Hot Money and the Politics of Debt

by R.T. Naylor

A ball of hot money rolls around the world. It seeks anonymity and political refuge. It dodges taxes and sidesteps currency controls. It rolls through offshore shell companies and secret bank accounts, phoney charities and fraudulent religious foundations. It is kept rolling by white-collar criminals, gun-runners, drug dealers, insurgent groups, scam artists, tax evaders, gold and gem smugglers, and, not least, secret service agents plotting coups and financing revolutions. R.T. Naylor explains the origins of this pool of hot and homeless money, its origins, its uses and abuses, how the world of high finance, corporate and governmental, became hostage to it, and the price the world is paying and will continue to pay until the hostages are released. This book was one of the first, and remains the most comprehensive, to dissect the world of offshore finance, capital flight, money laundering, and tax evasion. Once a subject of concern principally to tax authorities and finance ministries, since the September 11, 2001 hot and homeless money has now become a central preoccupation for police forces and intelligence services around the world.

Genres: Economics, Nonfiction, Finance, History, Conspiracy Theories, Crime

480 pages, Paperback

First published February 28, 1987

Reviews

[Tommy · Rating 5 out of 5]

Covers the rise of the Eurodollar market and its role in undermining states ability to manage their own economies, the 1970s oil crisis, the development of offshore tax havens, the actors behind the 1980s debt crises in Poland, Mexico, Turkey, Argentina and behind all this international drug trafficking and other criminal elements that makes any distinction drawn between business/politics/crime seem largly artificial.

Some names covered in here are: Meyer Lansky, Mitch WerBell, Ivan Boesky, Dennis Levine, Robert Vesco, Bernie Cornfeld, Michele Sindona, Nessim Gaon, Aldo Bonassoli, Comte Allain de Villegas, Jean Violet, Donald Rewald, and more

[Andrew Gillette · Rating 5 out of 5]

This book details the history of black markets that are transparent to real markets. For example how does the US illicit drug trade impact Wallstreet liquidity; or what is the practical function of the world bank and IMF as they relate to impoverished developing countries? If these fringe questions concern you, then you should read this book because it is very well documented in a scholarly fashion.

[Joel · Rating 5 out of 5]

Hot Money is an important book, especially for those interested in the flow of flight capital and its impact on the global economy. However, this book is not for beginners like me. It was quite challenging to understand at times, and I found it difficult to piece together how certain financial actions influence the broader system. The book is dense and packed with detailed information and complex economic jargon which can be overwhelming. I definitely need to brush up on my macroeconomics and come back to this book at some point. Despite this, it’s an eye-opening read, highly recommended.