HSBC Bank: Secret Origins To Laundering The World's Drug Money

Tyler Durden's picture

Submitted by the Drug Trafficking & Narco-Terrorism Department of GreatGameIndia

HSBC Bank : Secret Origins To 26/11 Mumbai Attacks

#SwissLeaks what the media has termed it is a trove of secret documents from HSBC’s Swiss private banking arm that reveals names of account holders and their balances for the year 2006-07. They come from over 200 countries, the total balance over $100 billion. But nowhere has the HSBC Swiss list touched off a more raging political debate than in India.

That’s why to obtain and investigate the Indian names, The Indian Express partnered in a three-month-long global project with the Washington-based International Consortium of Investigative Journalists (ICIJ) and the Paris-based Le Monde newspaper. The investigation revealed 1,195 Indian HSBC clients, roughly double the 628 names that French authorities gave to the Government in 2011. The new revelation— published as part of a global agreement — is expected to significantly widen the scale and scope of the ongoing probe by the Special Investigation Team (SIT) appointed by the Supreme Court.

For years, when banks have been caught laundering drug money, they have claimed that they did not know, that they were but victims of sneaky drug dealers and a few corrupt employees. Nothing could be further from the truth. The truth is that a considerable portion of the global banking system is explicitly dedicated to handling the enormous volume of cash produced daily by dope traffickers.

Contrary to popular opinion, it is not “demand” from the world’s population which creates the mind destroying drug trade. Rather, it is the world financial oligarchy, looking for massive profits and the destruction of the minds of the population it is determined to dominate, which organized the drug trade. The case of HSBC underscores that point. Serving as the central bank of this global apparatus, is HSBC.

2009 CIA Map of Drug Trade Routes

* * *

East India Company Origins

The opium trade began in the early 1700s as an official monopoly of the British East India Company, which conquered India, and ran it on behalf of the British Crown and the financiers operating through the City of London. Indian-grown opium became a key component in the trade for tea and silk in China.  The East India Company had a thriving business selling British textiles and other manufactured products in India, and selling Chinese silk and tea in Britain. But the Company ran into problems with the opium end of the trade. The influx of opium caused major problems for China, and led the Emperor to issue an edict in 1729 prohibiting opium consumption. Then, in 1757, the Emperor restricted all foreigners and foreign vessels to a trading area in the port city of Canton. A stronger edict in 1799 prohibited the importation and use of opium under penalty of death.

None of this stopped the British from continuing to flood China with opium, creating millions of addicts, but it did cause the East India Company to protect its tea and silk trade by shifting its Chinese opium operations to nominally independent drug runners who bought opium legally from the East India Company in Calcutta, and smuggled it into China. The most prominent of these drug-running firms was Jardine Matheson & Co. It was founded in 1832 by two Scotsmen, William Jardine and James Matheson.  Jardine had been a ship’s surgeon with the East India Company, while Matheson was the son of a Scottish baronet. The firm today is controlled by the Keswick family. In 1839, the Chinese Emperor launched an anti-opium offensive, which included the confiscation of all opium stocks in the hands of Chinese and foreign merchants. The merchants put up a fight, but were ultimately forced to concede, turning in their opium stocks after being indemnified against losses by British officials.

In response, however, the British launched a propaganda campaign against China, accusing it of violating Britain’s right to “free trade.” Britain sent its fleet to China, to force the Chinese to capitulate to the opium trade. The action, known as the First Opium War, resulted in the Treaty of Nanking in 1842, under which China not only capitulated to the opium trade, but also agreed to pay reparations to the opium runners and gave the British control of the island of Hong Kong. However, the treaty did not specifically legalize opium, so the British launched a second Opium War, which resulted in the 1856 Treaty of Tientsin, which legitimized the opium trade and opened China up to foreigners even more.

As the opium and other trade with China expanded, Britain’s new territory of Hong Kong became a major imperial commercial center. The opium dealers gathered together to form a bank, the Hongkong and Shanghai Bank, as the financial flagship of the British opium trade. Over time, the bank—now known as HSBC—would extend its reach into the drug fields of the Middle East and Ibero-America, as befitting its role as the financial kingpin of Dope, Inc.

