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In the early seventies the CIA had provided to the Shah of Iran a perfect set of printing plates and a printing press that could reproduce US$100 bills. The Shah was also given the ink and banknote quality paper, enabling him to produce perfect counterfeit notes. The Shah later fled and the equipment sat in the mint in Tehran, I believe.
A deal was arranged in the early eighties between VP George Bush, Noriega and the Iranian leadership. A sum of US$8 billion, deposited in the Banco Nacional de Panama on behalf of Escobar was "lent" to Bush. Of this, US$4 billion was taken to Iran where it was exchanged at a ratio of one good bill for two counterfeit bills.
On the return trip, the aircraft, an 707 cargo container carried two shrink-wrapped pallets containing US$4 billion each. The 707 arrived at Howard/Albrook Air Force base in Panama where the pallets were off-loaded under armed guard of the Panamanian military.
The counterfeit notes were re-deposited back into Escobar's account. Under no circumstances could they be permitted to leave the bank vault - for fear of devaluing the US currency with forged notes - and active steps would later be taken to ensure this.
The other half of Escobar's "good" money was placed into the hands of Nana DeBusia, the grandson of Guyana's first democratic leader. DeBusia was chosen by the CIA's William Casey to launder the massive sum into numerous bank accounts under the joint signature of Bush and Casey.
The next leg of the operation was to retrieve the $4 billion exchanged with the Iranians for the other bills. This was facilitated by the supply of military equipment - arms, ammunition and replacement parts for weapons systems. This was arranged by Ollie North on behalf of Casey.
The result of these complex manoeuvres were twofold. On the one hand the CIA acquired $4 billion - via the arms sales - for use in future black operations without the need to rely on Congressional oversight or authority. If later caught, the CIA can report the source of funds as being from an arms transaction with Iran.
Part of these funds were then used to support the Contras, whilst the rest disappeared down the ultra-black hole of CIA covert finances. Meanwhile, DeBusia had begun laundering the remaining $4 billion through various banks, including the Vatican Bank.
For his trouble, DeBusia was entitled to a commission of $200 million. The remaining $3.8 billion was then secreted in private numbered accounts around the globe controlled by Bush and Casey.
The operation was complete apart from some necessary mopping-up, which was to occur. In 1989, Escobar was targeted by an intensive US/Colombian "War on Drugs"
campaign. He flees into hiding, in fear of his life. Eventually, in 1993, he is tracked down and killed in a police shoot-out.
A British TV documentary revealed that Escobar was gunned down while attempting to escape and was probably unarmed. <span style="font-weight: bold">The campaign waged against Escobar ensures he cannot withdraw the $8 billion</span>.
As you know, Noriega was later convicted and placed in federal prison under constant US guard to ensure his silence. DeBusia was indicted on 32 counts including bank fraud and thereby effectively silenced. In 1987, Casey died of a brain tumour - just days before he would have been required to attend the Senate hearings into Iran/Contra.
So, only one figure emerges unscathed: Bush, who retained control of $3.8 billion in laundered funds. Obviously, the CIA still retained control over the balance of their $4 billion share of the "sting" operation.
A deal was arranged in the early eighties between VP George Bush, Noriega and the Iranian leadership. A sum of US$8 billion, deposited in the Banco Nacional de Panama on behalf of Escobar was "lent" to Bush. Of this, US$4 billion was taken to Iran where it was exchanged at a ratio of one good bill for two counterfeit bills.
On the return trip, the aircraft, an 707 cargo container carried two shrink-wrapped pallets containing US$4 billion each. The 707 arrived at Howard/Albrook Air Force base in Panama where the pallets were off-loaded under armed guard of the Panamanian military.
The counterfeit notes were re-deposited back into Escobar's account. Under no circumstances could they be permitted to leave the bank vault - for fear of devaluing the US currency with forged notes - and active steps would later be taken to ensure this.
The other half of Escobar's "good" money was placed into the hands of Nana DeBusia, the grandson of Guyana's first democratic leader. DeBusia was chosen by the CIA's William Casey to launder the massive sum into numerous bank accounts under the joint signature of Bush and Casey.
The next leg of the operation was to retrieve the $4 billion exchanged with the Iranians for the other bills. This was facilitated by the supply of military equipment - arms, ammunition and replacement parts for weapons systems. This was arranged by Ollie North on behalf of Casey.
The result of these complex manoeuvres were twofold. On the one hand the CIA acquired $4 billion - via the arms sales - for use in future black operations without the need to rely on Congressional oversight or authority. If later caught, the CIA can report the source of funds as being from an arms transaction with Iran.
Part of these funds were then used to support the Contras, whilst the rest disappeared down the ultra-black hole of CIA covert finances. Meanwhile, DeBusia had begun laundering the remaining $4 billion through various banks, including the Vatican Bank.
For his trouble, DeBusia was entitled to a commission of $200 million. The remaining $3.8 billion was then secreted in private numbered accounts around the globe controlled by Bush and Casey.
The operation was complete apart from some necessary mopping-up, which was to occur. In 1989, Escobar was targeted by an intensive US/Colombian "War on Drugs"
campaign. He flees into hiding, in fear of his life. Eventually, in 1993, he is tracked down and killed in a police shoot-out. A British TV documentary revealed that Escobar was gunned down while attempting to escape and was probably unarmed. <span style="font-weight: bold">The campaign waged against Escobar ensures he cannot withdraw the $8 billion</span>.
As you know, Noriega was later convicted and placed in federal prison under constant US guard to ensure his silence. DeBusia was indicted on 32 counts including bank fraud and thereby effectively silenced. In 1987, Casey died of a brain tumour - just days before he would have been required to attend the Senate hearings into Iran/Contra.
So, only one figure emerges unscathed: Bush, who retained control of $3.8 billion in laundered funds. Obviously, the CIA still retained control over the balance of their $4 billion share of the "sting" operation.
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