Banco Delta Crackdown

Bloomberg reports the tremendous apprehension and severed ties with North Korea, by the International community (from Daedong then, Germany, and Singapore)... who will no longer partake in banking or business transactions with North Korean Bank..
Under provisions of the USA Patriot Act of 2001, the Treasury Department may prohibit U.S. financial institutions from doing business with banks designated as money-laundering concerns. At a minimum, the act requires U.S. banks to know the customers with whom they do business...

[AP-05; bio-Yahoo]

Back in September, the US Treasury Department said Macau, China- based Banco Delta Asia SARL helped North Korean officials make "surreptitious" deposits and withdrawals. The bank has now responded by freezing all accounts linked to North Korea, blocking access to millions of dollars. Last month, Banco Delta said it would no longer accept business from North Korean customers... and the list around the world goes on...

Although the State Department has assured that this banking response has nothing to do with N. Korean talks re: nuclear program, nor is this a target against any one regime...They do not expect it to get into the way of keeping the talks going, and may actually aid in the conclusion.

The illegalities of the North Korean government being addressed here: Trafficking heroin ( read here) Counterfeiting of $100 bills...And culling cash from illegal trade in weapons…
The danger is real, the concern is high. We hope to keep the talks continuing with this country... Others (below) do, too....
Iran, North Korea review expansion of ties
Tehran, March 5, IRNA
Iran-North Korea-Cooperation
North Korean Ambassador to Tehran Kim Chong Ryong conferred here Sunday with the Head of Majlis National Security and Foreign Policy Commission Alaeddin Boroujerdi on expansion of mutual and international relations.

According to the Public Relations Department of Majlis, at the meeting, Boroujerdi expressed satisfaction with the expansion of ties between the two countries and expressed hope to witness further expansion of political and economic cooperation between the two countries.
Highlighting Iran's peaceful nuclear activities, he said it is about two and half years that the country has adopted a very close, transparent cooperation with the three European countries and the International Atomic Energy Agency (IAEA).

Iran, Libya discuss expansion of bilateral ties
Special envoy of Libyan president, Saad Mejbar and Foreign Minister Manouchehr Mottaki in a meeting here Sunday discussed on the prospect of expansion of mutual ties.

According to a report released by the Foreign Ministry's Media Department, at the meeting, Mottaki referred to the determination of Iranian government to bolster relations with Muslim states and implement the agreements inked with them.

He urged the need to weigh the advantages of using potentials and identifying new grounds for cooperation and introduced them to the tradesmen and owners of industries from both sides.

Turning to collaboration between the two countries in the oil industry as an effective step in expansion of ties, he called for formation of a cooperation group from the countries of equal opinions to respond to one another's demands.

~Basil: Articles of Interest
~Greyhawk mudvillegazette
~Surber's: Best of Thursday

No comments:

Market Currents

Morning Stock Talk

Twitter / investment

Think Liberty... Support Small Businesses

Forbes Market News

European Politics

ECB | Euro foreign exchange reference rates

ECB - European Central Bank

Quick Video News




The DC Video

CNS News

CNS Headlines

I Hate The Media