Part 2 "Journalistic Secrecy is a Serious Problem" [2/4] [2/4] Taken to the cleaners ["]Un["]fortunately, some of this is not as encouraging as it sounds. For a start, the ["]dirty["] money leaving banks may end up polluting other businesses [MONEY LAUNDERING IS GOOD FOR BUSINESS]. PoLice in Texas say that foreign-exchange bureaux there have been a primary conduit for channelling drug money to and from Mexico. Insurers are also vulnerable. One recent laundering wheeze involves buying single-premium insurance policies with ["]dirty["] money. These are then cashed in early in return for a "clean" cheque from the insurer, or used as collateral for a bank loan. [On the way: Currency Transaction Reports for purchase of insurance policies with cash and Early Redemption Reports for policies held less than 50 years. Insurance agents will be required to report "suspicious" policy holders and report possible "structuring" violations. Then they'll wonder why customers are "shunning" insurance companies.] Even the rising cost of laundering may not be unalloyed good news. It may simply reflect the emergence of a new group of professional launderers who are better at beating the system, and charge more for doing so. [Or as Comrade Clinton would put it, "getting their fair share"] Some poLiceman fear that these experts may soon be using electronic-cash systems to speed up the wash cycle (see box on next page). [See post 4/4] Worse [Better], as old laundering centres close their doors, new ones are opening theirs. The table above [shown below this paragraph] shows the countries that the State Department thinks face a severe money-laundering problem. (Even states with tough anti-laundering rules, such as America and Britain, are listed if their vigilance is considered essential in the global fight against laundering.) The striking thing about the ranking is that it includes islands such as Cyprus, a ["]hive["] of offshore activity for the Russian mafia, and Aruba, a Dutch dependency in the Caribbean, which were not associated with laundering a few years ago. [Translation: Aruba et. al. have always been on their shit list, and now that they've taken out the higher-priority targets e.g. CH and Cayman, the NWO _Microchip Extremists_ are setting their sights on shutting down the lower-yield peripheral sites. (which they've "only just recently discovered" are pro-privacy areas)] Another notable inclusion is Mexico, which the report describes as "the money-laundering haven of choice for initial placement of US currency in the world's financial system". In March, the [criminal] Mexican government unveiled a series of anti-laundering [fig leaf] measures in a belated effort to clean up its reputation. Laundry list "High-priority" laundering centres, March 1997 A B C D Aruba yes . . yes Canada yes yes yes yes Cayman Islands yes yes . yes Colombia yes . . yes Cyprus yes na yes yes [Doesn't indicate differences between Greek and Turkish regs, if any.] Germany yes . . yes Hong Kong yes yes . yes Italy yes yes yes yes Mexico yes . yes . Netherlands yes yes yes yes Netherlands Antilles yes . . yes Nigeria yes . . na Panama . . yes yes Russia . . . . Singapore yes . yes yes Thailand . . . . Turkey . . . . Britain yes yes yes yes United States yes yes yes yes Venezuela yes . yes yes A Banks required (or permitted) to report suspicious transactions. [Communese translation: entry-level bank tellers required (or permitted) to make subjective determinations as to customers' intent and/or state of mind. Required (or permitted) to report people encountered on city streets who may be shunning banks in favor of foreign-exchange houses and cheque-cashing outlets. Development of mind-reading skills mandated by executive order.] B Government permits sharing of seized assets with other governments that assisted the underlying investigation. [Communese translation: Thieves drawing paycheques from extorted proceeds allowed to share stolen goods with accomplices in other jurisdictions. The Legislator/B-Crat/Snitch/Judge motto: "We Know Em When We Seize Um"] C Non-banks must meet same anti-laundering provisions as banks. [Communese translation: The woman with an appearance approximating the Wicked Witch of the West sitting behind the .357 Magnum resistant plastic that slips you 10,000,000 Bongonian bellylints in exchange for 10 euros is also a deputized collectivist agent/informant.] D Financial institutions and employees who provide otherwise confidential data to investigators pursuing authorized investigations are protected from prosecution. [Communese translation: Deputized Government Agents/Informants (that is, anyone with whom you exchange legal tender bank notes, a.k.a. "dirty" money) who provide "otherwise confidential" data so that "authorized investigators" may empty your bank account are not accomplices to looters with sovereign immunity.] Source: US Department of State (International Narcotics Control Strategy Report) [Source: Illegitimate Spawn of Hegel (Global Currency Confiscation Strategy Report)] [Notice again that the less fiscally totalitarian states are those actively engaged in recalling their worthless currencies, forbidding (in theory) their domestic hostages from sending capital abroad, forbidding (in theory) holding gold or using other means of protection from criminal governments, defaulting on foreign loans and various shenanigans in a similar vein. From this it can be concluded that for those on the outside looking in, chronic economic mismanagement and chaos are not necessarily a negative, these areas provide excellent entry points in the "rewire-chain"...] In the future, more Asian countries could be added to the list. Rick McDonell [, looter ], the FATF's representative [of Satan] in Asia, warns that the region is ["]vulnerable["] to laundering because many of its economies are heavily cash-based. [Solution: go hire Jerry Seinfeld, Patrick Stewart and all the other convenience-card whores to shill for the cashless society in Bangkok, Guangzhou and Kuala Lumpur?] Moreover, some countries such as India and Pakistan have large "underground" banking systems which sit alongside official ones [hawala]. Usually based on family or regional networks, these shift large amounts of money [and other stored units of value, e.g. crates of Avtomat Kalashnikova, "illegal" cash crops, RPGs, precious stones] around anonymously and cheaply. [25-28% markup indeed! Forget that rubbish] Such attractions, plus a lack of anti-laundering legislation, have already turned Thailand into a launderers' paradise. A report published last year [yet another report, this journalist needs to get out into the real world, hanging with fiscal bureaucrats and professors is stunting Anon-E-Communists' growth] by Bangkok's Chulalongkorn University put the amount of money washing through the country each year at 730 billion baht ($28.5 billion). This is equivalent to 15% of Thai GDP. [In future watch for the following commercials to be run in these vulnerable-to-laundering cash-based-economy television markets: (Jackie Chan dubbed in various local dialects) Amarakan Sexpress - don weave shantytown witoutit VIZA - accep at FinSEN office wowide MassaCard - it's swave money]
E-Communist 25 St James's Street London SW1A 1HG www.economist.com
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