Comments by "Tony Wilson" (@tonywilson4713) on "" video.

  1. One thing they do is take out loans from foreign banks that they already own. Glencore (the mining company) bought a bank in Africa and then used loans from that bank to buy mines in Australia. The interest on those loans was at credit card rates (around 20%). The sort of rates no normal companies can sustain because they just eat up all the profits. On their accounting sheet those loans are business EXPENSES that LOWERS their taxable profit. Basically they skim away their profits to another company they own that's somewhere they pay almost no tax before moving that money to Switzerland. It was detailed on the front page of the Australian around 8-10 years ago. Tax avoidance money laundering isn't just an Australian issue its a worldwide issue. Patrick Boyle who does a financial channel just did a video on the Russian Kleptocrats.
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