Monday, January 26, 2009

UN Crime Chief Says Drug Money Is Saving Banks

The idea that illegal drug money is tied in with the central banks and that this 'cash flow' has helped keep them afloat and in power in not new. Some have been saying this for years.

What's interesting is that an official of the UN has now talked about drug money in the context of the current global financial crisis.

Can anyone now doubt that controlling the drug trade in Afghanistan for the benefit of the occupiers and the central banks is not a big part of that war? One reason for the coming 'surge' there?

The 'War on Terror', the 'War on Drugs' and the financial war on the citizens are intimately linked.

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)

source: Reuters

hat tip to aangirfan and Drug War Rant

Also see: Obama administration warns public to expect rise in US casualties (in Afghanistan and Pakistan)

1 comment:

  1. When the Taliban were in charge of Afghanistan, they had almost eradicated the poppy fields.

    Within years of the US invading, the poppy fields started growing in numbers to the point that today, opium coming out of Afghanistan is hitting record numbers.

    Banks and intelligence agencies like the CIA are raking in billions from this activity.

    All backed up by the armed might of the Pentagon.

    But try growing a couple of weeds on the back of your place and see what happens.