Money laundering and tax havens are two wildly misunderstood and under-discussed phenomena in today’s world. As Nicholas Shaxson, the British author of Treasure Islands, says in the second Democracy Now interview posted below, most people see them as “an exotic side show to the global economy”, whereas in reality they are now right at its beating heart, boasting anywhere between 10 and 20 trillion dollars in tax-free or low-tax deposits.
In the first interview, John le Carré, the foremost spywriter of our times, discusses the endemic practice of money laundering among some of the world’s biggest banks (the juicy part begins about nine minutes in), and the vital role that laundered drug money played in propping up the global financial system during the post-Lehman period.
John Le Carré on money laundering and the big banks
Nicholas Shaxson on the role of offshore tax havens in the global economy
Nicholas Shaxson (part II)
To watch more news and interviews from Democracy Now click here.