Why oligarchs choose London for their dirty money 

Lol, why would anyone invest in pakistan? It lives on imf, saudi, us and Chinese money

The same for India

The Invisible Hand...

The British government is very discriminatory in its own favour. For over 20 years now Russian oligarchs he e been embraced with their laundered money 💴 and the British government was quite happy with that. British government used those big coffers of launders money together with Russian oligarchs and everybody were ok with that.

Imran khan is guilty for your oligarchs

Because they don't need to hide

Nicely put, if UK really cared or had some decency they wouldn’t allow money laundering in the first place.

Canada is the same, it's called snow washing.

Then pretend to be noble 😆

...and weapons sales...

Hasn’t that always been the situation? Hasn’t the British class system always protected the wealthy?

Why do you keep calling it "money laundering"? It's legally held money. Approved by President Putin, who makes the laws.

@@Hartley_Hare If not "legally", they would be within the Russian prison system, surely? What is so unclear about that? Do the Russian legal authorities and tax authorities not know about the existence of these huge yachts and luxury mansions in London? Indeed they do and they take no action, because no law or regulation whatsoever has been broken. So no "money-laundering" is involved.

@@Hartley_Hare Not sure what you mean by that, but usually the judges of whether law is "fallible" or not are the law-courts. The Russian law-courts have not convicted any of the Russians recently sanctioned by the west, certainly not for theft of public funds nor for illegal export of funds, nor for acquisition of foreign assets. So zero money-laundering.

@@Hartley_Hare You are a bit vague, law is not vague. Either something is legal or illegal. Your moral opinions are of no consequence to the law. You may not approve of Russian, Chinese or Ethiopian laws or legal systems, that does not affect anything.

This has been going on long before, decades before Brexit so this has nothing to do with Brexit at all.

it's been happening since the soviet union...

You really don’t understand central banking

Hi, I wanna ask, shell company stands for means? Tysm

It doesn’t surprise me so much. I’ve come to expect this now. I try to remember two facts. Governments always act in their own interest and governments are willing to do anything provided they think they can get away with it.

Do you have alternative solutions mate? You should be grateful the foreigners are willing to take hustle since your Government got great talent of printing money!! Try to demand more from your lazy Corrupt Parrygate Gov!!

Everybody and their momma knows London is the Laundromat of the world , nobody cared until today cause of the war.

also for these horrendous oligarchs from SAUDI ARABIA, UAE, QATAR etc...

Plus Nigeria

@@ikennahenry4003 Every corrupt uses big cites to launder , not Only London is involved.

and Pakistan. We all know how Nawaz Sharif owns one of the most expensive properties in London, and is currently hiding there.

Johnson, yes a nauseating creature... We here in Australia have been doing our best to stomach a corrupt coalition corporate federal government for nearly a decade... Hopefully after May 21, the present incumbents will be evicted from government and will be held accountable for their attempting to turn Australia into a "banana" republican/Trump wannabe Morrison cesspool...

And you forgot the white and non-white refugees?

Or "the city of London" financial system?

completely wrong. It is about the political-economy of the system. Politicians act within it. It is inherent in the system that is driven by maximisation of profit, competition and capital accumulation. Like students, especially graduates from elite universities, they strive to fit in the system and manage it. Thus perpetuating plunder, corruption and even excuses of crimes and wars. And when you vote every 4 years you think you exercise power over them.

Time to kick the elite sucker oners out of political power. Get our banking laws back with Progressives. Off shore has to end. It is destroying the world.

It’s also one of the drivers of Britain’s economy so whoever crashes the cart will get voted out.

@@thebigpicture2032 especially with the decline of British industry from the late 20th century onwards

Essentially, these oligarchs are illegal immigrants. Therefore, why can they not be deported to some central African republic on a one-way ticket? Of course, oligarchs have talking money, but surely that won't influence tories will it? What's sauce for the goose is sauce for the gander. Russian and other foreign oligarchs are far more obnoxious than asylum-seekers, so what about it, Boris? Grow a pair and take a stance!

But one hast to dig in the Economist archive and look at how often the magazine condemned the City of London harbouring of not only Russian oligarchs but also mafia syndicates since mid 1990s.

That's why the rich will never permit a land value tax: they know they would not be able to avoid it.

“The system has, and will be, there for the super rich…” That implies nihilism and the futility of the human agency to change things. Defeatism, I would say. It also ignores instances in human history, ancient and modern, where the gap between rich and poor was/has been significantly narrowed, which indicates that change is possible.