Role of Secret Societies

In 1783 Lord Shelbourne launched the Chinese opium trade with Scottish merchants from the East India Company and members of the House of Windsor-allied Knights of St. John Jerusalem.

Shelbourne’s chief propagandist was Adam Smith who worked for East India Company, which emerged from the slave-trading Levant Company and later became known as Chatham House, home to the powerful Royal Institute for International Affairs (RIIA). In 1776 the high seas pirate Adam Smith wrote Wealth of Nations, which became the bible of international capitalism.

In the Far East the British organized the Chinese Triad Society, also known as the Society of Heaven and Earth, to smuggle their opium.  Beginning in 1788 the Freemason Grand Lodge of England established lodges in China, one of which was the Triad Society.  Another was known as the Order of the Swastika.

In 1839 William Jardine- a Canton-based opium trafficker- steered Britain into the first Opium War after Chinese officials confiscated his stash. The second Opium War lasted from 1858-1860.  Lord Palmerston commanded both expeditions for the Brits.  He was also the High Priest of Scottish Rite Freemasonry in the British Empire.

Throughout the 19th century the British families of Matheson, Keswick, Swire, Dent, Inchcape, Baring and Rothschild controlled the Chinese heroin traffic.  The Inchcape’s and Baring’s Peninsular & Orient Steam Navigation Company (PONC) transported the dope around the world.

To the US West Coast, the families brought Chinese coolies to build JP Morgan’s railroads, slave laborers who were kidnapped (shanghaied) by the Triads.  The Triads came along too, setting up opium dens in San Francisco and Vancouver and using a network of Chinatowns as a channel for heroin.  This network exists today.  To the US East Coast the families brought African slaves and cotton.  These same families built plantations and became kings of southern cotton on the backs of shanghaied Africans.

The American families Perkins, Astor and Forbes made millions off the opium trade.  The Perkins’ founded Bank of Boston, which is today known as Credit Suisse First Boston.  The Perkins and Morgan families endowed Harvard University.  William Hathaway Forbes was a director at Hong Kong Shanghai Bank shortly after it was founded in 1866.  John Murray Forbes was the US agent for the Barings banking family, which financed most of the early drug trade.  The Forbes family heirs later launched Forbes magazine. Steve Forbes ran for President in 1996.  John Jacob Astor invested his opium proceeds in Manhattan real estate and worked for British intelligence.  The Astor family home in London sits opposite Chatham House.

These families launched the Hong Kong Shanghai Bank Corporation (HSBC) after the second Opium War as a repository for their opium proceeds.  HSBC, a subsidiary of the London-based HSBC Holdings, today prints 75% of Hong Kong’s currency, while the British Cecil Rhodes-founded Standard Chartered Bank prints the rest.  HSBC’s Hong Kong headquarters sits next to a massive Masonic Temple.

Freemasonry is a highly secretive society, making it an ideal vehicle for global drugs and arms trafficking.  According to 33rd Degree Mason Manly Hall, “Freemasonry is a fraternity within a fraternity – an outer organization concealing an inner brotherhood of the elect…the one visible and the other invisible.  The visible society is a splendid camaraderie of ‘free and accepted’ men enjoined to devote themselves to ethical, educational, fraternal, patriotic and humanitarian concerns.  The invisible society is a secret and most august fraternity whose members are dedicated to the service of an arcanum arcandrum (sacred secret).”

Wealth derived from selling this Chinese opium during British colonial rule, helped build many landmarks on India’s west coast. The Mahim Causeway, The Sir JJ School of Art, David Sassoon Library and Flora Fountain, landmarks in modern Mumbai, were built by prominent Parsi and Jewish traders from profits made by a flourishing opium and later cotton trade with China.

