Western banks 'reaping billions from Colombian cocaine trade'
Prohibition is a transfer of the cost of the drug problem from the consuming to the producing countries
The Observer (UK)
Saturday, June 2, 2012
Saturday, June 2, 2012
While cocaine production ravages countries in Central America, consumers in the US and Europe are helping developed economies grow rich from the profits, a study claims. The vast profits made from drug production and trafficking are overwhelmingly reaped in rich "consuming" countries – principally across Europe and in the US – rather than war-torn "producing" nations such as Colombia and Mexico. And its authors claim that financial regulators in the west are reluctant to go after western banks in pursuit of the massive amount of drug money being laundered through their systems.
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