Russian Military Paper Covers Ivanov's Call for Glass-Steagall
July 16, 2012 • 8:49AM

The latest Internet edition of Red Star, the daily magazine of the Russian armed forces, carried an article on the presentation of Viktor Ivanov, Director of the Federal Narcotics Service of Russia, in Peru and Argentina. The article goes through his description of the growth in the global narcotics trade, including heroin from Afghanistan and cocaine from Latin America. Red Star notes that even with 130,000 NATO troops in Afghanistan, only about 4% of the heroin traffic has been confiscated and destroyed. It also describes how heroin use is proliferating among the Russian youth.

It then notes how the money has become the major source of income in the world financial system. "According to the figures of the UN and the World Bank, the drug mafia extracts from the drug trade $500-800 billion yearly. These gigantic sums are swallowed quite willingly by the banks, strapped with a chronic lack of liquidity because of the economic crisis. So, if not directly, then indirectly, the banks are interested in the drug mafias. Therefore, it's necessary to revamp the world financial system in order to impose a barrier on the dirty money."