I often wonder if renouncing citizenship and moving abroad would make financial sense
I don't know but many do if they have foreign real-estate deals as the IRS will come after you given a sniff. It happened to Boris Johnson when he was mayor of London and sold his house.
Living in places like Panama & Colombia, especially if you have a good tax lawyer mean little to no liability for many. You have to be willing to move around though.
Not so much. However there must be some reason?

(one was good). Mostly done to annoy Tom B of course who also never posts about trading. He is the reason I posted a couple in fact.