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Billionaires

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Billionaires

It is claimed that London has more billionaires than any other city in the world, no idea if that is true or not but it has a good number.
Is it to the advantage or disadvantage of the country to have a large number of billionaires living here ?
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Re: Billionaires

I wonder if that's 'living here' or 'have a residential address here' Wink
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Re: Billionaires

Well, I'm not one of them Cry

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Re: Billionaires

A very mixed bunch. Some of them do live here but not all of them.  Many run companies that provide employment to others. Some are philanthropists and others their wealth is inherited.
The full list was in yesterday's Sunday Times.
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Re: Billionaires

Quote from: gleneagles
It is claimed that London has more billionaires than any other city in the world, no idea if that is true or not but it has a good number.
Is it to the advantage or disadvantage of the country to have a large number of billionaires living here ?

my view is its a disadvantage due to the influence they have.
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Re: Billionaires

I doubt that if - and this only an assumption - they are mostly foreigners (Russian Oligarchs, Saudi Royals, French ex Pats, etc,)
nanotm
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Re: Billionaires

they have the money to buy the influence if they don't already have to external political ability to exert it......

it can be both and in many circumstances it sadly is the latter (worse) when it shouldn't be, unfortunately they often use middlemen to do the dirty work for them and its hard to track back the cash to whence it came (if on the odd occasion there's even a will to do so) which can and does give them cart blanche to do as they please and if there found to be breaking some law or other then they stall there case until such time as the law is amended so that there not guilty of whatever it was in the first place ....

and that's without getting into the problems of them buying up properties for ridiculous amounts of money driving up prices so there unaffordable to others or indeed buying up large numbers of properties and artificially squeezing the housing market (which super inflates there prices) then renting them out at way over the top amounts forcing normal people out of the area ....
just because your paranoid doesn't mean they aren't out to get you
Thunderclap
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Re: Billionaires

London is the top destination for Billionaires because...
It's safe - Banks in the UK are always bailed out so money is safer than the gold bars they needed in the old country
It's safe - They can buy fast track British Citizenship
It's safe - They can buy British newspapers and the local football team
It's safe - They don't have to prove money laundering : that's only for ordinary people
It's safe - Security services protect billionares from the security services the billionares are on the run from
It's safe - Davecam thinks Billionaires make growth and jobs, in the North
It's safe - The only tax actually paid is band F Council tax
It's safe - There's so many other billionares inside the London Congestion Zone, it's unlikely they'd meet a poor old millionaire
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Re: Billionaires

Give it a few more years and anyone owning a home in London will be a billionaire.
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Re: Billionaires

And some will be property rich but cash poor !
dick:quote
Midnight_Caller
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Re: Billionaires

Quote from: billnotben
Give it a few more years and anyone owning a home in London will be a billionaire.

Nop give it a few more years and anyone owning a home in London will be a trillionaire.
nanotm
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Re: Billionaires

not unless they go back to Russia and print themselves more money ....
just because your paranoid doesn't mean they aren't out to get you
Thunderclap
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Re: Billionaires

... or go back to Russia and

  • give themselves more shares in a state owned monopoly

  • increase the price of gas to Germany

  • build another winter olympic resort

  • get a tax rebate on taxes never paid

  • buy all of the public owned assets in Crimea for a dollar


nanotm
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Re: Billionaires

its an odd thing but most of the "state owned monopolies" are actually in private hands as they were "rescued" when the cold war ended and the Russian economy collapsed, basically whoever was a district guvnor or a military installation commander stole control of the company and nobody said or did anything to stop them becoming the defacto owners .....

one such "oligarch" was a former KGB colonel who was in charge of what became Gazprom and during the 2 year period where there was no state funding for anything exerted control via his troops and "privatised" the company that he later sold to a cabal of money printers in the politburo before escaping the new federation with all that previously non existent cash which he used to purchase a football club and a bunch of other "interests" leaving himself with a few billion in cash......
pretty much everyone who was a senior figure in the old regime did something similar and squirrelled away all the funds in foreign bank accounts, yet somehow in a 5 year period the largest most bankrupt county in the world which had resorted to using USD as an interim currency had managed to reissue on a 10>1 basis (old for new) its newly regulated economy that should of had 90% less currency magically had 1000 times more of it despite nothing changing in terms of the economic value, in fact it was still struggling with the throws of recession when the great banking collapse happened, and somehow Russia bounced back with hundreds of billions greater wealth than before and still not enough jobs to go round ......

some very odd things and when it all gets reviewed it will become apparent that thy were literally adding zeros to bank accounts based on expected net worth rather than actual product worth .....
just because your paranoid doesn't mean they aren't out to get you
Thunderclap
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Re: Billionaires

That's very true. The question is not how did complete nobodies become billionaires in a derelict economy, or even how did these gangsters get away with pocketing an empire's wealth, but why are our democratic leaders so eager to be hugging an oligark? The nation is a biword for cowboy capatalism.
Quote from: nanotm
some very odd things and when it all gets reviewed it will become apparent that thy were literally adding zeros to bank accounts based on expected net worth rather than actual product worth .....

Maybe they pioneered quantitve easing? But instead of stuffing the bank's balance with new money, they stuffed their own bank balance?
I should add to my list up there, stamp more Bit Coins.