alt Hacker NewsAll kinds of money:
"Anyone who’s lived in London as long as I have can’t fail to notice that over the last 30 years, the city’s become awash with money. From the mid-90s onwards (the last time property was affordable to anyone on an average salary) shops have got more designer, cars faster, and property commands ever more eye-watering sums. Knightsbridge and Belgravia have become the playground of oligarchs and at the centre of it all — that temple to Mammon — stands Canary Wharf, home to banks, insurance companies and lawyers, gleaming on the London skyline, its shiny windows hiding shady deals.
‘Londongrad’, ‘Moscow-on-Thames’… That Russian money has been given a warm welcome in London is no secret. Over the last two decades, swathes of prime real estate in London and its surroundings have been bought by wealthy Russians looking for a safe haven for their cash, with few or no questions asked. "
https://www.investigate-europe.eu/opinion/londongrad-a-citys...
This. And it's not just the Russian oligarchs.
In 2024 a corrupt government was toppled in Bangladesh. In subsequent investigations it was revealed that just one member of the cabinet had bought more than 200 luxury properties across US, UK, and UAE.
The fact that the West welcomes black money from anybody and everybody causes both inflation to go up in the West and exploitation to prevail in less developed countries of the world.