In case you missed this article from 2009. “Drugs money worth billions of dollars kept the financial system afloat at the height of the global crisis, the United Nations drugs and crime tsar has told the Observer. Antonio Maria Costa, head of the UN Office on Drugs and Crime, said he has seen evidence that the proceeds of organised crime were “the only liquid investment capital” available to some banks on the brink of collapse last year. He said that a majority of the $352bn (£216bn) of drugs profits was absorbed into the economic system as a result…”
Reputable source, amazing read.
Interesting, then, to re-read Costa’s comments in light of HSBC this year caught accepting some 7 Billion in cash from Mexican cartels, for which the US has just given them a slap on the wrist.