Max Keiser Blames Crash of 2008 on Mexican Drug Lords.... believe it or not

by Scott Creighton

UPDATE: read Bill Conroy’s recent article about L-3 and the private sector mercenaries already in Mexico. Then go here to read an article about how the VAST MAJORITY of Mexican people have been protesting to end the US led “war on drug cartels” which has led to over 38,000 dead civilians in Mexico since the new neo-liberal president of Mexico took over and invited in the CIA and mercenary thugs from the US.

“A sea change has occurred in Mexican public opinion. The people have turned definitively against the use of the Mexican Army to combat against drug traffickers. The cry from every city square yesterday was for the Army to return to its barracks and go back to doing the job it was formed to do; protect Mexico from foreign invasion and provide human aid relief in case of natural disasters such as earthquakes and hurricanes.” Al Giordano

Isn’t that curious? Massive demonstrations against the US led “war on Mexican drug cartels” take place and out comes a new bit of PR being floated on the Keiser Report about how those drug cartels are responsible for crashing our economy?

What a coincidence, huh?

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Typically, I like Max Keiser. Today, I don’t.

Below is a video from April 7th’s Keiser Report titled “Cocaine Makes the World Go Round”. In this report Max covers a lot of topics ranging mainly from the revelation (which I covered as well) of Wachovia’s 390 billion dollar Mexican drug money laundering program and their 100 million dollar fine they paid for it. Not a bad deal in a country that will take everything you own if you are caught with an ounce of coke (unless of course your the son of a guy named Martin Sheen).

The problem is that Max goes on to say that it was the cocaine dealers that ultimately caused the financial “crisis” of Aug. 2008 and that the heads of the big banks were simply reacting to an unintended consequence (rather than implementing the final stage of a plan they had set in motion nearly 10 years before)

He and his co-host explain how certain banks were pulling money out of the system in July of 2008 and one of those happened to be a bank out of London (Rothschild’s bank?) who was helping to launder all that drug money.

Then they detail how all the big 5 banks here in the states lined up at the Fed’s discount window looking for handouts in Aug.

His conclusion is that the drug cartels pulled their money out of the banks because they were mad about an investigation and that spurred the credit crisis.

He’s wrong.

The banks moved the drug money out of their systems because they knew that eventually there would be investigations into their solvency and they didn’t want that drug money found sitting in their vaults. They also needed an excuse to freeze credit and having nearly half a billion lying around wouldn’t look to good once the freeze started.

The banks created the credit crisis because they wanted the economy to fail so that they could get the massive bailouts after they poisoned the system with their worthless over the counter derivatives that they also bet against. That’s why they repealed Glass-Steagall, that is why they got rid of Brooksley Born, that is why they made it illegal to regulate these specific weapons of economic destruction.

Keiser suggests that 380 billion, only 30% of the GDP of one country, Mexico, set off the global financial meltdown? That makes sense to Max?

The drug cartels had nothing to do with it and Max of all people should know that. They just moved their money so that it wasn’t found in the investigations that were to follow. In fact, they didn’t move it, the bank did. And they probably didn’t stick it under their bed, they moved it… to another bank.

But this info is useful if you want to see how the big 5 US banks were lining up at the discount window BEFORE they unleashed the credit crisis which is still killing our economy.

Here’s the video anyway.

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