The Spider's Web: Britain's Second Empire | The Secret World of Finance
Independent POV6 HN recommenders · recommended in 8 months, 2019-2024
7.9M views · 8 years ago · documentary · evergreen
A feature-length documentary on how the City of London and Britain's overseas territories built a global web of offshore secrecy jurisdictions after the empire declined. It traces how this network captured and hid wealth from around the world.
Commenters repeatedly recommend it in tax haven and offshore finance threads as an excellent, low-budget overview of British offshore finance.
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14 comments from Hacker News
Anybody who is interested in this topic really needs to go see this awesome documentary: The Spider's Web: Britain's Second Empire | The Secret World of Finance ▶ this video It was even done on a 4klb budget!!! The reality is that the brits realized they could no longer maintain hard power and Lionel Curtis was the primary pusher of the psyop transition to "commonwealth" soft power while maintaining all the real vestiges of empire under a false name.
Bengali cuisine today is a living testament to these times. We have dishes that use jute leaves (a waste product from the jute being produced), tree barks, mango/jackfruit seeds, even just water leftover from cooking rice (people would beg at the doors of richer houses for the rice water). We have separate dishes for ripe/unripe/overripe fruits and vegetables. Nothing could be wasted. My friends would joke in school that “God you bengalis eat everything,” but there is a grim history behind it. — source, am bengali, grew up listening to grandparents’ stories. A number of reasons but primarily British Colonia policy. When the Japanese invaded Burma in 1942 there was a huge influx of refugees into Bengal, approximately 500,000 people which strained the local economy. Additionally the British Raj government had laws which forced local suppliers of goods such as food and textiles to sell to the military at a fixed low price but no price controls for the civilian market so any goods making it to the civilian market were already hugely inflated in price. What really kicked off the famine that killed over 3 million people though was the British decision to enact a scorched earth policy in bengal in anticipation of a Japanese invasion, burning crops in the fields and destroying stockpiled food supplies. Several members of the British government in India did in fact plead to Churchills cabinet during this period for relief shipments of food to stave off the growing famine from 1942-194
This was a very wordy article that really ignores the true documentary makers that make informative documentaries on a shoestring budget because it's an important topic to them. The corporatization of everything is such a long-tail evil... If you want just one example, check out this excellent documentary made on a budget of £4k: ▶ this video
The challenge for the UK is that the flywheel of the City of London corporation and its offshore wormholes were at the core of globalization. Ironically the nation state the CoL coexists with (the UK) is as large a casualty of this as the many colonial nation states ravaged by globalization. This was compounded by the globalists - which the Economist exists to promote - forcing the merger of the UK into the european union. The vote to leave by the proletariat demonstrated massive dissatisfaction, but sadly there are subsequently no credible political parties or leadership that are not closely aligned with the CoL and/or the EU, resulting in a becalming. The Spider's Web: Britain's Second Empire | Documentary Film ▶ this video 'Michael Oswald's film The Spider's Web reveals how at the demise of empire, City of London financial interests created a web of secrecy jurisdictions that captured wealth from across the globe and hid it in a web of offshore islands. Today, up to half of global offshore wealth is hidden in British jurisdictions and Britain and its dependencies are the largest global players in the world of international finance'. 80 minutes, well worth watching imo
It is a little bit of both influencing each other, but the system in London is definitely the killer app. My understanding of the history is that there are systems that have been entrenched in the London financial industry going back centuries due to the unique history of the City of London and how it administrates itself separately from the rest of England/ GB. It was the global hub during pax brittania, and remained the financial hub of the world after the war thanks to the Eurodollar. It was at this point that tax systems were devised involving their crown dependencies to obfuscate everything which made it a popular place to launder money. A lot of the opulence has developed along side over all these years. So it was the case that London was the city of the world during the empire which made it the candidate for running the Eurodollar system to rebuild Europe which cemented its place as the financial capital of the world up until America financialized their economy in the late 70s, its colonies allowed for unique tax systems which made it even more popular. I got most of this from the book entitled Treasure Islands: Tax Havens and the Men Who Stole the World by Nicholas Shaxson, and the documentary ▶ this video that was inspired by it.
