Social security does not send checks to private homes, so if you collect social security, you must have a bank account where they send your funds. Part of the process of globalization is the consolidation of monies. An amazing thing has taken place in Europe. Not too far in the past, nationalism would have prevented such a move. This union will soon continue beyond the finances and will reach into the politics.
Some people dream of a United Europe.
Now in America, talk is strong about having one currency that would include all the countries from Canada in the north to Argentina at the southern end of South America. Impossible, some would say. That was said of Europe. Strong forces are now at work to bring it about. At the same time, there is talk of the need for one currency in Asia, which would include countries such as Japan, Korea, Malasia, Singapore, Taiwan, Thailand, Vietnam and the Philippines.