Why do the BIG FORTUNES keep their WORKS OF ART in SWITZERLAND? - VisualPolitik EN
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- Опубліковано 13 лип 2024
- Where would you say the largest number of artworks in the world are concentrated? And the most valuable ones?
Probably most of you will think of the British Museum in London, the Louvre in Paris or the MOMA in New York. However, in order to answer this question, we have to travel to Geneva, Switzerland. There is a mysterious enclave within which hundreds and hundreds of thousands of works of art are stored. Some of the most important works in human history are guarded in this place, far from the prying eyes of the general public.
But why has Geneva become a global repository for pieces of art? Why do great fortunes deposit their works here? Why do they invest in art in the first place? In this video, we will answer these questions and also tell you how Argentina is becoming a leading market for the art industry.
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In Argentina, having your money in fine art is a hedge against the devaluing of the currency. It is also a way to hedge in dollars instead of pesos
How does it work?
Same as precious metals
and bitcoin
@@FrancescoGatti
> and bitcoin
Bitcoin seems also to be huge in Argentina. I have the impression that adoption there is much more advanced than in other countries in the same region as Mexico and Brazil.
-amount of art auctions
-anonymity but still having enough exposure to sell art
-no questions ask policies
-money laundering without being asked
I doubt Switzerland would condone money laundering without checks in place to counter such activity. They're one of the more credible nations on earth when it comes to integrity, credibility and following ethical/international guidelines. I'm sure there have been exceptions that has slipped through the cracks though.
@@SerenityM54L2SAM5L5N1 Artwork auctions in general are a money laundering scheme. Take a fake piece of art and sell it anonymously to an anonymous bidder the auction house/ swiss government only want the commission and taxes.
@@SerenityM54L2SAM5L5N1 Switzerland is like the Disneyland for the global financial elites.
Switzerland lives from looking the other way. Most dictators, crime lords and corrupt politicians bunker their money in Switzerland, because Switzerland does not ask any questions and looks the other way.
Switzerland is like a tumor in the global financial market and their every day business keeps hundreds of millions of people in the 3rd world poor and even costs the 1st world hundreds of billions in evaded taxes every year.
The Swiss even had cozy deals with Hitler, just to get their hands on the money, gold and art wich the NAZIS stole all over Europe.
Switzerland is one of the least credible nations on this planet with zero checks in place to counter money laundering. Switzerland lives off money laundering, tax evasion and harboring the fortunes of criminal activity from all over the world.
Of course Switzerland is just one player amongst many others, especially the US and UK.
@@SerenityM54L2SAM5L5N1 Their reputation is quite the opposite because of their bank secrecy despite having put some caveats on it in recent years. And it is no wonder.
A port is a place where goods are stored before/after a long journey;
PORT
airPORT
railPORT
Oo
USB PORT to store digital goods
PORTugal
spacePORT is totally feasible for a landlocked country, just look at Kazakhstan (Baikonur Cosmodrome)
also: there are such things as riverports and Lakeports
noone would ask why there are Ports in michigan
*the secret ingredient is never asking how or from where they got them*
And Argentina has always been very good about not asking questions...
@@SomethingSeemsOff a lot of places too
there are a few fortunate German kids out there
Investing in Art is the way that millionaires and politicians have developed to save, circulate and launder wealth ... There are schemes that make it possible to overprice the value of works of art, donate them to a museum and discount that amount as "tax deductions" in other activities !!! The poor and the middle class don't have access to the "thousand and one" ways that the rich and powerful have to not pay taxes or even print "tax deductions".
ua-cam.com/video/V5sOuET8UWA/v-deo.html
@@dantemonterey1507 ... You nailed it... that video says it all !!! ... ua-cam.com/video/V5sOuET8UWA/v-deo.html
Pretty sure something similar happened in latest season of Billions!
“A man who has never gone to school may steal a freight car; but if he has a university education, he may steal the whole railroad.”
― Theodore Roosevelt
What does that quote have to do with this video and why does these comments keep being embraced on videos about unrelated topics? I could understand it if the comments were relevant, but it's just spam at this point
@@SerenityM54L2SAM5L5N1 “The Universe is under no obligation to make sense to you.”
