Yes me with my 0 yahts 0 properties and 0 vechiles needed this video

@endeavor44

3 жыл бұрын

wait you zero vechilles??

@wesley5729

3 жыл бұрын

You could have them soon if you’re smart, make the right connections, grind away your 20s and 30s and get lucky. One could have all of these things within a lifetime!

@gabrieljolabero6168

3 жыл бұрын

Still better than nothing

@laykefindley6604

3 жыл бұрын

@@wesley5729 bahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahah.

@rooseveltbrentwood9654

3 жыл бұрын

With my system you can 100x all of those! Of course 0x100=0, so my system works!

Perfect timing! I was planning on becoming a billionaire next week! Thanks! :D

@themongolsarecoming_9437

4 жыл бұрын

Ya, me too. Coincidence! I don't think so.

@mrgod5139

3 жыл бұрын

are you a billionaire yet

@1x0x

3 жыл бұрын

yo same

@full-timepog6844

3 жыл бұрын

@@mrgod5139 yes

@jamesyes2844

3 жыл бұрын

@@mrgod5139 hes a billionaire in Zimbabwe

I remember an interview when a local scholar on global relationship spoke of why some states are independent and not absorbed into a larger unions He remarked That's because larger countries see benefits for leaving those small countries independent For example Malta launders money for Russia Monaco for France San Marino for Italy Lichtenstein for Germany...

@tafricanski

3 жыл бұрын

Switzerland for Germany, Italy, and France... BTW they do not launder money for the country. They launder money for corrupt politicians.

@mujtabaalam5907

3 жыл бұрын

And the US?

@rooseveltbrentwood9654

3 жыл бұрын

@@mujtabaalam5907 Panama? Cayman Islands? Just guessing though, The US only bordures two countries and they’re both quite large.

@mujtabaalam5907

3 жыл бұрын

@@rooseveltbrentwood9654 Good point

@rooseveltbrentwood9654

3 жыл бұрын

@@mujtabaalam5907 Thinking about it more, you could say Cuba used to fill that role until Castro took over. I believe it’s about 90 miles off the US coast.

My immediate thought when seeing this video recommended: Investment banks are basically casinos, so it makes sense that a casino can be an investment bank.

Here's how it works in the Art World: Step 1: John Doe is an art dealer. He persuades his friends Alice and Bob to buy works by an up and coming young artist, for $2 million each, on the understanding that they will be a good investment. Step 2: Over the next few years, John Doe uses his position to hype the artist. He hires people to write about the artist in academic journals, organises exhibitions, helps the artist to 'win' prizes, etc. Step 3: John Doe puts some of the artist's works into auctions, and bids the prices up with the help of friends. As he is ultimately buying from himself, the only cost is the auctioneer's commission. Step 4: Ten years later, Alice and Bob own works that are worth, on paper at least, $10 million. Step 5: In the meantime, Alice has just pulled off the real estate deal of a lifetime, and made a huge profit. Unfortunately, she now owes the IRS $10 million. Step 6: She decides to donate the painting to her local modern art museum. The trustees are happy to state it's value at $10 million. The IRS accepts the valuation and allows Alice to write of her $10 million tax bill. She is now a noted philanthropist, and she gets a wing of the museum named after her. Step 7: Bob, on the other hand, isn't doing so well. He needs cash quick, but he can't sell his painting on the open market - because it isn't worth very much without John Doe manipulating the price. Step 8: Bob goes to his bank and asks for a loan, using the painting as collateral. However, the bank wants an independent assessment of its value, so they ask a world expert on this particular artist - John Doe. John Doe confirms that, based on previous auction prices, it's worth $10 million. Step 9: The bank agrees to lend Bob 70% of the value - $7 million. Step 10: So Alice has saved herself $10 million in taxes from an initial outlay of $2 million. And Bob has gotten himself $7 million to play with from an initial outlay of $2 million. *DISCLAIMER: THIS IS FOR ENTERTAINMENT PURPOSES ONLY, AND DOES NOT CONSTITUTE MONEY LAUNDERING ADVICE. ALWAYS CONSULT A TOP NOTCH TEAM OF LAWYERS AND ACCOUNTING EXPERTS WHEN LOOKING TO LAUNDER MONEY PROFESSIONALLY*

@themongolsarecoming_9437

4 жыл бұрын

Wow man, now I know just what to do with the 100 million I have lying around.

