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Dave Beans

The London Property Market Built On Laundered Money

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I doubt they care that much whether the asset rises or falls in value, so long as the money is well laundered

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Oh, just one other money laundering channel to consider. Football clubs. All those agent fees floating around between international borders.

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Great excuse just to seize the assets of foreign owners.

They were talking about this on Talk Sport this morning, then went onto say how the flats were lying empty, how london was expensive and someone had opened a pop up shop selling Porridge for £6 a bowl !!!!!!

This "boom" seems too good to be true somehow.

Yet another reason not to buy into it, if someone is buying houses using laundered money and willing to loose, say. 50p in the £1 just to clean their money then the whole london mega bubble is going to destroy young british peoples finances for their entire life.

I think this sort of anti-house price propaganda is a sign the government is slowly letting the cat out the back and is setting people up for some very very bad news.

Caveat Emptor.

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I've wondered recently if there isn't a bit of money laundering going on with certain houses in Northants. There seem to be a few that sold in the second half of last year and are back on the market within a few months of completing, some with asking prices little higher than what they bought for.

They can't all have discovered they have such terrible neighbours surely??

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Sucking money in is a key element of the country's economic engine.

How else do you fund record trade deficits?

And eye-watering current account deficits.

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I've wondered recently if there isn't a bit of money laundering going on with certain houses in Northants. There seem to be a few that sold in the second half of last year and are back on the market within a few months of completing, some with asking prices little higher than what they bought for.

They can't all have discovered they have such terrible neighbours surely??

BRV, i've had all sort of thoughts about what was going on in the local market last year. I know people who sold their house without anyone viewing it. It was a real sale, as they have moved.

They were told BTL/Investor.

It is either:

  • genuine (loony)
  • foreign investor ( foreign loony)
  • Londoners ( lucky loony )
  • Bank shell companies buying up property using QE ( potentiall ciminal activity ).
  • A Pre-election Government shell companies buying up property using QE ( potentiall treasonable activity ).
  • money laundering. ( good old ciminal activity ).

Sometimes I think I am going insane for even thinking like that but something is not right.

I've already heard tell of similar things happening this year already.

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I've heard anecdotes about quick sales to btlrs. Wouldnt be surprised with recent positive market sentiment.

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UK establishment: Rotten to the core.

Prince Andrew's dealings with the allegedly corrupt regime in Kazakhstan are already causing him awkward publicity.
One exiled businessman seeking asylum in Britain is alleging in a high court battle that laundered money was used to buy the prince's former house at Sunninghill Park in 2007, for £3m over the asking price.
The 12-bedroom mansion, provided by the Queen for Andrew and Sarah Ferguson after their marriage in 1986, was bought through apparently concealed links to a series of offshore companies.
It was purchased by a wealthy figure in the Kazakh regime, Timur Kulibayev, for £15m after five years on the market. In September, a spokesman for Kulibayev denied the use of "corrupt" funds and said the allegations against him were "politically motivated".

http://www.theguardian.com/uk/2010/nov/29/prince-andrew-kazakh-billionaire

Here's what it looks like today:

1412694509394_wps_25_INS_News_Agency_Ltd

http://www.dailymail.co.uk/news/article-2783783/It-Queen-s-gift-Prince-Andrew-married-Sarah-Ferguson-seven-years-sold-15million-left-rot-decay.html

And there's more:

The Duke of York used a complicated tax avoidance scheme to save up to £6 million in tax on the profit he made on sale of his home to a Kazahk billionaire for £15 million, it can be revealed.

http://www.telegraph.co.uk/news/uknews/theroyalfamily/8378172/Did-Prince-Andrew-avoid-a-6-million-tax-bill-when-he-sold-Sunninghill-to-his-Kazakh-friends.html

Edited by Eddie_George

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Why don't all these upper level foreign civil servants just set up green 'charities' like the wise and good in this country?

Far easier than good old fashioned stealing, and provides a long term cash flow.

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BRV, i've had all sort of thoughts about what was going on in the local market last year. I know people who sold their house without anyone viewing it. It was a real sale, as they have moved.

They were told BTL/Investor.

It is either:

  • genuine (loony)
  • foreign investor ( foreign loony)
  • Londoners ( lucky loony )
  • Bank shell companies buying up property using QE ( potentiall ciminal activity ).
  • A Pre-election Government shell companies buying up property using QE ( potentiall treasonable activity ).
  • money laundering. ( good old ciminal activity ).

Sometimes I think I am going insane for even thinking like that but something is not right.

I've already heard tell of similar things happening this year already.

Not insane at all. All sorts of large investment companies are looking to buy up property by the yard along the Regis/Blackstone Invitation Homes model. The more one can control property supply in any given area through (debt fuelled) corporate ownership, the more that rental yields and capital appreciation of the portfolio can be maximised. Such corporates buy based on algo-driven criteria using a macro business model rather than any actual old-fashioned visiting of the properties in question. I suspect that's because the goal here is not actual rental yields but the financialisation of such. The world is (re)turning to a rather grim place. Find it best not to think about it all too much.

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Not insane at all. All sorts of large investment companies are looking to buy up property by the yard along the Regis/Blackstone Invitation Homes model. The more one can control property supply in any given area through (debt fuelled) corporate ownership, the more that rental yields and capital appreciation of the portfolio can be maximised. Such corporates buy based on algo-driven criteria using a macro business model rather than any actual old-fashioned visiting of the properties in question. I suspect that's because the goal here is not actual rental yields but the financialisation of such. The world is (re)turning to a rather grim place. Find it best not to think about it all too much.

The end result will be the same, collapse in prices at best, war at worst

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