Raiding the inarticulate since 2010

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From political engagement to asset protection

From Moneyland by Oliver Bullough pg 51:

Nevis prospers by renting its sovereignty to rich people who believe America is over-litigious, that women get too much money in divorce settlements, and that lawyers lie in wait for the successful. These beliefs are widespread among the rich, and Moneyland has given them the power to do something about it. Once upon a time, if wealthy Americans felt their country was over-litigious, they would seek to influence a political party to change the laws. If they felt their spouses’ divorce settlements were too generous, they could argue for legislation to be passed to change that. It might have taken a while, and it might have been imperfect, but that’s democracy for you. That process of messy compromise, of back-and-forth, has been replaced by asset protection. Instead of campaigning to change the laws, they have opted out of them altogether. If you’re an ordinary person, you still face the risk of litigation and divorce settlements, as American law demands. But if you’re rich enough, you can avoid US jurisdiction and tunnel into Moneyland, where your money is hidden from the rest of us.

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