Green Energy
YNet reports that leading terror organizations like al-Qaeda are among the very few investors who have not been hurt by the massive drop in stock values over the last several weeks. That's because they don't keep their money in banks anymore due to sanctions imposed by the West. But there's a silver lining in that cloud: While the terrorists aren't losing their money, they can't move it very efficiently either.
Cross-posted to Israel Matzav.
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Green Energy
Guess who didn't lose money when the banks crashed
YNet reports that leading terror organizations like al-Qaeda are among the very few investors who have not been hurt by the massive drop in stock values over the last several weeks. That's because they don't keep their money in banks anymore due to sanctions imposed by the West. But there's a silver lining in that cloud: While the terrorists aren't losing their money, they can't move it very efficiently either. One principal reason the groups may avoid fallout now is because they've been forced to pull away from banks, relying instead on less-efficient ways to move money.Terrorists are primarily funded by oil money (principally Saudi and Iranian) and by the drug trade in Afghanistan. Are they losing money because of the drop in oil prices? Maybe. But the price of oil is still higher than it was in January 2007. So while the boom in terror funding may be over, they're not losing money by any stretch.
Those methods - including hand-carrying money and using informal money-transfer networks called hawalas - likely will shield extremists from the current banking system turmoil.
But the methods also are slower and less efficient ways to move money - and thus could hamper efforts to finance attacks, analysts say.
"It would be inconceivable that large amounts of (terror-linked) money would transit through the formal financial system, because of all the controls," said Ibrahim Warde, an expert on terrorist financing at The Fletcher School at Tufts University.
Cross-posted to Israel Matzav.
-
INN: Report: Hizbullah Laundered Drug Money in US Banks The Hizbullah terrorist organization is in trouble for laundering hundreds of millions of dollars in drug trafficking revenues in US banks. The Hizbullah terrorist organization is in hot water over...
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There's a reason he refuses to accept repayment of TARP money. From the Wall Street Journal: I must be naive. I really thought the administration would welcome the return of bank bailout money. Some $340 million in TARP cash flowed back this week...
- "we Manage Our Capital In Its Aggregate" - Banks Refuse To Say What They've Done With Bailout Money
"We manage capital in its aggregate." I'll have to remember to use that excuse on my wife when I come back from a weekend of whoring and gambling in Las Vegas. "Listen, baby. I don't know where the money went. I manage my capital in its aggregate."...
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From Mortgage Strategy: A government organisation is looking to educate financial institutions in a bid to help the UK become a global provider of Islamic finance. UK Trade & Investment, which incorporates the work of the Foreign & Commonwealth...
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