@knockhello2604

4 жыл бұрын

how you know that

@yay-cat

4 жыл бұрын

I think I like the disclaimer even more than the explanation

@aykay1468

4 жыл бұрын

This type of laundering also causes the other artists who are genuinely trying to fail :/

@therearenoshortcuts9868

4 жыл бұрын

so in other words... it's basically value assessment fraud???

I work in a Financial Crimes unit of a financial services company and it feels so pointless. Most laundering is done through legal means and laws against it really just enrich middle-men like lawyers, accountants, and personal bankers. Seeing it first hand just makes me think most tax laws either need to be harmonized or just given up on because the only people paying tax are those with modest salaries. My firm has sooo many Caymans and Malta registered businesses that one would think those two countries have the worlds most advanced economies. It’s just so much nonsense.

@boterham7144

4 жыл бұрын

smimathy smable honest question, does that make you question what your doing trying to “fight crime”??

@vinczeszilard5155

4 жыл бұрын

I'm not a historian or anything per se..but..." I never saw Kings pay any tax...". Taxes were made and for the poor\middle class. They don't have the power to fight it or change it. The rich does. Surprise surprise, you get tax havens and companies paying less taxes (like Blizzard!) than the average man.

@neeneko

4 жыл бұрын

why do you think billionaires dump so much money into grassroots 'anti-globalist' and 'anti-new-world-order' groups. Average people are easily scared off world wide regulations that would never effect them, and they vote.

@TeastaCS

4 жыл бұрын

How does one go about getting a job like yours ?

@EconomicsExplained

4 жыл бұрын

Well keep up the good word, just remember there would be a lot more people getting away with a low worse if it wasn't for people like you.

it’s so miraculous how engaging these vids are with just stock footage

@KosstAmojan

3 жыл бұрын

That's why writing a video script can cost many times as much as producing the video itself.

@EconomicsExplained

2 жыл бұрын

Thanks mate!

Nothing makes me happier as I do my job making deliveries around town watching homeless people live under bridges knowing that the wealthy have figured out how to avoid contributing to society by avoiding taxes

@DaFuqMIWatching

3 жыл бұрын

Complex tax laws and high taxation brackets make a powerful combo that both allows for and disincentivizes paying taxes. Homeless people don’t get better off with higher taxation rates, you can look for LA for that.

@MultipliedByZero

3 жыл бұрын

I absolutely love seeing the stories about low-tier earners winning the lottery. They win $50M, and are broke within 5 years. What happens if you give a homeless person $40k? They'll spend it all within a month, then return to their sleeping bag in front of the Walgreens on Skid Row. And relying on your government to fix this "problem" is downright insane. When has any government program been completely successful, and stayed within the outlined budgets?

@themothman3726

2 жыл бұрын

@@MultipliedByZero I hate the lottery, I used to work at a gas station and I never took the time to learn anything about the lottery. Some customers would ask me why I didn't know anything about it, they weren't ever too happy when I'd tell them to there face "if you're bad with money now you'll be bad with money when you have 70 million dollars, winning the lottery will not improve your life".

@iamnickthegeek

2 жыл бұрын

Governments don't need to increase taxes nor get more taxes from billionaires to cure homelessness. They just need to trim spending in other areas and they'll have enough funds. Example: In the UK, the homeless charity Crisis estimates if the Government trimmed 5% of Trident spending (approx. £10 Billion) they could end homelessness in 10 years. Even if it cost double that, it would still be a tiny percentage of overall Government spending across all departments. Pressure Governments to do that first, then if you want extra welfare reforms THEN look to the 0.1%

@sjakie49

2 жыл бұрын

Its not that simple. See italy for example. Higher tax rates actually leads to lower total tax revenue. Also, about a third of the economy is informal, on which taxation is impossible, all due to the higher tax rates.

