Collapse of the Capital Markets.

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Over the past six-eight years the MildGreens have often made the claim that were illicit drugs to be globally legally regulated, the capital markets would collapse. (cf: Narcodollars for Dummies, introduced to NZ’s SCOOP by the MildGreens). While our comment was aimed at the fiscal risk created by pump and dump when black money is laundered, the destabilised banking markets we see today are inseparable.

In a ringing endorsement of that claim the following headline substantially agrees.

U.N. crime chief says drug money flowed into banks
Reuters
Sunday, 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.”

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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.

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Reform, A Political Opportunity

Image via Wikipedia While much of the discussion (and protest) for change is very US centric it must not be forgotten that on a global scale the US acts cravenly, often under arms but more subtly through ‘international relations’ and delegations. Uncle Sam’s goal is to pervert the required ‘resolving of the tensions’ pushing its largely moral reformist (thus religious) policy position.

Americans pay dearly for this ideology, but so to does the rest of the world.

“It is often forgotten that health is the first principle of drug policy.” – Antonio Maria Costa, Executive Director, United Nations Office on Drugs and Crime.

Marijuana Law Reform No Longer a Political Liability, It’s a Political Opportunity

January 13th, 2009

Voting ended late last week on the President-Elect¹s website Change.gov. As was the case in December, questions from the general public pertaining to marijuana and drug policy reform proved to be extremely popular.

Of the more than 76,000 questions posed to Obama by the public, the fourth most popular question overall called on the incoming administration to cease arresting and prosecuting adults who use cannabis. And in the sub-category “National Security,” the most popular question posed by the public pertained to amending U.S. drug policies as a way to try and halt the ongoing violence surround illicit drug trafficking in Mexico and other nations. ( for more see http://blog.thehill.com/ article by Deputy Director Paul Armentano, National Organization for the Reform of Marijuana Laws )

The continuing arrogance of the US Congress/administration and its political and religiously deluded vehicle for maintaining the international ignominy of the “War on Drugs”, the Single Conventions and covenants, stands as the single biggest unresolved issue on this planet. It is in the way of even climate change and peace… so long as it is the single largest ‘fixable’ contributor to destabilised nation states, institutionalised corruption and chronic and systemic racist, ageist and sexist human rights abuse. Without wholesale reform of the drug laws the rest is just pretence for expediency. Non-feasance on a planetary scale. Seriously, political arses should be whupped for this devious practice of ‘self interest before others’.

Repudiate the Single Conventions on Narcotics – ‘for God’s Sake’

Blair Anderson
http://mildgreens.blogspot.com

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