Prominent families from Mumbai’s past, names that adorn today’s famous institutions such as the Wadia’s, Tata’s, Jejeebhoy’s, Readymoney’s, Cama’s and Sassoon’s sold opium to China through the British. By the end of the nineteenth century, when the opium trade went bust, cotton from India’s western state of Gujarat, which had already developed strong trade links with Canton profited. The Paris’s ploughed profits from the trade with the Chinese back into India, setting up several schools, hospitals and banks. Historical records prove that some of India’s prominent Parsi traders at the time, were founders of the Hong Kong and Shanghai Banking Corporation (HSBC) founded in 1865. For a detailed report read Rothschild colonization of India.

It is this deadly opium empire that Gandhiji was very much conscious about and spoke out against for which he was jailed in 1921 by India’s British rulers for “undermining the revenue”. Having seen generations of Chinese youths rendered docile and passive Gandhijis was concerned over opium and its deadly effects on India which is clear from his letters. These opium production activities ran until 1924 in India and were stopped with the heroic efforts of Mahatma Gandhi who first agitated to remove opium production from India and destruction of China using Indian soil. Finally the British transferred the entire production to Afghanistan in 1924 handing the production to southern Afghani tribals which after 90 years became the golden crescent of opium production. Though the production is in the hands of Afghan tribals the distribution finance market control is still exercised by the same old British business houses or their proxies.

Afghan Opium for Bankers and Terrorists

There is a general impression that Afghanistan has always been the center of opium production. In fact, it has not. Prior to the Soviet invasion in 1979, opium production in Afghanistan was less than 1,000 tons; that grew to 8,200 tons (based on conservative UN Office on Drugs and Crime/UNODC figures) in 2008. Throughout this period, Afghanistan was in a state of war. Following the Soviet invasion, the anti-Soviet powers, particularly, the US, UK, and Saudi Arabia, began generating larger amounts of drug money to finance much of the war to defeat the Soviets. Since 1989, after the Soviet withdrawal, there has been an all-out civil war in Afghanistan, as the US-UK-Saudi-created mujahideen dipped further into the opium/heroin money.

What was happening in Afghanistan during this period that caused opium production to soar to those levels? History shows that the US invasion in 2001 came close to wiping out the Taliban forces; the Afghan people, at least at that point in time, because of the Pakistani-Saudi links to the Taliban and the oppressive nature of the Wahhabi-indoctrinated regime, supported the invading American and NATO forces. That began to change in 2005.

The year 2005 is important in this context, since one of the most damning parts of the US Senate report details HSBC’s relationship with the Saudi-based Al Rajhi Bank, a member of Osama bin Laden’s “Golden Chain” of important al-Qaeda financiers. The HSBC-Al Rajhi relationship has spanned decades; perhaps that is why, even when HSBC’s own internal compliance offices asked that it be terminated in 2005, and even when the US government discovered hard evidence of Al Rajhi’s relationship with terrorism, HSBC continued to do business with the bank until 2010.

In fact, the report said, Al Rajhi’s links to terrorism were confirmed in 2002, when US agents searched the offices of a Saudi non-profit US-designated terrorist organization, Benevolence International Foundation. In that raid, agents uncovered a CD-ROM listing the names of financiers in bin Laden’s Golden Chain. One of those names was Sulaiman bin Abdul Aziz Al Rajhi, a founder of Al Rajhi bank.

Recently an operation by German Customs official revealed that the British Queen financed Osama Bin Laden. German officials in an operation raided two containers passing through Hamburg Port and seized 14,000 documents establishing that Osama bin Laden was funded by UK Queen’s bank Coutts, which is part of the Royal Bank of Scotland.

HSBC & 26/11 Mumbai Attacks

Why did HSBC not terminate its links with the Al Rajhi in 2005? The answer lies in what was then put in place in Afghanistan to generate large amounts of cash. When it comes to opium/ heroin and offshore banks, Britain rules supreme. In 2005, poppy fields in southern Afghanistan began to bloom, and it became evident to the bankers and the geo-politicians of Britain and the US that cash to support the financial centers and the terrorists could be made right there.

