But the problem is that the boundaries of tax havens themselves can become very blurred. London is an international financial system that sees trillions of dollars from all over the world go through it each year, and that offers the most sought after financial services. This alone would be enough to make this city a desired anchorage for those looking to launder and reinvest unlawful funds. But there is more; besides this, the British capital is at the heart of the world's most important offshore system.
Roberto SavianoRelated topics
anchorage blur british capital city enough heart international launder london looking offshore problem seek system tax world year funds servicesRelated quotes
The Panama Papers opened yet another window on the global system of financial corruption, showing how political leaders and businesses use shell companies in secrecy havens like the British Virgin Islands and many US states to evade taxes and hide corruption and other crimes. Yet the system of corruption depends on another factor beyond secrecy, one that is perhaps even more important: impunity. Impunity means that the rich and powerful escape from punishment even when their malfeasance is in full view.
Jeffrey D. Sachs
The system in place in the countries of the historic imperialist triad (the United States, Western Europe, Japan) is based on the exercise of the absolute power of the national financial oligarchies concerned. They alone manage the whole of the national productive systems, having succeeded in reducing almost all small and medium-sized enterprises in agriculture, industry, and services to the status of subcontractors for the exclusive benefit of financial capital.
Samir Amin
By Mammonism is to be understood: on the one hand, the overwhelming international money-powers, the supragovernmental financial power enthroned above any right of self-determination of peoples, international big capital, the purely Gold International; on the other hand, a mindset that has taken hold of the broadest circle of peoples; the insatiable lust for gain, the purely worldly-oriented conception of life that has already led to a frightening decline of all moral concepts and can only lead to more.
Gottfried Feder
I hold that protection is not only bad economy, but that it is an agency at once immoral and oppressive, based as it is and must be on the exploitation of the community in the interest of favoured trades and financial groups. I hold it to be a corrupting system, because honesty and purity of administration must be driven to the wall if once the principle of taxes for revenue be departed from in favour of the other principle, which I conceive to be of the essence of protection-that, namely, of taxes for private beneficiaries.
Henry Campbell-Bannerman
The only reason they put me in jail is my involvement in politics, my criticism of the authorities. Later the excuse for my detention became my "tax problem.” But internally they never told me anything about it. I don't want to underestimate their intelligence, but up to this day I think what they did is very stupid. In fact, they even helped me in an ironic sense. They gave me a chance to explain what is happening with this system. They provided such a platform for me.
Ai Weiwei
