Tom Burgis > Quotes

“turn yourself into a corporation: one of the most powerful fictions in which Westerners chose to believe, endowed with privileges and protections, and yet blissfully easy to create.”
― Tom Burgis, Kleptopia: How Dirty Money is Conquering the World

“The Congolese are consistently rated as the planet’s poorest people, significantly worse off than other destitute Africans. In the decade from 2000, the Congolese were the only nationality whose gross domestic product per capita, a rough measure of average incomes, was less than a dollar a day.”
― Tom Burgis, The Looting Machine: Warlords, Oligarchs, Corporations, Smugglers, and the Theft of Africa's Wealth

“But often front companies’ ultimate owners are concealed behind layers of corporate secrecy. One reason why foreign resources companies conduct what is known as ‘due diligence’ before embarking on investments abroad is to seek to establish who really owns their local partners.”
― Tom Burgis, The Looting Machine: Warlords, Tycoons, Smugglers and the Systematic Theft of Africa’s Wealth

“When the past threatens to ambush you in the present, change the past.”
― Tom Burgis, Kleptopia: How Dirty Money is Conquering the World

“Sometimes, though, they are merely front companies whose owners are the very officials who influence or control the granting of rights to oil and mining prospects and who are seeking to turn that influence into a share of the profits.”
― Tom Burgis, The Looting Machine: Warlords, Tycoons, Smugglers and the Systematic Theft of Africa’s Wealth

“The International Monetary Fund defines a “resource-rich” country—a country that is at risk of succumbing to the resource curse—as one that depends on natural resources for more than a quarter of its exports. At least twenty African countries fall into this category.12 Resources account for 11 percent of European exports, 12 percent of Asia’s, 15 percent of North America’s, 42 percent of Latin America’s, and 66 percent of Africa’s—slightly more than in the former Soviet states and slightly less than the Middle East.”
― Tom Burgis, The Looting Machine: Warlords, Oligarchs, Corporations, Smugglers, and the Theft of Africa's Wealth

“Adjusting the public record in the West was certainly more complicated than it was at home, and vastly more expensive. Tony Blair guarded the financial details of his consultancy work as jealously as Nazarbayev guarded the details of his kickbacks, but the three-term prime minister’s services were said to cost Kazakhstan $13 million a year. Blair understood when to use light, when darkness. Back in 2006, investigators from the Serious Fraud Office chasing down bribery related to the sale of British fighter jets to Saudi Arabia had tried to inspect the middlemen’s Swiss accounts. The House of Saud had sent word that such interference in their affairs would cause them to cancel the next multibillion-dollar batch of planes from BAE Systems, formerly British Aerospace. Blair’s government halted the SFO investigation, on the grounds of Saudi Arabia’s invaluable assistance in heading off attacks by adherents of the jihadism the kingdom itself sponsored. For Sir Dick Evans, a lifelong arms dealer who had risen to the chairmanship of BAE and been questioned by the SFO’s bribery investigators as they homed in on their targets, this represented a bullet dodged at the last second. His next profitable course would lead to Kazakhstan, to set up an airline, Astana Air.”
― Tom Burgis, Kleptopia How Dirty Money is Conquering the World & The Looting Machine By Tom Burgis 2 Books Collection Set

“Nazarbayev found that he and his regime had a certain chemistry with figures from Blair’s strand of Western politics: the Third Way. It was a system that purported to wed the humanity of the left to the dynamism of the markets. Its proponents possessed, as Tony Judt put it following Blair’s election, ‘blissful confidence in the dismantling of centralised public services and social safety nets’. They felt themselves to be part of a new, transnational elite that would harness the miracles of globalisation. Peter Mandelson, Blair’s strategist, announced the end of the left’s anxieties about the hoarding of wealth. ‘We are intensely relaxed about people getting filthy rich,’ he said. (He added, ‘as long as they pay their taxes’, though the caveat was often forgotten, perhaps because they did not.)”
― Tom Burgis, Kleptopia: How Dirty Money is Conquering the World

“American revolutionaries declared that there would be no taxation without representation. The inverse is also true: without taxation, there is no representation. Not being funded by the people, the rulers of resource states are not beholden to them.”
― Tom Burgis, The Looting Machine: Warlords, Tycoons, Smugglers and the Systematic Theft of Africa’s Wealth

“Where once treaties signed at gunpoint dispossessed Africa’s inhabitants of their land, gold and diamonds, today phalanxes of lawyers representing oil and mineral companies with annual revenues in the hundreds of billions of dollars impose miserly terms on African governments and employ tax dodges to bleed profit from destitute nations.”
― Tom Burgis, The Looting Machine: Warlords, Tycoons, Smugglers and the Systematic Theft of Africa’s Wealth

“Survival means capturing that pot of rent. Often it means others must die. The”
― Tom Burgis, The Looting Machine: Warlords, Tycoons, Smugglers and the Systematic Theft of Africa’s Wealth

“Nazarbayev had learned that Westerners could be just as adept as he was in turning money into power and power back into money. Some, like Dick Evans and Jonathan Aitken, went about it from positions at the top of business and government. Others had to wait until they had left office to monetise their access and influence. They had to get theirs from what they called ‘consultancy’. Blair was said to have made $1 million from Ivan Glasenberg’s Glencore for three hours spent talking the Qatari prime minister out of blocking its merger with a mining company. JP Morgan, the Wall Street bank that had won the financial crisis, retained him too, as did a Swiss insurance company, the government of Kuwait and Abu Dhabi’s investment fund. Some days he was a business consultant, others a philanthropist, or a governance guru, or a peacemaker. His money sat in a web of companies that almost rivalled the complexity and opacity Nazarbayev’s Swiss bankers had devised. By one estimate, less than a decade after he resigned as prime minister, his fortune stood at $90 million.”
― Tom Burgis, Kleptopia: How Dirty Money is Conquering the World

