Most of the $33 Billion in Remittances to Mexico Flow Via U.S. Govt. Banking Program – IOTW Report

Most of the $33 Billion in Remittances to Mexico Flow Via U.S. Govt. Banking Program

Judicial Watch:

Though President Trump said he would block money transfers to Mexico to fund a much-needed border wall, Mexicans in the U.S. sent a record $33.48 billion in remittances last year and a big chunk of it flowed through a government program operated by the Federal Reserve. This means that, amid an onslaught of illegal immigration, the U.S. government is largely responsible for the billions in remittances flowing south of the border from illegal aliens. Figures released by Mexico’s central bank show that 104 million transactions were executed in 2018, nearly six million more than the previous year.

Uncle Sam facilitates the process with a program called “Directo a Mexico” (Direct to Mexico), launched by the Federal Reserve, the government agency that serves as the nation’s central bank, more than a decade ago. President George W. Bush came up with the idea following the 2001 U.S.-Mexico Partnership for Prosperity to provide low-cost banking services to illegal immigrants and facilitate the procedure for those sending money home. In its first year, 2005, remittances to Mexico topped $20 billion and the Federal Reserve reports “double-digit percentage growth for the past several years.” Remittances are transferred through the Federal Reserve’s own automated clearinghouse linked directly to Mexico’s central bank (Banco de Mexico). The Trump administration should eliminate it because it undermines our nation’s immigration laws and is a potential national security nightmare.  more here

12 Comments on Most of the $33 Billion in Remittances to Mexico Flow Via U.S. Govt. Banking Program

  1. Tax the the remittances to any Third World Shithole, and build the Great Wall of America. Make America Great Again with a tax on Mexicans and Central Americans. After it’s built, keep taxing the remittances to pay for all the social services and costs of keeping illegal aliens in Federal prisons.

    12
  2. Now, legal pipe,
    Want a hit?
    Just saying better than the phony MSM ‘opioid crisis” of today.
    Can you say Ollie North or just say no?
    Same shit, different decade,,,

    3

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