― Neil deGrasse Tyson
How to hide something valuable 101?
Answer: Hide in plain sight.
Grant didn't put the link he said he'd attach for info about swiss info for the system of transaction...
I checked for that too. What up?
So upset about that, really wanted to watch that video
You failed to quote the main reason of why art is bought: fiscal evasion (optimization some may say)
He did say that though. No taxes in the Freeport and such.
@@innosam123 I'm not talking about taxes on art, I'm talking not having to pay your general revenue taxes because you buy art
Tax evasion and money laundering
They always fail to point obvious stuff here, especially when it regards the point of view of the public. I wonder if The staff of this channel are all billionaires, so hard they defend their point of view. Get a conscience, VisualPolitik!
Joao vMR Do you have proof Simon is a billionaire? Because that’s be amazing if he was.
How much of the Art traded in Argentina was imported between 1945 and 1950?
HIM: Why is it called a port in a landlocked country. Leave your thoughts in the comment.
ME: homework!!!😔😔
Maybe because Pirate's Treasure stored here' would just too obvious.
The brits did not steal... They borrowed stuff permanently without asking
Haha, don't worry it soon getting a taste of its own medicine
Har har
Reappropriation of course
They're just holding on to them for the Greeks.
Its flag is also a big plus.
Or a first aid kit
Well it had to counter Austria to be true neutral
1) It's called a port because it's not landlocked in the sense that matters. The Rhine is an international waterway and several Swiss cities are ports on it. Switzerland has a navy, a small one of like seven ships to be sure, but a navy nonetheless. So it is indeed the Free PORT of Geneva.
2) Argentina is dominating the international art market because they figured out that money keeps its value longer if you paint it than if you print it. As an artist myself, who has seen real talent struggle while safe corporate art advances in this world, I can tell you that it is indeed just a store of value. The buyers don't really care about the aesthetic value of the piece that they buy, only that it will retain its worth as an investment.
3) It crushes my soul a little bit to think that, if every "safe investment" in the Free Port of Geneva were out on display, there would be another British Museum for every 8 million people. How much poorer, and starved of art, our world is just so that the privileged few can hoard.
4) Art's role as a sort of money, terrible though I find it as an artist and a communist, is an enduring reality and simply cannot be wished away. So the only change I would make to the market is this: every single piece of art so used as a store of value must be on free public display in a safe place. It doesn't have to be a museum; airports and courthouses should be full of art too. I envision a world where the workers own their own businesses, and obscene wealth is taxed heavily. But I would leave this, deliberately, as the only tax dodge. If you want to keep your family's fortunes, then turn them into a way to make our public spaces beautiful, and keep artists working. We will guard that wealth, and if you need to sell it, it will be taxed lightly to pay for the guards, and the rest is yours.
True... but just to clarify: Geneva isn't build on the shore of the Rhine river, but the Rhône river.
I can see why Argentinaians would be investing in art. I wouldn't trust their currency either with their corruption within the government. Art is much more stable.
If I had the funds, I too would invest in art.
There is an organization called Orion I believe that offers shares in rare comic books (a form of art). That could be a stable investment for those of us that can't afford a Picasso.
that’s why art and bitcoin are going ballistic there
This'll be a fun comment section for us Swiss.
@Mantorras Montquilla that's laughable, how is our country corrupt?
Mantorras Montquilla bruh, it’s not the country that’s corrupt, it’s the banks in it that have a geographical advantage that are corrupt being that the banks literally hide their money in the Swiss Alps, making it almost impossible for their government to get that money
@Mantorras Montquilla It's one of the least corrupt countries on the planet..
It is one of the most corrupt places on Earth. Financial corruption at the expense of other countries is what Switzerland is known for.
Karina Castro if you think that Switzerland is one of the most corrupt countries in the world, then you don’t know most of the world
nicely done, thanks!
excellent video, very interesting.
I live 15 minutes away from the Freeport of Geneva 😂
Is this true?
Mercury Rhodes yes everything he said is true
Damnnn
an interesting topic to be discussed and deserves more info...its nice to do research into a new topic
Visualpolitik: Argentina and Switzerland doing shady things
Me: Uh Oh
And the worst is that this channel presents it as legitimate and justified...
