StillIRise1963,
@StillIRise1963@mastodon.world avatar

“ 'According to some estimates, 40% of money laundering around the world – this is money often stolen from Africa and Africans by corrupt businessmen, bent politicians and war lords and so on – 40% of that money comes through London and overseas territories and crown dependencies.’ ”

https://www.theguardian.com/world/article/2024/may/14/nearly-40-of-dirty-money-is-laundered-in-london-and-uk-crown-dependenies

samhainnight,
@samhainnight@mstdn.social avatar

@StillIRise1963 Lloyd's of London used to insure slave traders against loss, so this tracks.

AnguaDelphine,
@AnguaDelphine@mk.absturztau.be avatar

@StillIRise1963

Without the Laundering racket, the BOTs / CDs and The City Of London would go out of business.

My only surprise is it is only 40 percent; I thought it was 60+.

The only change brought by laws regarding money laundering has been to make it harder for Brits to get and keep bank accounts.

thepoliticalcat,
@thepoliticalcat@mastodon.social avatar

deleted_by_author

Wen,
@Wen@mastodon.scot avatar

@thepoliticalcat @StillIRise1963 You just need to look at Haiti to see a living (almost) decaying society to appreciate the damage that has and continues to be cone.

Danetteb,
@Danetteb@mstdn.social avatar

@StillIRise1963 good thing Brits aren’t racist /sarcasm

Wen,
@Wen@mastodon.scot avatar

@Danetteb @StillIRise1963 ‘We' aren’t. We’ll take money from anyone, race blind and are an equal thievery opportunity zone.

BashStKid,
@BashStKid@mastodon.online avatar

@StillIRise1963 London has spent a long time perfecting being a corrupt arranger and fixer for dirty money that needs cleaning.

chriswho,
@chriswho@mstdn.social avatar

@StillIRise1963 It's the only way in which my ancestral White European settlers excelled - the ability through force of arms to steal, murder, and brutalize other countries and their people.

How long, oh Lord, how long?

Wen,
@Wen@mastodon.scot avatar

@StillIRise1963 @Captain_Jack_Sparrow The City of London has never seen a pile of cash that can not be laundered and is unattractive enough to be shunned.

saxicola,
@saxicola@toot.community avatar

@StillIRise1963
It all counts toward the GDP though so that makes it ok. /s

JugglingWithEggs,
@JugglingWithEggs@mstdn.social avatar

@saxicola @StillIRise1963

This is the really sickening thing…The economy of the UK is largely driven by the wealth of London. The wealth of London is dependent on The City. The City of London square mile of financial institutions is a tax haven (strongly recommend Nicholas Shaxton’s Treasure Islands on this subject). So yes, the modern economy of the UK is dependent on tax avoidance…which is the reason the likes of Jacob Rees Mogg pushed for Brexit.

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