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macca13

Tonight 8:30 panorama London property dirty money

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Panorama in about 30 seconds of investigation have found properties in London linked to money laundering.. strange how the government seem unable to find them? They have looked behind the curtain, in the cupboard under the stairs, but can’t find money laundering anywhere.. 😂

it always amazes me how investigative journalists can find things so easily that government choose to ignore or too incompetent to find.. 

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It's best not to probe this particular golden nugget, as it could well be a turd covered in glitter. This can be awkward in a world told to expect 24 carrots.  We need only gaze with wonderment at the brilliance, all else is fake news.

Besides who would volunteer to get their fingers all smelly?

Edited by Lord D'arcy Pew

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3 hours ago, macca13 said:

Panorama in about 30 seconds of investigation have found properties in London linked to money laundering.. strange how the government seem unable to find them? They have looked behind the curtain, in the cupboard under the stairs, but can’t find money laundering anywhere.. 😂

it always amazes me how investigative journalists can find things so easily that government choose to ignore or too incompetent to find.. 

Looks interesting, thanks.

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And just like dodgy self cert in the early 2000's where everyone knew the fraud was taking place, dirty money from abroad and where everyone with an IQ bigger than shoe size knows it is going on, it will simply be over looked and ignored. No crime is big enough to get in the way of the God that is now ever rising house prices.

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2 minutes ago, inbruges said:

And just like dodgy self cert in the early 2000's where everyone knew the fraud was taking place, dirty money from abroad and where everyone with an IQ bigger than shoe size knows it is going on, it will simply be over looked and ignored. No crime is big enough to get in the way of the God that is now ever rising house prices.

Well yes in the USA and the UK you have a political class (of all hues) who all still believe in the 'trickle down' bunk/lies of neoliberalism...hence the wealthy are to be applauded irrespective of their personal qualities or their source of wealth - they are the munificent, they will provide and we definitely mustn't tax them or they'll leave and then where would we be?

40 years of rigid - fundamentalist - belief in neoliberal dogma isn't going to be changed overnight; vote Tory and you'll just see double-down on it post-Brexit. Then unsustainable wealth disparity. Then major social problems.

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everyone knows this. and have known for decades. why would anyone make a program to shoot the goose that lays the golden eggs? 

do swiss TV programmes make investigations into dodgy banking, trading and precious metals flowing into switzerland? Do the saudis have TV programmes talking about the dangers of NoX emmissions? Does Fox TV talk about the US Military mass murdering third world people? 

No, you don't shit where you eat!

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Britain is the worlds biggest tax haven. When a country doesnt produce its own wealth, the only alternative is to attract it from elsewhere- in which case it cannot afford to ask too many questions about where the money comes from. 

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This issue highlights how devoid of integrity our leaders are but is the sale of £10m houses in london to Russian gangsters really having impact on the price of 3 beds in Hampshire..? 

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Russians buying mansions in london has no direct impact on inflated house prices elsewhere. However, they are both symptoms of an economy that is kept going with dirty money or debt money. 

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21 minutes ago, Wayward said:

This issue highlights how devoid of integrity our leaders are but is the sale of £10m houses in london to Russian gangsters really having impact on the price of 3 beds in Hampshire..? 

Yes it does impact.  Because I heard it described as a 'wall of money' spreading out from London.  Your talking in the billions.  Those people who the Russians bought property off have to move somewhere.  And the people they buy off have in turn to move somewhere.   And you talk of Russians.   It's not only them but the obscenely wealthy from all over the world.  Most of which probably come from nations where most people live in abject poverty.

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57 minutes ago, Wayward said:

This issue highlights how devoid of integrity our leaders are but is the sale of £10m houses in london to Russian gangsters really having impact on the price of 3 beds in Hampshire..? 

