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Everything posted by Jingthing
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I know enough to know that different banks have different business models but I assume you're talking about loans. Loans would be a problem for expats, but I assume they could do credit cards, IRA accounts, and pretty much everything else U.S. banks do. They might even have pricing power for higher fees because of the special service they could offer expats.
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I have a personal experience with this kind of thing. i was involved in an internet startup that was dealing with selling a product where each U.S. state had complex different laws about so that nobody else had bothered to deal with it before because of that. But they had deep pockets and invested in tackling it. They still exist, decades later, and they are the market leader.
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This topic inspired by yet another issue with a U.S. financial institution caused by living abroad. In this case an account of about 1,000 dollars that has been frozen and requiring me to visit a branch in the U.S. to unlock. I have no plans to travel to the U.S. Without going in details of how this happened, how about this for an idea? Could a wealthy entrepreneur open a U.S. bank with all the standard services dedicated to serving expats, digital nomads, etc.? An account where U.S. nationals already living abroad could open new accounts with just a passport. An account where living abroad doesn't make you a suspect and no need to create a fake U.S. residence with U.S. address and cell phone number? A bank that could somehow finesse with clout and lobbying effort to still comply with "know your customer" laws even to the point of getting those laws changed to accommodate expats? Can't they "know" us through different means, like Zoom calls, voice prints, official evidence of our foreign address, etc.? Yes I know there are existing alternatives like State Department Federal Credit Union and that's great as far as it goes, but I'm talking about something even better and even more targeted at us. It shouldn't be so hard for Americans to live abroad and still manage U.S. finances when needed, and many of us need to. A pipe dream for sure but do you think there's a profitable market for this? I do as Americans moving abroad becomes much more popular for both working age people and retirees. I know I'm not the only expat who has experienced many nightmares over the years by being treated badly by U.S. financial institutions. Know any billionaires?
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Israel is at War - General discussion (pt3)
Jingthing replied to Social Media's topic in The War in Israel
Bait ignored. -
Israel is at War - General discussion (pt3)
Jingthing replied to Social Media's topic in The War in Israel
Already said. When the UN made the partition there were two states. One Jewish. One Arab. Not Palestinian. Arab. Before Jews were as "Palestinian" as Arabs. -
Israel is at War - General discussion (pt3)
Jingthing replied to Social Media's topic in The War in Israel
What's the problem? -
Israel is at War - General discussion (pt3)
Jingthing replied to Social Media's topic in The War in Israel
Written after Palestinian Arab identity became a thing. Duh. -
To die (with wealth) or not to die, that is the question.
Jingthing replied to sidjameson's topic in ASEAN NOW Community Pub
I suggest going with probabilities. Anything can happen. Black swans can happen. The Russia-Iran-NK- China axis could melt down the international banking system tomorrow. -
Israel is at War - General discussion (pt3)
Jingthing replied to Social Media's topic in The War in Israel
There you go again! Do not put words in my mouth. I have never said that I support everything Israeli governemts do. Why do Israel demonizers feel the need to try to make very complex things so simple minded? -
Israel is at War - General discussion (pt3)
Jingthing replied to Social Media's topic in The War in Israel
If there ever is a two state solution I would expect Israel would need to give up at least some it's illegal west bank settlements. That's going to be very hard to sell politically in Israel. -
Israel is at War - General discussion (pt3)
Jingthing replied to Social Media's topic in The War in Israel
This is true as Jews are an ETHNORELIGIOUS group, like the Kurds. -
Israel is at War - General discussion (pt3)
Jingthing replied to Social Media's topic in The War in Israel
It's not necessarily about you just because I responded to your post. I agree totally of course that civilian suffering especially children is horrible. -
To die (with wealth) or not to die, that is the question.
Jingthing replied to sidjameson's topic in ASEAN NOW Community Pub
If the magas take power, I don't expect any immediate impact on current SS recipients. But they would raise retirement age maybe even reduce benefits for younger people. IF SS isn't reformed, benefits will need to be cut about 25 percent even for current recipients in about 10 years. -
Israel is at War - General discussion (pt3)
Jingthing replied to Social Media's topic in The War in Israel
I can't read your mind. -
Israel is at War - General discussion (pt3)
Jingthing replied to Social Media's topic in The War in Israel
I agree it's a big mess and I'm not one to suggest that I have the solutions to fix it. -
Israel is at War - General discussion (pt3)
Jingthing replied to Social Media's topic in The War in Israel
The Arab world wasn't supporting Palestinians because Palestinian identity didn't exist back then. They were opposing the creation of a Jewish state in a small part of the land that was the British Mandate, no matter how tiny. Keep in the mind what the Grand Mufti of Jerusalem did. He exiled to Berlin and got a promise from Adolph Hitler to exterminate all the Jews in the Middle East after he was done with Jews in Europe. Painting the Arabs as innocents in this sitation is a total crock!