Part 9/13:
This unique status facilitates transactions that would ordinarily be impossible under stricter regulatory environments, effectively attracting the world’s banks to its shores. The City of London Corporation, composed primarily of business interests, acts as a lobbying entity, shaping financial policy to maintain and enhance its lucrative control over global finance.
The Legacy of Regulatory Evasion
The allure of tax havens in the British Empire's remnants serves a dual purpose: they provide refuge for illicit financial activities while masking ownership and accountability. Trusts, shell companies, and offshore accounts create convoluted pathways that enable wealthy elites to evade taxes, exacerbating inequality and depriving developing nations of desperately needed resources.