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> It is a little bit of both influencing each other, but the system in London is definitely the killer app I’m super unconvinced this is true. I know many “oli
by rosndo 5y ago
> It is a little bit of both influencing each other, but the system in London is definitely the killer app
I’m super unconvinced this is true. I know many “oligarchs” living in London, most of them do not keep their money in the UK.
I think the people writing about London from a tax haven/money laundering perspective tend to have rather little insight into the quality of life aspect. It’s easy for them to mistakenly assume that the system is the main draw, but the reality on the ground seems rather different.
For very rich people that want to live in a city, London is absolutely the #1 destination.
- ayngg 5y agoI am not saying the reason London in popular is only because of laundering, it is self evident that it is one of the major cosmopolitan metro areas in the world, but I am saying for launderers, London is a top destination. They have been the capital for the financial world for well over a century, you could even say the first globalized world with the Empire, with that there is a lot of money in the city, a lot of money in the city naturally creates the amenities, infrastructure, institutions and lifestyles that appeal and cater to that money over time (laundering being just one of those things), which in turn makes the city more attractive to people with money, creating a virtuous cycle. London exists at the intersection of new and old world globalism, no other city has even been in the game long enough to even compare.