Every empire picks a commodity to violently control as a means to suppress the populace. In the United States it is drugs. Elsewhere I have demonstrated legalizing drugs would do nothing to increase tax revenues since the illegal drug trade pays top tax rates in the process of laundering money. If anything, with legalization tax revenue would drop.
Just how big is the "illegal" drug trade? According to the IHT, big enough to save failing banks. Now if true, and the US govt cannot save failing banks, should we turn the problem of banks over to the drug dealers?
Tuesday, January 27, 2009
Black Market Saves Banks
Posted in Exceptional Wealth, free market, globalisation, International Trade Data, market intervention, medicine by John Wiley Spiers
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