4 ms·
Isn't the whole point of the City of London, to be a legal money laundering economic zone, that brings banks, corporations, money and jobs to the UK?
by joe_mamba 7mo ago
Isn't the whole point of the City of London, to be a legal money laundering economic zone, that brings banks, corporations, money and jobs to the UK?
- echelon_musk 7mo agoPretty much, yes.
- jordanb 7mo agoSpecifically the Eurodollar is the main reason for the City of London to exist. Eurodollars are US dollar deposits at European banks. Originally these were used as a way to give the Soviet Union access to the dollar markets through French banks, but eventually it became a way for basically anyone to participate in dollar exchange who can't have a US bank account. https://en.wikipedia.org/wiki/Eurodollar https://en.wikipedia.org/wiki/Eurodollar