How Much Of The Federal Debt Is Financed With Drug Money?

[KoKo]

How Much Of The Federal Debt Is Financed With Drug Money?
Joe Weisenthal|Feb. 18, 2009, 4:42 PM

http://static.10gen.com/businessinsider/~~/f?id=499c7e0b4b54371300cce270&maxX=357&maxY=199

Allen Stanford forfeited $3 million in drug money back in 1999, and it's a sure thing that within his multi-billion empire he had many more drug dollars under his care. This is true not just of Stanford, but of the whole Caribbean offshore banking complex, as drug dealers are obviously interested in the regulation-light, few-questions-asked private banking system.

Offshore banks, meanwhile, have grown rapidly as major purchasers of US treasuries over the years. As you can see in the chart below, they really spiked in the 04-05 range, right as Japanese holdings leveled off. According this table, Caribbean banks are now the fourth biggest holders of treasuries, having surpassed Brazil and all the oil states combined in just the last year.

So again, how much drug money goes into financing our debt?

http://www.businessinsider.com/how-much-of-the-federal-debt-is-financed-with-drug-money-2009-2

[Tandalayo_Scheisskopf]

1. Haven't all sorts of people...

Like Al Giordano, even Chomsky been saying this for years? In the movie "Cocaine Cowboys" the main protagonist/antagonist(he is both...) "Mickey" points out that the Miami skyline was transformed by, and Florida banks grew quite rich with laundered drug monies, while the dealers were very active in the Florida Republican Party.

There is nothing new in this revelation, but I suppose it needs to be pointed out again and again. Maybe someday, we will address this issue in a sane and organized manner. Until then, I guess we will stumble along while the bodies pile ever higher and the perpetrators, the real ones, the big boys, grow ever richer.