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Britain realized that it too could support the value
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The Spider's Web: Britain's Second Empire

Britain realized that ittoo could support the value of its currency by openingits domestic...

Britain realized that it
too could support the value of its currency by opening
its domestic markets to the trillions of dollars passing through its offshore havens

Full Transcript

00:00:01.000 --> 00:00:03.583
Britain realized that it too could support the value
00:00:03.583 --> 00:00:06.431
of its currency by opening its domestic markets
00:00:06.431 --> 00:00:08.141
to the trillions of dollars passing
00:00:08.141 --> 00:00:10.811
through its offshore havens.
Duration
12 seconds
Views
17
Timestamp in Movie
00:41:09
Uploaded
Oct 30, 2025
Genres
documentary
Production
N/A

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Movie Summary

How Britain transformed from an imperial power to a financial power.
But just as in the United States, - The Spider's Web: Britain's Second Empire 00:07
But just as in the United States,
- The British banks today, just as in the 19th century, - The Spider's Web: Britain's Second Empire 00:09
- The British banks today, just as in the 19th century,
They put their money into real estate speculation, - The Spider's Web: Britain's Second Empire 00:09
They put their money into real estate speculation,
So the financialization - The Spider's Web: Britain's Second Empire 00:26
So the financialization
- [Narrator] With the silent backing of the United States, - The Spider's Web: Britain's Second Empire 00:08
- [Narrator] With the silent backing of the United States,
And before long, the offshore system developed - The Spider's Web: Britain's Second Empire 00:09
And before long, the offshore system developed
Few were aware how this market functioned. - The Spider's Web: Britain's Second Empire 00:06
Few were aware how this market functioned.
In 1986, economist John Christensen - The Spider's Web: Britain's Second Empire 00:08
In 1986, economist John Christensen
He applied for a position at the Jersey office - The Spider's Web: Britain's Second Empire 00:07
He applied for a position at the Jersey office
- At Deloitte Touche, I was working - The Spider's Web: Britain's Second Empire 00:09
- At Deloitte Touche, I was working
I went offshore specifically to work in that area, - The Spider's Web: Britain's Second Empire 00:12
I went offshore specifically to work in that area,
That way, I could see, from working - The Spider's Web: Britain's Second Empire 00:11
That way, I could see, from working
I had complete access to all the client files. - The Spider's Web: Britain's Second Empire 00:06
I had complete access to all the client files.
And over the course of my period of working - The Spider's Web: Britain's Second Empire 00:13
And over the course of my period of working
There was some insider traders, some market rigging, - The Spider's Web: Britain's Second Empire 00:17
There was some insider traders, some market rigging,
This is what the clients were doing. - The Spider's Web: Britain's Second Empire 00:05
This is what the clients were doing.
(solemn music) - The Spider's Web: Britain's Second Empire 00:13
(solemn music)
They were all involved in some kind of tax dodging or worse. - The Spider's Web: Britain's Second Empire 00:06
They were all involved in some kind of tax dodging or worse.
- I met with Carl Levin, who used to be my senator. - The Spider's Web: Britain's Second Empire 00:07
- I met with Carl Levin, who used to be my senator.
And he made a lot of inquiries into private banking, - The Spider's Web: Britain's Second Empire 00:09
And he made a lot of inquiries into private banking,