'If you ever want to buy a super yacht or politician....'😂 he gottem

@EconomicsExplained

4 жыл бұрын

Glad someone picked up on that :)

@shahdkhan4593

4 жыл бұрын

@@EconomicsExplained I was watching it on 2 times speed so I had to do a double take😂. But really love the videos keep up the amazing work👍

@thecanadiankiwibirb4512

4 жыл бұрын

Economics Explained What about: Buying a politician a yacht to buy the politician

@Septimus_ii

4 жыл бұрын

It's harder to take out a line of credit on a politician, but it's got just as much luxury value and sometimes provides a good financial return on investment

@ilikedota5

4 жыл бұрын

buying politicians are harder, buying votes on issues 1 at a time is more accurate. A rich firm doesn't say to politician x, vote on everything we like for money, rather they find a politician that largely agrees with them and gives them money to ensure loyalty and build relationships that way, a bit more mutual. Now if there is a certain emergency vote that they cannot use these more long-term strategy on, then they start bribing/mud-slinging attack ads instead since that's the one goal.

“China is home to more billionaires than any other country’s in the world” Zimbabwe: are we a joke to u?

@Hypnopotimus27

4 жыл бұрын

hahaha

@theprime3255

4 жыл бұрын

Oi don't let them know about us.

@subscribetomyyoutubechanne1543

4 жыл бұрын

It's US not China

@subscribetomyyoutubechanne1543

4 жыл бұрын

I mean I'm talking about billionaires in USD not Chinese currency ( I don't know what the heck it is called)

@chipskylark5500

4 жыл бұрын

@@subscribetomyyoutubechanne1543 yuan

You and your team are so good!! Thanks for the continuous stream or great content. I also enjoy the funny touches here and there "to buy things like a house, or a politician, .." 😂

This is the most informative KZread channel I've watched since Caspian Report. This video and the one on London's financial sector have given me massive insight. Thanks.

Watch an actual billionaire use his Patreon as a way to launder money.

@Otzkar

4 жыл бұрын

EE is said billionaire

@EconomicsExplained

4 жыл бұрын

SHHHH

@SandhillCrane42

4 жыл бұрын

When you zoom out from the neat post modern studio apartment of the creator it's a Taj Mahal.

@wallstreetzoomer

4 жыл бұрын

Wait that's actually possible? There's no limit on how much u can pay on Patreon?

@morganirosonna2871

4 жыл бұрын

@@wallstreetzoomer You might be able to set up multiple account and "donate."Even GoFund me etc can probably be used

"money laundering" *aggresively soaks bills with water and soap*

@patafanmarti2913

4 жыл бұрын

Canadian bills laughing in the distance

@RT710.

4 жыл бұрын

I once found $40 left in an atm. Yes I took it, but I also washed it when I got home because I don’t trust like that

@hamesjetfield0

4 жыл бұрын

You joke but my dad has started doing this lately for change he receives from grocers. Because of corona and all.

@ricecake1228

4 жыл бұрын

@@hamesjetfield0 scary but true.

@taiundoo8435

4 жыл бұрын

I think the word money laundering actually did come from people throwing crisp bills into washing machines in order to make them look worn and used.

Really great video. Very informative, well put together. Like all your videos! I can't say I fully understand it, but I certainly get the gist of it and have at least a foundation to learn more. This is the sort of stuff that can radicalise a person

Thank you for putting a smile on my face with your humor. Love your explanations. Have a great weekend!!

last time I was this early, Panama papers were making the headlines

@EconomicsExplained

4 жыл бұрын

savishra oh yeah haha remember those 😂

@ispty

3 жыл бұрын

@@EconomicsExplained make a video on them...could be great. congratulations for the good content

talks about money laundering show clips of Hong Kong me a Hongkonger: yep sounds about right

@idirhhrin8876

4 жыл бұрын

Same thing🖕🏾🤣🖕🏾

@carlosandleon

4 жыл бұрын

how's the protests going?