@@nadm.191 Yes, well, history also shows that the privileged prefer to perish in blood and flame, and watch their children slaughtered before their eyes, rather than relinquish even the smallest fraction of their unjust advantages.

That is a fantastic book....

Lugano too

New York, Seattle, Toronto lots of major cities.

or monte carlo, liechtenstein, luxembourg even the netherlands…

@Turtle Spirit 142 even South Dakota

@@souvikrc4499nobody comes to South Dakota 😂

They knew but preferred to reap the benefits

It is not different from the hypocrisy and the blatant racism we have seen in the treatment of white vs. non-white refugees.

@@nadm.191 One thing that would be helpful with immigration policy is clearly discriminating between the skilled labor that we want versus keeping out the unskilled labor that we don’t want. Without regard to race, gender, etc.

Your most famous football team was and still is I think, owned by an oligarch.People that support that team have been paying money to a Russian oligarch. Some of them who fled were guilty and some were not. You have to do a case by case.

@Ted I think you are missing the bigger picture. Professional football is an industry and business. Owned by an oligarchs or not does not change its nature. Remember how suddenly during pandemic nurses and other frontline workers were ‘discovered’? Do you know that, according to the BBC calculator, what a nurse earns in a week, Ronaldo warns in 16 minutes? What has made a footballer more socially valuable than a nurse or a similar occupation? Yet most people accept it, cheers the footballers and once in a century they are asked to clap for the nurses! Then one needs to contextualise the time oligarchs or Middle Eastern tycoons were allowed to buy clubs, estates, etc. It was the collapse of the Soviet Union and the role the Western regimes and the International Financial Institutions played in changing the social property relations in Russia and other countries of the former USSR. The oligarchs were born through a process of plunder of public goods and public assets. That was an era hailed as the end of history and the triumph of the ‘free market’. The former head of the World Bank and now a Keynesian, Jospeh Stieglitz, stated in his Globalisation and Its Discontent that the devastation cause by Yeltsin’s regime and international, especially Western, players to Russian amounted to the scale of devastation during the Nazis invasion. That context also spawned Putin and the reinvigoration of Russian nationalism. That is how things are so interconnected.

This is true. Notably, the Chinese and Middle Eastern ultranationalists deploy capital to the latest real estate developments in the world’s most regarded regions (e.g. S.F. NY and MIA)

Famous British greed...

Well, if you are a real estate agent you just sell the house ,that's it.

Well it's upto city planners... Whether they want to accommodate rich taxpayers or working class people... This problem is in every major world cities.. Just London is epitome of all

Not greed. Driven not by opportunity.

@Vintage Bollinger no. That’s called cronie capitalism that only serves the interests of a tiny minority.

If the properties are lived in by real people, they become lived in, damaged and 'lise value' Ask the Lawyers...

@@julietcrowson3503 Yeah , renters create only problems

It's Legal. It is not Disgusting.

@@rajarshisarkar999 it is only legal because the lawyers are corrupt and unethical, uncaring immature money grabbers Peace 🙏☯️☮️🫂✝️

jelous or what ?

Correct. 👍 Corporate corruption is running a "shell game" with the international financial system(s). 🙄

Isn't Washington, DC subjected to Federal Laws. I remember this being a issue that was brought up in talks about DC becoming a state, if I am not mistaken the same thing applies to Puerto Rico. The Vatican is also a country so it is only subject to Vatican law not Italian Law despite being smacked dab in the middle of Rome.

Corruption is in every Country

There is minimal corruption in the City of London, stop talking nonsense. Britain should be proud that the world trusts it so much with its money. Money is invested in the City because it is secure and profitable. The UK is politically stable and as corruption-free as can be found on this planet.

love how this comment manages to say absolutely nothing useful at all

it also could be: not enough highly trained people, not enough international data flow, not enough whistle blower - half of the money of the financial markets is "hidden in the dark". The volume of the financial markets is ten times the volume of the "Real Economy" in the world. IMHO

Vijay Malaya doing scam & looting Indian money, Meanwhile UK - You are so like us welcome to London 💸

The law should state that people should be able to provide records and proof that at least 40% of the money come from legal sources

British economy would fall hard if they stop the cash flow. Illegal money will flow elsewhere.

make buying properties from an offshore bank impossible .. why is it such a big deal.

