Archive for June 2017

Continued from part 1. In 2007, a jet was confiscated in Mexico that contained over $100 million worth of cocaine. The information from this raid showed that Wachovia, then the fourth largest bank in the United States, was used as a gateway to launder up to $378 billion through the U.S. banking system. This is…

Roughly 1 to 2 trillion dollars are embezzled around the world every single year, according to experts, who estimate that between 2-5% of global GDP is laundered money. In terms of where this money is laundered, the United States makes up for a significant portion of laundered money. One particular reason for this is that…

In order for Iraq’s economy to truly start to replenish is for the infrastructure across the country to be rebuilt. Without infrastructure, the necessary systems to function in a modern economy are simply not going to be in place. To address this very imminent need, the government of Iraq has put into place a five…

Every handful of years, a large debate over the basis of our financial systems crops up, with calls yearning for a return to the gold standard, where all paper money was backed up by a tangible resource, such as gold. At first glance, there might be some reason to these appeals. After all, gold has…