@caorusso4926

4 жыл бұрын

Keep making the protests. The world is with Hong Kong

@keatingsutherland392

4 жыл бұрын

hacker russo like morally it is but with like actual action it’s on its own sadly.

@chrisshiers9126

4 жыл бұрын

@@caorusso4926 No please dont. Yall gonna get Tiananmen Squared

Aside from part 2, the one u promised to do on how art can b used to store wealth, I request a video on how philanthropic organizations are used in economic crimes particularly money laundering and tax evasion

@mercelinageorge184

3 жыл бұрын

Has already been explained by a chap in the comments section hapo juu (up there) talking about tax evasion using Art.

Ah yes my diverse portfolio definitely needed this

So, basically, with money you don't win the game. You own the game. Imagine my shock.

@aurelioboi

4 жыл бұрын

ok pjw

@myselfyuvi

4 жыл бұрын

ok pjw

@kirillazarov6865

4 жыл бұрын

ok pjw

@SandhillCrane42

4 жыл бұрын

They just work a billion times smarter than an ordinary man, it takes talent to be a parasitic sleaze ball.

@kirillazarov6865

4 жыл бұрын

@@SandhillCrane42 You just had to ruin it, didn't you...

Make a video on China's belt and road initiative!

@vishalgiraddi5357

4 жыл бұрын

And covid-19's impact on it...

@saliyadineshkumara3638

4 жыл бұрын

From sri lanka. I am sure we will on the video.

@lm_b5080

4 жыл бұрын

he can do a whole series on that

@idirhhrin8876

4 жыл бұрын

No🤪🤪🤪

@noahpolicarpio1530

4 жыл бұрын

Yes please. Debt trap or not, it's interesting to see how it will affect the world economy.

Last time I was this early, coughing was still normal...

You forgot about the Philippines. I live there and an entire city here is being transformed into a gambler's paradise (like Vegas) so we can accommodate all the gamblers and tourists from China, Japan and S. Korea.

Thanks for teaching me, now all I need is a few billion dollars...

@MajesticDre

4 жыл бұрын

Ikr we already have the hard part out of the way

@gside772

4 жыл бұрын

🤣🤣🤣🤣

Last time I was this early money laundering was still done in a washing machine

@Gyujjtgbions

4 жыл бұрын

MrKallebas oh how the change times

@poepybrown2151

4 жыл бұрын

Well, the last time I did that with a ton of change, the neighbours called the police and whoops, mission failed.

@cosmikrelic4815

3 жыл бұрын

That was Norge right?

@Noba46688

3 жыл бұрын

@@Gyujjtgbions oh how the turn tables

An excellent script and first class delivery. Good stuff!

I'll just add that most of protective measures against money laundering today are reactive, not proactive. You would be surprised by how sloppy a bank can be in terms of doing due diligence.

Thanks for watching EE nation! ❤️ Found this video helpful in moving your billions around? If so, feel free to support the show on Patreon! 😎 See new videos early, participate in exclusive Q&As, and more! ➡️ www.patreon.com/EconomicsExplained

@themongolsarecoming_9437

4 жыл бұрын

I will be the annoying one in the chat but I will say it. I replied to you first. 1st

@captainmorgan9066

4 жыл бұрын

You said that one can exchange only equivalent of $50000 of Chinese currency to foreign currency a calendar year, but you said that $1 billion can be moved in 3 years this way. Maths doesn't seem to add up.

@Rovsau

4 жыл бұрын

Last time I was this early we used sea shells for bartering.

