Exchanging Money

While money is the most important commodity for life it is also the most disastrous. To live without it is impossible in a world where essential services and the things on which life depends has a cost to it. Even water is not free and if man had his way we would pay for the air we breathe, and in many ways we already do. Pollution, environmental destruction, loss of species, and dwindling resources are a cost that none of us can afford. Our planet is dying and we are in crisis.

That is the real exchange for money and while most may not realise it the benefits derived from it are nothing but disastrous. We have yet to face the greatest disaster of all and that is the last days of life on earth.

There are no warning bells and no place to jump off the earth to escape because we are exchanging money for life. That is the way it was when it was invented and to understand that the Spirit took me back to Babylon and the start of formal religion, Islam.

The name of it then was also Zoro-Aster or Morning Star and a vision showed me how it came about. The rising sun’s rays were directed through a small hole in a stone to disperse into the rings of great beauty and perpetual motion. The people fell to their knees in ‘awe’, which is the same term as ‘or’ for ‘sun’ and ‘metal’, the most precious of which is gold.

The human mind is capable of the wildest dreams and the result of the sun-star and its effect on the population was so strong that it has never altered. In the center of the vision the right-angled cross is seen and this gave men the idea that by dying on it the rays of light could be ridden upwards into heaven. It was considered that men would then become mates to it and live forever in the home of the stars.

In other words they could ‘marry’ Mary, the name of the sun-star and it means ‘mother’s powerful eye’. The one on the cross was the ‘man in the eye’ or ‘mon-eye’ from whence came the term ‘money’. He was the exchange and the currency by which he traded his life for which he became a ‘god’, which is the origin of ‘good’ and ‘goods’.

Money is the product of a dream and the evil of notions that men can become Father Gods. It was born of evil and is the cause of God’s retribution and the destruction of the coming destruction of the earth.

The second beast, Constantine, put money as the center of the World Order. He also established the Catholic Church, the first Christian religion in 325. My reincarnation proves that the pillars of that religion, heaven and hell, do not exist and so the credibility of his work is based on dreams and lies.

Exchanging Money in Oaxaca, Mexico: Last Year’s Dramatic Change to the Law

Last year marked a dramatic change in the ability of visitors to Mexico (and Mexican residents including business owners for that matter) to exchange their US dollars into pesos.

Traditional Methods Used for Exchanging Dollars into Pesos

Until May, 2010, Mexicans and international tourists alike were able to freely attend at the bank and exchange their dollars for pesos. Rates were posted, and it was simply a matter of comparison shopping and then transacting the exchange. For residents of the country, in particular those in the hospitality industry serving predominantly Americans (innkeepers, tour guides, restaurant owners, etc.), this was a key means by which business was conducted. It was particularly important in cities such as Oaxaca which rely on tourism for their very existence. Travelers would pay their accounts for accommodations in American dollars – sometimes as a result of having been quoted US dollar prices – and the beneficiaries of their money would simply go to the bank and exchange funds into pesos. Alternatively they would deposit dollars into their business (or personal) accounts, and the financial institution would do the conversion, generally using a preferred rate.

For tourists as well, it was often a case of comparison shopping, and then an unfettered exchange of dollars for pesos. For visitors to Mexico there was always the option of comparing rates at casas de cambio (storefront exchange houses) as well as banks. But for Mexicans, the banks were the better medium for exchanging dollars for pesos.

The Change in Mexican Rules and Regulations Regarding Changing US Dollars into Pesos, as Applied in Oaxaca

Now, a resident of Oaxaca for example, cannot simply exchange dollars into pesos in a bank, or deposit dollars into a personal account or even some types of business accounts. The business end of matters is complicated and beyond the purview of this article. But suffice it to say, Oaxacans must now either use casas de cambio (with a less attractive rate of exchange more often than not), or open the type of business account permitted by the change in rules.

For tourists to Oaxaca seeking to change dollars into pesos, while banks continue to post the rate of exchange, almost to a number they no longer do the exchange. This means that visitors are restricted to using casas de cambio, credit cards, or ATMs to obtain pesos.

While suburban Oaxaca branches of Scotiabank follow the new dictate and do not exchange dollars for pesos or deposit US dollars into a personal account, the main downtown Oaxaca branch of Scotiabank still does exchange dollars for pesos, at least for a non-Mexican with presentation of a passport and a copy of the photo page; and while after the new rule came into effect a Scotiabank representative advised that implementation of the new law “was imminent,” we’re still waiting for the Scotiabank branch to follow suit.

The Rationale for the Change in Law Regarding Exchanging Dollars into Pesos

Word on the street is that there are two primary reasons for the change:
• The change is designed to curb money laundering and adversely impact the ability of drug traffickers to carry on business.
• The change addresses the more general underground economy where individuals (business owners and operators) have been able to accept US dollars and simply attend at the bank to secure pesos, directly or through personal accounts.

The Actual Impact on Tourists in Mexico, including Oaxaca, of No Longer Being Able to Exchange Dollars for Pesos at Banks

For tourists to centers in Mexico such as Oaxaca, the impact will not be that significant on an individual basis. Yes, being restricted to attending casas de cambio means that travelers will no longer able to shop for the most competitive exchange rate to the same extent as before, because using the banks will no longer be available to them. Casas de cambio will now better be able to monopolize this segment of the tourist market.

Business owners now struggle with whether or not to continue to quote and demand US dollars, or the peso equivalent with a view to continuing their ability to carry on as before. They can attend at casas de cambio of course, but the rate of exchange will not be as attractive. And how long will it be until regulations are imposed on how casas de cambio conduct business in terms of requiring additional documentation from those using their services, and remitting information to government?

How Exchange Rates Work

When traveling, it is usually a necessary task to exchange your usual type of money to the type of money used in the area of which you are traveling. For instance, if you are traveling from the United States to China, you will want to exchange U.S. dollars into Yen. You know that you will need to exchange your money, but how do exchange rates really work?

All currencies used within the world have a value. This value depends on the current market and fluctuates as much as the market itself fluctuates. Essentially what happens when you exchange currency, you are buying money. For instance, if you want to exchange U.S. Dollars into Swiss Franc, you are buying Swiss Franc with your U.S. Dollars.

If you are looking to exchange money, you will want to look at the exchange rates. Knowing how much money you will get in the exchange will require some homework on your end. You will have to look it up, your local newspaper may be a good place to start. They often list the rates daily in the money or business section.

If your local newspaper is not a reliable source for you, the internet can be a great source as well. You can visit the stock exchange or any stock related website and typically find information regarding exchange rates. Also, the internet plays host to many calculators that will take the current exchange rates and convert your currency into that of your destination to help you plan ahead.

However, before you can begin getting the exchange rates, you have to know the type of currency you are looking to exchange your money for. The following is a list of some countries and their money to help you get started:

o United States – USD – US$ – American Dollar

o Argentina – ARP – $ – Argentinean Peso

o Switzerland – CHF – SwF – Euro

o Austria – ATS – S – Austrian Shilling

o Sweden – SEK – Sk – Euro

o Australia – AUD – A$ – Australian Dollar

o Spain – ESP – Ptas – Euro

o Brazil – BRR – R$ – Brazilian Real

o South Africa – ZAR – R – South Africa Rand

o Canada – CAD – Can$ – Canadian Dollar

o Germany – DEM – DM – Euro

o Italy – ITL – Lit – Euro

Knowing the symbols and the currency type will help you identify the currency exchange rates more accurately and efficiently.