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Roya A.

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Drug money saving the economy?
Jul 9, 2010

Antonio Maria Costa, head of the UN Office on Drugs and Crime claims he has seen evidence of proceeds of organized crime being absorbed into our economic system. This means that the money originated from the drugs trade and other possible ILLEGAL activites, has actually saved banks on the brink of collapse during the economic crisis over the past year. Will this become an excuse to justify crimes such as the drug trade simply because they saved our economy?

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Violet Mbiti

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Re: Drug money saving the economy?
Jul 12, 2010

This shouldn't be an excuse of saving the economy.So many people die everyday due to deaths attributed to drug use.For example in the coastal town of Mombasa in Kenya,youths have succumbed to drugs and are now not productive members of the Kenyan economy.I believe you can't justify deaths with saving the economy.You have to make a choice and stand by your belief and am saying NO to drug money.


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Clovis Maia

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Re: Drug money saving the economy?
Jul 12, 2010

Please, could you provide references - links where we can confirm such facts?


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Michael Dadona

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Re: Drug money saving the economy?
Jul 12, 2010

I agree with and to the "casmaia" request for the news source link. There are many versions on internet said by Antonio Maria Costa on this issue.

As DIW (Discipline In Writing) is concerned, TIG members must provide source link or related data reference to any say or says, not just to provide quality continual type of discussions on here, but, it also shown that TIG management team prioritized high DIW in one discussion to publish a quality discussion on internet for netizens across the globe to read.


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Brian

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Re: Drug money saving the economy?
Jul 13, 2010

Ok here is my take on that. The sale of illegal drugs controlled by the government is nothing new. If you look at what is in the drugs that are prescribed to the public for many various reasons and conditions, it is the same thing that an addict on the street would hunger for. Hence the problem with people getting addicted to prescription meds. Yes it is less concentrated and safer in a way, but it is still the same classification of narcotic. For example, Oxycontin is being sold on the street in massive numbers. This drug is meant to treat moderate to severe pain and delivers a high not unlike that of heroin. It even has the alias "Hillbilly Heroin" (http://www.justice.gov/dea/concern/oxycontin.html). The drug is purchased in a pharmacy and then sold in the streets. The government makes money off the sale of the drug to the patient. Now the person selling the drug illegally has to do something with all the money. The massive amounts of money made by the seller then are circulated back to the economy. Cars, Homes, and other major purchases require credit. That is where the bank comes into play. The bank makes their money and in turn so does the government. I feel that the sale of illegal drugs is a very important issue that has to be dealt with and is not a good excuse to try and boost the economy. At the same time, I do feel like it has had a positive effect on the falling economy. Please feel free to debate my post.


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Roya A.

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Re: Drug money saving the economy?
Jul 14, 2010

sorry guys,
i have been away for awhile but in reply to your demand for sources I have provided two links that have stated the same information and fact regarding this topic.


http://www.climateimc.org/en/breaking-news/2010/06/23/lowering-boom-g820-pm-stephen-harper-corrupt-g lobal-banks-big-oil-gas-coal


http://floodiceorfire.wordpress.com/lowering-the-boom-on-g8-20-pm-stephen-harper-corrupt-global-bank s-big-oil-gas-coal-and-nuclear-corp-madmen/


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Roya A.

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Re: Drug money saving the economy?
Jul 14, 2010

In reply to what Brian has said, I completely agree. Unfortunately it is a vicious cycle and it seems like nowadays corruption has become a normal thing that happens all around us! People have tried to fight it throughout the past but they have not been successful at all. So is there anything left for us to do in order to fight it or better yet to stop it?


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Michael Dadona

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Antonio Maria Costa must comes up with the said evidence
Jul 16, 2010

Thanks for the source links; climateimc.org and loodiceorfire.wordpress.com

After reading the articles, now I understand why the British Bankers Association needs he (Antonio Maria Costa a.k.a. Costa) to comes up with the evidences because he said "have seen".

Normally and to be the first and foremost, any official statement made by UN's top rank people must has comes up with the salient and related document materials on specific issue.

Secondly, I din't found any related article for what motive Costa raised up this issue. Does it driven by making an international political statement or financial activity report to be heard by the world population.

Thirdly, after the swine flu vaccine issue marred with the drug companies support on the statement made by WHO's top rank group, now people more cautious on listening to this kind of stats. The worse part, it has made the U.S. government losses $million due to the vaccine's expiry date.

Whatever, let us look and see how this claim made by Costa goes to the end because there is logic thinking about it as many countries had involved in middle-east war which is almost 10 years fallen to insolvency.

If that so, it means that all the Drug Kings really enjoyed their money laundering "legit" activities. What a fortunate one!

p.s. this post is very famous as it has been ranked at the top in major SERP.


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Clovis Maia

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Re: Drug money saving the economy?
Jul 16, 2010

I do agree with Mr. Dadona.

Thank you Mr. Roya for the links, but the evidence displayed there is weak.

I do not doubt that money drug was (and it is being right now) laundered - but it does not look plausible that it was the main component to "save the economy".

The "illegal" money, despite being illegal, has been a component of the economy for a long time - just like almost every other commonly used product (rice, corn or cars). And just like the others, it has ups and downs for various reasons. I just do not see why, suddenly, during the crisis this money would be the driving factor of economy - it was there before, and it is there now, and it would be wrong to think that *only during the crisis* it was possible to laundry it. Again, it is being laundered (easily!) right now.

I tend to believe that some banks may have more easily accepted "suspicious" transactions if they were desperately needing liquidity - we can expect everything from bankers - but it would only have made the illegal money a little bit easier to laundry. For example, instead of losing 10% of the illegal money in the laundry process, the drug lord may have saved 5% due to a easier path laid by any banker. Still, how to account it all as a driving force in economy? Not likely.

My regards.


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jodevizes

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Re: Drug money saving the economy?
Jul 17, 2010

Having already posted on this, I believe that this could be the truth, however improbable. The really top drug boys have a disgusting amount of disposable cash at their command and really do have a problem to channel it into a realistic and legal method of disposal because of the serious financial controls being applied to all financial transactions.

Sadly none is being channeled into my bank account so the authorities must do the best they can.
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Muhammad Ahmad Raza

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Re: Drug money saving the economy?
Jul 23, 2010

dont under stand????


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Muhammad Ahmad Raza

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Re: Drug money saving the economy?
Jul 23, 2010

what's next


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jodevizes

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Re: Drug money saving the economy?
Jul 24, 2010

Hopefully the total legalising of all drugs so that the tax payers wont have to keep paying for this un-winable war against drugs. It has been going on for a at least seventy years and it is no nearer to being won now than when it started.
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neel

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Re: Drug money saving the economy?
Aug 3, 2011

Not sure about the facts but, not acceptable at all if the economy is based on drug money no matter which country it may be.
smile
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chijinco

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Re: Drug money saving the economy?
Oct 1, 2011

Sometimes one cannot imagine what some leaders does to make their terms in office look better than that of their predecessors. Anyway i am not suprise that such could happened.


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