awe with food and medicine and sleep with that's all for now. be sure to check out our t dot com for all the latest breaking news and updates. we'll see you right back here at the top of the hour with ah

with i rick sanchez. i'm here to play with you. whatever you do, do not watch my new show. seriously. why? watch something up. so feel free. my little opinion that you won't get anywhere else work of it please, or do i have the state department to see i weapons, bankers, multi 1000000000 dollar corporations. choose your facts for you. go ahead. why

change and whatever your group don't want. marshall stay, mange true, but of uh, probably gonna make you uncomfortable. my show is called director impact, but again, but we don't want to watch it because it might just change the way you think. ah, there seems to be a growing movement calling for the return of stolen artifacts to their homeland, especially when a nation with a claim to these artifacts, requests or demands it. i'm christy i and you're watching the cost of everything. where today we're going to be examining the art world and whether or not artifacts an artwork should be repatriated, as well as the role of modern art in today's world. ah, moody art and precious artifacts of defeated people by war has been common practice

since ancient times. and these treasures are taken back to the victors capital to be displayed as trophies of war and conquests. museums to day. now how many of these looted treasures? and while they're no longer displayed as trophies of war, there still displayed for educational and cultural purposes so that all the public can enjoy these national treasures. however, today, debates around the colonial context of these acquisition by western museums has centered around arguments in favor of repatriation. we paid creation refers to returning cultural property or looted artifacts back to their country of origin. and the pace of repatriation has accelerated in recent years. the getty museum and l. i return 3, terra cotta figures to italy. the denver are museum, shipped for antiques, back to cambodia. this is nathan tony and return 29. been in bronze is back to nigeria and the london horn and none museum said it would return $72.00 treasured

artifacts. back to nigeria in 2020 the museum of the bible in washington dc. return nearly $11500.00 looted objects back to iraq and egypt including $5000.00 per pyro, 5 minutes, and $6500.00 clay tablets. so what is the point of all these repatriation and why are museums so against it? museums are against the repatriation because the purpose of these museums is to showcase things of cultural value from around the world. especially as some people are not fortunate enough to travel all the top 10 most visited museums yearly. all the one are located in europe or north america, with the exception being in beijing, china. these countries have museums that are subsidized well enough to care for and display historical artifacts that can be viewed by possibly millions of people.

however, some people feel that museums should return artifacts to their original countries because they're the remnants of colonialist ideologies and regimes. however, there are questions regarding who owns the artifacts and where is the documentation to prove that many ancient or historical king knows from which many objects originally came from no longer exist or spread across many contemporary national borders, such as those of the ancient roman empire. another point to consider is the question of whether or not the artifacts will be properly care for, or if the origin country has the security to even protect them. financially, museums will be in a lot of trouble with the loss of precious artifacts. for example, the british museum made an estimate of 4000000 pounds in 2020, from their vast collections of artifacts during the colonial period. hence, the main reason for withholding repatriation of artifacts does not fall under

disrespect or ignorance, but rather the risk of inefficient maintenance and economic loss. joining us today is attorney leila. i'm in dollar. how much have museums gained with ours? that doesn't belong to them and how much value had the countries last? because of the theft of their cultural art? i think it's really hard value to one to 5 because really the ari is priceless. it's not just about the monetary values in terms of tourism and revenue and sales from the gift shop. i think a lot of the value is cultural, so it's really hard number to quantify. but these values really, i would say high, are really important for the, for just mankind and for people enjoying our heritage. but on the other hand, should all are be repatriated. if all artifacts were to be repatriated, many museums would actually sit empty. so what's the point of even having

a museum when the purpose was to bring in things from all corners of the world so that people can enjoy them in a central location without ever having to travel? so i don't think all art should be repeat treated. i think that we should be examining the circumstances under which these objects were brought to the new dance . so if the objects were stolen from a country, if they were taken during times of violence, then i think those are should be treated. but i even think that those origin countries, countries that want their works that aren't looking to have every object returned. i think they're looking for specific pieces that are symbolic of their people or objects that help to tell a story that those countries can't tell. i had read a statistic that about 90 percent of our from africa has been looted from africa. so these nations can't even tell their own stories of their other past. so i think

