I feel like this video only really started in the last 4 minutes and it stopped just as it was getting really interesting. I wanted to know more about how London was defying the predicted exodus that would happen after Brexit. Too much setting the scene which has been done in older videos before getting into the subject matter.

@juliane__

2 жыл бұрын

Yes. I'm not into deep, but I know Europe and US cracked down on tax oasis overbroad. What if this is successful and London loses these vital incomes in the long run? Investors are finally forced to trade legally with Europe and the US, will the focus then change even more to Russia and (maybe?) China?

@mdiarra2

2 жыл бұрын

@@juliane__ That's what one of the London veteran explained with some Historical facts. Based on the expertise available in the City, many expect Chinese money (Asia Pacific overall) will be next to come to London to repeat the cycle

@juliane__

2 жыл бұрын

@@mdiarra2 I see rather bad times arriving for the UK or at least weird ones. I don't think they can outcompete Asian finance places in the long run. It just doesn't make sense, if there is only small trade with Europe left. Asian countries will catch up and London will decline. This is a very risky strategy.

@YouD0ntSay

2 жыл бұрын

The Exodus has been postponed. The EU extended the grace period for euro-clearing to 2024. And its not "London" or "the UK" , but mostly foreign financial institutions that chose London as location. Ans these companies follow the money. London has already lost the leading position on sjares trade to Amsterdam. Amsterdam! Let's see where London stands at the end of 2025. The EU is very systematically, slow and steady. The fact is that for financial markets, brexit hasn't even started. So the vid I'd BS.

@arthas640

2 жыл бұрын

It's too early to say either way if Brexit will work out for the better, create no net change, or hurt the UK in the long run. Everyone jumped on the fact that there were short term losses (which any radical change to politics or the economy causes even if it's a long term benefit such as the end of communism in the USSR) but it's surprising that we didnt see a radical change in the beginning with the economy contracting in some areas while growing in others and in 2021 after the worst of the pandemic's effect on the economy was over we started seeing rebound and by some metrics there's been a decent amount of growth. I've seen some estimates that say the UK had a GDP of around $2.7 trillion when Brexit got voted on and the economy briefly stalled but by the end of 2021 the economy was sitting at around $3.1-$3.3 trillion.

The city may have lost the legal EU money after Brexit, but clearly the increased secrecy on dirty money is more than enough to compensate what's lost

@TheMagicofJava

2 жыл бұрын

Indeed and that was the real reason for BREXIT as EU was cracking down on dirty money.

@narendra62

2 жыл бұрын

@@TheMagicofJava indeed you have no idea. Brexit was a long overdue popular revolt against globalisation. Main reason.

@XanderVJ

2 жыл бұрын

@@narendra62 well, hello, Russian bot. The "revolt against globalisation" bullcrap was discredited a long time ago.

@deboraleggerini5729

2 жыл бұрын

@@TheMagicofJava exactly! UK would not be able to continue doing what it has always exhaled; money laundering.

@deboraleggerini5729

2 жыл бұрын

@@narendra62 hahahaha. Jokes

The City of London does all the trades and it is a separate economic entity apart from London and the rest of the UK.

@muricafy6798

2 жыл бұрын

Yep been seperate since acient times. Ruled by guilds

@jon6309

2 жыл бұрын

I even heard that the Queen needs an invitation to enter their jurisdiction. Almost like a separate country to me!

@bryansmith1920

2 жыл бұрын

True but is it Smoke and Mirrors

@hivaladeen4892

2 жыл бұрын

Great loophole to be able to govern its own policy making whilst still being deceptive enough to be just “part of London”. I mean, the fact that the City of London has its own mayor and Alderman council says it all really. Like a semi autonomous region

@jon6309

2 жыл бұрын

@Bessie Hillum the United Kingdom operates like the Corellian System.

josh, stop skimping on the tropical shirt!

1:08 I suspect this is an editing mistake, the city of London is not made up of 33 boroughs, London is made up of 33 boroughs

@steinarjonsson_

2 жыл бұрын

The City of London is not a borough of London, but rather a separate district (33rd district of Greater London) that belongs to a separate county (ceremonial county of The City of London). It is part of England but the Queen is not its sovereign. This means that it is represented in parliament but does not require royal assent.

@xanderreyno

2 жыл бұрын

This made me double take too. I get what they meant but they worded it completely backwards.

@gepwxaqdfsidsesg1548

2 жыл бұрын

Yep they got it wrong. I'm in Hillingdon so in greater London, but not even in central London let alone the city of London or Square Mile.

@ricardo34979

2 жыл бұрын

Indeed, put simply “The City of London” is a distinct entity from “London” and is not a borough ah all. I stopped watching the video at this point as it’s a fundamental point!

@jdb47games

2 жыл бұрын

Indeed. The original script might have been correct, but I suspect some non-British editor didn't understand the subject, and cut out some vital words.

World epicentre financial services for dirty & corrupt money. Now without the worry of EU scrutiny. The next stage of ensuring t continues to do that has already began.

@nctamer

2 жыл бұрын

Agree, all the video should have been about corrupted dictators and criminals rather than praising the most illegal market in the world

@RS-ls7mm

2 жыл бұрын

The motto is if you aren't cheating you are not trying. The sad fact is that if don't cheat someone else will. People are seriously greedy.

@ashleygoggs5679

2 жыл бұрын

corruption is in every financial market, you would be naive to think it resides in just one.

