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InvisibleveggieM

Registered: 07/25/04
Posts: 17,504
Drug dealers propping up the global economy
    #9703629 - 01/30/09 01:00 AM (15 years, 1 month ago)

UN Drug Chief Says Black Market Drug Profits Propped Up Global Banking System Last Year
January 30, 2009 - Drug War Chronicle

Profits from the global illicit drug trade helped keep the international banking system afloat during the crisis that swept the global financial system during the second half of last year, the UN's leading drug fighter said in an interview with the Austrian magazine Profil, which was made available Sunday. Drug money was almost the only available capital for banks, said Antonio Maria Costa, executive director of the UN Office on Drugs and Crime (UNODC).

Costa's remarks came as the Profil interviewer questioned him about the size of the global drug market. "If you look at agriculture markets, it is the most important," Costa replied. "According to our calculations, the wholesale value of illegal drugs is more than $90 billion, in the range of world meat and grain trade. The street trade, we assess at a volume of over $320 billion."

While profits from the illicit drug trade fund political violence by the likes of the Taliban or Colombia's leftist FARC insurgents and rightist paramilitaries, they are also finding their way into the coffers of the world banking system at a critical time, Costa said. The drug business is one of the few global growth industries right now, he noted.

"The drug trade at this time could be the only growth industry, with little unemployment," Costa explained. "The money that is being made is flowing only partly back into illegal activities, in parts of Asia, Africa, and South America, where it is used to bribe politicians, buy elections, or finance insurgents, such as the Talibans in Afghanistan, the Tamil Tigers of Sri Lanka, or the FARC in Colombia, for example."

The rest of the profit, Costa said, "is fed into the legal economic circulation through money laundering. We do not know how much, but the volume is imposing. As such, seen from the macroeconomic effect, this is simply bringing in investment capital. There are indications that these funds also ended up in the finance sector, which has been under obvious pressure since the second half of last year. In many instances, drug money is currently the only liquid investment capital, to buy real estate, for example," Costa continued. "In the second half of 2008, liquidity was the banking system's main problem and hence liquid capital became an important factor."

When pressed on just how this was accomplished, Costa responded: "It appears that interbank credits have been financed by money which comes from the drug trade and other illegal activities. It is naturally hard to prove this, but there are indications that a number of banks were rescued by this means."

Costa noted that money laundering controls put in place to stop drug trafficking have "ironically" resulted in drug traffickers sitting on large stashes of cash -- the ultimate liquid financial instrument. "To get around the electronic surveillance of bank transactions, now criminals stash their funds in cash sums which can be up to hundreds of millions of dollars. This is the way they try to hold these funds liquid."

There go those drug dealers propping up the global economy.


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Offlinepsilyguy
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Re: Drug dealers propping up the global economy [Re: veggie]
    #9703681 - 01/30/09 01:14 AM (15 years, 1 month ago)

Drugs can do great things  :yesnod:

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OfflineWeedy
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Registered: 01/11/09
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Re: Drug dealers propping up the global economy [Re: psilyguy]
    #9704256 - 01/30/09 05:36 AM (15 years, 1 month ago)

Fuckin aye, I always told everyone drugs played a huge role in the world. This is proof! LOL  :rockon:

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Offlineneopet nub
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Registered: 11/29/08
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Re: Drug dealers propping up the global economy [Re: Weedy]
    #9704331 - 01/30/09 06:23 AM (15 years, 1 month ago)

Why would the UN drug chief admit this?


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Ego death from weed!

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Offlinemycoharry
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Re: Drug dealers propping up the global economy [Re: neopet nub]
    #9704483 - 01/30/09 07:58 AM (15 years, 1 month ago)

because its true


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we create realitys in our minds based on our own experiences, rather than fact. my experiences in life have been insane, so in reality i am in fact, INSANE...
-ME

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OfflineCosmicFunGuy
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Re: Drug dealers propping up the global economy [Re: mycoharry]
    #9704498 - 01/30/09 08:06 AM (15 years, 1 month ago)

Quote:

neopet nub said:
Why would the UN drug chief admit this?




Quote:

mycoharry said:
because its true




but they lie all the time...

the reason is they can't run from the truth anymore, because the age of information (thanks world wide web) has shown the light to a substantially large portion of independent thinkers who won't let 'them' get away with the lying for much longer. same reasons why cannabis law is finally beginning to change.


on top of that, without drugs they'd be fucked. we (as users, dealers, growers and movers) do keep the world running. we are a necessary part of the world economy, that is if we don't want it to collapse entirely. hell we could even fix the failing global economy (particularly, the US failing economy) by legalizing, taxing and regulating all drugs.


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♫ ♪ In the garden of many fields, there is no me or you. There is no right or wrong. There is no up or down. There is no black or white. Everyone is the plow man. Everyone is the seed. Everyone harvests and everyone yields. In the garden of many fields, everyone is one with one love and one love is one with everyone. ♪ ♫
lyrics from: Transglobal Underground - Eyeway Souljah (from Psychic Karaoke)

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Offlinemycoharry
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Re: Drug dealers propping up the global economy [Re: CosmicFunGuy]
    #9704554 - 01/30/09 08:31 AM (15 years, 1 month ago)

we are a "necesary evil" as they say.


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we create realitys in our minds based on our own experiences, rather than fact. my experiences in life have been insane, so in reality i am in fact, INSANE...
-ME

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Invisibletimekiller
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Re: Drug dealers propping up the global economy [Re: mycoharry]
    #9704832 - 01/30/09 09:57 AM (15 years, 1 month ago)

this is the only good reason for drugs to be illegal: money. sad, huh?
illegal drug money makes the world go round. I feel sorry for the dumb bastards who actually think the government cares about their health and safety.