that i don't think there's a real danger of that museums are going to be empty because countries will all their work back. but i think countries are mindful on selecting certain pieces and i think there is a lot of value to the we can cycle pete at museums, museums like the british museum in the metropolitan museum of art. it's wonderful that we have works in one place where we can see the objects kind of in the context of world history. and there is a lot of value there. but that doesn't mean that object should only be in those museums. and that these origin countries don't have access to their own arc. now, many source countries do not have adequate facilities or personnel, whether due to poverty or armed conflict. so many artifacts are actually safer, where they're actually housed. now, should these pieces be repatriated where most likely they'll end up getting destroyed or damaged? it's a really difficult question. and i think we have to look at those circumstances as

well. so there have been programs, for example, in the u. s. where u. s. museums could hold on to objects that were taken from iraq and syria, and that those objects wouldn't be returned until it was safe to do so. this is done been done historically as well, even during world war 2, objects were moved from you see and put away and safe keeping and then didn't return to museums until it was safe to do so. so i think we can continue with that type of and that, that kind of problem solving when you had objects that weren't safe returning home . and i know there are some situations or specially complicated, like if you're considering objects from afghanistan, natal, bon, perhaps those objects shouldn't be returned now while the telephones and roles. so i think you have to look at specific specific circumstances. but i think the danger there is that

a lot of western museums will say that it's not safe to return work to the middle east in general. or can ever can countries in general, kind of just making the blanket statement so that works will be returned. would you say that modern art is simply a product of marketing and that if an esteemed collector or gallery where to endorse it, similar to any consumer good that's being endorsed by celebrity, that's enough to justify a high ticket price. so i don't think all modern is just, or the prices attached to modern are just a result of marketing. i think marketing has been around, you know, for centuries or so we've been trends of who the hot painters were. and we think of, as you can think of like leonardo, michelangelo is talking to her so i think there's always been a marketing aspect for aren't i think there's a lot of merit in modern art as well. but there are definitely trends. and there

are definitely there are celebrity endorsements, and galleries themselves that know how to market artworks by using social media account and placing works with high profile customers. but there is still a lot of merit in modern art, but i think that with any type of are or any type of good, you're not necessarily necessarily getting the highest quality all the time. and i think different brands market. so i think it's the same in the art world as well. when we come back is art specifically modern art a way to wander money? is there any real value in it? don't go away. ah, ah.

ah, do i believe the mag goes? if dad pitching me today, no, that's all i was on my phone. i barely. yes. because of the you claims, things that they're fighting for their own independent sovereign existence. then of course, they should be dep, it, dep, it to the best go got damn sporting them if they're thinking that they're fighting, what the defense of the liberal democrat was. i think they would be the loser. ah ah

ah, the the art world is very opaque and unlike industries like real estate where buyers and sellers are vetted and known and recorded, transactions are typically masked. art typically accommodates those who want to anonymously buy a high dollar paintings. and the industry actually allows for large cash deals are dealers are not obligated to disclose the identities of their buyers. that means that anyone who has the money to buy art, ken no questions asked. so for those looking to launder money, art is

a very attractive vehicle. the united nations office on drugs and crime estimates that the underground art market, which includes that fix illegals import, an organized looting may bring in as much as $6000000000.00 annually. the portion attributed to money laundering and other financial crime is in the $3000000000.00 range. now this is a significant chunk, as approximately 300000000000 is longer through the u. s. each year. and especially compared to other things like crypto currency in which only $2800000000.00 was launder in 2019 art was more than double that of crypto currency. when mexico passed the law and the 2010 to require more information about buyers and how much cash is spent, the market cratered, a sales to 70 percent in less than a year. many believe that this was because mexican cartel rings had previously been

the biggest buyers in the market. so now what is modern art and how much is a really work? well, as a tough question, because the value of modern art is entirely subjective. it is easy to see why a historically significant painting is worth a lot of money. it is skillful, detailed, and stands the test of time. the artist is not alive any more, which adds to the value. the piece, as there is a finite number of works available. however, compare that with a modern work of art, something like sy twan these untitled and it is just baffling how the big red scribble on canvas is valued at $46000000.00. another piece like the comedian, which is essentially a rotting banana duct tape to a wall. so for a $120000.00, many speculate that a blend of money laundering and a constant boundary disintegration in the modern art world has given birth to this

