Cash from Street Drugs Provided Liquidity that Saved International Banks
By Mike Adams, January 27, 2009 | Key concepts: Bailout money, Drug trade and Banking crisis
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As international banks recently suffered the disastrous effects of a global liquidity crisis, they were saved by one thing: Cash from the illegal drug trade.
The United Nations Office on Drugs and Crime found that "interbank loans were funded by money that originated from drug trade and other illegal activities," and that "...some banks were rescued in that way."
In other words, to state it bluntly, the banks are being saved by people smoking crack!
Cash from the drug trade is the perfect "liquid capital" because people who buy street drugs don't put the charges on their credit cards (for obvious reasons). It's a cash business, and it stays in cash.
So remember this, kiddies: Smoke crack to save the banks! We've all got to do our part to create more bailout money! (That's satire, FYI.)
If you haven't yet hear the Bailout Money song, give it a listen here: http://www.naturalnews.com/I_Want_M...
From Iht.com: 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.... more
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