@nctamer

2 жыл бұрын

@@ashleygoggs5679 I think you didn't read the argument carefully, what's unique in London is not the corruption itself, as you said it's everywhere. What's special is the secrecy the City provides for the most corrupt dictators, officials and criminals from all over the world... Even the Swiss banking is nothing compared to this web of offshore trust system based around the capital of money laundering. If you look at some statistics on the UK economy you can deduce yourself how a "developed democracy" of 67 million earns half of its GDP from the corruption and inequalities of the "developing" world.

@oliverbanes5121

2 жыл бұрын

@@nctamer Spot on

i do think the vid is wilfully misunderstanding what the doom and gloom predictions about City future are and were about- mostly about Euro trading and Euro nominated business which is gonna move to EU, EU understandingly decided to move it back under its purview and already set the target date 2025. And in the world of top tier of world global trade centres its cut-throat race- one centres loss is other ones gain, and its often game of small percentages and cumulative effect which may turn any slip up no matter how small into competitors permanent advantage. Hong Kong seems to be greatest loser due Chinas tightening grip on it but in case of City its all about rivalry with Wall Street and unavoidable loss of big part of Euro trade which is moving mostly to EU and Wall Street may quite possibly end up with better Euro trading deal than London and it would over time attract other related business that would be otherwise made in the City if UK stayed in EU and such development would permanently remove City as contender for global no. 1 spot even if City remains the biggest financial centre in Europe.

@mmlas8683

2 жыл бұрын

EU treaties pushed mainly by France repeatedly tried to damage the city of London with stringent regulation. London was not a paradise within the EU and was being held back in large part. Brexit does cause some issues, but it will benefit in the long run as the global economy shifts towards Asia and away from declining Europe.

@rehurekj

2 жыл бұрын

@@mmlas8683 well you may think so but actually the opposite is true. EU treaties protected London when eurozone tried to push eurobusiness from City to eurozone and large part of financial regulations EU adopted was designed with City in mind and for City, the lobbyists and UK govt made sure of it.

@neodym5809

2 жыл бұрын

@@mmlas8683 Asia doesn’t need London, it has its own financial Centers.

@Ya00567

2 жыл бұрын

@@mmlas8683 thats what the UK gvt love to say, but the truth is that no other regulator had such impact on EU rules as the British one. Finally, there's some damn reason we have regulations in a first, avoiding another financial crisis that really shook the continent sounds like a solid justification for me.

@ihl0700677525

2 жыл бұрын

The "Remainers" claim that leaving EU means the end for London as global financial center, *NOT* just for Euro market, which is *obvious.* They claim banks and financial institutions (including British one) will move to Paris, Berlin, or Amsterdam, and most of high paying jobs in financial center will be gone. You know, the standard "doom and gloom" fearmongering tactics. It works on financial workers and the city itself voted heavily in favor of remaining in the EU (IIRC ~65% voted remain). So yea, the ship sails, and the effect is not that significant.

Lots of information was unknown to me before watching this video. Great video. Keep it up.

@nctamer

2 жыл бұрын

Then you'd be amazed if you search for all the intentionally hidden information from this video: the clownish looks of the "lord mayor of london", the trust system which brings secrecy to the most corrupt dictators and criminals in the world (and how london helps them to steal money from the poorest countries to invest in the inflated real estate market of london). Not even talking about the panama papers, pandora papers etc... How London keeps relevant after Brexit is in reality a story of secrecy and inequality on steroids...

London was never a financial capital because of the eu, it has been for 400 years, the eu is 30 years old if you measure it from Maastricht

@jskim8418

2 ай бұрын

Exactly.

"The prophecy has failed" Yeah, it only took, as you yourself said, to loosen up even more the regulation on finantial assets. What could go wrong? This is only good news for the owners in the City of London. Residents of London and people of the UK in general will only suffer from this lack of regulations during the next finantial crisis.

@Daniel-gs9eh

2 жыл бұрын

you clearly havnt looked at the regulation changes or dont understand them.

@sko1beer

2 жыл бұрын

why would a crisis effect the people that live in London? most of it is not London peoples money its other people money most people that live in the UK dont care about how its casino is run as long as its winning

@tomspoors768

2 жыл бұрын

The "prophecy", whoever the prophet was, is a classic straw man. By declaring the prophecy dead all you've done is declare the prophecy dead. You made some good points but your data in my view were a bit selective and the video production a bit too glitzy to be really convincing.

@richardwills-woodward5340

2 жыл бұрын

Try the trade with China and Russia by the EU. Their goods market is awash with blood money.

@sko1beer

2 жыл бұрын

@Bessie Hillum what shops had saw dust on the floor?

Where is black money? Money laundering? Do you think this video makes any sense without emphasizing all the illegal acts the City trusts are involved in?

@arthas640

2 жыл бұрын

it's an issue but makes up a minority of their trade. Compare that to countries like China where large parts of their economy are based on fraud, stolen tech, money laundering, slave labor, and trade in controversial goods like rare earth minerals from the Congo. London is a byzantine system but it's utterly transparent compared to other markets like China's and to make things worse China's economy is many times the size of the UK's allowing them to get away with far more shady business both in finance and in business overall.

@tomjones7184

2 жыл бұрын

It’s not illegal tho is it?

