Trump Effect – Mexico’s Central Bank Chief Resigns… | The Last Refuge
"Media reports of Agustin Carstens resignation as chief of Mexico’s central bank have left MSM pundits and even business analysts scratching their heads.
It appears no-one has any idea why Carstens is leaving… well, almost no-one.
The non-discussed story is the hidden story that has been visible yet kept quiet for over five years. n essence, what Carstens knows, and what only Carstens knows, is the scope and scale of Mexico’s economic (central finance bank) dependency on the outflow of dollars, hidden U.S. money.
Early this year, it was discussed –for the first time– that effective in 2015 Mexican Remittances exceeded the scale and scope of Mexico’s entire oil and energy export sector.
The single-year guesstimate was approximately $25 billion.
Remittances sent home by Mexicans working outside the country surpassed petroleum revenues in 2015 for the first time.
However, that guesstimate only measures wire transfers (individual to individual – Western Union money services).
That measure doesn’t include bank to bank transfers, nor does it account for direct transfers of capital via cash, personal check, money order or banker cheque. In essence, the estimation is severely understated.
An honest evaluation of all possible currency transfer streams puts the outflow well over $100 billion, well over.
...But wait, it doesn’t simply stop there.
In addition to the direct import of dollars propping up the activity around the central bank, the use of fraudulent U.S. tax returns by Mexican Nationals is jaw dropping.
...“There is not a doubt in my mind there’s huge fraud taking place here,” he said, slowly flipping through the pages of a tax return.
...“We’re talking about a multi-billion dollar fraud scheme here that’s taking place and no one is talking about it,” he said.
The scheme involves illegal immigrants — illegal immigrants who are filing tax returns. (read much more)
Add it all up,… then add in the fact that 80% of all Mexican exports are destined to the United States… then sit back and attempt to quantify the scale and scope of the Mexican dependence on U.S. dollars exported…. then consider this construct evaporating with a new Trump administration and accompanying policies…. and you’ll quickly find out why the guy charged with administering the Mexican monetary system is bailing out STAT..."