The City of London Euromarket tax haven engine has become a “global piracy system” that facilitates the current wealth transfer from the middle and lower classes to the top billionaire elites.
The current U.S. administration under President Trump works to return the power and wealth to nation states, which challenges the globalist billionaires’ City of London financial system.
City of London tax haven engine: U.S. Treasury Secretary Scott Bessent, who leads the U.S. Treasury’s Operation Economic Fury, aims precisely at dismantling this system of offshore shadow banks, crypto, tax havens and shell companies.
This approach attacks, for example, the financial lifeblood of regimes like Iran and Iran’s elite who launder oil money through shell companies owning luxury UK properties and so on, writes Hanne Nabintu Herland, historian of religions, bestselling author, and columnist at World Net Daily, WND, USA’s largest conservative news network. She is the founder of The Herland Report and its corresponding YouTube Channel and Podcast.
The U.S. is also threatening London’s control over maritime trade insurance, now challenged by the U.S. Development Finance Corporation replacing Lloyd’s, as Bessant explained earlier this year.
City of London tax haven engine: Today, half of the world’s offshore wealth sits in these British-linked secrecy jurisdictions. While Britain lost its military empire, it kept its giant financial empire. The global offshore system doesn’t discriminate by nationality or legality. It launders corporate profits, dictator’s oil revenues, cartel and terror funds alike.
This offshore “casino” moves trillions of dollars annually, arguably supporting corrupt regimes, and criminal networks by laundering money and profiting from the resulting chaos. With the City of London – the British empire’s financial weapon – as its hub, global money is manipulated and flows through tax havens such as the Cayman Islands and the British Virgin Islands, argues Mike Steger at Promethean Action.
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City of London tax haven engine: Ronen Palan, Professor of International Political Economy at City University London, co-author of Tax Havens: How Globalisation Really Works, explains in a 2012 interview with New Left Project how the British tax haven empire came about: “the strong interlink between the rise of the City of London and the rise of the British empire. Usually, large financial centres emerged in the world’s large trading centres. In 1850 Britain was the largest manufacturing centre—about 50% of all global manufacturing was produced in the UK—and so, not surprisingly, it was serviced by the largest financial centre.”
“So the City of London was at the core of the British economy and the British empire. … The City’s power and success during the twentieth century had been in servicing not only the ‘formal’ British empire, but also the ‘informal’ empire: areas, for example in Latin and Central America, which were under the informal tutelage of Britain without being formally part of the empire.”
“In the City of London there emerged all sorts of middle- and small-sized commercial institutions that were really specialists on different countries: they had specialists on Nicaragua, on Peru, on Colombia, on Ghana, and so on. This was the bedrock of the City’s success: highly specialised knowledge of various areas in the world….With the decline of the British empire after WWII this specialised knowledge was still required, and so the commercial institutions in the City continued to be the main vehicle for investment in what were then called ‘developing’ countries (i.e. decolonising countries).”
Professor Palan, co-author of Tax Havens: How Globalisation Really Works explains: “The data tends to treat British jurisdictions like Jersey, Guernsey, the Cayman Islands as entirely separate, independent territories. They are not: they are part of the British state. And if you add them all together, you find that at the moment roughly one-third of all international deposits and investments are going through these jurisdictions, which are remnants of the British empire. If you add ex-colonies whose independence was relatively recent, like Singapore, then you reach a figure of 40%. This compared to roughly 10% going through the US.”
