In the latest Tax Justice Network podcast, August 2014: When was the last time you used a $100 bill, a 500 euro note or a 1,000 Swiss Franc note? We look at how Western banks and Treasuries are facilitating crime through high denomination bills.
Also, tax haven reputation damage-management, Switzerland pulls a fast one on India, the European bankers raking in the bonuskis from sanctions against Russia and how the tax haven of Mauritius is...erm...expanding its portfolio.
Featuring: John Christensen of the Tax Justice Network, author of Laundry Men and many other books on financial crime Jeffrey Robinson, Assistant US Attorney General Lanny Breuer, economist and asset recovery specialist Jim Henry.
Presented and produced by @Naoimi_Fowler for the Tax Justice Network.
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If I was a drug or illegal arms dealer, I would definitely thank God every day for Jean-Claude Juncker, for having invented the €500 note. What on Earth was the silly man thinking of? And why do we still have them, and US$100 bills, and SwFr1,000 notes? But those same drugs & arms dealers may soon be doing all their trading via Tor on the ‘black’ internet, using bitcoins for currency, as the podcast hinted. The US Federal Reserve (or the Treasury) the ECB and the Swiss Central Bank had better act soon, or it will be too late. In the meantime, I quite like the idea of being able to do something nefarious with 2,000 €500 notes in a single attaché case – but then I’ve always fancied being a character in a spy thriller (as long as I didn’t end up dead!). (The highest denomination British banknote is the £100 note, but these are issued by Scottish and Northern Irish banks only; the highest denomination English banknote is the £50 note.)