Americans' life savings disappear from Mexican bank accounts

Americans' life savings disappear from Mexican bank accounts
read:https://www.msn.com/en-us/money/mar...ican-bank-accounts/ar-AABNfHw?ocid=spartanntp

This is what happens when you bank offshore. Places like Mexico are full of corruption and they will steal your money Whenever they can.

International banking can be a scam. All the more reason to use local USA banks.

 

Who would put money in a Mexican bank?

 

It's a 3 letter word: Tax.

 

Tax cheat.

 

Well, it could also be that they planned to retire in Mexico then have their funds close at hand.

 

Don't worry, I'm sure Mexico will launch an investigation...

[a little bit of sarcasm there]

In Mexico, family members of missing or murdered persons often have to pay the police bribes in hopes it will make the police actually bother taking the effort to investigate.
Often they don't even know whether their bribes actually worked.

 

Build the wall!

 

Anybody that trusts the Mexican Government I believe had rocks in their head. I have seen all to often what has happened to those who have.

My uncle was one of them. He married a Mexican lady and moved down there in the 1950's. By the 1970's he had lost everything, the government passed a law claiming all property owned by "foreigners", and he was one of them (he set up a construction company down there after WWII). He moved back to the US after that and never returned.

And this still goes on today. In 2000, the government evicted hundreds of families (mostly retired) who had bought homes in Baja. I knew one of them, when he retired from Northrup he and his wife sold their house in LA and bought a nice beachfront house with their retirement and profits from their house sale. They spent the next several years traveling back and forth between LA and their house in Mexico. Until 2000.

In 2000, the government once again made the decision that no foreigners could own property in Mexico. Never mind that they did not actually own it, it was actually a 30 year lease the land company had set up to try to avoid that from happening. But the government did not care. He literally was given 5 days to move out all of his belongings or they would be claimed by the state. As he was moving he actually met the new owner of his house, the government had sold it even before he was out.

And they have done this many times since then.

No, anybody that even thinks of buying property there has to be a retard, or mental.

Sadly my friend has been dead for many years now. He lived out his last years in a cheap 1 bedroom apartment in Van Nuys. His entire life savings was wiped out, and he lost most of his belongings because he could only make 3 trips before the government took them. Instead of living comfortably, he lived paycheck to paycheck on his pension and Social Security.

I trust no companies in Mexico, because I do not trust their government. It is one of the most corrupt in the world I believe, and that will likely never change.

 

"To those thinking about buying property in Mexico, I would say without hesitation, rent. Because then you can pick up and leave. Never, ever invest," McCall said.
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https://www.latimes.com/archives/la-xpm-2000-oct-27-mn-42784-story.html


also, a related thought-provoking thread about this issue: Corruption & Poverty

Maybe Mexico remains poor because there's so much corruption and it's hard for people to build any wealth because the system in place doesn't do a good job of protecting it.

 

I regard Mexico as a thoroughly corrupt narco state.

 

And this is all largely because of the ineffectiveness of their judicial system.

Not only is their no capitol punishment in Mexico, there is not even Life Without Parole or even "Life". And sentence in excess of 25 years is considered "Cruel and Unusual" punishment. They also refuse to extradite anybody that faces those charges, hence that is why over 400 murderers and other serious offenders are known to be living there without fear of arrest and being extradited to the US and other countries.

If you are a drug trafficker, what is there to stop you from killing dozens or hundreds of people? El Chapo ran one of the major drug cartels in that country for years before he was finally arrested in 1993. And every time he was arrested he escaped, he was worth billions and made even more as over 60,000 Mexicans were killed in the drug wars. He was finally arrested again in 2014 after being on the loose for 13 years. Only to escape yet again 2 years later. He is the one exception to those rules, and he was extradited to the US after the judge involved in his extradition hearing was assassinated in 2016.

The US agreed to not execute him, and to not sentence him to more than 20 years in jail. However, we are allowed to have trials for each off the 100+ major charges in 7 different Federal Courts. And have the sentences run consecutively. He was convicted in the first trial a few months ago, of all 17 counts. Under the extradition agreement we are free in just this one trial to sentence him to 240 years consecutively.

Until Mexico starts to get tough on their drug gangs, they will never be a safe country to visit again. I lived for 5 years just across the river from Juarez, the deadliest city in the world. Bodies with their heads and hands cut off being hung from freeway overpasses was part of their regular morning traffic reports.

