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Revealed: How immigrants in America are sending $120 BILLION to their struggling families back home
Mail Online ^ | January 31, 2013 | Simon Tomlinson

Posted on 01/31/2013 11:38:18 AM PST by Obama_Is_Sabotaging_America

Migrants working in the United States sent a staggering $120 billion back to their families last year, it was revealed today.

The amount of money being sent by migrants across the entire world reached $530 billion last year, making it a larger economy than Iran or Argentina, the data from the World Bank showed.

(Excerpt) Read more at dailymail.co.uk ...


TOPICS: Culture/Society; Front Page News; News/Current Events
KEYWORDS: aliens; america; borders; corruption; democrats; fraud; govtabuse; immigrants; obama; remittance; world
Interesting diagram at link. For many immigrants, America is a money laundering operation! The only thing America exports is its currency!
1 posted on 01/31/2013 11:38:27 AM PST by Obama_Is_Sabotaging_America
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To: Obama_Is_Sabotaging_America

2 posted on 01/31/2013 11:41:06 AM PST by Obama_Is_Sabotaging_America (IMPEACH OBAMA)
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To: Obama_Is_Sabotaging_America

Y’all know what Thomas Sowell says about this, right?


3 posted on 01/31/2013 11:41:49 AM PST by Doctor 2Brains
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To: Obama_Is_Sabotaging_America

This author screwed the pooch on the very first word.


4 posted on 01/31/2013 11:41:56 AM PST by SpaceBar
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To: Obama_Is_Sabotaging_America

Yup. If they are sending that amount of money overseas, then they better stop bitching about this immigration overhaul BS.


5 posted on 01/31/2013 11:42:47 AM PST by max americana (Make the world a better place by punching a liberal in the face)
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To: Doctor 2Brains
Y’all know what Thomas Sowell says about this, right?

No, what does he say?

6 posted on 01/31/2013 11:43:58 AM PST by Hot Tabasco (Jab her with a harpoon or just throw her from the train......)
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To: Obama_Is_Sabotaging_America
The Fed is exporting currency primarily via illegals, the drug trade, and oil. They print it and it doesn't stay home to "cause inflation." Instead, it is the direct export of American wealth: your home, your retirement, and your children's inheritance.

Aren't they generous!

7 posted on 01/31/2013 11:46:55 AM PST by Carry_Okie (Islam offers us choices: convert or kill, submit or die.)
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To: SpaceBar

How so? Do you have a problem with the word “migrants?”


8 posted on 01/31/2013 11:55:34 AM PST by kabar
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To: Obama_Is_Sabotaging_America

Around here - Northern Palm Beach County - it all goes to Guatemala. Anchor babies in strollers on every corner.


9 posted on 01/31/2013 11:56:00 AM PST by FlJoePa ("Success without honor is an unseasoned dish; it will satisfy your hunger, but it won't taste good")
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To: FlJoePa

The plan is to bring all these relatives to the US and put them on welfare, SSI, SS, Medicare etc. That will slow the outflows,but increase the cost.


10 posted on 01/31/2013 11:57:49 AM PST by Oldexpat
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To: Carry_Okie
The amount of money being sent by migrants across the entire world reached $530 billion last year, making it a larger economy than Iran or Argentina, the data from the World Bank showed.

This is a global issue. It is also an incentive for the Third World to send more and more of its population to the developed countries as a matter of policy. Is it any wonder why the Mexican government doesn't clamp down on its border with the US? They get more in revenue from their nationals in the US than they collect in oil revenue.

11 posted on 01/31/2013 12:01:46 PM PST by kabar
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To: Obama_Is_Sabotaging_America

Big deal. Its their money. They can do with it as they please.

Now, can do something about expelling the ILLEGAL aliens and securing our borders?


12 posted on 01/31/2013 12:03:14 PM PST by Little Ray (Waiting for the return of the Gods of the Copybook Headings.)
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To: Oldexpat

The guys I know all have two families - one in Guatemala and one in the states. The pretend families they produce here (without stop, mind you) are just cash cows that allow them to send most of their earnings home.


13 posted on 01/31/2013 12:03:29 PM PST by FlJoePa ("Success without honor is an unseasoned dish; it will satisfy your hunger, but it won't taste good")
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To: Obama_Is_Sabotaging_America

Just think, if we had looser border control, they could ALL come here and there would be no need to send the money out of the country. Problem solved. /sarc


14 posted on 01/31/2013 12:08:34 PM PST by Optimist
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To: Obama_Is_Sabotaging_America

Ok...so can we END FOREIGN AID to all of those countries NOW?


15 posted on 01/31/2013 12:13:37 PM PST by montag813
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To: kabar
It is also an incentive for the Third World to send more and more of its population to the developed countries as a matter of policy

The way things are going here, we are soon likley to be exporting our people to better economic countries and sending that wealth back to the USA (sarc, sort of).

