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Black Market Peso Exchange (’92) & Still Happening?

May 30, 2011

Interesting read from the PBS site revealing how cocaine dealers moved money around. Sit down for a second, you need to prepare to hear this: us corporations were willingly involved. BUT WAIT, ITS OKAY! they didnt get into trouble. Phew.

Here is the breakdown
>Columbians sell cocaine in the US, for US Dollars
>Drug dealers would then use FX Bankers to exchange the dollars…in a roundabout way.
>The peso exchangers would take these dollars and buy American goods from various places, then send the stuff to Columbia
>The drug dealers would receive the goods in Columbia, and sell them for pesos.
>They used the pesos to pay off the bankers, and themselves.

Apparently the biggest “good” was cigarettes. Makes sense I guess. Allegedly the cig manufacturers knew what was happening but went along with it anyway. Oh, so did:
“Bell Helicopter, Intel Corporation, Merrill Lynch, Price Waterhouse and from the distributors of Philip Morris, British American Tobacco, General Electric and dozens of other US companies”

It is all probably forgotten by now, but wells fargo got nabbed for this last year. They paid a $1mm fine on $360bn worth of drug related laundering in mid 2000’s. There is no way they “missed” these transactions, you have to submit a blood test to change a dollar these days.

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