Posted on 09/29/2019 9:49:36 AM PDT by aimhigh
It’s Mexico, what did they expect?? Mexico is a sh*thole country where crime and corruption is business as usual.
“Family values don’t stop at the Rio Grande”- Dubya
Or maybe stealing the life savings of gringos is one of those “Jobs Americans won’t do anymore”.
Who the hell would put ten cents let alone his life savings in a Mexican Bank!!!!
I have never been able to understand why Americans would want to live in such a corrupt country. Both my parents were legal immigrants and I’m a first generation American. My parents didn’t come to America so I could have a good life and then move on to another country, especially one as corrupt and dangerous as Mexico
Live life dangerously and on the edge: Retire to Mexico.
My Travel Brochure;
.
“Hookers and Cocaine,
What could
Go Wrong?”
Why in the world would these people need to keep any cash in a Mexican Bank?
I have my brokerage, IRA and other personal accounts at an American Investment Brokerage, a very large one. I use on line bill pay exclusively and I have a debit card which .allows me to withdraw as much as $2000 per day if I want. I can use the debit card anywhere in the world and any bank fees are reimbursed.
Again, WHY did these people have so much money in a Mexican Bank, and what could possibly be the reason to give an employee of the bank authority to sign on their behalf?
I’m immune to being called a racist - a ridiculously overused word.
I have issued limited power of atty’s but always very narrow in scope and never concerning cash.
invest in Mexico? Always a good idea. (Not.)
Never assume your bank is sound without checking the numbers.
Never put all your money into a bank - transfer it monthly from another stable bank.
“they have a ton of thieves in their culture”
Their culture is BUILT on theft.
The thief is considered a strong man - if you can’t stop him, you’re a gusano and you deserve what happened.
It’s the basis for their entire government. La Mordida is how it works, and it’s nothing BUT organized theft.
My understanding is that foreign nationals cannot own property in Mexico. The best you can do, IIRC, is lease land through a designated intermediary or landowner and be permitted to build on it. So you build the house you rent and nothing in it is really yours. There are ways around it through marriage and/or citizenship, but that sounds like a long, complex, and expensive process that could still be turned against you.
No, thanks!
Mordida,,,
Also
Plata or Plomo.
Life savings/Mexican bank... Darwin Award candidates””
Reminded me of a mex painting contractor who worked for the builder of my new house back in the mid ‘90s.
The guy took $300,000 and moved it to a mex bank. The Peso crisis hit and devaluation left him with $150,000.
“More and more banks are demanding a U.S. postal address. Investment houses (Merrill-Lynch et al.) are unilaterally cancelling the accounts of Americans living abroad.”
And vice versa. My wife has some inherited money in Denmark. One of the 2 banks she used dropped her completely because...filthy onerous demands by IRS. The remaining bank is still accommodating her but requires new documentation every year. The IRS and tax code are a national disgrace. If I were a foreign bank I’d tell IRS to shove it.
I keep reading about “expats” who retire to quaint 3rd world countries nearer to — or straddling — the equator.
They always cite the “mild” climate.
Huh.
I’ve never travelled much. The one time I ventured 100 miles into Mexico, I spent 3 days either indoors or in the shade under the hotel’s roof overhang, coming out only after dark.
The heat was hellish (and I grew up in the deep south of US, so I’m normally unfazed by 98 degrees + 95 % humidity)
Mexico even in the north was far, far hotter. Miserably oven-hot, making it difficult to breathe.
My flesh was cooked lobster red & blistered —2nd degree burns— from the sun’s REFLECTION off the water.
This, coupled with a vicious case of Montezuma’s revenge, after taking ONE SIP of what was supposed to be orange juice (it was Tang, mixed with nasty Mexican water) and I’ll never, ever go south of the US border again.
A friend of mine and his wife would spend Jan and Feb in San Miguel.
I would look after their house while they were gone.
They loved it there, but stopped going about 4 years ago because of Americans being kidnapped and held for ransom.
They go to Italy now, and avoid Sicily because of the Muslim invasion of Sicily. - Tom
Color me shocked!!
I didn’t say it had to be an American bank—just not Mexican.
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