@@joaomramalho1 Why, of course it is justified. Sincerely, a Swiss
Many Hanza cities in the medieval times were along rivers...
The Vikings raided a place called 'Doresstad' many times which is positioned in the middle of the Netherlands.
The Rhine is just a very big river, hence there can be ports on it.
Indeed... but Geneva isn't build on the shore of the Rhine river, but the Rhône river.
GRANT'S AUDIO is getting better! So much better
VisualPoligeeks. I love it.
Visualpoligeeks... Love this word.
A port is where lots of goods come and go from outside locations, like airports. I had the same argument at one point and they mentioned airports and that made it easier to understand.
The free port of Geneva is called such because it is an inland port. Inland ports are ports on inland waterways such as lakes, rivers and canals. Since Europe is characterized by many rivers in some regions, Geneva's port would be of im*port*ance.
“A crime persevered in a thousand centuries ceases to be a crime, and becomes a virtue. This is the law of custom, and custom supersedes all other forms of law.”
- Mark Twain
7:36 says there will be link for "shelter or hiding place?"
Work of art: a taped banana
And I thought Banksey was the epitome of the art world’s pretentious bullshit.
"Cause we used to steal a lot of stuff" ohh self burn those are rare.
Because Switzerland is a work of art itself
Except their bonkers laws and regulations like now allowing to flush your toilet after 10PM
@@theshadowman1398 still better than your country
Darren Butler
And which is my country ?
The Shadow Man where are you living ?
And I hope you don’t believe that people in Switzerland don’t flush their toilets after 10pm ...
Greetings from Zürich 🇨🇭
@@theshadowman1398 shouldn't you know that?
where is the video in the description below you mentioned?
This presenter rocks!
Yes yes yes
Almost 1 mil!
Does anyone know the name of that argentinian(?) artist that is shown painting with big brushes on a screen inside the gallery? 13:46
Some of his paintings is also shown in details throughout this video! 13:39
Thanks!!
Glad I continued watching this in the morning lol
Would I invest in art? What's the bare minimum?
Dear VisualPoliik team: found out watching ads helps your bottom line so I'll make an effort to watch ads as a token of my appreciation for the good job you do.
Cool
It’s a port because it’s the location the cargoes are considered to be unloaded as defined under Swiss law and the international Simon says code.
so close to 1 mil
Crazy to think I go by there all the time and I would have been none the wiser. Geneva has so many secrets 🇨🇭
A lot of time art is donated for tax exemptions that is artificially marked up in anonymous auctions.
Just waiting for Argentina to use their planned economical approach to regulate the art industry now. Surely it's coming.
Check out the movie " blurred lines" it's the most recent doc on how the art market works. It was made 3 years ago.
I think this word comes from Latin "Porta", gate. The Port is, therefore, the entrance in a country, by sea, by air, by river, even by road, (as here, in Foz do Iguaçu, Brazil).
7:30 where's the link? :)
The british museum in london, shows video of the Louvre
"No, really." Does that mean, "Yes, really"?
Its a port because lac leman is shared between switzerland and france. Its a commonly used trade route.
I live in Geneva
Still missing Simon. :(
As aside both the Swiss (400) and Austria maintaine naval force.
Make a video on Switzerland business and what is a black said of it and how to open business there
Ulster Plantation?
Listen to Prem Rawat!
Damn, channel racing to a million faster than I pull up my zip.
Wow
Make video on indian temples
This not surprise me at all: in Foz do Iguaçu, Brazil, we have a Dry Port, more than 1000 Km from the sea!!!!
What is with frame rate on this video?
Great presenter!
Just a bit slower. Thanks
Dear VisualPolitik EN can you please bring back the Bearded host. He had this vibe that people liked. It has nothing to do with the beard it's just the vibe he had in him made the topic interesting.
Air ports are also usually land locked
Argentinean Union Lords from the other video might be evading a s**t load of money through wors of art.
I'm actually not shocked to hear it's Argentina.
When is Simon coming back?
