Global Economic Security

Battlefield - Money Laundering

The United Nations and Colombia have signed a so-called agreement aimed at stopping the production of cocaine in the South American country? The non-binding agreement was signed plans to urge farmers to grow crops such as coffee and cacao instead of coca used for making cocaine by a voluntary substitution program.

Colombia and the UN are hopeful that the UN-backed initiative initiative will eliminate the drug trade in the country by offering its 120,000 coca-growing families incentives to go legal. The scope and schedule of the project is to get rid of 100,000 hectares of coca harvesting by next year.

Colombia is ranked by the UN as the world’s biggest producer of coca leaves used to make cocaine, which is usually in the form of a white powder used by snorting or injection for pleasure or used in some medical cases to prevent pain. In New York City cocaine is sold at $60 to $80 per gram on the street.

As long as there’s a voracious appetite in USA for cocaine, this pact will not work. Besides there are alternative suppliers in Peru, Bolivia and other mountainous countries in the world. The lucrative cocaine production will increase as this money will be used to support production among chosen farmers.

Central Intelligence Agency anti-drug program in Venezuela shipped a ton of nearly pure cocaine to the United States in 1990, The agency issued a statement calling the affair “a most regrettable incident” involving “instances of poor judgment and management on the part of several C.I.A. officers.” The one at the top was the President of the USA, caught looking at his watch during a debate!

The only way to eliminate the criminal incentive is to legalize the substance, but not to make it more expensive for it to become a more lucrative trade.

ABC / AA Magnum Analyst Blog News 2017.

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