Bank of England bit coin

antrobus

padington wrote: »

Two teasons.

1) Art is easier to nick. ....

But harder to sell. Each painting is unique and there is a reason why there is an Art Loss Register.

padington wrote: »

...People can't help but show it off. ...

Wouldn't the same thing apply to the people in posession of the stolen art?

padington wrote: »

....Bullion gets stored in very discreet places. So it becomes a more common currency....

But it's much easier to disguise it's provenance. You just need someone with a smelter hidden away in their garden.

wotsthat

padington wrote: »

They do already, when they are sufficiently big time.

Just how many unknown Picasso's that have never been under auction do you think are being used as currency by assorted higher ups in the drugs game.

Take a guess. I'm going for none.

antrobus

padington wrote: »

The article clearly explains how obtaining cash in quantities causes a paper train for illegal activities. ...

No it doesn't. The headline is 'Valuable as Art, but Priceless as a Tool to Launder Money'. It says nothing at all about obtaining the cash; it's about what to with it once you've got it.

padington wrote: »

...My assertion is wholly correct, yours is a failure to accept at times you are wrong....

Your assertion is clearly incorrect,


[QUOTE=padington;69208528
Here's another one.

"The core of any successful money-laundering enterprise is secrecy -- the lack of a defined 'paper trail,' " said Lynda Albertson, CEO of the Association for Research into Crimes against Art. "That makes the secretive nature of the art market in general, and China's market specifically, ideal for covering illicit activities."

http://money.cnn.com/2014/02/20/news/economy/china-art-laundering/

I never said it was 'news', just stated a fact.[/QUOTE]

Err. Didn't you notice that your quote contains the phrase "the lack of a defined 'paper trail'". Doesn't that rather contradict your claim that there is a paper trail.:rotfl:

padington

wotsthat wrote: »

Just how many unknown Picasso's that have never been under auction do you think are being used as currency by assorted higher ups in the drugs game.

Take a guess. I'm going for none.

The art theft industry is about 6 billion a year.

http://www.nationalpost.com/story.html?id=40babe8f-84b5-46d7-a311-344494e03788

It's nicked so much partly because it's such a handy black market tradable asset.