Nobody Owns Money

Chapter 14. The Sanctions Laundromat

Part IV. Extortionists and States6 min

14

The Sanctions Laundromat

The glass skyscrapers of Moscow City seen from below, clouds reflected in the windows.archive
The Federation Tower in Moscow City. Garantex was registered in Estonia and worked from here. Source: Gennady Grachev from Moscow, Russia, CC BY 2.0

When a country is cut off from the world’s money, money starts looking for detours, like water when its channel is dammed. First people travel these detours, then companies, then the state, and within a couple of years all three streams are flowing through the same pipes, which were laid for entirely different cargo.

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The Sanctions Laundromat — Nobody Owns Money | Mike Fluff