Hot Money and the Politics of Debt - Softcover

Naylor, R. T.

4.07

30 ratings by Goodreads

9780044401889: Hot Money and the Politics of Debt

Softcover

ISBN 10: 0044401884 ISBN 13: 9780044401889

Publisher: HarperCollins Publishers Ltd, 1988

View all copies of this ISBN edition:

A ball of hot money rolls around the world. It seeks anonymity and political refuge. It dodges taxes and sidesteps currency controls. It rolls through offshore shell companies and secret bank accounts, phoney charities and fraudulent religious foundations. It is kept rolling by white-collar criminals, gun-runners, drug dealers, insurgent groups, scam artists, tax evaders, gold and gem smugglers, and, not least, secret service agents plotting coups and financing revolutions. R.T. Naylor explains the origins of this pool of hot and homeless money, its origins, its uses and abuses, how the world of high finance, corporate and governmental, became hostage to it, and the price the world is paying and will continue to pay until the hostages are released.This book was one of the first, and remains the most comprehensive, to dissect the world of offshore finance, capital flight, money laundering, and tax evasion. Once a subject of concern principally to tax authorities and finance ministries, since the September 11, 2001 hot and homeless money has now become a central preoccupation for police forces and intelligence services around the world.

"synopsis" may belong to another edition of this title.

Review:

"Naylor's book is a damning indictment of the way the world is run." The Toronto Sun "Naylor outlines in convincing ... detail the controversial mechanisms by which international financial relations are conducted." MacLean's Magazine "Naylor's presentation is disturbing reading. For that reason alone it merits the attention of anyone concerned about the current international monetary mess, its potential for destruction - and its heart-rending impact on millions of defenceless people." Telegraph Journal "[An] extraordinary book." Irish News "Naylor spells out a bewildering array of concealment techniques that enabled ex-Philippines president Ferdinand Marcos and deposed Haitian dictator Jean-Claude (Baby Doc) Duvalier to spirit large sums of money out of their countries. And for every hot money haven that comes under pressure, perhaps a dozen more open up." The Toronto Star

Synopsis:

An account of the interrelation between the international debt crises and the proliferation of "hot" money which banks are "laundering" and lending back to Third World debtors. The author contends that capital flight is what fuels the debt crisis and asks why the sovereign debt should be repaid.

"About this title" may belong to another edition of this title.