Sunday reading – Moneyland

I have done some book reviews in the past and I am back with another one. Combining 2 of my favorite things economics and investigative journalism. In this excellent book by Oliver Bullough , Moneyland , the shady world of the ‘off-shore’ industry is the subject, it has created a whole new paralel world where extremely rich people can hide money, assets and change citizenship while they are at it.

It has been fueled by the collapse of the former colonies, and communism. What started with the increasing desire not too pay taxes has grown into a monster where oligarchs , dictators alongside global company’s hide their profits from country’s.

It’s painfully clear that the growing inequality , outdated concepts like nation states and their laws are outpaced by instant global money transfers, a willing and able army of lawyers, accountants and other experts ready too advise some very shady people hide everything.

It’s like trying too outrun a formula 1 car. It’s time for a global overall in the way we think and act on these sorts of fraud. Because it maybe not fraud if you look at the letter of the law , but’s it’s sailing true giant omissions in the different laws in different country’s at the least. And fraud and criminality at it’s worse.

All written in a sharp and understandable way, it’s a pageturner and one I highly recommend if you want too have some insight in how money moves around the globe.