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Posts Tagged ‘Financing Practices’

Related imageThe Jonestown Banks
by John Judge, 1982

The assets of Jim Jones’ People’s Temple have yet to be fully accounted, but early research in the press and by independent investigators put the total between $26 million and $2 billion. Following the money leads down a twisted trail of international banks, dummy fronts, real estate investments and conflicting government reports. Various sources estimate a total of at least $17-$20 million in foreign investments, and property worth $2.5 million that passed through deed, sale and ownership from 1976 to 1979. Some $12 million dollars was deposited in mysterious accounts in Panama.

During the recent scandal involving the Vatican Bank, Bank Ambrosiana and deceased Italian financier Roberto Calvi, information surfaced indicating that some of the siphoned millions went to Panamanian (more…)

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Image result for nugan hand bankMore CIA Treachery: Nugan Hand Bank Ltd
By Elias Alias, 2015

This latest version of the selected excerpts from Alfred McCoy’s masterpiece on the CIA’s dope dealing escapades is more complete than previous postings. I have typed in passages from pages 461-472 in Alfred W. McCoy’s bombshell book, “The Politics of Heroin: CIA Complicity In The Drug Trade“, (1991; first edition 1972.)

At 4:00 a.m. on January 27, 1980, a state police officer patrolling a country road west of Sydney, Australia, noticed a late-model Mercedes sedan parked by the side of the road and stopped to examine it. Inside the constable found the body of a middle-aged male slumped forward, still holding the rifle he had apparently used […] Searching his wallet, the police found personal identification for one Frank Nugan, a merchant banker of Sydney, and a calling card from one William Colby, a New York lawyer who had recently retired as director of the U.S. Central Intelligence Agency.

The circumstances of Nugan’s [death] and the bank’s spectacular collapse only six months later have inspired hundreds of press probes, three major Australian government investigations, and a lengthy (more…)

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Image result for nugan – australiaNugan Hand Bank
By John Simkin, 1997 (updated 2014)

In 1973 Frank Nugan, an Australian lawyer, and Michael Hand, a former CIA contract operative, established the Nugan Hand Bank. Another key figure in this venture was Bernie Houghton, who was closely connected to CIA officials, Ted Shackley and Thomas G. Clines.

Nugan ran operations in Sydney whereas Hand established a branch in Hong Kong. This enabled Australian depositors to access a money-laundering facility for illegal transfers of Australian money to Hong Kong. According to Alfred W. McCoy, the “Hand-Houghton partnership led the bank’s international division into new fields – drug finance, arms trading, and support work for CIA covert operations.” Hand (more…)

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Image result for pine gap – australiaNUGAN HAND, THE CIA, AND AUSTRALIA
Project Censored, 2015

An American spy story with more intrigue than James Bond’s best has been unraveling in Australia since 1975 but yet has to grab the attention of our press. While the story is more complex than the proverbial can of worms, it involves:

— CIA involvement in the overthrow of an Australian Prime Minister, Gough Whitlam, representative of the Labor Party;

— Pine Gap, a U.S. satellite and communications base in Australia, said to be our single most important installation for monitoring the Soviet Union and Asia’; Prime Minister Whitlam was trying to shut Pine Gap down when he was ousted; (more…)

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Image result for chavez and aristideHAITI & VENEZUELA – COUP & EMPIRE (Part I)

Stan Goff exposes the underlying forces driving the current crisis in Haiti. The recent coup d’etat is only the latest in two centuries of violent transfers of power in that country – but today the regional balance of forces is refreshingly new. Venezuelan President Hugo Chavez has foiled a series of desperate CIA attempts to gain control of that oil-producing nation.

While the Bush administration arrogantly plays the same the old game in the same old way, using the same old felons and convicted murderers, new rules are being written by an awakening transnational solidarity in the hemisphere. Markets, privatization of natural resources, drug routes, cheap labor – all are at stake in the US elite’s scramble for Haiti. But Goff shows how an even more important motivation is stinging the Bush junta into frenzied action: when white supremacy is symbolically wounded, others have to bleed. (more…)

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Image result for thatcherSECTION IV: HISTORICAL ISSUES
Margaret Thatcher and the EU
By David Ramiro Troitiño

Margaret Thatcher has been one of the most influential politicians in the European building process. Many people still share her ideas today and her participation in such issues as the Single European Act or the solution of the British question has consequences concerning our lives. So the reason to discuss this subject is not just to explain her attitude towards Europe and the EU, as that is already well known, but to explain the context of her decisions and especially to explain the consequences of her actions and ideas in the current European Union.

Thatcher was continuously a champion of the euro skeptics, a defender of national sovereignty and the independence of the EU member states from the European institutions. Her basic idea of Europe was related to loyalty and the transfer of this loyalty from the national to the European level. She considered the EU a utopia that could endanger our societies, our liberties, and our ways of life. (more…)

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Margaret Thatcher, prime minister, in 1980. Photograph: PA/PA Archive

UK reimbursed in excess of €111 billion by EU since 1985
By Georgi Gotev, 2016

Thanks to the “UK rebate” won by Margaret Thatcher, over the last three decades, the United Kingdom has been reimbursed more than €111 billion from the EU budget […].

[In] the Brexit referendum, the European Commission missed the chance to highlight the fact that the UK has the best deal with the EU. Based on publicly available data, calculations show that beginning in 1985, when it was used for the first time, until 2014, the last year for which budget data is available, London was refunded a total of €111,124.10, or £85.5 billion, by Brussels. This is roughly the yearly amount of the EU budget.

Credit goes to Margaret Thatcher, who on 25 June 1984, at the Fontainebleau European Council, snatched the so-called “UK rebate”, by threatening to halt payments to the Communities budget unless she didn’t get a rebate. (more…)

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