Email Our Editor

Join Our Mailing List

View Our Archives

Search our archive:

The Last 20 Days' Editorials

2/6/2023 "The Black Economy 50 Years After The March On Washington"

Email This Article  Printer Friendly Version

Dope Money IV

For over a year, in writing, I have continued to point out the role of U.S. banks in the laundering of dirty drug money proceeds. We have continued to show how the U.S. Department of Treasury and the Justice Department have caught major U.S. banks in the act of money laundering and yet have not stripped a single one of these banks of their charters or right to do business.

Now we learn from the Washington Post of how U.S. banks and corporations are playing a leading role in the laundering of drug money into and out of Columbia. Yet and still all we here about is how Columbia must do more to stop the drug trade. There is no way that the amount of money that is being brought in and out of Columbia and laundered through U.S. banks could flow without the knowledge and even cooperation of bank officials.

Yet, the U.S. government does nothing, even when they catch a bank in the act. Like in the case of Raul Salinas and Citibank. Instead, the bank, now known as Citigroup, after it is under review for money laundering violations, attracts the former U.S. Secretary of the Treasury to help run its daily bank operations. Talk about a conflict of interest - a bank under investigation by the U.S. government for money laundering violations, hires the former U.S. Secretary of the Treasury, less than 1 year after he leaves office.

Here is the Washington Post article that details the latest episode in the government's phony "War on Drugs". Notice how, in the story, the identities of the banks in question are protected.

Oh no, to Drug Czar Barry McCaffrey the war on drugs includes only local crack dealers and foreign countries, never U.S. banks that do more to facilitate the world wide drug trade than any drug kingpin.

Please read the article in its entirety, soon, I will devote A Deeper Look to the drug war charade and how both the Justice and Treasury Departments are protecting multinational banks.

Cedric Muhammad

Thursday, August 31, 2000

To discuss this article further enter The Deeper Look Dialogue Room

The views and opinions expressed herein by the author do not necessarily represent the opinions or position of or Black Electorate Communications.

Copyright © 2000-2002 BEC