OK - back to the topic at hand. We have seen how money laundering affects rich as well as poor nations. So, what is the issue if a nation is rich? We can obviously see the problem if a nation is poor - money laundering creates more social instability and chaos that poor nations (such as Haiti and Moldova/Romania) do not need. But, what about Monaco and Lichtenstein? They are doing fine.
Well - here is the conundrum for rich nations and money laundering - it affects rich nations more directly and harshly than poor nations. This is a rich nation's problem more so than a poor nation's problem. Strangely enough, this is one of the few types of crimes that will affect nations with a more stable and effective banking system and monetary currency than one that is affected by corruption and instability.
As we have seen in this brief survey, the issue with poor countries and money laundering is that while it is much easier to launder funds through poor countries with ineffective legal systems and high rates of corruption, the money coming from these countries is automatically more suspect. If someone brings $1million out of Haiti vs. bringing $1million out of the U.S., which is bound to raise more eyebrows? Be honest.
So, we have this is the "so what" about money laundering. It may affect rich countries and the wealthy nations may treat it differently, but it paradoxically debases their monetary system. The more money laundering is allowed, the more the nation that allows money laundering becomes suspect and, the more suspect, the more debased becomes the currency.
We will conclude this discussion tommorrow.
As always, have a great and fraud-free day.
http://www.tauskvega.com
------------->>>>>>>>>>>>>>>gene tausk
Well - here is the conundrum for rich nations and money laundering - it affects rich nations more directly and harshly than poor nations. This is a rich nation's problem more so than a poor nation's problem. Strangely enough, this is one of the few types of crimes that will affect nations with a more stable and effective banking system and monetary currency than one that is affected by corruption and instability.
As we have seen in this brief survey, the issue with poor countries and money laundering is that while it is much easier to launder funds through poor countries with ineffective legal systems and high rates of corruption, the money coming from these countries is automatically more suspect. If someone brings $1million out of Haiti vs. bringing $1million out of the U.S., which is bound to raise more eyebrows? Be honest.
So, we have this is the "so what" about money laundering. It may affect rich countries and the wealthy nations may treat it differently, but it paradoxically debases their monetary system. The more money laundering is allowed, the more the nation that allows money laundering becomes suspect and, the more suspect, the more debased becomes the currency.
We will conclude this discussion tommorrow.
As always, have a great and fraud-free day.
http://www.tauskvega.com
------------->>>>>>>>>>>>>>>gene tausk
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