Tuesday, July 15, 2014

London’s property inflation tap shut off

China's "Secret Money Laundering" Story Goes Mainstream; Is Promptly Censored

The biggest offshore buyer of luxury London property, that would be Chinese money laundering oligarchs and other member of the upper class, may be locked out of any future London housing purchases for a long, long time. The reason: an unexpected revelation by the power state CCTV channel revealed that contrary to popular disinformation, some of the largest Chinese banks - the PBOC included - were not only permitting but actively encouraging Chinese "money laundering" far above the $50,000/year statutory limit, the immediate result of which was soaring prices of the luxury segment of the London housing market.

Posted by khards @ 09:59 AM (2150 views)
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One thought on “London’s property inflation tap shut off

  • I’ve submitted a freedom of information request for a copy of the Treasury’s Anti Money Laundering policy regarding ATED (Additional Tax on Enveloped Dwellings aka mansion tax lite). No reply yet but hopefully they’ll admit that anonymous land speculators are not subject to AML and I can try find an MP who will ask awkward questions. Not holding my breath though. The NAR (National Association of Realtors) in the US actually got a formal exemption from AML by paying for the election of a few Congressmen and women…

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