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Forum Post: Wall Street and the drug trade

Posted 12 years ago on Dec. 19, 2011, 6:55 p.m. EST by hymie (391)
This content is user submitted and not an official statement

We've all heard about OWS protesters being criticized for doing drugs, but did you know what role Wall Street plays in the drug trade? Mike Rupert, an LA policeman will tell you all about it:


Here are a few snippets:

"But one guy I talked to was a guy named Rex Nutting, who was the bureau chief of CBS Market Watch--he is the head guy for CBS for the stock market. And we're sitting back in the room--I'm waiting for Huffington to get free--and I'm talking to this guy about the fact that Richard Grasso, the Chairman of the New York Stock Exchange, last July went to Colombia and cold-called on the FARC guerrillas and asked them to invest their drug money in Wall Street. And Rex Nutting says: "Well, of course they always go where the money is. It's obvious.""

"It's very interesting to note that one of the companies I track as far as laundering drug monies go--General Electric--happens to own NBC. Now, everybody knows that GE brings good things to life; they make DVDs, VCRs, television sets, telephones. When drug money in South America says they'd like to buy 100 million dollars worth of TVs and DVDs so that someone laundering drug money in Colombia can open a chain of appliance stores and make that money legal, GE asks absolutely no questions about where that money is coming from. As a matter of fact, there are no requirements for Wall Street to report drug money being invested."

Financiers on Wall Street and in London have been involved in the drug trade since the Opium Wars. In fact, it is thought that the global banking system was originally started to handle drug money.



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[-] 2 points by demcapitalist (977) 12 years ago

Wall street, the CIA, the whole gang has been up to their necks in it since they made the drugs illegal. Weren't the opium wars about trading opium for tea? The British wanted tea so they got the Chinese addicted to opium?

[-] 2 points by ZenDogTroll (13032) from South Burlington, VT 12 years ago

I think that was more about gaining control over the politics within China - maintaining access to the Chinese market.

There were some that wanted the Brits out - they came in with a colonial attitude, and took over some of the ports.

[-] 1 points by hymie (391) 12 years ago

That's right, the British got started trading it for the tea. But they also used opium to weaken the Chinese population. It similar to how the CIA used crack cocaine both to make money and to weaken the black population in south central LA.

They got about 10% of the Chinese hooked on it, which is a huge number, and opium is a nasty addiction. Its said that the opium barons made more money comparatively than the computer billionaires of today.