DisgruntledTunaFan

UN crime chief says drug money flowed into banks | Markets | Markets News | Reuters

VIENNA, Jan 25 (Reuters) - The United Nations' crime and drug watchdog has indications that money made in illicit drug trade has been used to keep banks afloat in the global financial crisis, its head was quoted as saying on Sunday.

Vienna-based UNODC Executive Director Antonio Maria Costa said in an interview released by Austrian weekly Profil that drug money often became the only available capital when the crisis spiralled out of control last year.

"In many instances, drug money is currently the only liquid investment capital," Costa was quoted as saying by Profil. "In the second half of 2008, liquidity was the banking system's main problem and hence liquid capital became an important factor."

The United Nations Office on Drugs and Crime had found evidence that "interbank loans were funded by money that originated from drug trade and other illegal activities," Costa was quoted as saying. There were "signs that some banks were rescued in that way."

Profil said Costa declined to identify countries or banks which may have received drug money and gave no indication how much cash might be involved. He only said Austria was not on top of his list, Profil said. (Reporting by Boris Groendahl; Editing by Charles Dick)

PressCoverage

ah yes,.... the taboo subject of corporate drug money laundering... no one wants to touch that subject.... it gets journalists killed (though, that perhaps pleases our resistent Moonie)....

this is NOTHING new, and has been going on for decades..... at this point, it's really beyond ANY reasonable debate that the corporatocracy -- backed by Pappa Bush's CIA -- have been bringing in drugs, AND keeping the economy alive with $500-800 BILLION dollars annually in drug trade profits....

Just take a look at Citigroup's purchase of notorious Banamex in Mexico as a perfect example. ... Do a simple google search on that one...

It is written that if drug trade ended tomorrow, monetary society would collapse within 6 weeks.

There was no "war on drugs".... Never was. They want you high and stupid.

Watch Michael Ruppert confront CIA chief John Deutsch about crack CIA importation to Los Angeles:

http://www.youtube.com/watch?v=4t3pl5Wxgyg

patsfan13

ALL BUSH????

Wow, guess the fact that Clintonistas were bigwigs at Citi is just a coindinence, & Mena Ark is just a figment of everyone's imagination. I don't doubt that there is much corruption associated with the drug trade across the board.

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"Some guys play in all-star games, some guys don't. I don't know who picks all those all-star teams. In all honesty, I don't know who picks the combine, for that matter," Belichick said. "How does (Miami-Ohio offensive lineman Brandon) Brooks not get invited to the combine? How did Vollmer not get invited to the combine? I don't know. We can't really worry about that. We just have to try to evaluate them the best we can."

Leave No Doubt

[QUOTE=PressCoverage;1264467]ah yes,.... the taboo subject of corporate drug money laundering... no one wants to touch that subject.... it gets journalists killed. It is written that if drug trade ended tomorrow, monetary society would collapse within 6 weeks.


The 800b dollar Drug Money Economy a/k/a the proverbial 800 lb elephant in the room that everybody ignores.
Throw in the slave labor market it creates and we have an entire economy base. Afghanistan now produces 80-90% of the world's heroin; big business.
Gold
Oil
Drugs

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edit...2012 BABY!

PressCoverage

Did I say "all Bush?" .... Did I not mention Mena airport and Clinton regarding federal drug trade on this very forum some half dozen times? What are you ever talking about?