Giorgio Comai (giocomai)'s status on Thursday, 18-Oct-2018 23:17:36 CEST
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The UK and jurisdictions related to it have been playing an exceptionally important part. Other small island jurisdictions have found a way to escape their post-colonial predicament by monetising their sovereignty, and helping the global wealthy no matter their source of income.
We shouldn't feel bad about Moneyland just because it fosters corruption and gives to the crooked elites of mostly poorer nations the means to deprive residents of their countries of a big share of their national wealth to buy luxury goods (ok, we should).
We should worry about Moneyland because it poses a direct threat to our own democracies. A widespread understanding that laws and taxes do not apply to the rich is damaging in itself. Beyond that, even if Moneyland existed only for enabling a selected few to enjoy a disproportionate amount of luxury goods, the very existence of aboundant "anonymous money" leads to the spreading of conspiracy theories and contributes to loss of trust in the democratic process.