Cocaine Dealers Demanding To Be Paid In Gold?

Quick lunchtime post – Don’t laugh at this. Many of these organizations are highly sophisticated financially and have substantial “grass” root economic information available to them. Pardon the pun.

I saw a study 3 or 4 years ago when international drug cartels starting demanding payment in Euros instead of the old standard U.S. dollars. It preceded a multi-year decline in the value of the USD.


Dealing gold in the Dominican Republic
Forget warnings from the IMF, the OECD and George Soros. You know your currency is well and truly down the swanny when even drug dealers are refusing payment in it.
In a report entitled US Gold, Going, or Completely Gone? Rob Kirby, forensic analyst at Kirby Analytics, says almost 3,000 metric tonnes of gold compounds were exported from the US in 2008."
Paul Mylchreest, of the Thunder Road Report, notes that a "very suspicious" 174 tonnes of gold compounds were exported to the Dominican Republican – "that well known hub of the world gold trade".
"Maybe these gold compounds really are used in gold paint and that artist who normally puts colourful tarpaulins around islands and buildings has painted the whole of the Dominican Republic gold," Mylchreest ponders. "I'll go and check Google Earth."
But, he reckons the transformation of the Dominican Republic into a key staging post in the cocaine trade between South America and the US, is a far more likely.
"Wouldn't it be interesting if drug smugglers have seen the writing on the wall for the paper dollar and will now only accept payment in gold bullion?"