Global War on Terror

The Financial System Is A Larger Threat Than Terrorism

In the 21st century Americans have been distracted by the hyper-expensive “war on terror.”  Trillions of dollars have been added to the taxpayers’ burden and many billions of dollars in profits to the military/security complex in order to combat insignificant foreign “threats,” such as the Taliban, that remain undefeated after 15 years.  All this time the financial system, working hand-in-hand with policymakers, has done more damage to Americans than terrorists could possibly inflict.

Comprehensive Immigration Bill is a Disaster for American Workers

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America has a problem, a big problem.  We have a Congress who will only act when powerful lobbyists throw enough money at them.  Such is the result of the new Comprehensive Immigration Reform bill.  This bill will be an unmitigated disaster for working America.  The bill increases the U.S. legal labor supply by at least 14 million by giving not just those here illegally legal status but also those who were previously deported who still have family members in the U.S. the legal status to work.

Latest Bank Money Laundering Scandal Shows Federal Regulators M.I.A.

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You f---ing Americans. Who are you to tell us, the rest of the world, that we‟re not going to deal with Iranians. -- SCB‟s Group Executive Director

Laudering money for rogue nations and drug cartels seems to be par for the course. The latest scandal is this bomb: a British bank has been laundering Iranian money for over a decade. The New York State Department of Financial services filed an Order Pursuant to Banking Law § 39, which that describes willful and egregious violations of law by Standard Chartered Bank, aka SCB. The above quote is part of the documentation against SCB.

For almost ten years, SCB schemed with the Government of Iran and hid from regulators roughly 60,000 secret transactions, involving at least $250 billion, and reaping SCB hundreds of millions of dollars in fees. SCB‟s actions left the U.S. financial system vulnerable to terrorists, weapons dealers, drug kingpins and corrupt regimes, and deprived law enforcement investigators of crucial information used to track all manner of criminal activity.

Banks Launder Money With Impunity

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laundering moneyHSBC is a bank. They are also a money launderer. Last week the Senate subcommittee on investigations, part of the Senate Committee on Homeland Security and Government Affairs, issued a report (pdf) and held a hearing, U.S. Vulnerabilities to Money Laundering, Drugs, and Terrorist Financing: HSBC Case History. Contained within is a laundry list, if we can use the pun, of HSBC evil doings and how they mechanically laundry money for drug cartels, terrorists and tax evaders.

This is over a decade past 9/11 and seemingly HSBC has been operating with impunity. One of the conduits for money laundering is correspondent banking. Correspondent banking is when one financial institution provides services to another financial institution to move funds, exchange currencies, cash monetary instruments, or carry out other financial transactions. Even though in 2002, correspondent banking was recognized as a primary method to fund terrorist activities, the doors have not been shut.

Correspondent accounts continue to provide a gateway into the U.S. financial system, and wrongdoers continue to abuse that entryway.

Below is what has been done since 9/11, yet correspondent banking is alive and well.

Osama Bin Laden: Sui Generis?

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Originally published on The Agonist

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The non-state actor. That’s what he was called in the 1990s, before he became universally known as a mass murderer. Academics used it as a euphemistic term for an individual who took on state power, before they came up with the phrase ‘asymmetric warfare.” Osama Bin Laden was, if not the inventor of asymmetric warfare, the master of the technique, the man who single-handedly took on the world’s hyperpower.

How much more asymmetric could you get by spending $200,000 to bring down the globe’s colossus? In one terrifying morning Osama Bin Laden killed nearly 3,000 Americans, some of them tortured to death - forced to choose between being burnt alive or jumping to their death from 96 stories. In the process, he sent the United States on a path of self-destruction, as the nation lost its way between two schizophrenic and conflicting impulses: living in perpetual fear of terrorists, or strutting about the world stage with military bravado, killing hundreds of thousands of invisible, innocent men, women, and children because they were Muslims.