@arthas640

2 жыл бұрын

@@tomjones7184 It's one of those things where they either A: suspect the money is used for an illegal business but have no proof or B: it was illegal and the British caught them. There were some articles written not too long ago about massive amounts of money from illegal businesses going through London but the whole reason the journalists knew about it was because the British caught them. The articles also didnt always mention the fact that their info was years old and the money had been passing through London before 2014 and a key piece of info they chose to leave out was that the British started new operations and new laws to catch money laundering such as Operation Choke Point in 2013. The British also started cracking down even harder recently since some of the largest money laundering operations are from Russian oligarchs. The Brits along with much of the West art seizing assets like that due to the war in Ukraine so they'll be busting up those money launderers even harder. The Brits have also been trying to track down American and Mexican cartel money for years and they were a big part of that Operation Choke Point. There is plenty of money that gets "laundered" by London that's perfectly legal too. Same as plenty of other European states like Ireland, Luxembourg, Lichtenstein, Ireland, Switzerland, the Netherlands, and to a lesser extent Malta and Cyprus the British have some tax havens where they funnel money through to avoid international taxes. That money is legal and for some reason people hate it when the British do it but ignore the fact that numerous other European states do the same thing, plus other countries outside Europe like Singapore and Hong Kong. The British get called out on it all the time and at least have made efforts to analyze the money closer whereas people like the Swiss largely ignore where the money comes from. Some countries like Lichtenstein and Luxemborg have large portions of their economies devoted to hiding money for criminals, dictators, and global corproations. Kim Jung Un alone is reputed to have $4bil hidden in Luxemborg and they dont even really have a deversified economy, they're basically just a shell used to hide money and everything else in the country is just to support their banks with 87% of their economy represented by services and almost all of that relating to the financial/banking sector so they have zero reason to rock the boat by investigating anything.

@tomjones7184

2 жыл бұрын

@@arthas640 yep I ain’t gonna read that😂

So simply the worst case scenario did not happen, that is quiet normal when talking about worst case scenarios. But Sounds to me that in the long run both London and the Euro zone banks are winning.

@studylondon5362

2 жыл бұрын

london will see a huge growth, it was shackled by euro-regulations

@neodym5809

2 жыл бұрын

@@studylondon5362 Well, name those euro regulations, please.

@1968Christiaan

2 жыл бұрын

You are absolutely right. I work regularly with two financial transaction companies.... based in London until last year - both moved to capitals in the EU. Account managers at both companies told be it was because of Brexit. I think the long term trend is more important than an 18 month analysis.

@VinceroAlpha

2 жыл бұрын

@@studylondon5362 the CITY of London, not London

@andibk2853

2 жыл бұрын

regarding the trade shifting graph, worst case scenario already happened since no deal was agreed for the financial section during transition period between euk-uk. Let's not expect the sky to fall over for the worst scenarios. hope things can stabilise and not get worst

No one said London financial city would 'collapse'. It would lose a lot of business to the E.U & the U.S . And that's what happend.

@lovelybitofbugle219

2 жыл бұрын

Literally every liberal on earth said that.

@lovelybitofbugle219

2 жыл бұрын

And said we'd all be starving 😀

@korneldura7640

2 жыл бұрын

@@lovelybitofbugle219 that’s not true, brexit was a idiotic mistake made by short term tinkerers and complete idiots, the financial sector is suffering and Brexit is making the country poorer

@spiritualanarchist8162

2 жыл бұрын

@@lovelybitofbugle219 Who did ?

@lovelybitofbugle219

2 жыл бұрын

@@korneldura7640 oh those short time tinkers are terrible.

Well that's contrary to what i read on numerous news outlets! Sadly im going to take age old media over clickbait. Also ive been to Bergamo and my wife is from Brescia the neighboring city. There is no shoreline it has a river running through it.

@darkestkhan

2 жыл бұрын

Kind of reminds me of the joke I always tell: I live on the island. In Poland. How come? Well, some cities are on mid-river islands.

@86samsky

2 жыл бұрын

@@darkestkhan to be fair some districts of lake Garda are under Bergamo. Just find it hard to take this as definitive but loads of mainstream media says the polar opposite

@darkestkhan

2 жыл бұрын

@@86samsky probably because "shores of Bergamo" sounds nice and most people neither know where Bergamo is nor will they bother checking it out.

thnx man it did not take you long!!!

A fair attempt to hype the City, but wait until 2025 to know the outcome, as things are still in motion with regards to London's financial market.

@indogoUI

2 жыл бұрын

Especially since the EU are still moving business away bit buy bit. Not only this but the EU have opened up USD clearing houses also

@richardwills-woodward5340

2 жыл бұрын

@@indogoUI And it will fail, as it did every single time they have attacked London for decades.

@indogoUI

2 жыл бұрын

@@richardwills-woodward5340 They only failed because the UK kept running to the ECJ. Now that's out of the way things are in motion.

@richardwills-woodward5340

2 жыл бұрын

@@indogoUI The ECJ is the problem. It is non-common law based and has anti-business and anti-liberty engrained in it from Catholicism and the Napoleonic code.

@indogoUI

2 жыл бұрын

@@richardwills-woodward5340 The ECJ is what kept Euro clearing in London. Not to mention other banking instruments. Lots of assets moved away

If you want to truly start with the financial history of the City of London, why don't you start from its true origins with the slave trade and piracy? How pirates (privateers) were financed to raid Spanish galleon ships for gold? How slave ships were financed for African expeditions from the then coffee houses in the City of London? How slave ship owners would drown slaves in order to collect the insurance money from Lloyd's shipping? How the plantation system in the Americas was financed by London?

@Salem-no8hc

2 жыл бұрын

It’s history goes further back than that. It goes back to William the conqueror and the one that funded the USA in its earliest years

@JA-pn4ji

2 жыл бұрын

@@Salem-no8hc Rubbish, those are the lies the English tell themselves. The financing of naval power and seaborne trade is at the historical centre of London's financial success. Naval power through the financing of privateers like Sir Francis Drake, Henry Morgan... brought stolen wealth (from Spain) that financed the construction of more naval ships and slave ships that in turn supplied labour to the plantations of sugar and tobacco in Jamaica and Virginia US respectively. Sugar was the amphetamine (as seen by its effects on toddlers) of the time and its supply energised the British workforce in preparation for the industrial revolution. London under William the Conqueror had less global financial influence than Venice, Milan or Florence, these cities along with the Medici family were the preeminent financiers of William the conqueror's era not London. The first English colony of Jamestown in Virginia was founded 600 years after William the conqueror, so any suggestion that he, or the London of his era, financed it is historically wrong.

