Join us at EartH Hackney on Monday 16 February to see Ash Sarkar in conversation with Aaron Bastani, discussing ‘Why the Right is Winning’: https://dice.fm/event/wwrypg-downstream-irl-aaron-bastani-in-conversation-with-ash-sarkar-16th-feb-earth-london-tickets Sign up for the new Downstream Newsletter here: https://novaramedia.com/newsletters/the-downstream-newsletter/ When it comes to the relationship between capitalism and crime, people on the left generally think of oppression and exploitation. People turn to crime because they can’t make ends meet by legitimate means; they’ve been left behind by the mainstream economy. But there is another relationship between capitalism and crime, namely the relationship between the state, currencies, and money laundering. On Downstream this week, Aaron Bastani talks to Oliver Bullough about his latest book: Everybody Loves Our Dollars: How Money Laundering Won. Bullough explains that money laundering is estimated to be worth trillions of dollars a year globally, and the basic infrastructure for it is the dollar, the euro and the pound. So while the White House talks about the war on drugs and the war on crime, the currency being issued by the Federal Reserve is the infrastructure that allows much of that crime and all of those drugs to be produced and distributed around the world. Our elected officials talk tough, but never take the material steps needed to stop this global flow of dirty money. What is money laundering, and why should you care about it? Does it look different in places like China and Russia compared to the United States? And what do vape shops, NFTs and luxury watches have in common? 00:00 Intro 03:14 Trillions of Dollars Laundered Each Year 07:50 Money Laundering Is Getting Easier 12:16 We’re Losing the Fight Against Money Laundering 15:46 What TV Depictions of Money Laundering Get Wrong 21:41 Bicester Village and Smuggled European Luxury Goods 26:32 The Vancouver Model: Chinese Gangs, Gamblers, and Drug Money 31:57 The Rise and Inefficacy of Debanking 39:28 The Islamophobia of Debanking 45:32 The Paradox of Bank Notes 56:59 Are We Living in Times That Are Perfect for Criminals? 1:01:13 Tether: The Most Valuable Company You’ve Never Heard Of 1:07:37 Why Right-Wingers Love Crypto 1:10:36 NFTs 1:11:26 Governments Are Completely Failing to Tackle Money Laundering 1:14:45 Vape Shops and Compliance 1:17:33 Money Laundering is Everywhere 1:21:51 Policy Solutions Support our work: http://novara.media/support Buy Novara Media merch: https://shop.novaramedia.com/ Discuss the show on Reddit: https://www.reddit.com/r/Novara/_Media/
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