“In a developed economy, Ponzi lending of such an enormous scale would lead to widespread bankruptcies, unemployment and massive losses for investors and lenders.”
Mixed feelings on this quote. You mean like the Ponzi lending in the United States? And how that would lead to bankruptcies, unemployment, and losses here? And yet, we have Ponzi lending, and it HAS led to those outcomes. Which are bad for China, apparently, but okay for us. They’ll crash but we won’t crash, because we’ve already crashed into a crash we won’t admit has crashed.
And Britain exists to be a money-center for the ultra-rich and their companies, which is to say, they are in the very business of off-shoring secret accounts, corporations, and mostly dirty money. City-of-London now IS the GDP of Britain, thanks to complete demolishing of industry; if it dies, England dies a cold, hard death. So finding dirty money there is like going to an ice cream stand and being surprised they have gelato. They are shocked, shocked there is gambling going on in this casino. Please. What they really don’t want is bad press and competition.
Sorry, the comment form is closed at this time.