@Salem-no8hc

2 жыл бұрын

@@JA-pn4ji the sugar trade began in the 11th century and the slave trade began in the 17th century and the industrial revolution began in the 18th century. Your numbers and presumed facts don’t correlate with the dates. Sugar wasn’t what started the industrial revolution it was coal. London city as a centre began in the Tudor ages and later rose to bigger prominence under the house of Stuart and later Hanover.

@JA-pn4ji

2 жыл бұрын

@@Salem-no8hc The London sugar trade went hand in hand with the slave trade. Sugar itself has been traded for a millennia, we are talking here about the London's involvement and that started in the 17th Century hand in hand with the slave trade. You are wrong that the slave trade started in the 17th Century, it is London's or England's involvement that started in the 17th Century, the Arabs, Portuguese and Spanish had earlier involvements in the trade. The UK in its earliest sea trade was involved in pirating Spanish wealth derived from the slave trade. The role of sugar in the human diet cannot be ignored and you can't deny or assign human progress to one commodity. You first claimed William the conqueror era as responsible for the rise of London as a financial centre, then you moved forward in time to the Tudors. It's you that's got your dates mixed up. You deliberately obfuscate by ignoring economic factors and instead concentrate on political monarchical ascension as the basis for London as a financial centre. You also deliberately omit 'financial centre' which is what my original comment was about and replace it with 'centre' , a clever and deceptive omission because centre could be political, geographic, industrial etc. When the topic addressed by the video and myself is about finance. Your argument boils down to stating that monarchs (political organisation) determined the financial ascendancy of London while I say economic factors were responsible, of which the biggest 'elephant in the room' - which you try to down play, is the slave trade.

@Salem-no8hc

2 жыл бұрын

@@JA-pn4ji we are on a KZread comment section so I’m not going to reply to the whole thing. But please go do your research a lot of wrongs were written here

Images don't quite match up. EuroNext moving from Essex to Bergamo is illustrated with pictures of Cambridge and somewhere with a coastline (which Bergamo does not have). Really informative though :)

The editing in this video with all the B-roll stock footage and music breaks is incredibly poor. Fire your editor

The whole video and specially the 1st few minutes start with a false premise, that EU was keen on taking the business of the city. However, it was always known EU countries could only take a small slice of that pie with the majority of business trades going to NY. This is and always was evident EU countries couldn’t “instantly” create a financial industry from ground up, at least evident for reasonable people. Only Brexiters are pretending otherwise, for then say “ohh look, it didn’t happen, Brexit Win!!” EU companies are customers, and now the City have in the same footing as NY, Hong Kong, etcetera. Not more a customer flying to UK to do business with a safety of relying on a “single market” frame support.

@rogink

2 жыл бұрын

Nice rewrite of history. Mr Putin would be proud! Frankfurt, Paris, Amsterdam were all rubbing their hands with glee after the Brexit vote. If you want a source, look no further than the UK govt, which warned us this would happen before the 2016 vote. And I should add to your claim - how patronising! - many EU countries have had a long history of finance industries before Brexit.

“The Prophecy has failed” he said... 🙄😂😂😂😂😂

@richardwills-woodward5340

2 жыл бұрын

It has. London miles ahead and has no competition in Europe. They've attacked London and the UK economy for years. People wonder why the UK left.

The corrupt and dirty laundry money capital. How many countries are in poverty due to the flexible financial institutions in London ie: Nigeria and many more.

@arthas640

2 жыл бұрын

how does London influence Nigeria? Nigeria's main trading partners are China, the US, EU, and India and most of their financial trade is bound to be through the US. The Nigerien oil industry is primarily owned domestically and their main foreign companies are American, EU, and Shell accounts for a sizable amount but still only a minority and Shell is a Dutch and British company, not just British.

Why no mention of the loss of 10% of all London based assets to the EU, a total of £1.3trn?

@nathanlewis2815

2 жыл бұрын

You mean Euro clearing. Sod all to do with assets.

@neodym5809

2 жыл бұрын

@@nathanlewis2815 No, I don`t. EY: Migration of UK assets to Europe reaches almost £1.3trn 2. March 2021

@paulhank7967

2 жыл бұрын

@@neodym5809 If they were eu assets, they couldn't be described as UK assets.

@neodym5809

2 жыл бұрын

@@paulhank7967 Assets that were managed in the UK have been moved to the EU.

@paulhank7967

2 жыл бұрын

@@neodym5809 And what exactly are these assets?

Hi Josh! Because foundation of London's financial activities has been for long without challenge,it's been impacted by the Brexit least. Thanks.

@arthas640

2 жыл бұрын

Depends on what you mean by "challenged" since London has lost much of its dominance since the conquest of Hong Kong by China, the dominance of American markets, the rise of EU markets like EURONEXT, and the rise of other Asian markets like Singapore and Tokyo. There are also rising stock markets in the Middle East, Africa, and India which may also challenge Londons dominance, epseically since much of Londons transactions are either with or through the US or rely on trade in goods, stocks, or services in former colonies and the rise of EU markets could lead to less dominance in European trade

London is too important geographically and has too much old money in it to not be the world financial centre. Often time swapping places with NY but will always be the big dog. The city of london is also where the worlds wealthy go to offshore their money to avoid taxes.

