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The financial activity is not generally corrupt, it is the act by the which the money is obtained that is corrupt. The immense pressure of money laundering com
by conanbatt 6y ago
The financial activity is not generally corrupt, it is the act by the which the money is obtained that is corrupt.
The immense pressure of money laundering comes with a lot of consequences to the cost of transactions, the utilization of commercial banks as part of monetary policy, etc. This is one of the core reasons why bitcoin exists, to precisely avoid these kind of banking issues.
Moreover its over-sensationalized with the conflation between money and wealth. All the dollars stashed away in a cayman islands account is doing no harm to anyone: its depreciating as it is as a holding. Money has no effect unless its spent. And whatever is spent is just as good as regular consumption.
It's not even in the interest of government to get the money back: if a few trillion dollars were suddently released into circulation you would have inflation and would not be able to print money that gov is already spending.
Following the money to fight crime has been a ruse.