It was announced on Jan. 27, 2006 in the British Parliament that a NATO International Security Assistance Force (ISAF) would be replacing the US troops in Helmand province as part of Operation Herrick. The British 16 Air Assault Brigade would make up the core of the force. British bases were then located in the districts of Sangin, Lashkar Gah, and Gereshk.

As of Summer 2006, Helmand was one of the provinces involved in Operation Mountain Thrust, a combined NATO/Afghan mission targeted at Taliban fighters in the south of the country. In July 2006, the offensive essentially stalled in Helmand, as NATO (primarily British) and Afghan troops were forced to take increasingly defensive positions under heavy insurgent pressure. In response, British troop levels in the province were increased, and new encampments were established in Sangin and Gereshk. In Autumn 2006, some 8,000 British troops began to reach “cessation of hostilities” agreements with local Taliban forces around the district centers where they had been stationed earlier in the Summer, and it is then that drug-money laundering began in earnest.

This drug money, at least a good part of it, is generated in this area with the help of Dawood Ibrahim, who also played a role in helping the Mumbai attackers by giving them the use of his existing network in Mumbai. At the time, Ibrahim worked on behalf of the British, and ran his operation through the British-controlled emirate of Dubai. Drugs came into Dubai through Dawood’s “mules,” protected by the Pakistani ISI and British MI6; the dope was shipped in containers which carried equipment sent there for “repair” from Kandahar and elsewhere in southern Afghanistan. British troops controlled Helmand province, where 53% of Afghanistan’s gargantuan 8,200 tons of opium was produced in 2007.

The drugs were converted, and still are today, to cash in Dubai, where Dawood maintains a palatial mansion, similar to the one he maintains in Karachi. Dubai is a tax-free island-city, and a major offshore banking center. The most common reason for opening an offshore bank account is the flexibility that comes with it.

With the development of the Dubai International Financial Centre (DIFC), which is the latest free-trade zone to be set up there, flexible and unrestricted offshore banking has become big business. Many of the world’s largest banks already have significant presence in Dubai – big names such as Abbey National Offshore, HSBC Offshore, ABN Amro, ANZ Grindlays, Banque Paribas, Banque de Caire, Barclays, Dresdner, and Merrill Lynch, all have offices in the Emirate already.

In addition to Dubai, most of the offshore banks are located in former British colonies, and all of them are involved in money laundering. In other words, the legitimization of cash generated from drug sales and other smuggled illegitimate goods into the “respectable banks” is the modus operandi of these offshore banks. The drugs that Dawood’s mules carry are providing a necessary service for the global financial system, as well as for the terrorists who are killing innocents all over the world.

In December of 2007, this Britain-run drug-money-laundering and terrorist-networking operation was about to be exposed when Afghan President Hamid Karzai learned that two British MI6 agents were working under the cover of the United Nations and the European Union behind his back, to finance and negotiate with the Taliban. He expelled them from Afghanistan. One of them, a Briton, Michael Semple, was the acting head of the EU mission in Afghanistan and is widely known as a close confidant of Britain’s Ambassador, Sir Sherard Cowper-Coles. Semple now masquerades as an academic analyst of Afghanistan, and was associated with the Harvard Kennedy School’s Carr Center. The second man, an Irishman, Mervin Patterson, was the third-ranking UN official in Afghanistan at the time that he was summarily expelled.

These MI6 agents were entrusted by London with the task of using Britain’s 7,700 troops in the opium-infested, Pushtun-dominated, southern province of Helmand to train 2,000 Afghan militants, ostensibly to “infiltrate” the enemy and “seek intelligence” about the lethal arms of the real Taliban. Karzai rightly saw it as Britain’s efforts to develop a lethal group within Afghanistan, a new crop of terrorists.

The drug money thus generated to fund the financial centers and terrorists through HSBC was also responsible for ongoing terrorist attacks that have destabilized most of South Asia. The most important of these was the massive attack on Mumbai.