It is called a port due to a quirk of international law which also actually includes airports and border checkpoints allowing local lores and taxes to be waved until it leaves the free port making it almost as if the stuff kept there doesn't exist but due to another quirk of international law there is nothing stopping people continuing to make money from stuff kept there that is why a lot of tax haven's and banks are based in free ports as well
We need a vdo about french influence in lebanon
Yes please!
4:36 big as far as *you* know
Having watched your videos on Argentina on the activities of the Kirchner's, I think it's pretty obvious why Argentina has moved into this sector.
I hope the warehouse doesn’t catch on fire...
Uf... He's a cool guy and the topics are nice but I find it hard to understand the accent... Simon was nice cuz it was so easy to understand but I'm struggling since I'm not a native speaker
With so great and unstoppable inflation no wonder that Argentina became a great market for art.
What happens when one is not educated in vocabulary before making a videograph? Demonstration of ignorance:
port (n.1) also "a town, market town, city," ... from Latin portus ... figuratively "haven, stead of refuge, asylum" (in Old Latin also "a house;" in Late Latin also "a warehouse"), originally "an entrance, a passage," akin to porta "a city gate, a gate, a door"
Listen to Prem Rawat!
A port does not need to be on the sea or even water. That is only one kind of port.
Charging port!
Wonder if they are storing any stolen art?
Despite all the numbers, none is having the picture of Jesus Christ
Those are fake pictures of Jesus Christ.
No one has or know how Jesus looks like in this our generation, not even the vatican
Kodak have recently decided they're finally old enough to experiment with drugs.
Most of the Nazi loot was art and this could not to capitalized if it did not travel freely to/from the country.
Well there is one other thing about art... Lets say you buy 10 paintings from an "up and coming" artist. You pay an "art expert" to hype the thing. Lets say you buy the paintings for 1million each. Then after a little while you auction them off. Pobably noone will want to buy these, so you hire someone, give them 20 million, so they buy the 2 paintings for 10 mil each. (From your own money) And so now you get to the fun part. Since you have 8 more paintings, and 2 were reportedly sold for 10 mils, now you can give the 8 others to museums, as tax deductable donations. Since the "market for these paintings have moved" you can say that you donate 80 mils in value, and you get an 80 mill tax deduction, all the while you spent 20 for buying your own paintings, and 10 to initially buy them (plus auction fees, plus the hireing of art "experts, who hype then and who search for these). So you just avoided 50 mils in taxes. That is the "art business".
How does the art market work? In the gray that's how.
How the hell did you pronounce louvre? I almost didn't know Wtf you were saying
Is this not Simon’s channel anymore???
The comment section is about what I expected.
Where is Simon? 🤔
Wait, where is Simon Whistler gone?
Argentina art market : safer than bank to keep the wealth & freer to launder the money anywhere else.
450 million for a damn paining. I don’t get it.
Bought by a saudi dictator to give to a museum for his friend the UAE dictator. I'm surprised it's less than a billion
What happened to the previous host?
Stole a lot art... and proud of it !!!
Rule Britannia !!!
Where is the other guy?
Why doesn’t someone just count them one by one
In the world are many art recreation studios who by hand recreate most famous paintings, it is not cheap, but still better than high quality printing reproduction for less than 100$, this art for real art lovers, art business mainly is money laundering and money investing possibility, they don't give a shit about artistic value, they know that price of investment is more or less constant, same as banks investing in some industry, doe's banker have any clue about industry in which he invest , answer is NO, he just know that after some time investment will give some profit.
Gee, i thought it would be for the weather.
I see no evil. For a price.
I have 1000 pieces of art. Yaaaa !!!
Were are they ?
Locked away where people can't see them.
😏
14:10 - I guess it makes sense in a hyper leftist, pretentious country like Argentina that the only thing they can get right is art lol
IN-VEN-TORY
Kids/ immature adults collect toys and billionaires collect old paintings
Money Laundering, Terrorism funding or Safe investing
Who knows what are the underlying activities behind all these transactions..
Until the next tauredunum event happen.
I guess that's the reason many businessmen and politicians including bill gates and the prince of Saudi buy these precious artworks. the painting which was mentioned here of 450 million dollars is bought by Saudi prince king Salman current king
Lol this was made before kodak blew up
FFS OPEN THE DICTIONARY ON THE TERM PORT!