The Federal Reserve Launders Money

From the Spotlight of November 30, 1987 information concerning money laundering from south of our border was revealed by a member of President Reagan’s Commission on Organized Crime. The Federal Reserve made it all possible.

By George Nicholas

The Federal Reserve System is a shadow government of private bankers. It has been turned into a money laundry by narcotics traffickers who now tally their take in the billions each month.
The SPOTLIGHT has learned this in the course of an investigation that has included interviews with knowledgeable Wall Street analysts and federal law enforcement sources over a period of several months.

Surprisingly, it was found that some of the nation’s leading crime experts privately hold the Fed responsible for banking-and concealing-the huge profits pocketed by international drug dealers.
“These deals involving hot money’ are the Fed’s dirty secret,” asserted James Harmon Jr., executive director of President Ronald Reagan’s Commission on Organized Crime, at a recent conference of federal prosecutors.

His criticism was subsequently related to The SPOTLIGHT by a young assistant U.S. attorney who was present at the meeting. “We are talking about serious sums here – major pushers pumping as much as $40 billion a year into our economy. After it’s recycled through the Fed, it’s invested in legitimate businesses.”

Other investigators, although arguing that $40 billion was the low estimate for this covert currency traffic, confirmed by Harmon’s main point.

“It’s right there in the open, if you care to look ” says Walter Thaggart, a former Florida plain-clothes officer who now works for a large law firm.

Every Tuesday and Friday, a line of armored cars is drawn up at Miami’s airport to meet flights from Panama and Venezuela. The planes bring back couriers carrying steel suitcases, often secured with wrist chains. Armed guards and trucks convoy them into Miami, where the steel cases are opened and the contents-bundles of U.S. currency deposited at the Federal Reserve….

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