ugliness, as we now know as modern art. because it actually doesn't matter what the art looks like, because it's not about making good art anymore. it's about covering a dirty money, an artist. now our focus more on creating what will sell easily versus objectively high quality or beautiful art. modern art doesn't have to have a clear and set market value like other industries. money laundering is rampant and art is also very easy to smuggle and move around. the economist estimated in 2013 that the geneva freeport might hold more than a $100000000000.00 worth of us art sitting, tucked away in a space that also functions as a tax haven. art collectors also have creative ways to use our work as ways to defer paying taxes as well, including the establishment of private museums and foundation, storing art and offshore free ports and loopholes in the tax code,

such as like kind exchanges. lila, here with us again, are some of the famous works out there in reality, just forgeries that nobody knows about and are there is some forgeries that can never be detected. that's really fun question because i think it brings up some of these conspiracy theory ideas as well that some of the great works we're looking at, or just forger use. and in fact, that's just a theory that's been circulating about the mona lisa, that the modem lease is just way too valuable to actually have on display. and that the real one is hidden somewhere and some type of ball or bunker. there are a lot of forward driven out there, and i think it's hard to detect one's work that ard, for dreams. there are potentially work that we've been looking at for decades, were maybe even century. is that our forgeries? but it's really hard to know which works our own less that work is really

scrutinize. and that's true. any can be done with forensic science by the work of kind of stores, by looking at the history of a work. not so for finding are and antiquities as well. there is often documentation that sport to accompany a work for sale. so you may think that'll work came from an artist studio or that i had this really prestigious past history. but in fact, it could be a modern forgery, that is accompanied by foreign documents. so there are a lot of for dream circulating. so it's important that people purchasing are very mindful of that and actually take the steps to ensure that they don't by forgeries . so people will come to my law firms some times with questions about work that they're interested in buying. and the last guess if we can help authenticator work, so we don't, we are not experts, an authentication,

but we'll advisor clients to use experts in to use. reputable experts who can examine the work and give an opinion about the style of the work. so these would be, are kind of words that can give you an opinion on the stylistic features of work. we also sometimes recommend clients use a forensic scientist to test the pigments to test the materials in the works to make sure that that they're correct for the artist. and then of course, we'll also sometimes use researchers to dig into the past of the work to see if the work had ever appeared on the art market. if it had gone to auction, you know, there are receipts information about the works and catalogs or exhibitions. and we say that those 3 aspects of authentication are like a 3 legged stool. so you kind of balance all of those considerations for that client can make it better determination about whether the work is authentic or

a forgery. and as lawyers, if a client does want to proceed with a purchase, as lawyers will prepare the legal documents and right those contract so that there is a problem down the line in the buyer could get his or her money returned. i think people are becoming more aware of, so they're doing a little more due diligence and the price is on the art marker. are really skyrocketing, so it's essential to protect your purchases. but we don't just do work with forgeries and authentication. so the art market hot right now, so i think a lot of lawyers is who are practicing in our law, are busy. how is the forgery market? what percentage of the art market is made up of forgeries? and can you give us a dollar amount of how much art per year is forged? so there are a lot of estimates on how large the market is for forgery is,

are with the percentage of works out there if they're ford or not. and i think those estimates go from 20 percent of the market storage to 50 percent of the market. and looking at those numbers, we ought to also consider what work through looking at. so i would say a lot of kind of lower market to middle market. there are more foraged, works in those markets, so works that are perhaps around $150000.00 and below. the more valuable or works that are sold for half a 1000000 or more people will conduct more due diligence. so it's less of the works or less expensive, there's not as much scrutiny and it's easier to pass those works on the market. so i would say probably the lower end of the market has more afford trees than the