16 posted on 01/31/2013 12:17:59 PM PST by llevrok (Unlike Obama, at least Nero could play a fiddle.)
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To: Carry_Okie
"They print it and it doesn't stay home to "cause inflation."

Interesting, so your point would be that the dollar is used unofficially as a trading currency in multiple countries. Because as you know, dollars are only good in the USA which means somehow they are coming back... thus inflation. So your theory would then suggest these black markets are somehow impervious to the laws of money supply.

17 posted on 01/31/2013 12:19:23 PM PST by 11th Commandment (http://www.thirty-thousand.org/)
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To: kabar
It is also an incentive for the Third World to send more and more of its population to the developed countries as a matter of policy.

As we continue to export mechanized agriculture there is nowhere else for them to go but the sweatshops of the world. At a secondary level, the same is true for the export of manufacturing technology where printed money is loaned for big industrial projects.

Yep, it's global.

18 posted on 01/31/2013 12:22:02 PM PST by Carry_Okie (Islam offers us choices: convert or kill, submit or die.)
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To: 11th Commandment
Because as you know, dollars are only good in the USA which means somehow they are coming back... thus inflation.

Not true for a large fraction of it. There is a reason it is called "reserve currency." It's used for trade.

Black markets the world over accept dollars.

19 posted on 01/31/2013 12:24:55 PM PST by Carry_Okie (Islam offers us choices: convert or kill, submit or die.)
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20 posted on 01/31/2013 12:32:42 PM PST by DJ MacWoW (My faith and politics cannot be separated)
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To: Obama_Is_Sabotaging_America

The way 0bama’s America is going, it be long before ‘wealthier’ people in foreign countries will be sending money to their families in the U.S.


21 posted on 01/31/2013 12:34:22 PM PST by Obama_Is_Sabotaging_America (IMPEACH OBAMA)
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To: Carry_Okie
USD is the trade currency, but ultimately those dollars for the purchase of goods, not trade, are only good in the USA. For example, Arab country accepts USD for oil. Then the invest in a hotel in another Arab country. The investors accept USD. They in turn by other investment asset in the USA.

Agreed the USD is the currency of choice for black markets across the world, but it too is subject to inflation. If the dollar loses value, purchase and exchange power is lost. Many smart investor watch the black market to judge true currency strength. So in the end, the idea that USD oversees mitigates inflation does not hold. I would direct you to this informative piece on inflation. The comments by Freepers are very good Link

22 posted on 01/31/2013 12:37:22 PM PST by 11th Commandment (http://www.thirty-thousand.org/)
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To: 11th Commandment
So in the end, the idea that USD oversees mitigates inflation does not hold.

I just scanned some Federal Reserve documents (like this one, albeit it is eight years old, or this one). They show that foreigners actually hold more cash than in the USA, 55% of the total money stock. Nor are they talking about that money only being used here. BTW, I doubt seriously their analysis of the total cash floating around in the drug trade. They said it is only a $20-30 billion cash stock (95$) based upon the average domestic currency turnover rate of 30-50 times per year! I'd suspect the drug trade to be a third of that turnover rate given the nature of the supply chain. Given that the total amount of currency has tripled since 1995 my guess is that there is a half trillion floating around abroad. That ain't chump change when it comes to the total amount of cash they print.

Another big mitigating force against inflation right now is investment in precious metals, an investment that produces nothing and reduces monetary velocity considerably.

23 posted on 01/31/2013 1:44:19 PM PST by Carry_Okie (Islam offers us choices: convert or kill, submit or die.)
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To: kabar
Is it any wonder why the Mexican government doesn't clamp down on its border with the US?

I said it before: Charge the Mexican govenrment $2000 per month per illegal immigrant and watch the federales protect our border for us. The Libs have got to love this idea. It's a new source of revenue for them.

24 posted on 01/31/2013 2:16:47 PM PST by VRW Conspirator (Sometimes it takes calamity to lead to serenity - FReeper RacerX1128)
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To: Obama_Is_Sabotaging_America

So that’s what’s keeping the dollar afloat. Chandra Singh sends 100 bucks back to India, and that’s $100 less money circulating in the US economy, so the dollar maintains that much of its value, despite the federal government printing them like Argentine Junta pesos or German Weimar reichsmarks. So the more immigrants, legal or otherwise, the sounder the dollar. Support your country. Hire a Mexican today. He’ll send money back home./sarc


25 posted on 01/31/2013 3:40:32 PM PST by Eleutheria5 (End the occupation. Annex today.)
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To: Obama_Is_Sabotaging_America
think what our economy would be like if we threw them all out, and gave their jobs to AMERICANS that would spend that money HERE...
26 posted on 01/31/2013 5:50:36 PM PST by Chode (Stand UP and Be Counted, or line up and be numbered - *DTOM* -ww- NO Pity for the LAZY)
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