Thursday 16 December 2021

Offshore

One of the more insidious but ingenious moves of modern finance has been to transfer the domicile of capital pools of ownership into jurisdictions outside the direct control of meaningful governments (the governments of the Cayman Islands, British Virgin Islands or Guam) and to have neutered the only government with extra-territorial reach by jamming its legislative process to such an extent it will never have the political will to go after the capital pools which are concurrently destroying the fabric of the nation which spawned most of them.  

I don't include the countries which are sensible enough to avoid this insane structure in the list of countries subject to this effect; most African and Asian countries do not permit their nationals to transfer their nations wealth outside of their jurisdictions through capital controls and Russia and China exist in permanent conflict with their elites, preventing them from fleeing offshore and when they do, punishing them; but certainly in the Anglo-sphere, this problem is rife.











Instead of addressing the gradual leakage of capital from the grasp of the government, the federal government of the world's biggest democracy is instead set out on adventures to conquer new frontiers in order to feed the insatiable beasts which battle within and outside it for new markets.










What a bizarre outcome that the worlds most powerful country would knowingly allow itself to be destroyed thus by the promise of a few extra percentage points of returns for the investment portfolios of the rich and powerful.

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