Showing posts with label Cocaine. Show all posts
Showing posts with label Cocaine. Show all posts

Saturday, February 23, 2008

Cheap Cocaine Floods Argentina


A highly addictive, smokable cocaine residue called paco has caused a cycle of drug-induced street violence.The scourge underscores a significant shift in both Argentina and its larger neighbor, Brazil, which in just a few years have become sizable cocaine consumers. Brazil now ranks as the second largest consumer of cocaine in the world after the United States, the State Department says. The surge in drug use has been fueled by porous borders, economic hardship and, more recently, the rolling back of restrictions on coca growing since President Evo Morales took office in 2006 in neighboring Bolivia. The result has been the democratization of cocaine in this part of South America, which has become the dumping ground for cheaper, lower-quality cocaine. The challenges to stopping the flow are immense. Fewer than 200 federal police officers patrol Brazil’s 2,100-mile border with Bolivia, though the Brazilian government says reinforcements are on the way. Only 10 percent of Argentina’s airspace is covered by radar, leaving traffickers free rein.http://www.nytimes.com/2008/02/23/world/americas/23argentina.html?ex=1361509200&en=aa6a6ae7c5afeb81&ei=5124&partner=permalink&exprod=permalink

Wednesday, January 16, 2008

Cocaine Boom in Europe Fuels Euro Laundering



A cocaine boom in Europe and the continent's strong currency have combined to fuel a thriving industry: euro laundering.

With the euro approaching $1.50 and soaring demand for cocaine in countries like Spain and Italy, Europe has become a far more lucrative place to do business for Latin American drug cartels than in previous years.

To obscure the origins of the funds, and escape government scrutiny in the process, the cartels use a complex system to launder their proceeds -- much of which is landing on U.S. shores.

In late March, U.S. authorities arrested a man carrying a leather duffel bag who had just landed at Los Angeles International Airport on a flight from Santiago, Chile. Inside the bag was more than $1.9 million in cash, mostly in bundles of €500 and €200 notes. http://online.wsj.com/article/SB120044304824892769.html?mod=hps_us_pageone

Blog Archive

Alfred Hitchcock's "Foreign Correspondent"

Foreign Correspondent (Trailer)

Add to My Profile | More Videos" align=left hspace=5> http://myspacetv.com/index.cfm?fuseaction=vids.individual&videoid=10157487

WSJ.com Video

FRONTLINE - View Online | PBS