It's an interesting new study that suggests once again, the Western banks are also having an easy ride in the drug war. The minions are paying the price yet somehow the big banks always manage to escape. What are the odds? Only 2.6% of the drug money profits stay in the producing country whereas 97.4% are in the West according to the study.
One of these days we need to stop flushing billions down the toilet for these drug wars. How is it possible to go on for so many decades yet show no results? If anything, the problem is worse today than it was when these phony wars started. The Guardian:
"Colombian society has suffered to almost no economic advantage from the drugs trade, while huge profits are made by criminal distribution networks in consuming countries, and recycled by banks which operate with nothing like the restrictions that Colombia's own banking system is subject to."
His co-author, Daniel Mejía, added: "The whole system operated by authorities in the consuming nations is based around going after the small guy, the weakest link in the chain, and never the big business or financial systems where the big money is."
The work, by the two economists at University of the Andes in Bogotá, is part of an initiative by the Colombian government to overhaul global drugs policy and focus on money laundering by the big banks in America and Europe, as well as social prevention of drug taking and consideration of options for de-criminalising some or all drugs.