The mode used to launder such drug money is through diamonds. A 2003 Report assessed various alternative financing mechanisms that could be used to facilitate money laundering and or terrorist financing. Trading in commodities, remittance systems, and currency were assessed on each of their abilities to earn, be moved, and store value. Diamonds were the only alternative financial device that fit into all of these assessment criteria.

Diamonds can be vulnerable for misuse for money laundering and terrorist financing purposes because they can transfer value and ownership quickly, often, with a minimal audit trail. They provide flexibility and an easy transportation of value.

Top diamond traders of the country, several of whom are now settled abroad, figure on what the media calls as the #SwissList, with mostly Mumbai addresses given. Many persons on the list are Gujarati diamond merchants with offices all over world having roots in Palanpur.

However their involvement in not just limited to money laundering. Almost 6 months before 26/11 2008 Mumbai Attacks the Financial Intelligence Unit of India (FIU-IND) (the central national agency responsible for receiving, processing, analyzing and disseminating information relating to suspect financial transactions) was already tracking the diamond industry for suspicious activities by terrorists.

“A year ago, some people from Mumbai began purchasing diamonds worth crores of rupees. When the industry tried to trace the traders, they turned out to be non-existent,” said Vanani.

The FIU traced all foreign transactions of Surat’s diamond industry, especially those emanating from Belgium. It found that a great deal of money was being invested by terrorist groups.

However in May 2014 eight of these Belgium based diamond dealers were given a clean chit by the Income Tax department in the black money case. The I-T department said a probe was initiated against the eight individuals, but there was no proof of tax evasion by them. Why is the Government reluctant in disclosing Black Money related data; be it NDA and even UPA before it ? For a detailed report on the issue read 26/11 – The Black Money Trail.

From the Far East to the Middle East to Ibero-America to India, everywhere the drug trade is flourishing, you will find HSBC. It may not handle the dope, but it does handle the money, making sure that the “citizens above suspicion” who run the empire get their cut of the proceeds.  Now HSBC has been caught red-handed laundering money in the U.S., India, China, Argentina almost everywhere the sun shined through the colonies. This is a bank which has abused us, assaulted our people, and violated the law with abandon. Isn’t it time we set an example and revoke its charter to do business here in India ?

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Dubaibanker's picture

Check the names of the rich and famous who have offshore comapnies here....

In case you are a visual person and wish to watch the gory details on how HSBC laundered it is, courtesy of full national TV glory: 

The Swiss Leaks

Bill Whitaker investigates the biggest leak in Swiss banking history and examines HSBC's business dealings with a collection of international outlaws
GetZeeGold's picture




Dave's not here man.

Dubaibanker's picture

Dave's my uncle and he is there.

Maybe your uncle Dave is not there....

The rest of Johns are here:

Over 106,000 client names with accounts in Swiss banks have been released from 203 countries:

For example, from US: 4,536 names have been released.

From China: 8,995 names

From 'BVI': 4,034 names

From Indonesia: 2,961 names

From Russia: 2,229 names

From UK: 920 names

From HK: 15,128 names

From India: 665 names

From Canada: 659 names

From Philippines: 572 names

From UAE: 448

From Germany: 238 names

From NZ: 233 names

From France: 178 names

From Belgium : 86

39,856 names are from unidentified countries.

Various media outlets have created special websites to cover this subject in great detail.

Guardian from UK is one of them

Indian Express from India is another

Here is BBC

The FT has come out with an article which I quote below suggesting that under the terms of an agreement with US Govt for a further 5 year period, HSBC was expected to clean up its act and not to get caught in any other criminal investigation.

Due to this data release today and the apology today, FT is suggesting that US Govt may even go to the extent of withdrawing the US licence of HSBC Bank!!

The quote from the article is below:

"The agreement puts it at risk of a criminal conviction and potential loss of its crucial US banking licence if it commits another crime in that period. Since then, HSBC has promised to clean up its act by shedding many of the riskiest clients and businesses."

