Cash from organized crime 'rescued' banks during crisis: UN official

Cash from organized crime 'rescued' banks during crisis: UN official

rawstory.com

The vast majority of an estimated $352 billion in proceeds of organized crime, mostly from the drug trade, was funneled through the global banking system during the financial crisis of the past two years, and in some cases, the money rescued banks from collapse, says the head of the UN Office on Drugs and Crime.

Antonio Maria Costa told the UK Observer that intelligence agencies and prosecutors alerted him 18 months ago to evidence that drug money was being "absorbed into the financial system."

"In many instances, the money from drugs was the only liquid investment capital," Costa sa

(visit the link for the full news article)



[edit on 13-12-2009 by whaaa]

Somehow this doesn't surprise me. I've always felt that there was a closer, but secret connection between organized crime and what passes for legitimate financial institutions, government regulatory agencies, and corporate America in general. There is no way for the ordinary citizen to actually know where big money is hidden, where it comes from, how it is used and how it is created. There is a hidden financial world; the stock mkt. doesn't accurately reflect the transactions in the world. This imo is where the real NWO resides and how the illuminati operates.

I also question what part the Vatican, the Masons, secret orginazations such as the CIA, Mossad, plays in international banking/trade.


rawstory.com
(visit the link for the full news article)


[edit on 13-12-2009 by whaaa]

Oh, the headline mislead me... I thought that they were talking about the organized crime syndicates known as The Federal reserve and the IRS! As those two criminal cabals DID finance the bailouts with our tax dollars that they illegally seized from us.

"Organized crime" cash does more for the legit economy than most people realize or want to admit. Modern Miami is a good example. It was built almost entirely with coc aine money.

If you take just the drug trade in America it amounts to billions upon billions of dollars. Multiply that worldwide and you have one huge amount of money laundering going on. And if you think all those billions of dollar are sitting in secret walls in king pin houses around the world I'd say A HUGE part of corporate American wealth especially in the financial sector is tied to the drug trade.

I know for a fact a local taco chain here in Southern Ca. that was started with proceeds from marijuana drug trade.

Actually that would have been a very clever way to substitute monitized cash (money already registered in circulation) with fresh bills recently printed that had never been monetized.

Trading narco and crime dollars for uncirculated bills by people who seldom use their cash hordes would have kept the newly minted currency from becoming monetized and inflating the amount of currency in circulation whick leads to inflation.

The criminal syndicates would have done themselves a favor in this regard by helping to keep the value of their horded cash relatively stable.

They would have also been doing the government a favor for if the dollar started dropping drastically in value the syndicates would have just dumped their dollar reserves for Euros or Gold and and caused the dollar to slide even further.

Ah nothing like one of those happy stories where everyone goes home a winner!

reply to post by TheComte



I had no idea the world wide underground economy was so huge.

econpapers.repec.org...

What is known is more than likely just a fraction of reality.

As they say "Money talks and BS walks."

reply to post by whaaa


Already being talked about here www.abovetopsecret.com...

Originally posted by Max_TO
reply to post by whaaa

 

Already being talked about here www.abovetopsecret.com...

You're correct. Shut this one down please MODs

[edit on 13-12-2009 by whaaa]

Don't ask the UN about the IRAN oil for drugs program.
Who's the crook.
ED: Oops, oil for food program:



[edit on 12/13/2009 by TeslaandLyne]

Closing per request,

Please post on the other linked thread,

Thanks!
Asala