Nationalization of all foreign owned properties

[gmiller261]

I have heard from a very reliable person that things will get much, much worse so you better plan ahead and sell your property. The DR is going to nationalize all foreign owed properties. The maids, gardeners and pool cleaners you have will take over your homes. for rizal.

Definition: Nationalization is the act of taking private assets into government or state (a political entity possessing sovereignty).

And this is why I say that: (o excuse me... heard from a reliable thing).

1) Nationalizing all foreign property, to my estimate (their's), would net close to 15 billion USD dollars and not hurt the tourist industry. Now that would put money back in graft bucket.


And this has been common praticece through history, more than 'corralito', see history below.

Cardenas President of Mexico
1934-1940


Cardenas made laws that changed Mexico forever. Cardenas preferred the method of consolidated land holding rather than private ownership. He seized millions of acres of privately owned land and distributed it as ejidos, which are peasant communities in which land was individually worked or collectively farmed (Knight, 554). Cardenas also tried to implement a socialist education but that came to an end soon after his presidency, since it was opposed by the Catholic Church as well as many peasants. Above all Cardenas achievements under the agrarian reform were remarkable, noting how he distributed land to many peasants therefore enlarging the agricultural land which then gave way to high levels of cultivation.

Over a quarter of the national territory (more than 55 million hectares) was expropriated and re-divided between 1924 and 1970. But with the withdrawal of state support in the form of credit, water resources, transportation and marketing advantages, and technical assistance, the ejidos could not compete successfully with private farms. Other land redistribution attempts have occurred in other Latin American countries, such as Bolivia, Peru, and Cuba, with similar mixed results.


Now, don't think, just run to your nearest real estate agent.

[BushBaby]

Gary,
I would be MOST interested in knowing your "Reliable" source - please PM or e-Mail me in confidence!!!

I have been here nearly 12 years now & have some pretty good contacts myself & NOTHING of that nature has hit my ears. I am NOT suggesting for one moment that this Government won't do that & I am not suggesting that all in the garden is lovely, but I would be MOST surprised to see such a drastic decision being taken by this "Administration???". The repercussions would be most serious for them. There are some pretty influencial foreigners in this country & Hippo would be well advised to bear this in mind!!

At this moment I am hoping & praying that Leonel has something agreed with Hatuey de Camps that will spill on to the political scene on Wednesday 12th May. Something that will be hard to refute & ensure overwhelming support for him on the 16th. I am not holding my breath for this though!!! - Grahame.

[Rocky]

Originally Posted by gmiller261

1) Nationalizing all foreign property, to my estimate (their's), would net close to 15 billion USD dollars and not hurt the tourist industry. Now that would put money back in graft bucket.
.

And not hurt the tourist industry?
You have got to be kidding. If Lord Hippo were to try to pull a Castro, the repercussions would be even greater than what happened in Cuba, what with the modern age of communications and news, that we live in.
I don't doubt that the thought has crossed El Burro's mind, as he exibits "dictator like" tendencies, but we don't expect to have him around much longer, and certainly Leonel has 3 digit IQ and would never consider such a move.
Now, please do tell us about your source of info, or anything that might substantiate your suspicions.
Marco.

[Lambada]

Are you envisioning the sort of thing which happened under Mugabe in what used to be Rhodesia? A most interesting thought! Maybe atime when one's personal political principles wouldget a little frayed at the edges!

[Ken]

Scare talk and nothing more as far as I am concerned. The DR is too dependent on foreign investment to even seriously consider doing something like that.

[gmiller261]

and thanks for your reply in the thread "Warning!!!!! Take your dollars out of the bank."

Escott, it is nice to have a "legend in his own mind" as a neighbor.

Re dollars in the banks, it is very possible the government may temporarily freeze withdrawals from the bank. This has been done before. But it is extremely unlikely the government would confiscate the dollars. The consequences of this would be too great.

Ken I trust your opinion, and we all agree Escott, that there is the possiblity. Maybe even Nationalization.

Gary

[gmiller261]

Mis-information is much worse than no information.

I was inferring NOTHING in my ‘USD withdrawal’ thread, just countering outrageous quotes like this thread perpetrated: Warning!!!!! Take your dollars out of the bank.. This thread should have been closed.


Which was started by the same person who replied to my ‘USD withdrawal’ thread with: “And at one point I withdrew US $ 5,000 from Banco Popular. Your point being?” I do not know about you but this type of revelation makes me dizzy.

Oh and please do not reply that $1500.00 is so puny. I understand that the withdrawal of this amount does not constitute a healthy banking system. My statement was only to give a different point of view. (Isn’t that kind of money a year’s salary to most Dominicans?)

I was not challenged by any ‘management’ which the above thread, I believe, tried to indicate. They were wrong, for the time being (“I have heard from a very reliable person that things will get much, much worse”). Timeframe implied = NOW.

Post elections will be the next milestone and I do believe the ‘puppeteers’ will manipulate the peso to higher levels.

This will allow them to sell off their USD at a tidy profit, but bear in mind, though, that it will be very short lived.

I do not believe there is enough USD in DR Banks to make a difference, only to really **** people off. And that would hurt the tourist industry harder in the pocketbook, which I believe is DR's only source of good money.

[Rocky]

Originally Posted by gmiller261

and thanks for your reply in the thread "Warning!!!!! Take your dollars out of the bank."Gary

Aren't you the dude who started this thread, preaching doom and now you agree with Ken that this would never happen here?
Then you go on to say "Mis-information is much worse than no information."
Now I generally go out of my way to be polite and patient with those of differing opinions, but me thinks you are mentally challenged.
Marco.

[gmiller261]

It was a pitiful joke. I apologize. I was hoping to make a point to some of the people who posted in this thread "Warning!!!!! Take your dollars out of the bank."

I did not start that thread.

But in many ways it is very much the same. The DR government could take/convert USD in their banks and they could nationalize the land/buildings.

I just despise the "chicken little" approach. NOT to say people should not be cautious. But at the same time anyone that starts threads like I did and the person who started the thread "Warning!!!!! Take your dollars out of the bank." is doing a disservice to people as well.

Any real information, NOT (a reliable source) would be appreciated.

Therefore my comment "Mis-information is much worse than no information." hold true to this thread (I started) and the thread "Warning!!!!! Take your dollars out of the bank."

Gary

[Ken]

gmiller, thanks for saying you trust my opinion. However, if you want people to say the same about you, you better stop playing your little games with misinformation.