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The Real Goldfinger: The London Banker Who Broke the World
Article

The Real Goldfinger: The London Banker Who Broke the World

The Guardian, 2018

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Editorial Rating

8

Qualities

  • Controversial
  • Eye Opening
  • Background

Recommendation

In the legendary 1964 James Bond movie Goldfinger, 007 goes after a business mogul who has devised an elaborate scheme to smuggle gold bullion out of Britain. For writer Oliver Bullough the plot illustrates how 1960s City of London financiers manipulated and eventually destroyed the post-World War II economic order. To learn more about the real-world consequences of their actions, getAbstract recommends you read Bullough’s highly entertaining essay.

Take-Aways

  • In 2017, 42 individuals worldwide owned as much wealth as the poorest half of the global population.
  • Extreme wealth concentration is a consequence of the collapse of the post-World War II monetary system of fixed exchange rates and restricted cross-border money flows. 
  • In 1962, a group of London financiers started issuing eurobonds that enabled Europeans to earn interest abroad while avoiding taxation.

About the Author

Oliver Bullough is the author of Moneyland: Why Thieves and Crooks Now Rule the World and How to Take It Back.


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