Remittances: The “R” Word No One Talks About

The next time you see a gushing news story where you live about how “new Americans” are causing your city’s economy to blossom, check the study and see if the “Welcoming” gang has factored in the amount of money LEAVING your community!

Remittances are the dollars, US dollars, leaving the US economy and are the primary reason countries like Mexico, El Salvador, India, countries in Africa (e.g. Somalia!) and so forth want their migrants to get to the US where they can find employment and welfare (and fraud/crime) in order to send money back ‘home.’

I’ll bet you will never find any figure in any glowing economic study written by the likes of  Welcoming America and the New American Economy globalists that shows how much money is leaving your city or state for a foreign country.

The Federation for American Immigration Reform and other immigration restriction groups see those huge outflows as a source of funding for border security and the wall.

From FAIR’s Bob Dane,

Legal and illegal migrants sent $53.4 billion in remittances back to Mexico and Central America in 2018. That’s $53.4 billion – with a “B” – and more than double the projected cost of building a border barrier.

Remittances to Mexico alone reached $33.7 billion in 2018, up 21 percent from roughly $27.8 billion in 2016, the World Bank reported.

Remittances to Central America are spiking with a growing inflow of asylum seekers benefiting from U.S. catch-and-release laws. Wire transfers to Central America hit $19.7 billion last year, up from $15.8 billion in 2016. The southbound windfall includes payments to human-trafficking cartels.

With an estimated 83 percent of Mexicans who enter the U.S. illegally sending money home, a surcharge on remittances is one sure way for President Trump to make good on his promise to make Mexico pay for the wall.

For a few cents on the dollar it wouldn’t take long for Mexico to pay for the wall! Dane continues,

At the current (and rising) rate of remittances, a nominal 2 percent surcharge on Mexico-bound funds would raise $674 million for a border wall in the first year. Slap a fee on all foreign remittances — $150 billion last year — and the 2,000-mile barrier is fully paid off within eight years.

See the World Bank study. There is big money for global banks in this migration business, while those billions leaving the US are no longer available for circulation in your local economy!

Looking for something to do?

The next time you see any mention in local news about how your city is booming because of “new Americans,” call the reporter, ask him/her for the study the news is based upon and look to see if any mention is made of money leaving your city or state for a third world country.  If it’s not there, write a letter to the editor to tell the public that the study is bogus.

And, hey, I will bet there is no mention of costs for the criminal justice system in the glowing economic report either.  There might not even be the costs for your local school system!

EDITORS NOTE: This column by Frauds, Crooks and Criminals with images is republished with permission. The featured photo is by Daria Nepriakhina on Unsplash.

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