nabraxas Posted December 13, 2009 Drugs money worth billions of dollars kept the financial system afloat at the height of the global crisis, the United Nations' drugs and crime tsar has told the Observer.Antonio Maria Costa, head of the UN Office on Drugs and Crime, said he has seen evidence that the proceeds of organised crime were "the only liquid investment capital" available to some banks on the brink of collapse last year. He said that a majority of the $352bn (£216bn) of drugs profits was absorbed into the economic system as a result. more: http://www.guardian.co.uk/global/2009/dec/13/drug-money-banks-saved-un-cfief-claims Share this post Link to post Share on other sites
apothecary Posted December 14, 2009 "Inter-bank loans were funded by money that originated from the drugs trade and other illegal activities... There were signs that some banks were rescued that way." Costa declined to identify countries or banks that may have received any drugs money, saying that would be inappropriate because his office is supposed to address the problem, not apportion blame. But he said the money is now a part of the official system and had been effectively laundered. This is pretty much word for word what Bear was saying would happen when he spoke EGA... Share this post Link to post Share on other sites
