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22:45

Western banks 'reaping billions from Colombian cocaine trade' | World news | The Observer

…”The whole system operated by authorities in the consuming nations is based around going after the small guy, the weakest link in the chain, and never the big business or financial systems where the big money is.”

The work, by the two economists at University of the Andes in Bogotá, is part of an initiative by the Colombian government to overhaul global drugs policy and focus on money laundering by the big banks in America and Europe, as well as social prevention of drug taking and consideration of options for de-criminalising some or all drugs.

The economists surveyed an entire range of economic, social and political facets of the drug wars that have ravaged Colombia. The conflict has now shifted, with deadly consequences, to Mexico and it is feared will spread imminently to central America. But the most shocking conclusion relates to what the authors call “the microeconomics of cocaine production” in their country.

Gaviria and Mejía estimate that the lowest possible street value (at $100 per gram, about £65) of “net cocaine, after interdiction” produced in Colombia during the year studied (2008) amounts to $300bn. But of that only $7.8bn remained in the country.

“It is a minuscule proportion of GDP,” said Mejía, “which can impact disastrously on society and political life, but not on the Colombian economy. The economy for Colombian cocaine is outside Colombia.”

Mejía told the Observer: “The way I try to put it is this: prohibition is a transfer of the cost of the drug problem from the consuming to the producing countries.”

“If countries like Colombia benefitted economically from the drug trade, there would be a certain sense in it all,” said Gaviria. “Instead, we have paid the highest price for someone else’s profits – Colombia until recently, and now Mexico.

“I put it to Americans like this – suppose all cocaine consumption in the US disappeared and went to Canada. Would Americans be happy to see the homicide rates in Seattle skyrocket in order to prevent the cocaine and the money going to Canada? That way they start to understand for a moment the cost to Colombia and Mexico.” …

Reposted bydrugssoberNoodletompaket

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