 HSBC in Swiss tax avoidance storm

HSBC Switzerland business has been plummeting since 2006. Their number of clients have declined from 31,000 clients to less than 10,000 today. While their client assets have declined from over USD 120bn to less than USD 68bn.

HSBC’s Swiss deposits drop by almost half

Belgium has just announced that they may issue arrest warrants against the directors of HSBC Switzerland because they are not cooperating.

Belgium considers arrest warrant against HSBC Switzerland directors

This news is making headline news globally......It is currently the headline news on, CNN, BBC, FT, WSJ, Bloomberg as well as domestic websites of all the countries around the world.

India’s latest black money revelation in three charts

HSBC’s private Swiss bank served everyone from alleged arms dealers to pop stars

 Here is the man, Edmond Safra, who started the operations of what is now known as HSBC Bank Switzerland until HSBC bought it in 1999, the bank was owned and known as Safra Republic Bank Switzerland. 

 Billionaire Safra key to HSBC Swiss bank origins

Republic Bank has always been in trouble with the law and it has now become the problem of HSBC bank. Back in 2001, Republic Bank paid USD 606m for fraud in USA.

Republic New York Pleads Guilty to Securities Fraud

A fascinating article by the Economist which explains how Safra group actually reduced the price when sold to HSBC by over USD 450m for some very strange reasons......and how Safra died a very fiery death in Monaco in Dec 1999.

Death in Monte Carlo

It all feels surreal that HSBC is paying a very heavy price of something that probably Safra started 2-3 decades ago.

GetZeeGold's picture



Safra started 2-3 decades ago.


Totally forgot about Safra.....reminds me.....never hire your bodyguards off of Craigslist.

pods's picture

The Oligarchy may have a lock on the "drug trade" but demand IS the driving force.  People have wanted altered states of consciousness since the first kid spun around in a circle until they were dizzy.

The scum of the earth may have taken advantage of it, but they did not create it.

The only argument I would entertain about them creating the drug problem is through their fractional reserve banking scheme.  People cannot accept that they are getting poorer while everything around them is telling them they are becoming more wealthy.  Takes a bit of mind alteration to accept debt is wealth and 2% inflation is "stable prices."


Payne's picture

The biggest argument against is that they avoid taxation.  Legalize it and they will have too much competition.

Mandel Bot's picture

I always wondered why we invaded Afghanistan (the real reason that is). The logic behind the fantasy land in Dubai was also unclear. Now I understand.

JoeSexPack's picture

Sassoon family have been drug dealers to UK monarchy since 1800's Opium Wars in China. Vidal Sassoon went straight & sold shampoo.


HSBC was founded specifically to handle profits from drug trade in China.


Some say drug trade is one of top 3 on Earth, with weapons & energy. Accounting is tricky due to illegal nature.

nope-1004's picture

As well, the Bush family and BAC have been reported to be HUGE narco players. 

847328_3527's picture

I seriously doubt many of these Big Fish will jailed, let alone prosecuted. Mainly the little fish will be snagged and get thrown into the klinker while the Big Fries go free.

The law doesn't apply to the upper 1%, powerful politicans and drug lords.

JoeSexPack's picture

Same reason UK invaded 3x, to control the opium & block Russia.

daveO's picture

Ever wonder why the USSR invaded? To stem the flow into their country. An attempt to destabilize them like the Chinese, 150 yrs before. The Taliban had shut down production by 2001.

SofaPapa's picture

Seeing the subtle cultural effects is what fascinates me.  TPTB have co-opted an entire generation into complicity with what cannot be described as anything other than intentional ambiguity regarding drug use.  

If you're black and/or use the wrong drugs, then you go to jail and feed the industrial prison complex.  But if you are white and use more "acceptable" drugs (not legal, but wink, wink...), then we'll make jokes about you in Hollywood, and create a liberal cause out of legalizing at least some of the drugs you like.

So now that Washington and Colorado are looking at legalizing marijuana, people can say, "Look!  Sanity may appear!  See, it was just those evil [pick your caricature of a political party here]!  See, we're gaining freedom!"

