I hate to break it to Joe, but the entirety of the art market is used for money laundering, and he knows that…
That’s why it exists. Art is primarily used as a store of value, to launder money, and to seek favorable economic incentives like tax cuts…It has always been this way, and will likely always be this way.
This has gone on for several hundred if not thousands of years now.
The high art market is really no different than a cryptocurrency exchange; specifically, these pieces function like a non-fungible token.
Unless an artist is selling each painting between several hundred to several thousand USD, you can be sure that the art is being used as either a medium of exchange, a store of value, or as a token for favors.
Hunter Biden is selling his ‘art’ pieces for $500,000 and more, yet he is no Picasso.
Even if he was, there is no justification for any piece of art to sell at those inflated prices, unless it is being expressly used for any of the purposes I just listed above.
I have talked about this before, but I will share this little educational video to break it down even further:
🚨You can't make this up🚨@POTUS released a national strategy to counter corruption and is warning that money laundering and other financial crimes are rampant in the… art world.
So who is buying Hunter Biden's artwork? Americans deserve to know.https://t.co/VUIszkzEj9
— Oversight Committee (@GOPoversight) December 7, 2021
According to Fox News, The White House states :
The White House document touches on the corruption-rife art world, noting that the “markets for art and antiquities — and the market participants who facilitate transactions — are especially vulnerable to a range of financial crimes.”
“Built-in opacity, lack of stable and predictable pricing, and inherent cross-border transportability of goods sold, make the market optimal for illicit value transfer, sanctions evasion, and corruption,” the strategy reads.
The White House flagged the art market as a potential vector for financial corruption in a report Monday, but it made no mention of the ethical concerns raised by watchdogs surrounding Hunter Biden’s newfound and lucrative career in the industry. Hmm. https://t.co/YWtTovr7lx
— Nick Short (@PoliticalShort) December 7, 2021
Let this sink in, yesterday the Biden administration took aim at the Art Market,referring to it as a HOTBED of shady financial dealings part of its “Strategy on Countering Corruption” hey start within – 500k for a painting made by Hunter Biden is rife with corruption
— Concetta (@concetta8631) December 7, 2021
Daily Mail further exposed the corruption:
This fall, after DailyMail.com published photos of the Hunter’s swank LA art opening, the New York Post reported Hunter had sold five prints for $75,000 each.
Shaub also called out the question at that time, saying ”These are legitimate questions’ when White House press secretary Jen Psaki was asked about it and pushed back.
The report, titled United States Strategy on Countering Corruption, addresses art and antiquities in its second section, on Curbing Illicit Finance.