The Russian Federal Drug Control Service (FDCS) website has posted a Russian translation of the April 27 EIR magazine interview with Antonio Maria Costa, former UN Deputy Secretary General and Executive Director of the United Nations Office on Drugs and Crime (UNODC). The Russian text is prefaced by a very good introduction and gives two links to the EIR article.
Under the headline, “On the Ties between Banks and Drug Money,” the FDCS introduction says:
“According to generally accepted estimates, including by UN experts, drug money defines an annual market greater than $500 billion, while its adverse impact on the real economic is two or three times greater. The annual damage to the world economy is $2 trillion, equal to the GDP of countries such as France or Great Britain.
“For example, at the height of the 2008-2009 financial crisis around $352 billion in drug money was thrown into the world’s largest banks to deal with their critical liquidity shortage; these funds were subsequently integrated into interbank operations.
“Investigations of criminal revenues laundering have revealed that the biggest banks have a critical dependency on the “dirty” but liquid proceeds of narcotics sales.
“In his presentations at the Washington CSIS in November 2011 and the Davos World Economic Forum in January 2012 [links given to each], Russian FNCS Director Victor Ivanov noted that reformatting of the existing economy could become a key area for eliminating global drug production, including in Afghanistan. This means a transition to an economy that excludes criminal monies and guarantees the reproduction of ‘clean’ liquid assets, i.e., a development economy, in which the basis for decision-making is development projects and targetted long-term credits.
“This is the topic of the interview given to EIR magazine by former Deputy Secretary General of the UN and former Executive Director of the UN Office on Drugs and Crime Antonio Costa.”
EIR of Nov. 25, 2011 reported on Ivanov’s CSIS speech under the headline “Liquidate Drug Trade with Glass-Steagall.” “Ivanov caused a major stir in the room by calling for a drastic transformation of the international financial system, in order to carve out the dirty money flows, protect the physical economy, and liquidate global drug trafficking,” wrote Matthew Ogden. “The model for such a transformation, he said, must be a revival of the logic of the Glass-Steagall Act of the United States in 1933.”
The Russian translation of Andrew Spannaus’s interview of Costa for EIR was featured on the front page of the FDCS and has been picked up by several other Russian websites. The English version of the FDCS site also republished the interview, using EIR’s own introduction, including this paragraph which also emphasized the fight for Glass-Steagall as a first step toward a completely different financial system: “On March 13, Costa teamed up for a live Internet debate from London, titled,’It’s Time To End the War on Drugs,’ with former New York State Attorney General, and then Gov. Eliot Spitzer, and former U.S. anti-drug czar Gen. Barry McCaffrey (ret.). Costa makes clear in the interview what financial interests are behind the campaign for drug legalization, and presents what amounts to a wake-up call for Glass-Steagall, and measures to end the interface of crime and banks.”