Let the little folk have just enough "freedom" so they believe change is possible.

While the reality is that with this as only one of their distractions, TPTB have constructed a top-down controlled society at a level not seen in human history since the Soviet Union (and they didn't have remotely the tech to throw at it that the current crew have).  It's not fully implemented yet, because they have to go slowly.  But when the time comes, they are fully prepared for 1984 to become a shadow of the true evil they have planned.

But hey, marijuana is going to be legal, right? Yay!!

daveO's picture

They use the welfare state employees (poor) to peddle their goods. They use the warfare state employees (MIC) to keep the 'spice' flowing.

Ignatius's picture

"The scum of the earth may have taken advantage of it, but they did not create it."  -- pods

According to author Doug Valentine the Brits also created the demand by hiring Chinese gangsters to establish opium dens.  The kicker was in making narcotics illegal which led to enormous profits with lives also ruined and exploited in the prison complex.  The drug profits are then channeled to corrupt local governments.  This, according to Doug, is why the CIA is thoroughly clandestine as it does everything that's illegal -- they are outside any law.  The CIA is a criminal conspiracy using "national security" as its cover. 

Doug does better at telling the tale:

GMadScientist's picture

Nothing unnatural about consolidation in the laundering industry...mergers are always a great time to cook books.

delacroix's picture

wasn't safra connected to martin armstrong. maybe armstrongs computer model tracks narcotics fund flows. 11 years in prison, he definitely pissed off someone powerful. what I wonder, is why didn't they kill him too?

Sudden Debt's picture

This showsthe large silent diamond transports in Belgium.

and followed in 2013, the belgium government tried to shut down the diamond trade but was cornered and the story died.

BKbroiler's picture

+1 for the cheech and chong reference.

Oracle 911's picture

This is the exact reason why I despise the Anglo-Saxon "elites". This amount of hypocrisy is bad for anyone stomach. 

sessinpo's picture

If I had the wealth of a 1%, I too would do what I could to preserve it. A person that wouldn't is a person soon parted with his money.

Anyway, I take myself to the point I often make. Who makes these rules? Who empowers these banks? And who benefits from it?



logicalman's picture

Banks and government....

conjoined twins - connected by corruption.


Oldwood's picture

Given that government creates laws and has sole discretion in their enforcement, it would seem that any long term existence of corruption can ONLY occur with knowing accomplice of government. Sure monied people of all stripes will seek to buy influence in government, but ultimately it is government's responsibility, its mandate, to avoid, resist and defy ALL corruption. And ultimately it is up to us to kick the corrupt bastards out, rather than voting for the best thieving liar...but there you go.

Regardless, rather than holding those in our government responsible, we instead attempt to simulate economic justice through taxation and other redistributive efforts which ultimately only punishes the honest, as the corrupt always have their means of escaping it. The corporate tax is an excellent example given that some pay virtually zero tax while others pay the highest tax rates in the world.

Continued calls for government to eliminate corruption in the private markets misses the point as the seat of corruption IS the government, and until that is corrected, things will only get worse. We are giving the cancer the power to decide which cells receive the fatal dose of chemo, and the host will die.

11b40's picture

You are correct, and the stacked Supreme Court drove the nails through the coffin for the U.S. when declaring 1.) that money is speech, thus insuring the special interest unfettered license to buy politicians, and 2.) corporations are people, giving them rights that, in reality, place corps above people.

The right-wing interests worked long and hard to make this happen, using the old tried and true 'conservative values' tricks to keep us focused on things like abortion, and gays, and any other possible distraction to whip up red meat frenzy...all the while masking the real agenda of the men behind the curtain - Fascism.

11b40's picture

Well, I see there is one down arrow so far.  No rebuttal, but that is to be expected from those who would rather impose their personal social agenda on others at the expense of everyone's personal liberties, as we are sold down the river to special interests.  And the sad thing is, the Fascists don't really give a damn about abotion, gays, drugs, etc.  They are just politcal tools they use to sway the weak minded to do their bidding.  I'm a child of the deep South.  Been among such morons all my life.

