Just. One. Moar...
Via Der Spiegel [5]
[6]
A mountain of seized drugs waits to be set on fire in Quetta, Pakistan as part of a ceremony marking the UN International Day Against Drug Abuse and Illicit Trafficking. All across the world, anti-drug campaigners took a stand against drug abuse yesterday. Throughout Pakistan the Anti-Narcotics Force destroyed 121 tons of narcotics. Drug trafficking from neighboring Afghanistan has increased drastically in Pakistan over the last 30 years.
And from RT:
Iran burnt at least 100 tons of illicit drugs on Wednesday in the capital in a ceremony attended by officials and foreign dignitaries. Officials said Tehran seized more than 500 tons of various narcotics in the last Iranian calendar year, which ended March 20. The ceremony came as the world marked the annual UN International Day Against Drug Abuse and Illicit Trafficking. Iran is located on a major drug route between Afghanistan and Europe, and large amounts of drugs flow through the country.
And a thought experiment in New Normal macromonetary linkages: If the mountain (of drugs) will not come to Manhattan, thousands of bankers will not spend other people's money to procure nose candy (and instead invest it in 50x fwd P/E stocks) thereby leaving dealers scrambling for liquidity, impacting downstream commerce (every NYC drug dealer provides for 2 stripper and 3 hooker jobs, and countless support occupations), and collapsing the velocity of money even more, pushing GDP lower, and making a Bernanke exit impossible.