@jacobw703

4 жыл бұрын

So for the ELOC's, how are they paying their bills from the bank itself? I'm assuming if they get any dividends that contributes to it, but for larger bills do they just sell off shares?

@Somethingnewtoday2023

4 жыл бұрын

hey i have a query, so u told to pay a travel agent a 100 million for the casino chips, wont the IRS or any tax enforcement agency ask where did the money come from. and i know it is from illegal business. thank you in advance

I just realized Richie Rich's robot maid laundering money had whole different meaning.

@mvalthegamer2450

3 жыл бұрын

IRONA best maid

10:52 love how he slid that in😆

Now imagine that the security/asset appreciates more than interest rate on the ELOC. Awesome financial engineering.

@yrosan

4 жыл бұрын

If your investment doesn't even cover a 1% interest rate, you might as well stick you cash in a bunker.

@vampir753

3 жыл бұрын

This also shows that the "low interest rate because asset is so secure"-argument is bullshit. The bank could buy the asset themself for the same amount and would make more money from it.

@p2p104

2 жыл бұрын

@@vampir753 Bank does not want your house, or any other assets. Their assets are cash money services. Thats why many foreclosured houses were in bad condition after 2008.

@geroffmilan3328

2 жыл бұрын

@@vampir753 I think you just showed us that you... can't think. It's ok, yiu can go play, the adults are talking.

Thank you, I was wondering where to store my multi-billion dollar assets and Fortune 500 companies

Marty Byrde should watch this before season 4.

@muuubiee

4 жыл бұрын

This wasn't even really money laundering. I was hoping this video would explain something, but it didnt. The gist of it seem to be to fake how much money you make, by registering many more customers than there are, and so on. Then to get the money out you fake buy a lot of stuff from fake companies, and then you got your clean money. Casinos should make that much easier, and work much higher quantities.

@MrThogin

4 жыл бұрын

Good one

@mbabcock111

4 жыл бұрын

Wouldn't it be funny if this gets written into the script...?

Thank you for bringing to light the struggles of the poor poor billionaires with ill-gotten gains. Not enough attention paid to this issue. *Attempts to pull tongue back through cheek as it has pierced the skin at this point.*

Best video ever on this channel. Thank you so much for this.

Literally writing an assignment on AML procedures for lawyers. Thanks for reference, gonna cite you bro

Ok then, I'm going to be rich! "so say you are sitting on top of a vast fortune" SONOVA-

@tompeled6193

4 жыл бұрын

No he aprendido español hoy. ¿Qué pasará?

@duo496

4 жыл бұрын

Tom Peled me no speak deapacito

@tompeled6193

4 жыл бұрын

@@duo496 ¿Por qué no? Creí que usted mata los que no usé Duolingo por un día.

@EconomicsExplained

4 жыл бұрын

Aww :( don't worry you will get there.

@rigatonithetiger9986

4 жыл бұрын

Tom Peled Su familia ---> ☠️👻

I'm not interested in laundering money, but I have been looking at the possibility of getting a home equity line of credit. Thanks for this video, which helped put some things in perspective for me.

Nice video! More videos like this please, its really interesting, enjoyable and i can learn from you.

2:56 “cashed-up communists” is a phrase that would give Thatcher an aneurism.

@Yora21

4 жыл бұрын

And Marx.

@Gman290a

3 жыл бұрын

Some official in China just recently got caught with US$65,000,000... in cash....took all day & dozens & dozens of pallets to remove it from his house....

@alexalvarenga3482

3 жыл бұрын

GmanXRP lol kind of not doing your end of distributing the means of production over there, eh comrade?

@ferencmartinovic6267

3 жыл бұрын

Giving Thatcher an aneurism doesn't sound bad

@Gman290a

3 жыл бұрын

@@jasperbudiono295 I think this is part of the reason why China wants to go to a digital Yuan....

