Thursday, January 29, 2009
Drug Money & Banks
Crime Chief Says Drug Money Flowed Into Banks
ReutersPublished: January 25, 2009
VIENNA: The United Nations' crime and drug watchdog has indications that money made in illicit drug trade has been used to keep banks afloat in the global financial crisis, its head was quoted as saying on Sunday.
Vienna-based UNODC Executive Director Antonio Maria Costa said in an interview released by Austrian weekly Profil that drug money often became the only available capital when the crisis spiralled out of control last year.
"In many instances, drug money is currently the only liquid investment capital," Costa was quoted as saying by Profil. "In the second half of 2008, liquidity was the banking system's main problem and hence liquid capital became an important factor."
The United Nations Office on Drugs and Crime had found evidence that "interbank loans were funded by money that originated from drug trade and other illegal activities," Costa was quoted as saying. There were "signs that some banks were rescued in that way."
Profil said Costa declined to identify countries or banks which may have received drug money and gave no indication how much cash might be involved. He only said Austria was not on top of his list, Profil said.
(and this article followed the one above)
VIENNA: The United Nations' crime and drug watchdog has indications that money made in illicit drug trade has been used to keep banks afloat in the global financial crisis, its head was quoted as saying on Sunday.
Vienna-based UNODC Executive Director Antonio Maria Costa said in an interview released by Austrian weekly Profil that drug money often became the only available capital when the crisis spiralled out of control last year.
"In many instances, drug money is currently the only liquid investment capital," Costa was quoted as saying by Profil. "In the second half of 2008, liquidity was the banking system's main problem and hence liquid capital became an important factor."
The United Nations Office on Drugs and Crime had found evidence that "interbank loans were funded by money that originated from drug trade and other illegal activities," Costa was quoted as saying. There were "signs that some banks were rescued in that way."
Profil said Costa declined to identify countries or banks which may have received drug money and gave no indication how much cash might be involved. He only said Austria was not on top of his list, Profil said.
(and this article followed the one above)
The author of the following article was at one time the British ambassador to Uzbekistan.
Britain is Protecting the Biggest Heroin Crop of All Time
By CRAIG MURRAY
In six years, the occupation has wrought one massive transformation in Afghanistan, a development so huge that it has increased Afghan GDP by 66 per cent and constitutes 40 per cent of the entire economy. That is a startling achievement, by any standards. Yet we are not trumpeting it. Why not?
The answer is this. The achievement is the highest harvests of opium the world has ever seen.
The Taliban had reduced the opium crop to precisely nil. I would not advocate their methods for doing this, which involved lopping bits, often vital bits, off people. The Taliban were a bunch of mad and deeply unpleasant religious fanatics. But one of the things they were vehemently against was opium.
That is an inconvenient truth that our spin has managed to obscure. Nobody has denied the sincerity of the Taliban's crazy religious zeal, and they were as unlikely to sell you heroin as a bottle of Johnnie Walker.
They stamped out the opium trade, and impoverished and drove out the drug warlords whose warring and rapacity had ruined what was left of the country after the Soviet war.
That is about the only good thing you can say about the Taliban; there are plenty of very bad things to say about them. But their suppression of the opium trade and the drug barons is undeniable fact.
Now we are occupying the country, that has changed. According to the United Nations, 2006 was the biggest opium harvest in history, smashing the previous record by 60 per cent. This year will be even bigger.
Our economic achievement in Afghanistan goes well beyond the simple production of raw opium. In fact Afghanistan no longer exports much raw opium at all. It has succeeded in what our international aid efforts urge every developing country to do. Afghanistan has gone into manufacturing and 'value-added' operations.
It now exports not opium, but heroin. Opium is converted into heroin on an industrial scale, not in kitchens but in factories. Millions of gallons of the chemicals needed for this process are shipped into Afghanistan by tanker. The tankers and bulk opium lorries on the way to the factories share the roads, improved by American aid, with Nato troops.
In six years, the occupation has wrought one massive transformation in Afghanistan, a development so huge that it has increased Afghan GDP by 66 per cent and constitutes 40 per cent of the entire economy. That is a startling achievement, by any standards. Yet we are not trumpeting it. Why not?
The answer is this. The achievement is the highest harvests of opium the world has ever seen.
The Taliban had reduced the opium crop to precisely nil. I would not advocate their methods for doing this, which involved lopping bits, often vital bits, off people. The Taliban were a bunch of mad and deeply unpleasant religious fanatics. But one of the things they were vehemently against was opium.
That is an inconvenient truth that our spin has managed to obscure. Nobody has denied the sincerity of the Taliban's crazy religious zeal, and they were as unlikely to sell you heroin as a bottle of Johnnie Walker.
They stamped out the opium trade, and impoverished and drove out the drug warlords whose warring and rapacity had ruined what was left of the country after the Soviet war.
That is about the only good thing you can say about the Taliban; there are plenty of very bad things to say about them. But their suppression of the opium trade and the drug barons is undeniable fact.
Now we are occupying the country, that has changed. According to the United Nations, 2006 was the biggest opium harvest in history, smashing the previous record by 60 per cent. This year will be even bigger.
Our economic achievement in Afghanistan goes well beyond the simple production of raw opium. In fact Afghanistan no longer exports much raw opium at all. It has succeeded in what our international aid efforts urge every developing country to do. Afghanistan has gone into manufacturing and 'value-added' operations.
It now exports not opium, but heroin. Opium is converted into heroin on an industrial scale, not in kitchens but in factories. Millions of gallons of the chemicals needed for this process are shipped into Afghanistan by tanker. The tankers and bulk opium lorries on the way to the factories share the roads, improved by American aid, with Nato troops.