"Avoid such and such road at this offramp, 3 bodies have been hung from the overpass." And they would also do things like board up inpatient drug rehabilitation hospitals and set them on fire, killing over 100 inside because it would reduce the number of mules they could recruit. To people like that, what kind of threat is a 25 year sentence?

 

It's a pity the British didn't get there first. Instead Latin America inherited the Spanish tradition of corruption, nepotism and inefficiency and all accompanied by bad laws. Even the better ones are not up to first world standards.

 

Maybe so they can use it to build tRUMPs wall?

 

Actually, that did kind of happen. Which in many ways is why it is that way today.

In 1861, the UK in cooperation with Spain and France invaded Mexico, ostensibly to collect unpaid debts (many of them because of the rule of General Santa Anna). The next year both the UK and Spain withdrew after negotiating a repayment schedule with the Mexican Government, but France remained. Emperor Napoleon III then appointed Archduke Maximillian of Austria as Emperor of Mexico, on the condition that a plebiscite would confirm his appointment.

The US was to involved in it's Civil War to protest this violation of the Monroe Doctrine, and he remained in office until 1867. He actually was very interested in trying to heal the scars of the long running Mexico Civil Wars, and tried to establish many "progressive" policies. Abolish of child labor, the ending of debt bondage, setting a fixed allowable work week, eliminating corporal punishment, and ending the widespread practice of "trafficking" in peasants between wealthy land owners based on their debt bondage.

He also continued many of the practices of the previous Juarez administration. land reform, religious freedom, and extending the right to vote to all citizens, not just the wealthy land owners. He was not trying to create an absolute rule monarchy, but a modern Constitutional Monarchy. But he angered to many of the wealthy aristocrats, the US ended it's Civil War and started to get serious about enforcing the Monroe Doctrine, and the French pulled all support. In 1867 his government collapsed, he was captured, and on 19 June 1867 he was executed.

On his way to the firing squad, he gave each of the members of the firing squad a gold coin, asking that they not shoot him in the head so his mother could see his face one last time. His last words were in Spanish when he said "I forgive everyone, and I ask everyone to forgive me. May my blood, which is about to be shed, be for the good of the country. Viva Mexico, viva la independencia!" And his last request was granted, none of the 21 man firing squad shot him in the head.

I often wonder what Mexico might have become if his reign had continued. Even past and future President Benito Juarez liked and admired him and his ideals, but still fought against him and refused to stop his execution.

 

Someone who couldn't put it anywhere else.

...or so I would've answered before I read this thread.

Morons...

 

There have been many good Latino leaders who wanted better lives for the people but they inevitably get swallowed up the traditional negative areas of the cultures. The Castro family is the rule more than the exception.

Had they the US Constitution with the Bill of Rights they would be far better off but they missed out. It's doubtful whether the same Constitution, or anything similar, would ever pass in the third world, and may not even pass in America today. I like most of the Spanish culture, btw, good people, but they are kept down by the system.

 

People who live in Mexico.

There are a lot of expats who live in Mexico because of the standard of living. I think the only country with a US expat population even close to that of Mexico is the Philippines.

If you live in Mexico, it is cheaper to have all of your money in a local bank (in US dollars), and then withdraw it as needed in Peso. Laws in Mexico prohibit exchanging Peso for any other currency, so to fight inflation most deal in dollars as much as they can (most merchants accept it or even prefer it), and keep as few in Pesos as possible because of inflation.

 

I have a coworker who I found crying in the break room not long ago. She was ordering t-shirts for her sons memorial. ( I knew nothing about this and asked her if she was ok)

She fled an abusive husband in mexico 30 years ago with her young son.

Well her son grew up, and decided he was going to go down south to see his dad.

He disappeared.

The police did nothing and word got around to her relatives there that her son had been killed, and it was her ex who did it. He was part of the cartels.

The locals have their own way of dealing with things and the father disappeared also without a trace not long after.

I asked her how she knew her son and ex husband were dead if they were never found, and she looked at me and said "they are gone".

 

I'd like to send everyone who supports open borders to mexico for a bit.

For the cultural enrichment.

 

Absolutely incredible country to travel to if you have your head screwed on, horrible to live or do business in I would imagine.

 

Just like its neighbor to the north.

 

Police are at a crossroads in that shithole. If they move much in any direction the cartels kill them. It's much worse than the war on police in the USA.

It's been quite awhile since I heard someone say they were going to retire in Mexico.

 

You haven’t been around that much.

 

I've been around too much, seen too many things....

 

And we are to blame. If drugs were legalized in the US, and addicts could get prescriptions those gangs wouldn't exist.