Foreign real estate is a favorite vehicle.
You probably know that Al Capone was prosecuted on tax evasion, but did you know the details?
Al Capone had a problem: he needed a way to disguise the enormous amounts of cash generated by his criminal empire as legitimate income. His solution was to buy all-cash laundromats, mix dirty money in with clean, and then claim that washing ordinary Americans’ shirts and socks, rather than gambling and bootlegging, was the source of his riches.
Almost a century later, the basic concept of money laundering is the same, but its scale and complexity have grown considerably. Were Capone alive today, he would have to run his washers and dryers around the clock to keep pace with demand; the United Nations recently estimated that the criminal proceeds laundered annually amount to between 2 and 5 percent of global GDP, or $1.6 to $4 trillion a year....IMF
Cleaning Up — Countries are advancing efforts to stop criminals from laundering their trillions
Rhoda Weeks-Brown | general counsel and director of the Legal Department of the IMF
Speaking of Al Capone, let us remember that it was Progressives who promoted Prohibition and later government-provided deposit insurance - neither of which has any Biblical support (e.g. Proverbs 31:6-9, Deuteronomy 23:19-20).
ReplyDeleteNot that many so-called Christian denominations heed the Bible either but instead cling to the mere traditions of men.
I pose the following questions to all political economists:
ReplyDelete1. IS IT MORE IMPORTANT TO REDUCE CRIME, HOMELESSNESS, UNEMPLOYMENT, POVERTY, DISEASE, STRESS, ADDICTIONS, WAR, DIVORCE, DOMESTIC VIOLENCE, POLITICAL CONFLICT, CIVIL CONFLICTS, CLASS STRUGGLE, AND ALL OTHER HUMAN SUFFERING AND SOCIAL ILLS, OR IS IT MORE IMPORTANT TO KEEP AND PROTECT ALL THE JOBS, CAREERS, AND INDUSTRIES WHICH EXIST A RESULT OF CRIME, HOMELESSNESS, UNEMPLOYMENT, POVERTY, DISEASE, STRESS, ADDICTIONS, WAR, DIVORCE, DOMESTIC VIOLENCE, POLITICAL CONFLICT, CIVIL CONFLICTS, CLASS STRUGGLE, AND ALL OTHER HUMAN SUFFERING AND SOCIAL ILLS?
2. DOES ANYONE KNOW THE RATIO OF WEALTH AND INCOME THAT IS PRODUCED IN OUR ECONOMY A RESULT OF CRIME, HOMELESSNESS, UNEMPLOYMENT, POVERTY, DISEASE, STRESS, ADDICTIONS, WAR, DIVORCE, DOMESTIC VIOLENCE, POLITICAL CONFLICT, CIVIL CONFLICTS, CLASS STRUGGLE, AND ALL OTHER HUMAN SUFFERING AND SOCIAL ILLS, COMPARED TO THE WEALTH AND INCOME THAT IS PRODUCED IN OUR ECONOMY OUTSIDE OF CRIME, HOMELESSNESS, UNEMPLOYMENT, POVERTY, DISEASE, STRESS, ADDICTIONS, WAR, DIVORCE, DOMESTIC VIOLENCE, POLITICAL CONFLICT, CIVIL CONFLICTS, CLASS STRUGGLE, AND ALL OTHER HUMAN SUFFERING AND SOCIAL ILLS?
I look forward to your responses.