@daxtynminn3415

2 жыл бұрын

New York > London

@jonc67uk

2 жыл бұрын

You'll learn. Isolation never pays.

@zeljkomikulicic4378

2 жыл бұрын

London doesn't have money. Have currency. It's big difference. And we just watch collapse of financial system based on fake money.

@tomjones7184

2 жыл бұрын

@@jonc67uk what isolation?

@Lando-kx6so

2 жыл бұрын

@@daxtynminn3415 London > New York

VisualPolitik: Thanks for your videos. However; you neglected the mention that the BRITONS ARE THE 'LORDS OF TIME". With 'Greenwich Mean Time" (GMT) London was open for business at some point of the day with Hong Kong/Asia and US/North America and Europe.

@BoycottChinaa

2 жыл бұрын

I have heard tell of your... Timelords.. one in particular

@agopiechand

2 жыл бұрын

@@BoycottChinaa ‘Who’s’ that ? ;-)

So more offshore businesses account and capital for Britain and more stock and bonds for London...looks like London will have more money than before although it won't be in ledger...

This would have more weight if the US didn't already force the British to forfeit the Suez Canal off mere financial sanctions. That dynamic hasn't really changed now, given the country is as import dependent as ever. Given the UK is even more isolated now than before, it's doubtful this holds should the government attract the ire of either the US or EU, god forbid both. And there's one topic that'd do that, not fully implementing the Northern Ireland Protocol, something the US, EU, and UK have *formally* agreed maintains the Good Friday Agreement. Just because the UK takes it for a grain of salt doesn't mean the US and Eu do, and the latter two's opinions are more relevant.

@naughtiusmaximus7103

2 жыл бұрын

@Bessie Hillum Not really relevant. Actually ruled over some of them back in the 60s but *still* backed down. Same could be said for its seat in the UN Security Council, NATO, etc. Was in them, still did not spare it from the wrath of the US led diplomatic/economic sanction threats, or really, just the US. Now that there wouldn't even be Western European support this time around (in fact they're more likely to retaliate first,) and we have a much more isolated UK.

@naughtiusmaximus7103

2 жыл бұрын

@Bessie Hillum You're making references to UK's links to the world as if they mattered. These links were more extensive back then and didn't matter at all in the face of US serious sanction threats. That dynamic hasn't changed. Gotten worse if anything as France and Western Europe were allies/sympathizers back then. They're the ones more likely to retaliate before the US this time around for any perceived breach of the GFA.

@naughtiusmaximus7103

2 жыл бұрын

@Bessie Hillum Britain had those kind of relationships in the 60s. Didn't matter. Same applies today. US is "declining" the same way the British Empire was "declining" in the mid 1800s. From setting off independently regardless of foreign concerns to being mired as first amongst equals in global politics. It still hasn't reached that point of irrelevance as 1930s Britain when coal became obsolete militarily, and won't be until oil (US dominance until the late 50s) goes the same way. Speaking of, US may be "declining" as mentioned, but that applies even more to Britain.

@naughtiusmaximus7103

2 жыл бұрын

@Bessie Hillum I'll find that the UK *had* everything you keep mentioning even as far back as the 60s. Greater grip of it if anything. Didn't matter one lick. Continued attempts to paint the US as a weakening power are laughable in comparison to Britain's stark relative decline. Since the 1880s with the early and extensive exploitation of oil in industry, the US has remained the #1 economy, whereas the UK has tumbled from #2 to #6.

@arthas640

2 жыл бұрын

I cant imagine the US doing much to really push the issue if the UK either selectively enforced, changed, or even completely abandoned the Northern Ireland Protocol. They both back each right or wrong and they maintain one of the closest ties of any 2 fully independent nations, which is especially unique since they're separated by thousands of miles of ocean. The only time the US really pushes the UK hard is when it's been to avoid large wars and the Northern Ireland Protocol would at worst spark another IRA style conflict and/or trade conflict with the EU. In the face of Chinese and Russian imperialist aggression the US would be more likely to ignore issues with the Northern Ireland Protocol then they would have even a few years ago since they need the UK's UN security council vote, military bases, position in NATO, military support, and trade more than ever.

"The City… …is made up of the 33 boroughs that make up Greater London" Uh... Bad edit? Script typo?

Does "everyone" refer to the media, the political class and celebrities? 🤣

I didn’t remember Bergamo being near the see ahahah lol. I think u got that wrong

Good info

i wonder how londons financial sector will be affected by block chain technoligy ?

@brandonemmanuel5032

Жыл бұрын

lmao

*Some smart people can be stupider then a kindergarten children.*

The real cut-off date for the British financial industry has still to come: 30th June 2025.

@lovelybitofbugle219

2 жыл бұрын

@Zuurker U how sad

@lovelybitofbugle219

2 жыл бұрын

@Zuurker U And why is an eu citizen so excited about Britain's finances? Seems a little odd. Do you think anyone in great Britain cares about your euro?

@lovelybitofbugle219

2 жыл бұрын

@Zuurker U so what's all the animosity for? Europe are happy we left. And as you rightly say if Scotland finally got their freedom, wouldn't that be amazing. And well, as for Ireland? yes that's long overdue. So brexit is great for everyone except the minority of British voters who didn't vote for it?

@lovelybitofbugle219

2 жыл бұрын

@Zuurker U ah I feel bad for you mate. Genuinely. Good luck bro.

@lovelybitofbugle219

2 жыл бұрын

@Zuurker UAnd brexits been great for me. I've made a fortune mate. And now because of brexit I could walk out of my job today and be re-employment by tomorrow. Not too shabby is it?