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SATAN?

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OfflineDr.Myco87
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Re: Drug dealers propping up the global economy [Re: timekiller]
    #9705023 - 01/30/09 10:47 AM (15 years, 1 month ago)

^^ Yeah but what they don't think about is how much money could be made by legalizing, taxing, and regulating all substances. Not to mention all the lives that would be saved thanks to having clean drugs, finally.


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"I don’t do drugs. I am drugs."                -Salvador Dali

"I’ve never had a problem with drugs. I’ve had problems with the police."                                          -Keith Richards

"Reality is a crutch for people who can’t cope with drugs."                                          -Lily Tomlin


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Offlineacid_kiss
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Re: Drug dealers propping up the global economy [Re: veggie]
    #9705110 - 01/30/09 11:10 AM (15 years, 1 month ago)

But legalizing and taxing pot would destroy America.  Nope, lets try giant inflation and debt packages to increase the size of the government. That will work :rolleyes:

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Invisibletimekiller
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Re: Drug dealers propping up the global economy [Re: Dr.Myco87]
    #9705234 - 01/30/09 11:34 AM (15 years, 1 month ago)

Quote:

Dr.Myco87 said:
^^ Yeah but what they don't think about is how much money could be made by legalizing, taxing, and regulating all substances. Not to mention all the lives that would be saved thanks to having clean drugs, finally.




But that would be putting money in the pockets of small business owners, and going to taxes that are (supposed to be) put back into the community, rather than lining the pockets of rich bank owners and politicians who take money from cartels and organized crime to keep it illegal so they don't go out of business. there's too many dumb redneck conservative Reaganites, that still have the "drugs are just bad" mentality, and will never vote in favor of any kind of sensible drug policy or even elect someone that would. even a politician who favors drug reform, will do nothing in favor of keeping all sides happy, they're all puppets and they do what they're told, what they're told is what's in the best interest of the rich (the ones with money have power), and what's in the best interest of the rich is to keep drugs illegal, and that's what continues to feed this corrupt war on drugs. were all fucked, until the ignorant bastards who vote against drug law reform die out.


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SATAN?

Edited by timekiller (01/30/09 12:47 PM)

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Offlinesorahtak
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Registered: 07/02/08
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Re: Drug dealers propping up the global economy [Re: veggie]
    #9705365 - 01/30/09 11:59 AM (15 years, 1 month ago)

Meh. Doesn't really matter, in my opinion. As long as we coordinate our resources as a society with the abstract economical voodoo that is our current monetary system, someones getting the short end of the stick either way.


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Offlinekman980
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Registered: 03/28/08 Happy 16th Shroomiversary!
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Re: Drug dealers propping up the global economy [Re: sorahtak]
    #9705453 - 01/30/09 12:27 PM (15 years, 1 month ago)

The end of the great depression was brought about by war.
The end of our recession will be brought about by the legalization of weed (which brings about the benefits of hemp).
Hopefully our new president will have the balls to put corporate america in their place.


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When all else fails to organize people, conditions will.

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Offlineneopet nub
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Registered: 11/29/08
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Re: Drug dealers propping up the global economy [Re: kman980]
    #9710658 - 01/31/09 08:39 AM (15 years, 1 month ago)

I doubt Obama will do anything.  He has very little to gain from it, since most people are not fully entrenched in the idea of legalized drugs.

I think every drug should be legal, but there should be strict age limmits on drugs like meth.


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Ego death from weed!

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InvisibleMisterMuscaria
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Re: Drug dealers propping up the global economy [Re: neopet nub]
    #9710682 - 01/31/09 08:47 AM (15 years, 1 month ago)

But if drugs were legal all the drug dealers would be out of a job! :gc:

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OfflineWeedy
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Re: Drug dealers propping up the global economy [Re: MisterMuscaria]
    #9721201 - 02/02/09 04:56 AM (15 years, 1 month ago)

Meth should not even be a fucking option, thats almost on the lines of saying herion should be legal. Only drugs that should be legal are weed and shrooms. But some fucks ruined the shrooms for us in like what, 2004?? Weeds only been illegal since like 1938 too. Plus they both come from mother earth, no "processing" really required. But like stated, it wont happen, if anything they will lower the punishments on certain ones like weed.

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Offlinepsilyguy
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Re: Drug dealers propping up the global economy [Re: Weedy]
    #9723798 - 02/02/09 04:27 PM (15 years, 1 month ago)

Quote:

Weedy said:
Meth should not even be a fucking option, thats almost on the lines of saying herion should be legal. Only drugs that should be legal are weed and shrooms. But some fucks ruined the shrooms for us in like what, 2004?? Weeds only been illegal since like 1938 too. Plus they both come from mother earth, no "processing" really required. But like stated, it wont happen, if anything they will lower the punishments on certain ones like weed.



:crankey: i think both meth and heroin should be legal! Nobody should be able to tell anyone else what they can and cannot do with their own life

edit: and what are you talking about shrooms and 2004? UN scheduled them in 1971.

Edited by psilyguy (02/02/09 05:09 PM)

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Offlineneopet nub
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Re: Drug dealers propping up the global economy [Re: psilyguy]
    #9723976 - 02/02/09 04:54 PM (15 years, 1 month ago)

Yeah, when I first starting reading shroomery, I had the same views as you Weedy, but I have changed to realize that no matter what, there will always be demand for those drugs and regulation is the best way to lower this demand.


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Ego death from weed!

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