Yesterday I read an article in the Canard Enchainé the French satirical newspaper concerning the money transfers of immigrants back to their home countries. Worldwide immigrants in rich countries transfert more than $450 billion back to their country of origin which is a great help. The scandal (there is always a scandal!) is that the cost of the transfers is on average 7% of the funds. That means that immigrants which are usually not the richest people in our societies get "taxed" 32 billion $ just to be able to send some of their hard earned income home. That's equivalent to the total amount of Development Aid distributed by the United States. I'm surprised that nobody has developed an app yet which would allow the transfer of money from a phone to another for a nominal fee. I think I will add this to the list of projects I should develop as soon as I am made redundant from my present firm.
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