Oldwood's picture

The way you fix that is to get government out of everyone's pockets so when we vote, when our representatives vote, they are not effectively reaching into someone's pockets. The fact that our government has evolved from taxation for the common good to taxation for redistribution to effect "equality" and pursuit of specific agendas, has created the massive opportunity for corruption that rules our world.

This works splendidly as their corruption creates even greater disparities, from which the people demand relief...that can only come from more taxation and redistribution.

The answer is not to make a new industry to stamp out government corruption, much like our war on poverty and crime and illegal aliens. The answer is to eliminate the incentives for corruption. Take away their powers to tax arbitrarily and discriminately. Taxes should be universal and indiscriminate as every attempt to balance or make them more "progressive" creates ever more opportunity for corruption.

Like affirmative action, the answer to discrimination is not more discrimination, but NO discrimination. Leave charity to the citizens.

Whatever happened to concept of blind justice?

logicalman's picture

If you vote, you are complicit in the crimes of government.

Oldwood's picture

If you are not in are an accomplice.

Liberty2012's picture

You are an accomplice even in jail - taxes are supporting you ;)

Euro Monster's picture

If you had the wealth of a 1%, you would do what you could to preserve it. Therefore, you would bribe and advise the government in order to preserve your wealth. Don't forget about that BOY, cause blaming the government for all the evil is simply put "IGNORANCE".


Got it?

logicalman's picture

The rate of psychopathy in humans is approximately 1%

1% run the place.

Big clue there, I think.

Government encourages the corrupt to be even more so, therefore it IS to blame to a fairly large extent.

They use the 'legal' system to commit crimes against the average guy.

Fiat money is another leg of the same table.


cynicalskeptic's picture

Newsflash -   Those at the "1%' level in the US is pretty much upper middle class - a guy who owns some dry cleaning places, a mid levell exec - their worth is maybe a few million.  Most are working 60-80 hours a week.  They are FAR closer to the absolute bottom than they are to ewven the top 1/2%.

The wealth curve is near exponential.  90% of the wealth in the 'top 1%' is in the top 1/10 of 1% - with most of that in the top 1/100 of 1%.

Those at the very top puash the 'top1%' meme to buffer themselves - those at the 1% border are the ones far more likely to get looted......   let the masses exhaust themselves going after the marginally better off while the super rich hide in their nice big compounds with 6' high walls.

Perimetr's picture

The operation in Afghanistan is not run by the banks, it is run by the CIA.  The banks launder the money, yes, but the bulk of the profits -- about $1.2 trillion annually -- go to Langley.  They money is used to finance the wars, bribes, mercenaries, the global operations necessary to keep the oligarchs in power.

Note that the heroin production was stopped in 2000 by the Taliban.   Now after more than a decade of US/NATO intervention, the annual production is over 9000 tons.  One more aspect of the nazism that controls the polices of the "Free and Democratic" West.

WillyGroper's picture

Is this why the spooks are on lockdown?


logicalman's picture

In the '70s most heroin came from 'The Golden Triangle' - when US was heavily involved in the area

Today most H comes from Afghanistan - where US is heavily involved.


theLonelyTrader's picture

Did you read the entire article? Surprised there are so many upvotes here...maybe those knuckleheads didn't read the article, either. You repeated assertions and asked a question that were all quite clearly addressed.

A Nanny Moose's picture

Note that the heroin production was stopped in 2000 by the Taliban.

...but but but....the women were being oppressed. We did it for the Children, and the dead guy in the cave who orchestrated it all

daveO's picture

And now you see what happens when women out vote men. 'It's for the children' can be used to castrate every last man on the continent.

booboo's picture

They hate us for our "Dare" Program, my chillen got the t shirts too.

How do you know if the driver is stoned? They all have "Dare" bumper stickers.

AssFire's picture

Reminds me of Michael Ruppert's writings/ RIP Michael.