this post was submitted on 01 Sep 2026
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politics

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[–] CaptDust@sh.itjust.works 28 points 1 day ago* (last edited 1 day ago) (2 children)

They’ve invested something new. It’s called Crapitalism.

For your consideration, https://en.wikipedia.org/wiki/Kleptocracy

Orr https://en.wikipedia.org/wiki/Crony_capitalism

[–] Viking_Hippie@lemmy.dbzer0.com 8 points 1 day ago* (last edited 1 day ago)
[–] hoppeduponcoffee@lemmy.zip 11 points 1 day ago (2 children)

Since 2011, more than $1 trillion has left developing countries annually in illicit financial outflows. A 2016 study found that $12 trillion had been siphoned out of developing economies.[15]

In a 2011 forensic study of grand corruption cases, the World Bank found the United States was the leading victim of illegal incorporation of entities involved in money laundering schemes.[24] The Department of the Treasury estimates that $300 billion is laundered annually in the United States in violation of US law.[25]

This kleptocratic financial system flourishes in the United States by illegally abusing the United States' liberal economic structure for two reasons.

  1. First, the United States does not have a beneficial ownership registry, and kleptocrats take advantage of this privacy benefit.[26]
  2. Second, kleptocrats take advantage of incorporation agents, lawyers, and realtors to unknowingly launder their money.

Yeah that sounds about right. Probably conservative estimates, to boot.

[–] TankovayaDiviziya@lemmy.world 3 points 22 hours ago (1 children)

So this is what capitalists mean by "innovation".

[–] hoppeduponcoffee@lemmy.zip 1 points 15 hours ago

Inventing new, clever ways to grift people!

[–] elgordino@fedia.io 6 points 1 day ago

First, the United States does not have a beneficial ownership registry, and kleptocrats take advantage of this privacy benefit.

It was about to but then Trump cancelled it before it came in. Shocker.