6 ms·

Putin also used Deutsche Bank to laundry $20bn. https://www.theguardian.com/business/2019/apr/17/deutsche-bank-faces-action-over-20bn-russian-money-laundering-

Putin also used Deutsche Bank to laundry $20bn. https://www.theguardian.com/business/2019/apr/17/deutsche-bank-faces-action-over-20bn-russian-money-laundering-scheme https://www.theguardian.com/business/2019/apr/17/deutsche-ba...

7373737373 6y ago
I really wonder what role money plays at this level of magnitude, abstraction and politics. Why does money still seem so important to groups of people who already effectively control an entire country? What is it used for? What does money even mean for a billionaire? For them this doesn't seem to have its usual nature as the stuff one earns directly with labor and pays food and rent with. Going along with the millenia old abstraction of kingdoms, do they perceive their organizations as 'part of their body', like the rulers who claimed sovereignty over land and populace, incorporating it?
- rwmj 6y ago
  I guess for full-blown clientelism[1] across an entire country you need very large sums of money to keep paying everyone off. Putin will be very aware that his own life is likely in danger if the music stops. [1] https://en.wikipedia.org/wiki/Clientelism https://en.wikipedia.org/wiki/Clientelism
  - 7373737373 6y ago
    Would it not make more sense to handle this via the central bank? To just take control over the national financial and monetary system? Or do other currencies become even more valuable if this type of collusion takes place? I guess the relatively free trade and money flows make full control impossible. Edit: I suppose if you want to import (luxury) goods you need foreign currency...
    - ceejayoz 6y ago
      > Would it not make more sense to handle this via the central bank? Not if you want to survive post-coup exile in luxury.
- tdeck 6y ago
  What is it used for? What does money even mean for a billionaire? It's power. The more money you have, the more people will want to be in your good graces, even if you're not paying them to be. It's a bunch of potential energy that can be converted into action whenever the holder wishes.
  - 7373737373 6y ago
    'Richard Dawkins said in an offhand comment in The Selfish Gene that “Money is a formal token of delayed reciprocal altruism.”' (from: https://nakamotoinstitute.org/reciprocal-altruism-in-the-the https://nakamotoinstitute.org/reciprocal-altruism-in-the-the...)

7373737373 6y ago

I really wonder what role money plays at this level of magnitude, abstraction and politics. Why does money still seem so important to groups of people who already effectively control an entire country? What is it used for? What does money even mean for a billionaire? For them this doesn't seem to have its usual nature as the stuff one earns directly with labor and pays food and rent with. Going along with the millenia old abstraction of kingdoms, do they perceive their organizations as 'part of their body', like the rulers who claimed sovereignty over land and populace, incorporating it?

rwmj 6y ago
I guess for full-blown clientelism[1] across an entire country you need very large sums of money to keep paying everyone off. Putin will be very aware that his own life is likely in danger if the music stops. [1] https://en.wikipedia.org/wiki/Clientelism https://en.wikipedia.org/wiki/Clientelism
- 7373737373 6y ago
  Would it not make more sense to handle this via the central bank? To just take control over the national financial and monetary system? Or do other currencies become even more valuable if this type of collusion takes place? I guess the relatively free trade and money flows make full control impossible. Edit: I suppose if you want to import (luxury) goods you need foreign currency...
  - ceejayoz 6y ago
    > Would it not make more sense to handle this via the central bank? Not if you want to survive post-coup exile in luxury.
tdeck 6y ago
What is it used for? What does money even mean for a billionaire? It's power. The more money you have, the more people will want to be in your good graces, even if you're not paying them to be. It's a bunch of potential energy that can be converted into action whenever the holder wishes.
- 7373737373 6y ago
  'Richard Dawkins said in an offhand comment in The Selfish Gene that “Money is a formal token of delayed reciprocal altruism.”' (from: https://nakamotoinstitute.org/reciprocal-altruism-in-the-the https://nakamotoinstitute.org/reciprocal-altruism-in-the-the...)