Organized Crime Groups Dumping Weak US Dollar For Euro

AFP:

The weakened US dollar has fallen out of favor with organized crime groups to pay for drug shipments or to settle scores, a Canadian government report said Friday.

And if the greenback continues its slide in 2008, as expected, more and more criminals are likely to exchange euros for illicit goods, said Criminal Intelligence Service Canada in its annual report.

Read the whole story: AFP

Comments

[gretchenart]

when even the gangsters think the dollar is worthless, we know we are in deep doo doo. Best thing is to get out of debt and pay down our mortgages, if we still have one, as best we can, because when the house of cards collapses, we won't be able to use our dollars anywhere except at home and we will be priced out of our income ranges by the inflation that comes with every dollar devaluation.

[cylindar]

Euro-Schmuro. We don't need no stinkin money

[ashabot]

Ha ha. That's a blow to the US "war on drugs", which is nothing but a big ponzi scheme anyway.

[Rule Of Law]

Air America is alive and well in Afghanistan. Where there is a Euro to be made, our leaders will get their cut.

[MetalCanuck]

Dick Cheney switched his money last year before the bottom fell out of the market..so that rat was gone long ago. He also has a house in Dubai he will be moving to so he can retire. Bush is going to another country where there are no extradition laws.

[Heavy]

He is buying property in Paraguay.

[MetalCanuck]

Thanks, I forgot the name of the place. But he is planning an escape.

[gakabani]

BUSINESS IS BUSINESS!

[VivaZapata]

How far is it from Little Odessa to Wall Street?

[dukeitout]

Organized crime should have started dumping the dollar 2 years ago if they wanted to take advantage of a weakening dollar. The dollar is now getting stronger vs. the euro. Their bad timing couldn't happen to a nicer group. If I've offended you Mr. Crime Boss, I'm sorry. Don't hurt me. Huffpost----I beg you, don't give them any information about me.

[procrustes]

NEVER question the wisdom of rats deserting ships.

[MetalCanuck]

LOL thats right:)

[themodernleader]

Buffett just invested one half billion in the Chinese economy. The insiders are abandoning American securities, bonds and debt for gold, commodities and other assets. Now, even the criminal class who have made their largess off the American people are abandoning ship. When sailing is smooth and straight ahead, every body is our friend. When the ship enters a hurricane and loss of direction, all the first class and their criminal associates are abandoning ship. We must know that we are alone, poor people of a poor, desolate nation left to go forward after a quarter century of being hyjacked and robbed and stripped of our competence confidence and self-respect. But we should not see our station as our own failure but as a learning experience that shall never be repeated. Instead, we must stop the hemmoraging, repair the arteries, and reconstruct and rehabilitate our personal, social, employment and political condition. Only under our Constitution can we renew and regain our former power and glory on earth before we can gain the power and glory of heaven.

[SgtLucifer]

I am asking my boss to begin paying me in Euros, and if McCain makes it to the White House, I am demanding payment in Pesos.

[MetalCanuck]

LOL, the dollar would drop on the news of a McSame win thats for sure, even if Obama will not save the dollar either.

[plages]

Now they're some smart people, just wait for China, Russia, India, and all others who hold our debt! You just know that the bush people have cashed in their dollars for the EURO!

[nomoredead]

I wonder how many billions have moved into foreign currencies and the affect that has had on the many bank problems ? Do you think the big guys would sit and watch the dollar drop and not do anything about it ?

[BigBagel]

The NFL starts next week. Will I have to pay my bookie in Euros? Tony Bagodonuts better still take my dollars.

[sparkey]

When the drug dealers on the street start wanting euros instead of dollars, then we'll know we've hit bottom.

[gcallaghan]

How many euros do they get for a missing pallet of cash?

[revko]

The dollar goes bada boing

[manndan]

When I heard about some supermodel wanting to be paid in Euros (though she probably has a financial adviser) I didn't really pay attention. Now I know that the Dollar is no longer sound.