This time Max Keiser and co-host Stacy Herbert talk about the walking zombies of the world’s largest economies.
Afghanistan now exports not opium, but heroin. Opium is being converted into heroin on an industrial scale, not in huts and houses but in factories. The chemicals needed for this process are shipped into Afghanistan by tanker. The tankers and bulk opium lorries on the way to the factories share the roads (improved by international aid) with NATO forces.
The principal sources of these precursor chemicals are believed to be Mexico, China, Europe, Central Asia and India. Traffickers hide the sources of their chemicals by repackaging or false labelling. According to the United Nations Office on Drugs and Crime, markets and processing facilities are clustered in border areas of Iran, Pakistan and Tajikistan.
Acetic anhydride (AA) is the most commonly used chemical agent in heroin processing. According to the DEA, Mexico is the major source of AA and authorities in Uzbekistan, Turkmenistan, Kyrgyzstan, and Kazakhstan routinely seize ton-quantity shipments of acetic anhydride.
A July 2008 report, carried by the Boston Globe, quotes Christina Oguz, country representative for the U.N. Office on Drugs and Crime, saying that just 1% of these precursor chemicals are ever seized – even though these chemicals are all imported by the tanker-load, and have no ‘dual-use’ justification
It follows that there are many players with a much larger financial stake in the Afghan drug traffic than local Afghan drug lords, al-Qaeda, and the Taliban. Sibel Edmonds has charged that Pakistani and Turkish intelligence, working together, utilise the resources of the international networks trafficking Afghan heroin.
Others have written about the ties between U.S. intelligence and the Turkish narco-intelligence connection. A former top-level DEA agent in the Middle East, has corroborated the CIA interest in that region’s drug connection, apparently stating that “In my 30-year history in the Drug Enforcement Administration and related agencies, the major targets of my investigations almost invariably turned out to be working for the CIA”.
The UNODC Executive Director, Antonio Maria Costa, has reported that “money made in illicit drug trade has been used to keep banks afloat in the global financial crisis.”
This video, and many others like it can be used as a starting point to explore these allegations.
A report on Bloomberg indicates that the housing and debt crisis in the U.S. is far from over, as instances of so-called ‘Buy and Bail’ are on the increase.
Buy and Bail consists of acquiring a new house before the buyer’s credit rating is ruined by walking away an existing mortgage loan because it is “underwater” – i.e. worth less than the mortgage. It’s an attempt to escape payments on a home whose value may never recover while securing a new property, often at a lower price with a more affordable loan (and almost always with a different lender).
After falls in house values since 2006, something like 20% of home loans in the U.S. are “underwater”, meaning the house is worth less than the loan. As a result, more people are looking at ways to walk away from loans and approx. 12% of mortgage defaults are ‘strategic’ (deliberate), according to the report.
There is still a long way down yet, it would seem.
In an interview with Max Keiser, economist Paul Craig Roberts argues that the deliberate off-shoring of jobs from the U.S is destroying the economy – outsourcing or off-shoring of manufacturing base in particular is something that is occurring in many developed economies.
Gold, Torture, Lies, Propaganda, Junk Bonds, Fraud, the Media and the State of the Union.
An extract from the excellent “Keiser Report”.
Prior to Treasury Secretary Tim Geithners visit to Berlin at the end of May, Webster Tarpley gave this interview discussing the proposals for regulation of trading and speculation, and also covers the ‘casino’ economy, ways of addressing recession and the free market fetish.
Adrian Salbuchi is an Argentinian economist who has plenty to say about the banking system and the Global Financial Crisis. This video is a year or so old but it acts as a good introduction to his thoughts, and we’ll be covering more of his material in future.
Using his experience of the financial difficulties experienced in Argentina, Adrian explains the lead up to the Global Financial Crisis, describing the whole Global Financial System as one vast Ponzi Scheme, based on:
(1) Artificially controlling the supply of public State-issued Currency
(2) Artificially imposing Banking Money as the primary source of funding in the economy
(3) Promoting “doing everything by Debt” and
(4) Erecting complex channels that allow privatisation of profits when the model is in expansion mode and socialisation of losses when the model goes into contraction mode.