SchwartzReport: Banks Launder Billions for Cartels but No Accounts for Legal Marijuana Vendors

Commerce, Corruption, Government, Idiocy
Stephan A. Schwartz
Stephan A. Schwartz

You have probably noticed in stories about Colorado that the newly legal Marijuana business is run on a cash only basis because banks will not provide banking services. And you may remember the piece I ran the other day about how the government secretly was in league with one of the major Mexican drug cartels. Th! at led me to wonder whether the banks also had a secret deal. And, once again, a little digging turned up evidence that this was the case.

This makes the hypocrisy of the entire War on Drugs even more blatant and its inherent racism even more evident. Nothing about the War on Drugs is what it appears, except the destruction of hundreds of thousands of families and the endless incarceration of Black and Brown kids.

Big Banks Launder Hundreds of Billions of Illegal Drug Cartel Money … But Refuse to Provide Services for Legal Marijuana
WashingtonBlog

Phi Beta Iota: The banks are following federal guidelines designed to screw the street-level merchants while ignoring the high crimes of the major banks doing the billion dollar money-laundering.