Talking about the City without ever uttering the words: "money laundrying" or "tax dodging" makes this clip less than informative.

@richardwills-woodward5340

2 жыл бұрын

Try Germany and France with China and Russia.

As a proud Londoner here, it seems like London is strengthening its most important, defining and pivotal position; which it is being the biggest money laundering hub in the world! Now... Even more and stronger than before! You sit and watch.

@deboraleggerini5729

2 жыл бұрын

@SoLBH Apparently the City had one of the most profitable years last year. You cannot compare the regulations between the UK and Europe.

The City is not made up of 33 boroughs !

"The companies have more votes than the people themselves. Pfft, we've had that in America for decades!

No surprise that some European money moved out. But Europe is not the world.

London city is a different ball game to the rest of the uk and London

The great fire, successive plagues and the Blitz couldn't destroy the City. Leaving the EU certainly won't.

@8.05 - if you meant for a photo of Bergamo in Italy, you have the wrong picture. 8.14 you have a picture of Edinburgh.

Bank “lending” is money creation. The Bank of England Q1 2014 Quarterly Bulletin tells us so. This private money creation system is not a force for good. The City of London is a state within a state. It is a Corporate State, as loved by Mussolini. It allows operations that are illegal in the USA. It services treasure island tax havens, not a force for good. It welcomes and services Russian oligarchs. It is the money laundering capital of the World. Is the London financial industry a force for good or ill?

@ihl0700677525

2 жыл бұрын

1. _"The City of London is a state within a state."_ Yea, so too Vatican. So what? 2. _"It is a Corporate State, as loved by Mussolini."_ Yea, and Mussolini loved Gandhi and Hollywood movie industry too. Do you think that made Gandhi and movie industry bad? Stalin loved western (cowboy) movies, that didn't make western movies bad. This "guilty by association" is just flat out stupid. 3. _"It allows operations that are illegal in the USA."_ There are things that are illegal in NY but legal in California, or in Texas. There are things that legal in the US but illegal in Saudi Arabia (e.g. Sharia law bans interest). What's your point? 4. _"It services treasure island tax havens, not a force for good.. Is the London financial industry a force for good or ill?"_ That depends on your ideology. For a Liberals and Libertarians, the city (or at least its governing principle, which practically is "laissez faire") is *good.* Tax haven is good when you believe the govt has no right to tax your income. We already pay property tax, and we already pay tax each time we spend our money. Why/how the govt claim a slice of our income, when it already tax the transaction itself? What's the justification for this double dip? 5. _"It welcomes and services Russian oligarchs. It is the money laundering capital of the World."_ Silly generalization. Criminals and dirty money exist in all and every financial market, I'm sure these oligarchs and mafia invest their money in NY, Shanghai, Amsterdam and Tokyo too, and also in their local/domestic market.

@ricardosmythe2548

2 жыл бұрын

The city of London is a force for making money as with any other business

The problem is over dependence on the value of the USD

@arthas640

2 жыл бұрын

That's a bit of a mixed bag, relying on the USD does tie your economy to the US but the USD is very stable and easy to trade in compared to other currencies and the US accounts for the UK's single largest trading partner and most of their financial transactions occur with or through NASDAQ and the New York Stock Exchange so even beyond politics and culture the 2 countries are extremely closely tied. Since few countries use Pounds Sterling to trade anymore or as a reserve currency while most use USD and since the UK relies so much on services and on the financial sector/trading that further incentivizes them to use either the Euro or the USD and the USD works better internationally while the Euro mainly just works for working with the EU, so the USD has more benefits then negatives compared to the Euro.

Love when Josh is the host

@o_s_byron2319

2 жыл бұрын

Yellow teeth guy is just hard to look at

@Hoo_hoo942

2 жыл бұрын

@@o_s_byron2319 nah

There remains a long time for this to play out - somewhat early to be claiming that its not as bad as was anticipated.

@fjellyo3261

2 жыл бұрын

Exactly. We will have a conclusion in 20 years.

It's a well known laundeing machine, as efficient as Liechtenstein or Hong Kong, able to do so with bigger amounts/monetary volume than the channel islands or the isle of Man. Nothing new. Something rotten in the city, and it's not the sewers.

Such beautiful footage of London and especially Canary Wharf!! I was taking screenshots all through the whole video :)

Whoa whoa whoa, The City of London, the 33 Boroughs of London and the square mile are not interchangeable 1:12 in and we are not off to a great start.

payment for order flow is bad, I feel bad for retail investors in London

Brexit voters: WE ARE THE BEST IN THE WORLD!!! People in the EU: YOURE GOING TO COLLAPSE AND ITS ALREADY STARTED!!! People who voted to stay in the EU: _insert dog with tea sitting in a room on fire_

@dennis771

2 жыл бұрын

Ehh bot really

@richardberton7386

2 жыл бұрын

FALSE BECAUSE EVEN IF I AM SORRY TO SAY IT PEOPLE OF THE EU DO NOT CARE

I like seeing your videos.. Do france and china 🇨🇳 🤔 👀

Somewhere John Major is watching this video like >:(

I don’t always like rushed videos on good subject matter for the sake of brevity. You then resort to speaking fast and cutting corners.

Hey boys. I Live in Bergamo and the image are NOT RELATED TO Bergamo!!!😬😬

I am working in the City of London and I can tell you this place is the most powerful city in the entire world.

The attire is all wrong Josh 👕😎🏝

Lloyds "of London" could be Lloyds of the EU very soon, they're bailing out of London

@sebastianbartlett4575

2 жыл бұрын

Then Lloyds will probably fail to be a global leader anymore, it needs London a lot more than London needs them.

@richardwills-woodward5340

2 жыл бұрын

No, they're not.

