In this age of electronic banking the way to shut down any organization is to go after their access to money. It looks like that is just what is currently happening with North Korea at least to an extent.
“We need to step up and target those financial institutions in Asia and beyond that are supporting the brutal and dangerous North Korean regime.”
When challenged by Royce about “a number of small banks” still doing business with North Korea and the need to choke off the country’s access to hard currency, Glaser replied: “That’s exactly what we are trying to do.”
Royce said he hoped a bipartisan bill he sponsored that would label North Korea “a primary money laundering concern” would be passed by the Senate this year….
The country’s main economic ties are with China and, according U.S. government reports, its tiny economy has supported itself with money-making scams ranging from counterfeiting $100 bills to illicit arms and drug sales.
Being a simple guy I just can’t understand how we can give China so much power over our day-to-day lives when they support those who would love to see us annihilated from this earth. I don’t know about you but it seems everything I buy almost anywhere today comes with a “Made in China” tag. It is about time we started putting conditions on transferring our wealth to that country. Millions of good paying jobs have disappeared to be resurrected in mainland China at pennies on the dollar and the primary purpose is to provide more profits for their most often times very rich stockholders..
I know doing something about this problem will be a hard-sell for the Republicans in congress. They simply believe that what our corporations do to make their profits is their own business and the government should stay out of it. And again if Obama comes out for it they will naturally be adamantly against it whatever it is. I think this same thing would be happening no matter who the Democrat was that occupies the Oval Office. Its pure politics and it is getting uglier by the minute. But I am getting off topic here.
How can we allow China to help North Korea with their illegal schemes and not suffer any consequences? Of course part of that reason, maybe the biggest part, is that we are already so deeply dependent on China that we simply can’t afford to confront them. If they for whatever reason decided to stop sending us the products they now make our economy would likely collapse. How did we get into this type of arrangement is of course because of greed. When a bigger profit can be made using Chinese labor at pennies per hour as opposed to dollars per hour for home-grown labor greed will go off-shore every time. But I kind of think that even those who made these decisions to move their production to China are surprised at the speed at which the total transformation occurred. They all seemed to rush there without really considering the consequences. But then again greed has never been much of a forward-looking thing…