Wednesday, December 07, 2005

CIA, Wilkes, Cunningham, Abramoff, cocaine, Iran-Contra, Clinton, Bush, Money Laundering....

The following is taken from


San Diego businessman Brent Wilkes, a key figure in the Randy “Duke” Cunningham bribery scandal—as well as the Justice Department investigation of Republican lobbyist Jack Abramoff—worked in Honduras during the 1980’s for a company accused by federal prosecutors of deep involvement in cocaine trafficking.

Over the weekend the San Diego Union-Tribune, Cunningham’s hometown paper, reported that Brent Wilkes has a two decade long history of close links with the CIA. Posted Dec 7, 2005 07:53 AM PSTCategory: POLITICS/CORRUPTION

The Iran-Contra scandal shaped current American politics. Run out of the Reagan/Bush White House, the US end of the pipeline was originally in Mena, Arkansas, protected by then governor Bill Clinton. After Eugene Hassenfuss' plane went down and the lid was ripped off the scandal, Bush Sr. had to leave the White House after just one term, but arranged for Governor Clinton to succeed him in order to keep the lid on the really darker parts of the scandal, which was government sanctioned drug running and money laundering/growing using the S&L debacle.

Here is how the scam worked. First President Bush (Sr) raised the insurable deposit limit from $10,000 to $100,000 for S&Ls. Cash from CIA cocaine smuggling was mixed with the cash proceeds from legitimate cash based businesses such as convenience stores, multi-screen cinemas, office supply stores, etc. then after taxes were paid, brokered into individual accounts, all under $100,000, in a targeted S&L.

A phony business front would be set up by the CIA drug smugglers, and would approach the S&L for a loan, using overvalued (flipped) real estate as collateral. Since proceeds from a loan are non-taxable, the money could be sent anywhere in the world, laundered, ready to use for anything. The phony business front would collapse, and the S&L would find itself holding land that was worth far less than had been loaned on it, and collapse.

BUT, the CIA operatives were still on the books for their original deposit, even though they had already "borrowed" it out of the S&L. So, Bush (Sr.) set up the Resolution Trust Company that went around with a checkbook writing checks to the original depositors; again money that was clean and could be spent anywhere.

This little scan would not only launder the CIA's drug money, but almost double it at the same time, all inside the US, with no risk, and all on the backs of the US Taxpayers.

Sounds pretty wild, right? And here is what is wilder. Its happening again. We just got our of a round of land flipping that artificially inflated land prices, and Bloomberg is already reporting that the bubble is starting to burst. And here we have one of the original Iran-Contra CIA operatives, clearly involved in illegal activity, and running a string of phony PO Box phony business fronts.


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