The art of money laundering © fintag

Sunny day in Hong Kong © fintag

News comments:
As most of you know, the American post war pop art madness was inspired by the CIA (gizmodo) who wanted to show those Ruskies that America was leading the world in culture.

Most pop art was a piss take. Today this art, with its bright colors and child like simplicity (give or take a few Rothco's), is a money launderers delight. It is the preserve of the anonymous super rich who buy via telephone and wire money from afar and execute deeds of ownership on behalf of nominee owned tax haven companies. So the recent art fest in New York (telegraph) was not unexpected.

Spending USD40m isn't that easy and especially on something that will appreciate in value. Yachts, women and wine are flight by night expenses and large properties and companies are dull. So why not own iconic masters that will be replicated and put in safe storage and help shift some of those slightly dodgy dollars into keeping alive a vibrant art market.

So what will the super rich be buying in 2060? How about this chap for starters:

Cartrain

Back to the real world. Did you see the Channel 4 programme last night Britains Trillion Pound Horror Story?. Upshot is we should look to Hong Kong to save Britain. I look forward to seeing live fish on tables and my lungs full of acrid pollution. That was cynical. Sorry. I love Hong Kong and I wasn't aware it came alive in the 1960s when they put in a flat tax regime. From having the GDP/head worth peanuts, Honkers now have GDP/head well exceeding most of Europe.

Alas the UK has increasingly unpayable debt (bring on rampant inflation please) and a state that is bigger than that of China. What chance that we will ever get a Tea Party revolution in the UK?

Yours

Comrade Taggit.