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July 19th, 2010 at 6:39 am
Legalize drug trade – If we go this route, just make sure you are short Wachovia! (see last week’s archives.) I would make a huge FAZ disaster hedge since the loss of money laundering income will hurt banking. It would probably hurt banks more than the recently passed financial regulations. The illegal drug trade is estimated to be equal to at least 5 percent and possibly as high as 10 percent of global commerce. (I’ll have to dig awhile to find the research, since I read it three or four years ago.) Its not just violent drug gangs and the Taliban getting rich off this trade, so I don’t see there being much political will among the big banks to end this.
Before we legalize drugs lets do a test and see if we can cut down the spread of diabetes that is being caused by the very legal twinkies and Coca Cola. If our public health and education system can cut down on obesity and diabetes over a five year period, then we might be able to tackle the kind of plan it would take to deal with illegal drugs.