"The US Gov't asked banks to set up money laundering systems in the Carribean"

[dixiegrrrrl]

Catch Michael Hudson's comments at the 2: 00 mark on this segment of the Oracle.

http://www.youtube.com/watch?v=B6exR3egKMI

He states the US wanted to be the money laundering capital of the world in order to finance our various wars.
And that now we are in a race with Britain and Switzerland to continue that role.

You may have to replay parts to catch the whole thing...sound is a bit fuzzy.

edited to clarify time on video


Explains a whole lot, doesn't it?

[DJ13]

1. That explains why Stanford and Madoff were untouchable

I wonder how many other Ponzi schemes were being used to launder money.

[seemslikeadream]

3. and WHY they are NOT in jail

[seemslikeadream]

2. yea that was something, wasn't it?

Thanks for posting :hi:

[dixiegrrrrl]

5. Asking permission to steal the pogo stick....

[seemslikeadream]

6. permission granted

[notadmblnd]

4. I'll bet this was cheneys idea.

[Peace Patriot]

7. I don't really understand it, and my computer doesn't do YouTube very well.

Who is Michael Hudson? I'm confused about who was to be "the money laundering capital of the world"--the U.S. itself? On U.S. territory in the Caribbean? Outside U.S. territory? Could you just re-state this, simply, for me? "...Now we are in a race..."--who is "we"? Who is "in a race with Britain and Switzerland"? (I didn't know Britain was a big money launderer.)

[dixiegrrrrl]

8. ok....here

1. Michale Hudson is an economist.
from Wiki:
Highlights

The New School in New York City, where he taught previously, and UMKC, where he is currently a Distinguished Research Professor, are the main U.S. alternatives to Chicago School anti-government economics. He also lectures and publishes in association with UMKC at The Berlin School of Economics,

Hudson served as Chief Economic Advisor for Dennis Kucinich’s 2008 presidential campaign and holds the same position in Kucinich’s Congressional campaign. He has been economic advisor to the U.S., Canadian, Mexican and Latvian governments, to the United Nations Institute for Training and Research (UNITAR), and he is president of the Institute for the Study of Long-term Economic Trends (ISLET).

Hudson is a former balance-of-payments economist for Chase Manhattan Bank and Arthur Andersen, and economic futurist for the Hudson Institute (no relation). For Scudder, Stevens & Clark in 1990, he established the world’s first Third World sovereign debt fund, which became the second best performing international fund in 1991 (an Australian real estate fund was number one).

He is one of several economists, who like Keiser, and Denninger, see thru the smoke and mirrors.
He blurted out the "money laundering" thing on Keiser's weekly tv show from Paris.

Hudson essentially said that there were several big banking countries ( US, Britain, Switzerland ) competing to attract investments from people who need to hide money. Hudson worked for one of them, in 1966, Chase Manhatten.
The banks holding these funds canot be IN the sponsoring country, because of banking rules, which is why they are in the Caymans and bermuda and etc. So they have create subsidiaries in a country that agrees to not have any rules. Sorta like Halliburton made KBR a subsidiary to take the conractor rip off blame.
But a Swiss bank, UBS, musta pissed off somebody, since they are now being "investigated" by the USA and other countries.
In times like these, those at the top of the financial food chain tend to turn on each other, sorta
"King of the Hill" syndrome.

[Peace Patriot]

9. Hey, thanks for explaining it, Dixigrrrl! I appreciate it. nt

[dixiegrrrrl]

10. De nada....

I like to think of all this as watching a movie script in progress.
We got your drug and mafia money, looking for home, being cleaned up to support wars,
sorta Iran-contra part Deux.
We got coked up financial whiz kids making killer profits out of ,,,,air, essentially.
Politicians being bought and sold, whistlblowers being killed off...
I tell ya, this is going to be a HUGH series !
right now it is a toss up of Will Smith or Denzel being cast as Pres. O.
Maybe Gary Oldman on acid as Bushwhacker. Tho Brolin could reprise the role.

Feel free to add to the casting.