upper end. so the works, we're seeing an auction houses that are selling for more time 1000000 for many millions of dollars. those are the ones that are probably less likely to be forged and how so our market use to longer money. yes. so order is a really valuable commodity that's easy to us. so the example that i'll give to my students is that if you're trying to transport $10000000.00 worth of cocaine as a really difficult thing to do, right? i mean, that's the illegal. ah, you'll get caught at customs. that's a very difficult criminal to actually accomplish. whereas transfer a $10000000.00 painting is much easier to do. in fact, some people will not declare those works. roll canvasses a role of campuses and their luggage or get smaller pieces that are

a value can seal them and cross the border with these, with these objects that are incredibly valuable. so are, has been used to launder money. it's a way to ship queen money if there are proceeds from illegal acts. that money can then be put into, or someone who is involved in organized crime, could then invest that money proceeds from drug trafficking or human try thinking and put that money. it's an artwork and then legitimately be able to, to sell it. now our world is the largest legal, unregulated industry in the world with global sales reaching over $64000000000.00 in 2019 and about 82 percent. a global sales of the art in that year were made in the u. s. the u. k. and china, the winners of this are obviously the criminals who treat the industry like a watering hole. artworks are faked, sold on the black market, and used to finance,

enlisted activities or launder ill gotten gains. they are easy to move as a painting smuggled into the united states was actually worth $8000000.00 for the shipment invoice, stated that it was only a $100.00. so the customs officer let the shipment through where it was hit it away at a secure warehouse for almost a decade before and resurfaced again. but now the industry is changing. there are calls to transparency to the art world, control that auction houses and art dealer's on how to avoid doing business with sanction individuals or acquiring the treasury to collect beneficial ownership information for companies formed or registered to do business in the country. in 2020 the e u and the u. k. adopted the 5th european m l directive and became the 1st section in the world to regulate the art trade. art traders are now perceived as financial

institutions and must follow the m. l requirements including due diligence checked art, dealer's must also report both wire and cash transactions above $10000.00. however, the international market was not sore throat about this, especially our dealers who argued that the regulation would bring about too much bureaucracy and eliminate the culture of privacy. while this is a step in the positive direction, the art market is an international segment and requires a coordinated global approach to combating money laundering for organized criminals . i'm christy. i thanks for watching and we'll see you back here next time on the cost of everything. ah ah,

the at the end of the 18th century britain began the illegal opium trade in china. this har drug causing addiction and literally destroying the human body, became a gold mine for business men from the foggy elvia. however, the ruling chinese jin dynasty tried to resist and to stop the illegal trade which provoked the wrath of the london business community. in 1840 without a declaration of war, the english fleet began to seize and plunder chinese coastal forts. the barley, armed and morally drained chinese army, was unable to provide adequate resistance. the ging empire was forced to hand hong kong over to england and opened his sports for trading the lethal goods. in 1856,

france and the united states joined in the robbery of china. the anglo french troops defeated the chinese occupied beijing and committed an unprecedented robbery . destroyed and blundered the wealth of the un, ming, you and palace. the defeat of the jing dynasty in the do opium wars lead to the transformation of the celestial empire into a semi colony of european states and started it's age of humiliation. and the sale of opium took on colossal proportions and led to the horrible deaths of millions of ordinary chinese. ah

ah us is a danger to the world as it is. and cuz it has all this economic power that it uses for the military. these are sick and twisted people that care about nothing but money empower. i'm not even hey, i think i think they're indifferent. they just want money empower and they don't they're indifferent to who dice and as long as they can get that money empower. ah, ah,

i will ensure that joe biden does not receive for more years. do you believe trump, as a general rule? no, never. we must conduct a top to bottom overhaul to clean out the festering rod and corruption of washington dc abided as pushing us to world war 3. i mean, i a you have to consider that. that is the worst. i mean, we should never be in a position the u. s. has no business in ukraine. ah, in with

a number of locals are public, are killed and wounded as the area. once again comes under your premium shelling a in the story is what shape when we look at the timeline of the bomb attack and st. petersburg, which killed the high profile russian war journalist and moved it around 40 other people in a renewed effort to engineer, decade long, complex key delegations, arriving yemen for peace. talk with coming to you live from the russian capital. this is the.