.....I recall Larry Johnson saying in one of his chats that the major drug cartels couldn’t operate without the assistance of the major banks to launder their illegal profits. Michael Hudson has provided some very shocking and interesting revelations about US government involvement in that criminal activity. This excerpt is from an autobiographical interview made in 2018, although his writings and interviews are all sprinkled with this info:
That gave me the clue about what people these days talk about money laundering. In the last few months that I worked for Chase Manhattan in 1967, I was going up to my office on the ninth floor and a man got on the elevator and said, “I was just coming to your office, Michael. Here is a report. I’m from the State Department (I assumed that this meant CIA). “We want to calculate how much money the US could get if we set up bank branches and became the bank for all the criminal capital in the world.” He said, “We figured out we can finance, (and he said this in an elevator), we can finance the Vietnam War with all the drug money coming into America, all of the criminal money. Can you make a calculation of how much that might be?”
So I spent three months figuring out how much money goes to Switzerland, from drug dealings, what’s the dollar volume of drug dealings. They helped me with all sorts of statistics on that, and said, “We can become the criminal capital of the world and it’ll finance the dollar and this will enable us to afford the spending to defeat communism in Vietnam and elsewhere. If we don’t do that, the bomb throwers will come to New York.”
So I became a specialist in money laundering! Nothing could have better prepared me to understand how the global economy works! I had all the statistics, I had the help of the government people explaining to me how the CIA worked with drug dealing and other criminals and kidnappers to raise the money so it would be off the balance sheet funding and Congress didn’t have to approve it when they would kill people and sponsor revolutions. They were completely open with me about this. I realized they’d never done a security check on me. [My Emphasis]
https://karlof1.substack.com/p/international-crime-and-money-laundering