USA - Financial incumbents and politicians love to invade normal people’s everyday activities and they’d love to know how our funds are being spent right down to the last penny. At the same time, the banking system that they regulate is used to wash trillions each and every year using schemes like shell companies, bogus supply chain invoices, smurfing, and ‘mirror’ trades to hide funds that stem from illegal acts. In the last decade, few notable bankers or financiers have been jailed for financial crimes and money laundering save for Bernie Madoff. Many believe Madoff was only incarcerated because he stole from the banking cartel and shed light on their shady activities.
Mirror trading is a financial strategy that is legal in certain jurisdictions. The mirroring method allows two identical trades to be executed, but the selected strategy of the two combined trades cancels each other out. However, funds are still moved from one location to the next using the scheme. As one Quora commenter explains:
“A client opens up a trading account with Deutsche Bank in Moscow. The client deposits let’s say the equivalent of $10,000 in rubles in his account and asks the bank to buy that amount of blue chip shares on the Moscow stock exchange. The client has previously instructed the bank that the same shares are sold on the London stock exchange for GBP; both trades are executed within fractions of a second of each other. Voila. Clean as a whistle.”
Unfortunately, the world’s bureaucracy continues to focus on banning cash and claiming cryptocurrency’s main form of use is money laundering. In reality, the central banks’ fiat money with currencies like the US dollar and Japanese yen are the main vehicles for hiding shady funds.