Yes, definitely huge impact. Take Danny Dorling's work (professor of Geography at Oxford; from Oxford originally). His work follows that Oxford (for example) has a problem because London has a problem. Oxford has some very expensive houses at the high end (£2-5 million). That money pours in from London. For some rich, London is not to their taste, they like academic and quaint Oxford, have children schooled there etc. Then every satellite town around Oxford has a problem, house prices in Bicester, Abingdon, Wheatley, Thame all inflated at this rate. This is occurring across the south east. And then there are people who commute Oxford to London as well. Every car you see commuting in the morning that is priced-out money lifting house prices like a rising flood around where jobs are. And then the BTLers are putting money in houses to ride the wave too, and then normal people are actually buying houses (people taking on monster mortageges in London, Oxford central etc.). A 2 bed flat in central Oxford wouldn't be £500,000 if houses in PCL weren't £10-15 million etc. The effect is massive.

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4 hours ago, hayder said:

why would anyone make a program to shoot the goose that lays the golden eggs? 

You wouldn't.  Unless the goose was already an ex-goose.  Ceased to be.  Expired and gone to meet it's maker.  A late goose.  Run down the curtain and joined the choir invisible.

 

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4 hours ago, nothernsoul said:

Russians buying mansions in london has no direct impact on inflated house prices elsewhere. However, they are both symptoms of an economy that is kept going with dirty money or debt money. 

It certainly does.  When the super rich price out the rich, the rich have to outbid the middle classes or do without. Pice rises ripple down through the market and outwards from London.

Those price rises encourage further house hoarders, creating a vicious circle.

What is more difficult is to quantify the impact, particulary all the second round, knock-on, effects. 

Edited by BuyToLeech

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9 hours ago, Mooping said:

Yes it does impact.  Because I heard it described as a 'wall of money' spreading out from London.  Your talking in the billions.  Those people who the Russians bought property off have to move somewhere.  And the people they buy off have in turn to move somewhere.   And you talk of Russians.   It's not only them but the obscenely wealthy from all over the world.  Most of which probably come from nations where most people live in abject poverty.

It's a wonder Putin is not unleashing barrels of nerve agent in London wiping out the scum that have taken £100's Billions out of the Russian economy, unless that is he is getting his cut

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1 minute ago, inbruges said:

It's a wonder Putin is not unleashing barrels of nerve agent in London wiping out the scum that have taken £100's Billions out of the Russian economy, unless that is he is getting his cut

I seem to remember that Vlad has at least one pad here and probably a few through companies/associates.

Vlad is restricting passports / external visits.  He is encouraging domestic holidays.  At least for the little people.

Both his rivals and current supporters have parked/laundered money here.  Often bought when in favour in Russia, then moving here when out of favour or under threat of being outmaneuvered by rivals at the court.

It does have an effect on normal people.  Lots of houses bought and empty.  Overpriced as it's insurance / laundering.  Next best houses bought by rich rather than super rich. Ripples out until renters in London buy BTL in Leeds as investments.

If houses were cheap enough, I'd consider moving to London for work, so would others.  Instead 'we' drive or train big distances knackering ourselves out and having a worse family life.  'We' in quotes as I tend to avoid the commute unless I need to but would earn more if I committed to it.

This therefore is another side effect, less talent, efficiency in London. Together with empty houses and squalid living for many crammed in.

Just land value tax the real owners on their global property (minus local land value taxes).   Anything where the true owners are hidden are seized and auctioned.

 

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18 hours ago, zilly said:

Well yes in the USA and the UK you have a political class (of all hues) who all still believe in the 'trickle down' bunk/lies of neoliberalism...hence the wealthy are to be applauded irrespective of their personal qualities or their source of wealth - they are the munificent, they will provide and we definitely mustn't tax them or they'll leave and then where would we be?

40 years of rigid - fundamentalist - belief in neoliberal dogma isn't going to be changed overnight; vote Tory and you'll just see double-down on it post-Brexit. Then unsustainable wealth disparity. Then major social problems.

On the nail Zilly.

A+++++++++++++.

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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