Modern, contemporary art (overpricing, and then donating for tax reduction, or getting a loan on it by a bank, effectively free money) Charity organizations and funds (inheritance tax evasion) Just to name 2 more example

“Buying a politician”😂😂

@GjaP_242

3 жыл бұрын

13:42

@riamriam6758

2 жыл бұрын

A few nice cars and some spending money aka a donation will have your greedy politicians pass anything your industry wants. It’s a bribe, and it works.

Nice video. I liked the sarcastic ‘earned’ at the end.... 🤣

HE SAID WAIT! THERES MORE 😂😭🙏🏾 12:09 This is the type of content I like🔥😂

Dude make a video on Taiwan's Economy

@attacheli9591

4 жыл бұрын

I think you ment *the legitimate goverment of China?

@prasadpawar7027

4 жыл бұрын

@@attacheli9591 There's only one government of China, the democratic one.

@jordanlaramore5430

4 жыл бұрын

He should round out the Asian Tigers!

@iamrmdp17

4 жыл бұрын

Taiwan a Rebel province. Haha

@alexanerose4820

4 жыл бұрын

@Attac Heli Funny last I checked they lost the war fair and square and don't control the mainland XD

Dude I love your videos and this is amazing, thank you!

Hi EE, I enjoyed this video so much I watched it twice now. I work in AML so particularly relevant to me. One question though, in this video you said it's part one of two part series, just wondering if/when part 2 is coming ? Thanks

This was one of the best videos by this channel

Great stuff, great stuff! I just ran into a couple of billion and was confused as to what to do with it. This will come in handy

"Honesty is incompatible with amassing a large fortune." -Mohandas Gandhi "Behind every great fortune there is a crime." -Honoré de Balzac "Money is the loot of all weasels." -Louis Rukeyser

@flightevolution8132

3 жыл бұрын

This is told to poor people to placate them. Money is not inherently evil, nor is the want to acquire it. You can absolutely make large amounts of money without doing anything illegal. It requires charisma, time, work and a heavy scoop of luck, but it's absolutely possible.

@fakof6231

2 жыл бұрын

This is utter bs. You become rich by solving a problem in a market not by being a criminal. How ever I bet it helps to finnagle taxes.

Amazing video! Great and useful knowledge very well explained!

This video series makes me regret not getting into economics before. I may have already asked this, but can you do a video on philanthropic organizations

I’m just gonna save this video. Just in case.

@godswillakpan1964

4 жыл бұрын

Just in case

@Raphael-tk3vg

2 жыл бұрын

Just in case.

@ProfessionalBabyEater

2 жыл бұрын

Just in case.

Mans did not hold back on throwing humongous amounts of shade at 10:52 💀

Sweet awesome I feo. I learned a lot from it.thank yiu. I live in Panama and basically is known as casino city .

The Jake Tran influence on this video is significant, can't wait for the two to collab soon!

I learnt how to launder money question is how to get Billion dollars

@largesoda1729

4 жыл бұрын

I got the billion dollars but how do you shake these cops off my tail

@rambi1072

3 жыл бұрын

How to get a billion dollars: open up a casino in Macau, apparently

@GeneralPuppet

3 жыл бұрын

@@largesoda1729 give em a few hundred thousand

Loved the cheer at the end for the info proving useful when we make our future fortunes. Kind of put things in perspective for me in a real hurry. As in, how far away I am from knowing how to be rich. ... I have to go work now:(

By the way, at this rate, one of these billionaires is gonna drop a 1000 stacks on this guy's Patreon for no reason.

ELOCs sound like a great hedge against inflation too: cash becomes pointless when you have enough credit, so let the plebes hold the bag (cash, that is) while central banks keep pumping up the supply and inflating the price of your assets. (Unless you're Buffet and can outsmart the market).

@JJs_playground

4 жыл бұрын

If cash is for plebes, why is buffet/Berkshire Hathaway hoarding $137Billion in cash?

