Mexican Jews occupy a precarious position as "privileged temporary guests" - neither indigenous citizens nor fully accepted members of society. Despite economic success among Jewish entrepreneurs and professionals, Mexico's nationalist ideology and Third World alignment foster significant hostility toward perceived foreign elements. Through ethnographic fieldwork, interviews with community members, and analysis of historical documents, media, and government policies, this research reveals the complex challenges facing Mexico's 40,000-strong Jewish population. The community's history stretches from colonial-era Marranos through the devastating Mexican Inquisition to contemporary immigration patterns, yet modern Jews remain largely isolated, excluded from political participation and landholding. Antisemitic propaganda flourishes, particularly from Arab organizations in Mexico City, alongside the circulation of texts like "The Protocols of the Elders of Zion." With 75% of Jewish youth educated in separate schools, declining birth rates, and minimal immigration, the community's long-term viability appears increasingly uncertain. These findings underscore broader arguments about the necessity of Jewish life in Israel while illuminating the tenuous position of minority communities within nationalist contexts.