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The Spider's Web: Britain's Second Empire

To differentiate theseEuromarket activities from their domestic banking activities, banks...

To differentiate these
Euromarket activities from their domestic banking activities, banks kept two sets of accounts

Full Transcript

00:00:01.000 --> 00:00:03.402
To differentiate these Euromarket activities
00:00:03.402 --> 00:00:05.967
from their domestic banking activities,
00:00:05.967 --> 00:00:08.634
banks kept two sets of accounts.
Duration
10 seconds
Views
23
Timestamp in Movie
00:05:42
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.
The Bank of England, the UK regulator, declared - The Spider's Web: Britain's Second Empire 00:08
The Bank of England, the UK regulator, declared
They were elsewhere, and therefore it had no responsibility - The Spider's Web: Britain's Second Empire 00:07
They were elsewhere, and therefore it had no responsibility
- It's about providing a legal space - The Spider's Web: Britain's Second Empire 00:09
- It's about providing a legal space
And the importance of that is - The Spider's Web: Britain's Second Empire 00:09
And the importance of that is
So you're taking activity from the place - The Spider's Web: Britain's Second Empire 00:09
So you're taking activity from the place
- [Narrator] When American banks realized - The Spider's Web: Britain's Second Empire 00:11
- [Narrator] When American banks realized
Around the same time as American banks - The Spider's Web: Britain's Second Empire 00:18
Around the same time as American banks
- Back in the '60s, - The Spider's Web: Britain's Second Empire 00:06
- Back in the '60s,
The stories go that the mosquitoes were so thick - The Spider's Web: Britain's Second Empire 00:09
The stories go that the mosquitoes were so thick
- [Narrator] Accountants and lawyers from London arrived - The Spider's Web: Britain's Second Empire 00:13
- [Narrator] Accountants and lawyers from London arrived
Because these jurisdictions' main selling point was secrecy, - The Spider's Web: Britain's Second Empire 00:09
Because these jurisdictions' main selling point was sec...
- What the Cayman Islands was doing - The Spider's Web: Britain's Second Empire 00:06
- What the Cayman Islands was doing
Drug money was coming in, in huge quantities, tax evasion. - The Spider's Web: Britain's Second Empire 00:06
Drug money was coming in, in huge quantities, tax evasion.
Whatever you wanted, you could have it. - The Spider's Web: Britain's Second Empire 00:05
Whatever you wanted, you could have it.
- [Narrator] The Bank of England was observing - The Spider's Web: Britain's Second Empire 00:25
- [Narrator] The Bank of England was observing
"There is of course no objection - The Spider's Web: Britain's Second Empire 00:16
"There is of course no objection
- These small territories, - The Spider's Web: Britain's Second Empire 00:10
- These small territories,
Seven of them are bonafide a tax haven, - The Spider's Web: Britain's Second Empire 00:09
Seven of them are bonafide a tax haven,
Some of the biggest tax havens - The Spider's Web: Britain's Second Empire 00:06
Some of the biggest tax havens
- [Narrator] With access to large amounts of offshore money, - The Spider's Web: Britain's Second Empire 00:08
- [Narrator] With access to large amounts of offshore money,