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JP Morgan Chase Ship Busted: Cocaine, Banks and the Failed Drug War

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A ship seized by the U.S. Customs and Border Protection Agency in June carrying over 15,000 kilos of cocaine has now been tied to JP Morgan Chase’s asset management unit. Officially the company does not exercise any operational control of the vessel, but some serious questions are raised when such large scale transport is used for black market exchange. Especially given the extensive history of globally established banks paying reparations for money laundering. In view of this, Richard Nixon’s “War on Drugs,” and the popular focus on bitcoin and crypto as means to purchase illegal drugs, is interesting. Compared ...

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