Before going after individuals like Dyson in that regard, deal with institutions like the City of London Corporation and BoE first [1]. [1] ▶ this video
Kind of off-topic, but there's an excellent documentary called The Spider’s Web [1] that explores how society reached this point of valuing increasingly ridiculous displays of paper wealth and the financialization of everything through the lens of British offshore wealth secrecy schemes. [1]: ▶ this video
If are interested in this topic and you haven't seen the independent documentary "The Spider's Web: Britain's Second Empire", you owe it to yourself. It's a superbly done documentary on a budget of ~4k£. ▶ this video
>It seems strange to me that so many people are onboard with privacy most of the time, but when it comes to financial privacy anybody who doesn't want the government to know which books they buy is somehow a villain. This is a failure of government to protect it's peoples from supra-nationalist oligarchs who abuse various economic shell and tax avoidance friendly nations systems in order to abuse their country of origin (or country of profit origin). This is not at all about "what books they buy" and to say so is poor form and intellectually disingenuous. That said, you may be right that some innocents may get wrapped up in this, but I would venture this example you've pulled out of your hat is an extremely small percentage of who would be revealed. To be honest the biggest problem I have is that we've become so normalized to this kind of shit that hardly anything happens from the revelations. Just look at the Panama papers for example, besides a journalist or two getting assassinated because of it, nobody was held to account. Combine that with things like Epstein's lack of prosecution and later assassination and what I see is the overton window moving to normalize corruption as a required pragmatic approach to power such that most people will openly admit the rule of law simply doesn't apply to the elite. This, therefor, is hacktivism of the finest kind imho. The people standing up for themselves when even their own governments won't. Any potential fallout relating to innoce
> Although I will always be curious why countries are letting those small, insignificant islands and countries manage all this wealth This is easy, after all hiding cash is needed by everybody. And when it comes to finance , there are no countries only financial interest. Of course nothing bad will happen to these financial heavens, because they are protected by the richest and most powerful people and organisations. "The Spider's Web: Britain's Second Empire"[1] gives a good overview of how this started. [1] ▶ this video
For those interested in this subject, I can't recommend the documentary "The Spider's Web: Britain's Second Empire" [1] highly enough. The guy who behind it not only did an excellent job, but did it for a tiny fraction of what a bigger studio would have spent for a much more inferior end result. [1] ▶ this video
This is an incredible documentary about British tax havens and the influence of the City of London in the running of UK government & foreign policy ▶ this video
If this is a topic of interest, I can recommend this independently created documentary 'The Spider's Web: Britain's Second Empire'. It's the story of how Britain's elite created a financial web spanning the globe, replacing the old empire with a new financial one, running from the Commonwealth countries back to London. That's why so many overseas British territories are associated with money laundering and tax evasion. Free to watch on YouTube: ▶ this video
There is a massive 'fear campaign' drip dripping dire news in the UK every day if the people don't reconsider leaving a federated europe. The EU is well past its sell-buy date, won't reform and globalization has taken full advantage of its undemocratic structure for offshore commercial gain. The divide and rule aspects of the UK EU referendum results are being exploited to the full. Like the last US election there is no good result for the English people - remaining or leaving are both going to have an ugly side. The City of London rules the financial world and enables incredible sums to float offshore via trusts and opaque corporate setups. What we are seeing is a further divide between the haves and have nots. ▶ this video < spiders web documentary 'At the demise of empire, City of London financial interests created a web of secrecy jurisdictions that captured wealth from across the globe and hid it in a web of offshore islands. Today, up to half of global offshore wealth is hidden in British jurisdictions and Britain and its dependencies are the largest global players in the world of international finance.' This makes the consumer banks and FS firms shuffling fiat currencies around europe a tiny drop in the ocean