Wednesday, December 16, 2009

Drug Dealers- Saviours Of The World

Drugs money saved some banks from collapse at the height of the global crisis the United Nations' drugs and crime chief claimed today.

Antonio Maria Costa, head of the UN Office on Drugs and Crime, told the Observer that there were signs that some banks were rescued by billions of dollars that 'originated from the drugs trade and other illegal activities.'

Of course if drugs were legal, dealers would not have so many liquid assets to prop up our financial institutions.


Mark Wadsworth said...

I wouldn't worry about it.

If drugs were legal and hence cheaper, the govt could collect tax on them and save money on police.prisons; and people would have more money to spend on other things, so while wealth would be distributed slightly differently, we would be richer rather than poorer, ditto banks.

Ross said...

"we would be richer rather than poorer"

Sure but wouldn't our assets by less liquid though?