In giving very careful thought to Panama as a long dreamed of retirement destination, there are a couple of questions which I have not seen addressed on any of the expat blogs. I would greatly appreciate the thoughts and insights of any who may wish to comment on either question with many thanks to all in advance...
1) With the Panamanian currencies both linked tightly to the U.S. dollar, what might be expected were the U.S. dollar and resulting banking system to partially or totally collapse??? There has been increasing talk of this very scenario, and to those who have followed such matters none of it is good by any means.
2) With more specific attention given to American expats, what kind of chaos or repurcussions might be anticipated when SSi or related savings could no longer be accessed leaving one without the means to pay rent, buy necessities, or travel from one location to another in a country where they remain an "outsider"???
Highly unpleasant thoughts admittedly, but it would seem well worth giving serious consideration to... Thanks once again to everyone and I look forward to any responses.
Bob
[email protected]
1) With the Panamanian currencies both linked tightly to the U.S. dollar, what might be expected were the U.S. dollar and resulting banking system to partially or totally collapse??? There has been increasing talk of this very scenario, and to those who have followed such matters none of it is good by any means.
2) With more specific attention given to American expats, what kind of chaos or repurcussions might be anticipated when SSi or related savings could no longer be accessed leaving one without the means to pay rent, buy necessities, or travel from one location to another in a country where they remain an "outsider"???
Highly unpleasant thoughts admittedly, but it would seem well worth giving serious consideration to... Thanks once again to everyone and I look forward to any responses.
Bob
[email protected]
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