A couple of weeks ago we highlighted the protests that had engulfed Mexico after the finance ministry announced plans to raise gasoline prices by 20.1% starting January 1st. Amid the chaos, the country's powerful Jalisco New Generation cartel threatened to to burn down gas stations as retribution for taking advantage of "the majority of the people who don't make even a minimum wage."
Following central bank governor Agustin Castens' comments earlier in the day that "intervention is a tool to smooth changes in currency value," and "Trump’s win has created uncertainty on Mexico’s growth model," Mexican Peso traders have come up with unusual solution: instead of dumping billions in intervention with no effect, buy Twitter and shut it down.
As Bloomberg reports, the strange idea has a certain logic to it...
Submitted by Nick Bernabe via TheAntiMedia.org,
Long-simmering social tensions in Mexico are threatening to boil over as failing neoliberal reforms to the country’s formerly nationalized gas sector are compounded by open corruption, stagnant standards of living, and rampant inflation.
Long-simmering social tensions in Mexico are now boiling over as millions of citizens revolt against their deeply unpopular government’s open corruption. Rampant inflation and a severe gasoline crisis have driven the country to the brink of revolution, yet mainstream media in the US continues to suppress the scale of events. Massive protests have forced the closure of the US-Mexico border in San Diego, California, several times in the past week alone as ongoing “gasolinazo” protests – over a 20 percent rise is gas prices – have led to over 400 arrests, 250 looted stores, and six deaths.
Submitted via Duane of Free Market Shooter
On Tuesday, president-elect Trump tweeted about General Motors, stating the GM was building its Chevrolet Cruze in Mexico, importing them to the US tax-free, and selling them at US car dealers:
General Motors is sending Mexican made model of Chevy Cruze to U.S. car dealers-tax free across border. Make in U.S.A.or pay big border tax!
— Donald J. Trump (@realDonaldTrump) January 3, 2017