That was exactly what I thought but the majority just want a paid job, living paycheck to paycheck. People should learn to start a business (don’t be scared even if you make a loss).

@@Dr.afolabiorekoya I agree

All the opposite of France where you need to conform with a lot of bureaucratic measures ! Well, the self-employed statute allowed to make easy business creation but it's not enough !

As someone from South Europe I can confirm

@Tk kirkland first of all - that’s not true. While most stores are chain stores it’s not true that local grocery stores don’t exist. Another thing is that you’ve interpreted it literally and what I meant there was just an example. That “local grocery store” is just a synonym for all local (tiny/small/medium) businesses and there’s a lot of those in the UK.

Is oligarch money legal or illegal? If it's illegal, they would be in Russian jails. So it's legal under the Russian legal system. Think.

@@charleswhite758 ALL oligarch money has been taken out of the country since the USSR folded. That money kept industries afloat and people in work.

@@petercolledge2236 "Taken out of the country" - is that illegal? I take money out of the country to buy a holiday home in Spain. That may be bad for the UK economy, but I acquired the money legally, in compliance with my nation's laws. If the money had not been legally acquired, I'd be in jail, not on hols in Spain. That's not money laundering. By the way, the real thief was the communist Soviet Union which stole all private property from its citizens.

@Vintage Bollinger Perhaps as a measure of GDP.

Guardian hypocrites in Islington have benefited the most. Liverpool a crime ridden dump that no one wants to live in. London getting they way under Kahn so no worries in a few years all the foreign money will leave anyway.

Because the British are held to higher standards than anyone else. They are seen as “gentlemen” and whenever they act like everyone else people are shocked and outraged. It’s extremely exhausting and I’ve given up trying to defend it

Because UK has more self righteous virtue signalers than most countries. Ironically most come from families that have benefited from what they complain about. Example leftwing journalists owning London rental property getting their initial money from parents who sold out to Russians etc.

because they play to be the gendarme of the world... and they fill their mouths with the words democracy freedom and they invade countries to crush corrupt dictators. psychopaths.

thast reminds me of Nicole Ann Sabin, i had an increased exposure on how to navigate the market while copying her trades. it rare to see a Financial advisor who is so transparent to the point of sharing her strategies. Unfortunately for her and fortunately for me. i can now trade independently. i don't pay any percentage to her anymore

@@Robertgriffinne wow, who's this advisor, how can i find her?

@@Natalieneptune469 I can't give much details to it, Profit comes for proper trade execution. I racked up in profits $558,405 from $185k capital in august last year to be exact on my portfolio using her trade signals. I watched a news interview on where she featured during an IPO and spoke proficiently, caught only her name and did a search later online. she's quite a genius in trading and portfolio diversification.

@@Robertgriffinne I usually don't take advises online but i curiously looked Ms NIcole up and scheduled a phone call with her. she seems proficient and well grounded

No because most retail investors lose money and the economist magazine couldn’t risk damaging their reputation by making the majority of people lose money.

Beatniks out to make it rich!

Storing wealth in currency is a terrible idea: it only leads to thesaurisation, which in turn creates economic crises when the supply of circulating cash contracts then booms.

If currency accumulated wealth on their own there'd be horrific downstream effects. Farmers couldn't get loans to plant crops, start up businesses couldn't get loans to create jobs and innovate, regular families couldn't get mortgages etc. Money would just accumulate value with no risk. The entire economic system of private enterprise is based on the idea of matching investors/lenders with borrowers. The problem is when you allow lenders/investors who get money outside the legal means to wash their money clean into legal investments, i.e. money laundering. Essentially that's what a lot of the major western city real estate markets have become for shady interests from authoritarian regimes.

Word salad. You don't have a clue what you're talking about.

Surely then there would be no incentive for investment?

@Vintage Bollinger for tax evasion and avoidance

Shouldn't you be free to register a company wherever you wish? Jersey is not part of the UK. They still pay tax on profits made within the UK. How that profit is calculated may have to be re-examined to prevent creative accounting.

@Vintage Bollinger Exactly, it is not the job of a company to donate money to the UK Treasury. Its job to make profits and to pay them to the investors as dividends, as large as possible please.

The British government is very discriminatory in its own favour. For over 20 years now Russian oligarchs he e been embraced with their laundered money 💴 and the British government was quite happy with that. British government used those big coffers of launders money together with Russian oligarchs and everybody were ok with that.

Sanctions not based on International laws & democratic will of ALL nations is economic terrorism!!

