Top Scoops

Book Reviews | Gordon Campbell | Scoop News | Wellington Scoop | Community Scoop | Search

 

The Real Deal: The Ultimate New Business Cold Call

Narco-Dollars For Dummies (Part 3)
How The Money Works In The Illicit Drug Trade

Part 3 in a 13 Part Series
By Catherine Austin Fitts
First published in the Narco News Bulletin

EARLIER PARTS TO THIS SERIAL...
Part 1 - Narco Dollars For Dummies
Part 2 - Sam & Dave Do White Substances

******


NYSE Chairman Richard Grasso Embracing A FARC Commander

A Real World Example:
NYSE's Richard Grasso and the Ultimate New Business "Cold Call"

Lest you think that my comment about the New York Stock Exchange is too strong, let's look at one event that occurred before our "war on drugs" went into high gear through Plan Colombia, banging heads over narco dollar market share in Latin America.

In late June 1999, numerous news services, including Associated Press, reported that Richard Grasso, Chairman of the New York Stock Exchange flew to Colombia to meet with a spokesperson for Raul Reyes of the Revolutionary Armed Forces of Columbia (FARC), the supposed "narco terrorists" with whom we are now at war.

The purpose of the trip was "to bring a message of cooperation from U.S. financial services" and to discuss foreign investment and the future role of U.S. businesses in Colombia.

Some reading in between the lines said to me that Grasso's mission related to the continued circulation of cocaine capital through the US financial system. FARC, the Colombian rebels, were circulating their profits back into local development without the assistance of the American banking and investment system. Worse yet for the outlook for the US stock market's strength from $500 billion - $1 trillion in annual money laundering - FARC was calling for the decriminalization of cocaine.

To understand the threat of decriminalization of the drug trade, just go back to your Sam and Dave estimate and recalculate the numbers given what decriminalization does to drive BIG PERCENT back to SLIM PERCENT and what that means to Wall Street and Washington's cash flows. No narco dollars, no reinvestment into the stock markets, no campaign contributions.

It was only a few days after Grasso's trip that BBC News reported a General Accounting Office (GAO) report to Congress as saying: "Colombia's cocaine and heroin production is set to rise by as much as 50 percent as the U.S. backed drug war flounders, due largely to the growing strength of Marxist rebels"

I deduced from this incident that the liquidity of the NY Stock Exchange was sufficiently dependent on high margin cocaine profits (BIG PERCENT) that the Chairman of the New York Stock Exchange was willing for Associated Press to acknowledge he is making "cold calls" in rebel controlled peace zones in Colombian villages. "Cold calls" is what we used to call new business visits we would pay to people we had not yet done business with when I was on Wall Street.

I presume Grasso's trip was not successful in turning the cash flow tide. Hence, Plan Colombia is proceeding apace to try to move narco deposits out of FARC's control and back to the control of our traditional allies and, even if that does not work, to move Citibank's market share and that of the other large US banks and financial institutions steadily up in Latin America.

Buy Banamex anyone?

(continues...)

******

...come back tomorrow for Part 4 of Narco-Dollars for Dummies...

- AUTHOR NOTE: Catherine Austin Fitts, author of Scoop's "The Real Deal" column, is a former managing director and member of the board of directors of Dillon Read & Co, Inc, a former Assistant Secretary of Housing-Federal Housing Commissioner in the first Bush Administration, and the former President of The Hamilton Securities Group, Inc. She is the President of Solari, Inc, an investment advisory firm. Solari provides risk management services to investors through Sanders Research Associates in London.

Anti©opyright Solari 2002

© Scoop Media

 
 
 
Top Scoops Headlines

 

Eric Zuesse: U.S. Empire: Biden And Kerry Gave Orders To Ukraine’s President

Eric Zuesse, originally posted at Strategic Culture On May 19th, an implicit international political warning was issued, but it wasn’t issued between countries; it was issued between allied versus opposed factions within each of two countries: U.S. and Ukraine. ... More>>

Binoy Kampmark: Budget Cockups In The Time Of Coronavirus: Reporting Errors And Australia’s JobKeeper Scheme

Hell has, in its raging fires, ringside seats for those who like their spreadsheets. The seating, already peopled by those from human resources, white collar criminals and accountants, becomes toastier for those who make errors with those spreadsheets. ... More>>


The Dig - COVID-19: Just Recovery

The COVID-19 crisis is compelling us to kick-start investment in a regenerative and zero-carbon future. We were bold enough to act quickly to stop the virus - can we now chart a course for a just recovery? More>>

The Conversation: Are New Zealand's New COVID-19 Laws And Powers Really A Step Towards A Police State?

Reaction to the New Zealand government’s handling of the COVID-19 pandemic and resultant lockdown has ranged from high praise to criticism that its actions were illegal and its management chaotic. More>>


Keith Rankin: Universal Versus Targeted Assistance, A Muddled Dichotomy

The Commentariat There is a regular commentariat who appear on places such as 'The Panel' on Radio New Zealand (4pm on weekdays), and on panels on television shows such as Newshub Nation (TV3, weekends) and Q+A (TV1, Mondays). Generally, these panellists ... More>>


Binoy Kampmark: Welcome Deaths: Coronavirus And The Open Plan Office

For anybody familiar with that gruesome manifestation of the modern work place, namely the open plan office, the advent of coronavirus might be something of a relief. The prospects for infection in such spaces is simply too great. You are at risk from ... More>>

Caitlin Johnstone: Do You Consent To The New Cold War?

The world's worst Putin puppet is escalating tensions with Russia even further, with the Trump administration looking at withdrawal from more nuclear treaties in the near future. In addition to planning on withdrawing from the Open Skies Treaty ... More>>


Binoy Kampmark: Why Thinking Makes It So: Donald Trump’s Obamagate Fixation

The “gate” suffix has been wearing thin since the break-in scandal that gave it its birth. Since Watergate, virtually anything dubious and suggestive, and much more besides, is suffixed. Which brings us to the issue of President Donald Trump’s ... More>>

Gordon Campbell: On The Ethics (and Some Of The Economics) Of Lifting The Lockdown

As New Zealand passes the half-way mark towards moving out of Level Four lockdown, the trade-offs involved in life-after-lockdown are starting to come into view. All very well for National’s finance spokesperson Paul Goldsmith to claim that “The number one priority we have is to get out of the lockdown as soon as we can”…Yet as PM Jacinda Ardern pointed out a few days ago, any crude trade-off between public health and economic well-being would be a false choice... More>>


Binoy Kampmark: Brutal Choices: Anders Tegnell And Sweden’s Herd Immunity Goal

If the title of epidemiological czar were to be created, its first occupant would have to be Sweden’s Anders Tegnell. He has held sway in the face of sceptics and concern that his “herd immunity” approach to COVID-19 is a dangerous, and breathtakingly ... More>>


 
 
 
 
 


 
 
 
  • PublicAddress
  • Pundit
  • Kiwiblog