Friday, February 13, 2009

Washington: WashingTon of Money

Is That Called Money Laundering?

"Corrupt politicians and lobbyists also launder money by setting up personal non-profits to move money between trusted organizations, so that donations from inappropriate sources may be illegally used for personal gain."

According to Wikipedia Osama bin Laden owns Bahrain International Bank.

"Based in Luxembourg, Clearstream International, a central securities depository and clearing house or "bank of banks" which practices "financial clearing," centralizing debit, and credit operations for hundreds of banks, was accused of being a major operator of the underground economy via a system of un-published accounts; Bahrain International Bank, owned by Osama bin Laden, would have profited from these transfer facilities."

Bahrain International Bank

As of September 11, 2006, the Bahrain International Bank had a total Issued Share Capital of US$2.5 billion and a paid up share capital of US$291 million, as an Islamic investment bank working under Sharia compliant directives.
Prince Khalid bin AlWaleed bin Talal AlSaud as First Vice Chairman.
Dr. Ahmad Al Dosari Chairman of United International Bank in Bahrain.
Ahmed Fuad Nazir
Managing Director, STARC

Managing Director, joined STARC in 2004 as a Ahmed Fuad Nazir, Managpartner after spending over 14 years in investment banking and private equity. He worked previously at the Saudi Arabian Monetary Agency, Saudi International Bank and Bahrain International Bank in New York, London, Riyadh and Bahrain. He has served as a board member on several private and listed companies including a listed company providing services to the oil & gas sectors. He holds a BA (Hons) from Harvard University and an MBA from Columbia University.
Mr. Robin Macalvini or Mr. Robin McIlvenny
Chief Executive Officer of Bahrain International Bank

[I found this man's name spelled two different ways. ]

Clearstream International bank lets you do transactions without using your name.


What is self-collateralization? I'm still not sure even after reading this. Here is part of what I found on their Website.

The Bundesbank takes receipt of the papers while the customer is given the counter value (equivalent) amount (minus a haircut), which is immediately allocated to the customer’s cash position for the night-time processing."

"Since there is no direct functional link between the flagged purchase instruction and the additionally generated self-collateralization delivery instruction the latter can also be processed using existing securities holdings."

Self-collateralization step by step

The underground economy via a system of un-published accounts helps hide big money and illegal activities. To learn more read the following article.

Tracking Terrorist Money -- Too Hot For U.S. to Handle?

Lucy Komisar, Pacific News Service
October 4, 2001

"A controversial European book that might help authorities track terrorist funding sources remains unpublished and relatively unknown in the United States.

Entitled "Revelation$," it exposes a secret banking system that might be used by terrorists. At the center is a clearinghouse in Luxembourg called Clearstream, which transfers money for international banks and major companies.

Written by a former high-ranking Clearstream official and a French journalist, its publication last February by Les Arenes in Paris triggered the firing of Clearstream's top officials, a judicial inquiry in Luxembourg, and invitations to the authors to address members of the European Parliament and the French parliamentary commission on financial crime and money-laundering.

..." To read the rest of the article follow this link... One of the interesting names is Mayor Giuliani.

I have no hard proof that money laundering has taken place. I am following the links within the Websites and the names of people who appear on them. However, Mayor Giuliani found things that we should be aware of. I'm wondering if BO or any of his contributors have used the Clearstream to transfer money. How can we find out?

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