@arthas640

2 жыл бұрын

do you have any proof? The only things i could find were articles talking about how they might move out of their old office building, which has to do with COVID making the office space too expensive to be worth it and because they're thinking that they may just let more people work remotely even after COVID since presenteeism has become so minor in the last few years after COVID proved many jobs can be done just as well remotely and save people the high costs of expensive office space in city centers. Moving to the EU doesnt make much sense compared to simply relocating to a cheaper location in London.

I think this video should have been a bit longer. It lacks context for the average Joe. Otherwise very interesting subject and video.

people should understand that Britain is US and US is Britain stop telling us they are different. the Brexit is Washington Idea not brits idea we know

THE NEW TWO CAPITALs OF THE WORLD IS : ❤ LISBON🌞🌍 & ❤OPORTO 🌊 IN 👑💎 PORTUGAL💎🇵🇹 IT HAS ALL AND HAVE CHANCE TO BE EVEN MORE BETTER.

CANZUK 💪💪

Man. I really regret that we (Germany) left the United Kingdom.

@raitiC1

2 жыл бұрын

Don't worry! Owning the entire continent is still a great achievement!

@olsenfernandes3634

2 жыл бұрын

...You practically own the EU tho?

Sorry to say, but that statistic on UK exports of financial services is completely ridiculous. Why? Because the UK's provision of financial services to the EU countries are counted as exports. It is not at all a fair assessment of the situation, given that there are less regulatory barriers for the UK to provide financial services to other EU countries than there are hindrances to US firms providing financial services in another state. That is, to be legally fair one would need to count intra-state provision of financial services inside the US as 'exports'.

It’s the manufacturers etc who have been shafted by leave, as the Tories knew would happen. So yet CT again the provinces suffer and the city thrives.

companies voting with employee counts, so it's a plutocracy then

Eh. The City (or Square mile) is a tiny Council located in Central London - it is NOT London

Depends on which prophecy you are talking about. Mine was a 1% to 2% drop in trading but still a drop due to Brexit.

@richardwills-woodward5340

2 жыл бұрын

Yet London has pulled further away from the rest of the world with New York since Brexit. Lots of good news is going unreported.

Your description of the City of London was way off - you’ve conflated the terms City of London and Greater London

You obviously can't see the cracks in the wall

an infrastructure that has been built up in 50 years cannot be undone in a year or two, but give it time and it will go just as they said it would.

@canemcave

2 жыл бұрын

@Bessie Hillum I would think they actually migrated in several phases and particularly during the French revolution, the 2 world wars and following the entrance of the UK in the EU. Banks look for the safest and most stable location and there was no safer and most stable location than in the British Empire or the USA following the European wars. In fact, that's the reason the financial capital of the world as well as a very large portion of the world's gold reserve is in the USA

@canemcave

2 жыл бұрын

@Bessie Hillum "You cannot verify the gold in Fort Knox, nobody can, the USA hasn't ever audited the Federal Reserve" gibberish, nothing to do with the topic "which was not the case with their US holdings, so you tell me where the Banks are better represented." what I pointed out has nothing to do with where the banks are better represented. "The Banks will likely prefer to remain in their landlocked sanctuary to weather the storm that will come when things go too bad for the US market to recover from, they've no need to move, and it will likely remain so for as many hundreds of years as has already passed." nonsense, if I don't know how much gold there is in Fort Knox, you surely don't know the future

@canemcave

2 жыл бұрын

@Bessie Hillum "I think that you have exhausted yourself. You should go to bed." or perhaps is still too early for me.. What I see is that London is losing the share of the financial market they were holding, the fact that the banking system behaved correctly one time does not erase all the other when it didn't: 2008 rouge trading 2014 LIBOR 2012 2014 dark pool activities 2014 Forex rigging 2012 money laundering 2014 insurance mis-selling 2014 asset manipulation: FX ISDAfix Mortgages LIBOR Gold & Silver Payment Protection Insurance (PPI) Custody assets Shall we go on?? If you think that is a good reputation, we probably have different ideas of what good reputation means and Brexit and the narrative from the UK makes the UK look like a rouge financial entity outside international controls. This will not help its reputation.

@canemcave

2 жыл бұрын

@Bessie Hillum you dictate only hot air

@canemcave

2 жыл бұрын

@Bessie Hillum "Some 44% of UK-based financial services firms are moving or planning to move operations or staff to the EU (operations mainly to Dublin and Luxembourg and staff to Paris), EY found. Trading on London’s stock market also fell 40% at the start of 2021, with London not permitted to offer EU-listed shares to clients outside the UK. Amsterdam took advantage, overtaking London to become Europe’s biggest hub in terms of equity volumes, according to Cboe Global Markets."

Not a really good analysis, no mention of COVID slowing relocation, no mention that the only no 1 business of London is family asset management, no mention that the EU derivatives clearing has been extended to only 2025. While it might not yet be the destruction foretold, City is not in the clear...

London more like Londoff

It’s me or it feels like the video is unfinished ?!

Can we all appreciate the fact that this fella never disappointed us with his content. 🤗👏

i've heard a pretty significant deadline being 2025 as technically most of the transition away from the UK is still underway

@richardwills-woodward5340

2 жыл бұрын

Yet London has pulled further ahead of the rest and is making more money than ever before and see average salary rise to $75,000 - (Singapore is $73,000 so at the same level more or less). Large cities in Europe can only dream of that. That said, compared to London, there are no large cities in Western Europe!

saimon come back, this guy doesnt even know what shirt he is suposed to wear

Top 5 financial centres in world for 2021, in descending order - # 1 New York by a significant lead, #2 London, quickly followed by Shanghai, Hong Kong, Singapore. Within 5 years London will fall to between 3rd to 4th place.

