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Trusts emerged, the legend has it, from the time
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The Spider's Web: Britain's Second Empire

Trusts emerged, the legendhas it, from the time of the Crusades, when theknights would go...

Trusts emerged, the legend
has it, from the time of the Crusades, when the
knights would go off and fight in foreign lands, and they
would leave their assets in the care of trusted stewards

Full Transcript

00:00:01.000 --> 00:00:03.079
Trusts emerged, the legend has it, from the time
00:00:03.079 --> 00:00:06.012
of the Crusades, when the knights would go off and fight
00:00:06.012 --> 00:00:09.297
in foreign lands, and they would leave their assets
00:00:09.297 --> 00:00:11.982
in the care of trusted stewards.
Duration
13 seconds
Views
22
Timestamp in Movie
00:17:04
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.
What trusts do, ultimately, is they play - The Spider's Web: Britain's Second Empire 00:06
What trusts do, ultimately, is they play
So the settlor, the knight in this case, - The Spider's Web: Britain's Second Empire 00:12
So the settlor, the knight in this case,
Nobody's gonna find anything - The Spider's Web: Britain's Second Empire 00:06
Nobody's gonna find anything
- [Narrator] In Britain's offshore jurisdictions, - The Spider's Web: Britain's Second Empire 00:08
- [Narrator] In Britain's offshore jurisdictions,
Anyone can set up a trust and act as a trustee. - The Spider's Web: Britain's Second Empire 00:06
Anyone can set up a trust and act as a trustee.
There are no bodies to certify that a trust has been set up. - The Spider's Web: Britain's Second Empire 00:07
There are no bodies to certify that a trust has been set up.
- The only persons who know about the creation - The Spider's Web: Britain's Second Empire 00:08
- The only persons who know about the creation
There is no financial reporting obligation of trusts. - The Spider's Web: Britain's Second Empire 00:06
There is no financial reporting obligation of trusts.
They're not required to put annual statements - The Spider's Web: Britain's Second Empire 00:07
They're not required to put annual statements
So actually trusts are, to all intents and purposes, - The Spider's Web: Britain's Second Empire 00:08
So actually trusts are, to all intents and purposes,
- [Narrator] Economist John Christensen - The Spider's Web: Britain's Second Empire 00:09
- [Narrator] Economist John Christensen
We're talking now about trillions, - The Spider's Web: Britain's Second Empire 00:10
We're talking now about trillions,
For tax purposes and for other purposes, - The Spider's Web: Britain's Second Empire 00:06
For tax purposes and for other purposes,
Everything, works of arts, gold bullion, - The Spider's Web: Britain's Second Empire 00:17
Everything, works of arts, gold bullion,
Now think that one through, 'cause we are talking - The Spider's Web: Britain's Second Empire 00:13
Now think that one through, 'cause we are talking
- Well, the Cayman Islands are among several - The Spider's Web: Britain's Second Empire 00:11
- Well, the Cayman Islands are among several
The countries are now required - The Spider's Web: Britain's Second Empire 00:09
The countries are now required
- It's important that the Cayman Islands - The Spider's Web: Britain's Second Empire 00:11
- It's important that the Cayman Islands
And I think this importantly reflects - The Spider's Web: Britain's Second Empire 00:13
And I think this importantly reflects
- The trust lies at the core of the British secrecy model. - The Spider's Web: Britain's Second Empire 00:05
- The trust lies at the core of the British secrecy model.