It’s Often About The Banks

By way of Naked Capitalism, I came across this long, but excellent, movie about how the UK has morphed from having a physical empire to having a financial one, one revolving around former colonial territories which now serve as tax havens. While it focuses on the UK, as the UK has the hidden money, it’s worth noting that the U.S. also features a prominent role in the film (and the U.S. is the second largest tax haven).

What makes this really good is that it does a very good job of tying in how this tax avoidance fuels corruption and the breakdown (or evisceration) of the rule of law. It’s long, but worth a watch.

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