@ofyhwh-0076

4 жыл бұрын

Jameel Ja I don’t think it’s cash money but digital money

@chrishale5213

4 жыл бұрын

@@JJs_playground so they LIQUIDITY to buy dear. They need to swiftly buy companies at a discount. A fire sell. That means they need be in position to do so without also negotiating a loan. Given Buffet helping bailout banks previously, he can't afford to depend on anyone bank to have the capital to leverage when he needs it most.

@chrishale5213

4 жыл бұрын

Also why the Fed and all associated financiers could care less about encouraging savings and holders. They want you leveraging that big fat credit line they got out to the banks. They want risk right now. Because of deflation.

@jackovoltraids5937

3 жыл бұрын

Is it me, or has the sequel to this video disappeared completely???

Greetings to all my fellow billionaires Imaginary ones of course

@subscribetomyyoutubechanne1543

4 жыл бұрын

Imma future one though

@Inhumane

4 жыл бұрын

Somanshu Kumar all the best to you future billionaire.

@chillaxo9863

4 жыл бұрын

Like your profile Manstein

@user-rw6xo9jc3n

4 жыл бұрын

that hit me in the ouef ;(

@Inhumane

4 жыл бұрын

King of Kings & Ruler of Rulers thank you

Hey EE, would you consider doing a video about how the economics of the power grid works? That's got to be some interesting dealings

Wow! Amazing explanation. I have learned alot from this video.

Ah Yes. As a Modern Global Billionaire™ (MGB™), I will now commit the Money Laundering™ (ML™). Thank you for knowing your audience, Economics Explained™ (E²)!

Make one on money laundering in skyscraper construction.

Interesting to see this now. My friends and i were doing similar things at the Aviation Club in Paris going back to early 2000’s, albeit on a MUCH smaller scale than what is mentioned here.

Awesome video. Nicely explained. Actually, most of our clients asking about ''moving money'' come from countries such as China, Russia, and Ukraine. There are many creative ways of how these things can be done safely.

It is great to see how the system has just enough loopholes for wealthy people to pay as little as possible in taxes and keep all of their fortune so they can buy bigger and more expensive boats and golden golf sticks.

I really liked this video. I would like more videos about how rich people shuffle money around and avoid taxes

love your channel man, thanks for the tips :-P

I have followed your work for some time. Excellent. Go Australia!!!

please do a video on the economy of Yugoslavia

Factual error, at least according to accounting rules in Australia. When a patron buys $100m chips, loses $1m and redeem $99m, the revenue for the casion is only $1m, not $100m.

@jacobstaton99

4 жыл бұрын

I think he may have been referring to turn over

@kefkapalazzo1

4 жыл бұрын

In America, the revenue is what you take in, so the revenue is $100 million, but the profit is $1 million

@JaydenTYX

2 жыл бұрын

You realised most of what he said was bit textbook rather than reality right

Very interesting! Where do you find these kollaz videos that you attach together?

11:08 Assets with lines of credit for monthly expenses is the way

Putting your time, effort and activities in things and ideas that will yield a profitable return in the future is what we should be aiming for!!

I've been informed that saying the $20 million spent on the painting of a slightly off vertical red line was really for any reason other than an eccentric taste for abstract art is a conspiracy theory.

waiting for part 2! banger video

I was wondering lately about where the wealthy actually keep their money, I thought it was likely in assets in offshore jurisdictions, thanks for the insights, Awesome video

I'm a temporarily embarrassed billionaire and I approve of these loopholes. My boss assures me that so long as I work at minimum wage and do several more hours of forced, unpaid overtime every day my ship will come in. My landlord is so nice as he assures me that the $100-above-market rent I pay will eventually go to replacing the heater, pipes and windows of my place. He told me he's working hard at the casino trying to multiple that money when he wins at the slot machines. My phone company is nice too. For only $50 a month they'll block collectors' calls from mid-night to 2am. I just have to repeat to myself "my ship will come in" because 40 years of trickle-down economics is bound to be a flood... right?

