www.huffingtonpost.com/2006/09/20/20-most-corrupt-members-o_n_29863.html
Excerpt:
Conrad Burns (R-MT)
Bill Frist (R-TN)
Rick Santorum (R-PA)
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