Hot Money and the Politics of Debt
by 0 Naylor; R.T. Naylor; David Naylor & 0 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.
close this panelR.T. Naylor is professor, economics, McGill University, and the author of many books, including Economic Warfare: Sanctions, Embargo Busting, and Their Human Cost, and Bankers, Bagmen, and Bandits: Business and Politics in the Age of Greed.
close this panel"This book is terrific!" Clayton Ruby, The Globe and Mail
"[Naylor's book] is both entertaining and though-provoking ... He leaves no doubt that there is a lot of hot and dirty money around and that it would be harder to shuffle around without the banks." Washington Post Book Review
"Naylor outlines in convincing ... detail the controversial mechanisms by which international financial relations are conducted." MacLean's Magazine
close this panel