@jordanp8063

3 жыл бұрын

Yes. Fight the good fight and defend the mega wealthy's right to exploitation, bc one day soon you will be mega wealthy too

Video on Guatemala economy, please!

i have never hit that subscribe button so fast great video

This video was extremely interesting! In the video you mention that it is the first out of two parts, did you ever end up making the second part? I can't find it...

UK ranks 17th in forex reserves (about $172 billion) also 17th in gold reserve. But ranks 2nd in external debt with $8 trillion and their currency got slightly weaker post Brexit, also they have fallen in recession after covid19 outbreak. How can you say London is safest for investing. However in current scenario investing in east and south Asian countries like Vietnam or India will give more returns as companies fleeing from China to these countries post pandemic so their economy won't fall in recession

Me: watches this video The door:FBI Open up!

@cumhugs

4 жыл бұрын

Why are you gay

One of the best video ever made by EE.

We get Part 2 of this yet? Seen a few videos come out and excited to see part 2 ;) #FanOfYourChannel #PartTwoPorFavor

"the Cayman Islands are a territory of the City of London" no matter which City you're talking about, that doesnt sound right.

@Bigdeathy

4 жыл бұрын

cgp grey made a great video, where he describes the difference between the city of London and Westminster-London

@mateuszsmagacz8332

4 жыл бұрын

Then educate yourself, it's the biggest tax haven in Europe after all.

@davidmcfakename458

4 жыл бұрын

@@mateuszsmagacz8332 There's nothing to be educated on, as what you're trying to sell as a fact, is absolute bullshit.

@Kannot2023

4 жыл бұрын

Maybe City of London is the reason behind Brexit. EU wanted to limit money laundering

@mateuszsmagacz8332

4 жыл бұрын

@@davidmcfakename458 Oh yes, CiTy oF LoNdOn IsNT a TaX hAvEn geniuses are here. Mate I live 50 miles away from City of London and can confirm it has different laws to the rest of the UK and a different police force to the rest of London. Why don't you watch EE's video on City of London if you don't believe me? But useful idiots are always needed, if everyone knew about the London tax haven, there'd be a revolt overnight, the filthy rich bankers are reliant on our ignorance.

Everybody that saved this video: This will come in handy one day…

The intro is HILARIOUS :D

Very nice video. You just made it easy.

Tbh, i would either use an online charity, a fastfood restaurant or a car wash

@EconomicsExplained

4 жыл бұрын

Newby Ton oh yes this is good stuff WRITE THAT DOWN!!

@lghjsdtugfkgfjgtru

4 жыл бұрын

let them be a charity for cancer patients, a fried chicken fast food restaurant and the car wash from your previous employer

@certaindeath7776

4 жыл бұрын

housing. bring your money in the tax havens and from there buy all the housing the people need, and support parties, that are opposing to new construction of community housing.

@SadPeachCat

3 жыл бұрын

That's some 20th century method

Me: R$0,30 in bank account Also me: hummm a video about how to launder money...

Thanks for joining the dots. I had done some work for a Chinese boss big into aus property also with casino interests in Maccaw. Makes sense now.

This was really interesting! Thank you.

Growing inequality is a huge issue! We really need to return to taxing progressively and protecting the weak. Countries (Nordic/Scandinavian countries) with the lowest amount of wealth inequality also have the largest amount of millionaires/capita and the happiest populations and healthiest in the world.

@SlunkyBoi

4 жыл бұрын

Actually they have the lowest *income* inequalities. Their wealth inequalities are some of the highest in the world. Not a bad thing, but jus sayin.

"Buy a politician" lol 😅

I've watched a lot of your content as well as many other ... ; however I did take note, thank you.

@scharftalicous

3 жыл бұрын

And yes I hope this helps me move the fabled millions and I'm happy to pass on the favour when the chickens come home to roost. For this stage I can at least afford the subscribe. Thank you and your discovery over the last 6 months has been invaluable.

I needed this.... for reasons.