@HaiLsKuNkY

2 жыл бұрын

according to trends that doesnt look likely, but we will see :)

@zel3888

2 жыл бұрын

By most measures London is ahead of New York and no sign of falling as indicated by this video. Get your facts straight.

@valenrn8657

2 жыл бұрын

Ireland's GDP is similar to Singapore's GDP. From GPAS__2021 pdf Pension (mandated nanny state savings) funds vs GDP ratio for 2021 Five Eyes/Five Passport Group, United States, $32,567 billion, 156.5% United Kingdom, $3,564 billion, 135.1% (near CPTPP member) Australia, $2,333 billion, 174.8% (CPTPP member) Canada, $3,080 billion, 192.5% (CPTPP member) (I don't have data for NZ) Notice the Five Eyes group has similar pension assets to GDP ratio results CANZUK group total: $8,977 billion estimate. EU Finland, $279 billion, 104.3% France, $166 billion, 6.5% Germany, $548 billion, 14.5% Italy, $231 billion, 12.5%

@Phnxh

2 жыл бұрын

"Quickly followed" Not true at all, Shanghai doesn't even rank top 5 as of September 24, 2021 And if you thought Brexit was bad, just look at the shackles Hong Kong has. Maybe Singapore will get a nice big boost as their main competition in the area has been given the death blow. London isn't going anywhere any time soon

@HaiLsKuNkY

2 жыл бұрын

@@finaLee69 the biggest bank in the UK is the Hong Kong Shanghai bank. London is a global hub

It is usually said that there are three world financial centres, the third one being Tokyo

@danghoangluong2942

2 жыл бұрын

or Hong Kong

@vulkanofnocturne

2 жыл бұрын

not Singapore?

@rohitroll2119

2 жыл бұрын

@@danghoangluong2942 Not anymore. CCP cucked HK

@hpsauce1078

2 жыл бұрын

Mmm Asia is yet to come to a conclusion on which of its main financial centers is THE financial center. For the Americas that's NYC, for Europe that's London, but Asia perhaps due to its huge size has Honk Kong, Tokyo, Singapore, Shanghai and even some other smaller centers jockeying for lower positions like Seoul, Beijing, Bangkok and Jakarta.

@DJTe3n

2 жыл бұрын

It's is Tokyo without question

Note that SF is the 5th top financial center and LA is the 7th. CA is the emerging financial giant.

You claim this is factual but within the first 2 minutes you got simple things wrong.

Later, AS you can watch by now

Financial Capital of the World: New York and London

@Cuman.m285

2 жыл бұрын

And Tokyo, and Shanghai in the future

Still waiting for that Biden or Putin or Xi graphic.... Kim has been fairly quiet...put the real players in the game

“dollars are traded 2.5x more in the UK than the US..” no shit Sherlock!! Otherwise Americans would be actively swapping dollars for dollars🥴

@Lords1997

2 жыл бұрын

Rather highlight on the actual issue of how the dollar maintains its supremacy as global currency reserve via foreign trade/etc. Or the inadvertence of allies propping up US/Western hegemony

@WildAboutCamping

2 жыл бұрын

We are talking capital markets here. If companies want to raise dollars they mainly come to London not New York. I think you're getting foreign exchange mixed up with capital markets.

Well it's happening I don't know what planet your on

Video started with Boris the animal

"We hold all the cards", a new episode. The City may remain a large financial center in 2025 but the long-term goal of the EU is to have all these services needed by the EU to be delivered by EU firms, complying to EU rules and laws and located in the EU.. Won't happen overnight but in 2 years time and preferably not in one location (country). Just watch and stop listening to your own arguments in an effort to convince yourself.

5:49 The video starts here

Seriously?! Oh god, Brexits 🇬🇧🇪🇺 always been a taboo topic! 😩🤬

Well this video didn't age well😅 (referring to the Gilt Crisis of October & November 2022)

Now UK is like a man who lost may bets and want to recover money by doing more bets. We all know what happens in the morning.lost all bets and even more extreme bets will start. There is no good outcome form this crazy bets.

The city is absolutely not made up of the 33 boroughs that make up Greater London, chiefly because there are only 32 boroughs. If you can’t get something this easily verifiable correct why the hell would I trust that you didn’t just invent the rest of the information in this video without bothering to check any of that too? 🤣🥴🤣🥴🤣🥴

@dbsk06

2 жыл бұрын

Agreed

USA always back LONDON. As long the good looking British people willing to sacrifice their good looking sons and daughters in proxy wars it will be one of the most powerful countryy in the world! London is a country!

nice to see a realistic review. Things happen and life moves on. UK has plenty of strengths.

@easy1355

8 ай бұрын

And £100 billion per year worse off, by fact. While our young can't live, work, retire in Europe without cost, bureaucracy or restriction. But then, it was stupid people who voted for it.

In a word , moneywashing

Dollar not backed by Gold......Paper Money

@landsea7332

Жыл бұрын

Nixon temporarily took the US dollar off the gold standard and ended the Breton Woods agreement . Almost every currency in the world today is a fiat currency . Its just a question of which central bank can print the money the fastest . .

Companies know the inefficiency of the EU. 27 states rarely pulling together

The video conveniently ignores the huge Russian money laundering through the City.

@kolerick

2 жыл бұрын

the day the US goes after the City of London as they did going after Switzerland, this will be costly for the banks there...

@richardwills-woodward5340

2 жыл бұрын

Try Germany - the most corrupt dirty money capital of Europe. Their China and Russia dependence is sickening.