“From Russia’s oil-fired oligarchs to the conquistadores who plundered Latin America’s silver and gold centuries ago, resource rents concentrate wealth and power in the hands of the few. They”
― Tom Burgis, The Looting Machine: Warlords, Tycoons, Smugglers and the Systematic Theft of Africa’s Wealth

“After long years tolerating tax evasion by their fellow members of the ruling class, the political leaders of the big Western economies had been forced by the cost of the bank bailouts, the subsequent recession and increasingly widespread hostility to cuts in public services to go after those missing tax revenues. Hence the Americans' pursuit of UBS, Credit Suisse, BSI and the rest. But the City was in a different position. It was not the UK Treasury that the City's clients were primarily cheating. It was everyone else's. And there was one more fact, so huge and so obvious that everyone ignored it the way only problems of such magnitude could be ignored. Tax evasion deprived governments of revenue. Money laundering was the other side of the same coin. Like tax dodging, it was a subversion of money's role as a token of reciprocal altruism that allowed large and diverse societies to function. But while tax evasion sucked money out, money laundering pumped money in. If you could stop yourself thinking about its origins, those inflows of dirty money from around the world were just another source of investment into otherwise declining economies.”
― Tom Burgis, Kleptopia How Dirty Money is Conquering the World & The Looting Machine By Tom Burgis 2 Books Collection Set

“It was to Blair that Nazarbayev turned for counsel at this delicate moment. The information blackout on Zhanaozen had been insufficient to prevent the basic details leaking out. It was as though someone had spoken aloud a forbidden truth: for the kleptocrat, ruling by licensing theft rather than seeking consent, money can achieve most of what needs to be done. For everything else, there is violence. And so, as he arrived in Cambridge, Mecca of the rational, to deliver his speech, Nazarbayev resolved to follow Blair’s advice. For these Westerners, anxious after years of war and terrorism and, lately, the financial crisis, he would be the bringer of stability to a troubled world.”
― Tom Burgis, Kleptopia: How Dirty Money is Conquering the World

“BSI’s London office lay equidistant from the Bank of England and St Paul’s, bang in the centre of the City of London, the aorta of the global financial system. The unremarkable building stood on Cheapside, the City thoroughfare laid down by the Romans, where medieval merchants sold sheep’s feet and eels. The Stocks Market at its east end became known for the appalling stench of rotting fare. Around the corner was the Lord Mayor’s residence, the Mansion House. There Tony Blair had leavened a speech about unjust global trade with a reaffirmation that the City ‘creates much of the wealth on which this British nation depends’.

From the start, the Swiss financiers who created Banco della Svizzera Italiana, or Swiss-Italian Bank, saw their task as helping money cross national borders. Construction of what was then the world’s longest tunnel, through the St Gotthard massif in the Alps, was under way. It would carry a railway to connect northern and southern Europe. When the work was completed, the Swiss president declared that ‘the world market is open’. The Italian-speaking Swiss city of Lugano lay on the new railway’s route. It was there that BSI’s founders opened a bank in 1873, to capitalise on the new trade route. They did well, expanding in Switzerland and sending bankers abroad. The bank came through one world war. In the second, BSI’s bankers did what many Swiss bankers did: they collaborated with the Nazis. At the same time, they did what they would start to do for their rich clients: they spun a story that reversed the truth. As Swiss bankers and their apologists told the tale, the reason that Switzerland made it a crime to violate bank secrecy was to help persecuted Jews protect their savings. In fact, the law was first drafted in 1932, the year before Hitler came to power. The impetus came not from altruism but self-interest. It was the Great Depression. Governments badly needed to collect taxes.”
― Tom Burgis, Kleptopia: How Dirty Money is Conquering the World

“In 2010 fuel and mineral exports from Africa were worth $333 billion, more than seven times the value of the aid that went in the opposite direction (and”
― Tom Burgis, The Looting Machine: Warlords, Tycoons, Smugglers and the Systematic Theft of Africa’s Wealth

“what is happening in Africa’s resource states is systematic looting. Like its victims, its beneficiaries have names. The plunder of southern Africa began in the nineteenth century, when expeditions of frontiersmen, imperial envoys, miners, merchants and mercenaries pushed from the coast into the interior, their appetite for mineral riches whetted by the diamonds and gold around the outpost they had founded at Johannesburg. Along”
― Tom Burgis, The Looting Machine: Warlords, Tycoons, Smugglers and the Systematic Theft of Africa’s Wealth

“The perceptive in the City could see that their long run of ever more perfect freedom, beginning with Margaret Thatcher’s big bang and advancing, to their pleasant surprise, under Tony Blair’s New Labour, was facing a prolonged interruption when the masses worked out that they had been left with the bill for the incipient crisis. The new moneymen of the former Soviet Union shared with the libertarians of the City a loathing for the state. They had done splendid business together, the industrial triumphs of the proletariat laid out in lavish stock market prospectuses.”
― Tom Burgis

“To pursue its missing billions, BTA retained Trefor Williams’ private intelligence company Diligence, Portland, a PR consultancy founded by Tony Blair’s old media strategist Tim Allan, and a firm of the finest London lawyers, Hogan Lovells, where the flinty and brilliant partner Chris Hardman took up the case.”
― Tom Burgis