Antonio Maria Costa, head of the UN Office on Drugs and Crime, said he has seen evidence that the proceeds of organised crime were \”the only liquid investment capital\” available to some banks on the brink of collapse last year. He said that a majority of the $352bn (£216bn) of drugs profits was absorbed into the economic system as a result.
Now leave aside for a moment that wibble about drugs money entering the banking system. Of course it enters the banking system, always has done and always will.
Concentrate instead upon the number there.
A couple of hundred billion quid, eh?
In profits that is.
Excellent. So, let\’s legalise and tax: we\’d be able to get half of that just as we can get around half of most legal activities (VAT plus corporation tax is about half).
Punters get cleaner drugs, meaning that health care costs go down. Violence goes down as market share is competed for with advertising not guns, so policing costs go down. Human rights increase as those who wish to ingest are able, legally, to ingest what they wish.
And we get £100 billion to spend on, well, I dunno, research into green energy, abolishing poverty in the Third World, these seem to be popular ideas.
Sounds like a much better idea than this wibble about crippling the banking system, doesn\’t it?