For pc watch cinema Michael Oswald with John Christensen The Spider's Web: Britain's Second Empire
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The Spider's Web: Britain's Second Empire
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brief: The Spider's Web: Britain's Second Empire, is a documentary film that shows how Britain transformed from a colonial power into a global financial power. At the demise of empire, City of London financial interests created a web of offshore secrecy jurisdictions that captured wealth from across the globe and hid it behind obscure financial structures in a web of offshore islands. Today, up to half of global offshore wealth may be hidden in British offshore jurisdictions and Britain and its offshore jurisdictions are the largest global players in the world of international finance. How did this come about, and what impact does it have on the world today? This is what the Spider's Web sets out to investigate. With contributions from leading experts, academics, former insiders and campaigners for social justice, the use of stylized b-roll and archive footage, the Spider's Web reveals how in the world of international finance, corruption and secrecy have prevailed over regulation and transparency, and the UK is right at the heart of this.
Joel Benjamin, John Christensen.
Michael Oswald.
duration: 80minutes.
genre: Documentary.
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I'm rating this a 10/10 for it's importance to UK and very probably citizen's of all countries.
The film starts by illustrating how with many of Britian's colonies declaring independence in the post-WWII era, GB managed to retain it's control of these 'ex-colonies' by ensuring they retained sterling as their currencies. What I also learnt was the 'City of London' not to be confused with 'London' has an independent representative in the house of commons - the 'Remeberancer'
The documentary then shows how large banks and presumably other corporations were (are) able to store their assets in offshore trusts (which I understood have no legal oversight and a great degree of anonymity for the user. This relieves them of their obligation to pay tax. Even more suprising was that the head of HMRC was an ex-tax accountant recruited from the private sector to support the banks continued 'hiding' of their income from the tax payer!
As other reviewers have alluded to here - these structures are almost certainly much of the reason for this countries (i.e. UK) problems. Unfortunately, I'm not sure I see an immediate solution whilst the balance of power is so unfavourably skewed in respect of those controlling this enormous wealth.
Must watch.
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