Thursday, December 1, 2016

What does Agustin know that we don't?

Mexico City (AFP) - Mexico's central bank chief Agustin Carstens resigned Thursday, officials said, sending the peso on its latest plunge since Donald Trump won the US presidential election last month.
Carstens, who had compared Trump with a maximum Category Five hurricane because of his tough stance toward Mexico, will step down on July 1 next year, the Banco de Mexico said in a statement.
He is leaving to take up the post of general manager of the Bank for International Settlements, the Switzerland-based bank for central banks.
Analysts describe Carstens as a steady and experienced hand at the tiller amid a period of volatility for Latin America's second-largest economy.
A former deputy managing director at the International Monetary Fund, he became central bank chief in 2010 after serving as finance minister from 2006 to 2009.
The peso fell 1.2 percent Thursday after the news, to 21.05 to the dollar.
Likely a big Pemex scandal coming up.  Mexican politicians usually engage in direct fraud. 
Trump is not any big deal, in spite of some hysteria down there.  Mexico is mostly effected by some major theft, every president, sort of like us.  Something inside Mexico is forcing him out, maybe just the fear of getting murdered.

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