- Joined
- May 8, 2018
- Location
- south east england
When some DEA agents busted a Mexican drug cartel, ten years ago, without consulting their colleagues at the CIA and FBI, it precipitated the exposure of the Wells Fargo Bank money laundering scandal, which in turn caused a sudden shortage of liquidity in the credit markets, which hastened the 'credit crunch' crisis of 2008.
The credit crunch was on the cards anyway, because of all the bad loans, but this inadvertent DEA bust brought it forward somewhat, and made it a real crisis, even for our controllers. The point I am making is that the international banking system relies on drug money to keep the machine rolling forward. They just don't want the little guy to grab a piece of the action, because they don't like competition, basically, it erodes their margins.
Interesting, I never knew about this wells fargo scandal, just shows you how the press minimise some stories while others get on every front page. I will need to read up about this, as it connects with the story of the US journalist gary webb [from time magazine : "Webb wrote a series of three articles for the San Jose Mercury News in 1996 dubbed “Dark Alliance.” In his report, Webb — who had won a Pulitzer in 1989 for a different story — claimed that the CIA was partly responsible for bringing crack cocaine to the United States in the 1980s...."]