@@rka-truthalwayswins5127 “Sanctions not based on International laws & democratic will of ALL nations is economic terrorism!!” Because you say so? Putin had plenty of warnings before he invaded Ukraine.

Which is it? Taxed or illegal?

For half a year max

People should be free to do what they want with their property.

That would be a way to change things a bit.

Stop the lies can SA house the whole of Africans? The number of Africans living in SA is few compared to the white who took control of your country until apartheid ended.

Hh

Because the vast, vast majority of them originally grabbed or where given loads of USSR state assets after or during the collapse of the Soviet Union.

@@stuartburns8657 it’s the same with most ‘old money’ billionaires in Australia, the USA, the UK, NZ or Ireland

@@bsimulator No that's true, but often our elected representatives will find ways to enrich themselves either or. Just not as blatantly

@@bsimulator But the point stands, why rate the Western equivalents by numbers? Perhaps we can apply the same Greek (oligarchs, kelptocrats) because the Western thalassocracies have merely opened up opportunities by investing in and exporting violence more efficiently than our opponents.

@@bsimulator It's degrees of freedom. Gina Rinehart had no conniption requesting tax payer money for roads to be built to her privately held mines. Likewise, Bill Gates flew to Canberra and asked the Australian Government to match his commitment to promoting vaccines in Africa. You can take this how you want, but billionaires in the West are involved in and restrained by their respective and allied governments by all sorts of ways and means.

Brazil has the most corrupt government right now. Brazil even has its own Putin!

@@ftdecastrolondon although I dislike Bolsonaro, I am pretty sure that Brazil is far better than Russia. My ex girlfriend who was Russian and lives in Brazil find Brazil to be Swtizerland next to Russia

@@fnordinvitation It is not. Brazil has much more poverty and violence!

@@ftdecastrolondon So, my ex who is Russian and lives in Brazil is wrong and you are right? Yeah, sure... In her words: "it's incredible how Brazilians are fast to fix things that are broken in the street" "20% of the budget goes in kickbacks for the government and you think that this is too much corruption? In Russia 90% of the budget serves to pay kickbacks only and the remaining 10% is to fund the project". I am pretty sure she knows better than both of us what happens in Russia.

@@fnordinvitation Switzerland is based on loot from the rest of the world!! So it's NOT really a badge of honor!! And one ex girlfriend of yours anyways can't decide what's what!! It maybe her opinion but that's it!! Period!!

Last time I looked London was in England, Britain. Everyone has been talking about it.

I guess he is talking about the local British oligarchs…

They are "selling" that the corrupted money is from overseas and that Russian money is corrupted. They love Russian money and from overseas, they live from

To be honest, it often is.

extradition in your dream 🤡

@@dwaynejohnson8606 so u side with criminals

😂😂😂

In my opinion, there is significant difference between oligarchs and businessmen. The first is in fact a robber, who uses his position in the state, especially in the failed state for personal enrichment, while the second becomes rich step by step and his income invests in industry, art or any other branch of economic or social life. Russia, as well as most of the post soviet states are corrupted and present typical oligarchic state.

Oligarchs gained their wealth from privatisation auctions of state owned enterprises

No

Unfortunately we seem to have a lot more rich, greedy bA$Turds today! I admire your ability to have a"zen" perspective on this!

But they do, traditionally

Impossible.

Yup, the feudal system is alive and kicking

The queen can seized all the land by using Royal prerogative and sell it to the poor people for low prices

@Vintage Bollinger Billionaires do profit from property in places likes Wolverhampton and Rotherham as they'll have a stake in the property development firms. They won't so any of this, they have wealth management companies doing it for them.

Maybe you'd like to go back to a system wherein we acquire our daily necessities by trading goats?

@@daniel.lopresti just like you'll do, right?

A laundromat is a place where you would clean clothes.a kind of shop that had coin operated washers and dryers if you did not own your own. A lot were quickly snapped up by crooks as you could say I’ve had a thousand customers where you may only have had 50. By declaring and paying tax it became legal.

@@tonib5899 Really thanks a million for your helpful comments!

@@________4303 You’re welcome. We actually called them launderettes, I think the addition of mat instead of the old ending “rette” is a Russification.

@@tonib5899 I'm not living in UK, not familiar with British culture, so it's really great to meet a friendly British RU-vid user to help clear up my confusion!

@@________4303 You are more than welcome, curiosity and politeness is admirable.