Black Market

A black market or underground economy is the market in which goods or services are traded illegally. The key distinction of a black market trade is that the transaction itself is illegal. The goods or services may or may not themselves be illegal to own, or to trade through other, legal channels. Because the transactions are illegal, the market itself is forced to operate outside the formal economy, supported by the established state power. Common motives for operating in black markets are to trade contraband, avoid taxes, or skirt price controls.
Posts about Black Market
  • Venezuela Public Corruption and Fraud: More Whistleblowers Needed

    … out of the country is illegal. Of course, a ready black market opened to smooth the way for corrupt officials who want to get their money out of Venezuela. The country has also become much more violent. Kidnappings and homicides are off the charts. When Chavez took power the murder rate was less than 20 per 100,000 people. Now it hovers around 100…

    Due Diligence- 15 readers -
  • Swiss Convict Tax Whistleblower in Absentia

    … a video link. He was scheduled to come to Miami and meet with several whistleblower lawyers but was afraid to leave France. We had to settle for a video conference. Falciani was staying in France to avoid arrest by Swiss authorities. Because he holds both French and Italian citizenship, he cannot be extradited from those countries. Despite Falciani…

    Due Diligence- 17 readers -
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