11-12-2010, 06:14 AM
(This post was last modified: 11-12-2010, 06:20 AM by Cheri Seymour.)
RE: SWIFT-CHIPS
Thanks Ed Jewett for posting this outstanding article, written by Tom Burghardt. Wow!
I would like to post some historical background to support Burghardt’s article by excerpting a 1992 conversation with John Cohen, investigator for the House Judiciary Committee on Inslaw. His investigation encompassed a three year probe into the theft of the PROMIS software by the DOJ from Inslaw company, the developer of the software.
This is old news, but should not be overlooked when considering the long evolution of SWIFT-CHIPS. Cohen believed that the PROMIS software was modified and installed into the international banking system to secretly track money laundering of drug profits.
John Cohen speaking below. Taken from PP. 197-198 of The Last Circle book.
EXCERPT:
“ ... when I was in Los Angeles I did a lot of undercover work with Columbians, where I worked international narcotics conspiracies with DEA and FBI and, being a local police officer, I didn’t really get caught up in their systems, I just made some great contacts in these agencies. But I also learned quite a bit about Southeast Asian heroin and the rise of the Medellin Cartels and the other Cartels in Latin America.”
Cohen continued ... “And I also ran into quite a few law enforcement professionals who were pretty irritated because of the intelligence agency, drug dealer connection.”
EXCERPT:
“ --- Now that corroborates some information that I got in the past which talked about one of the reasons PROMIS was stolen. You see, I’ve had a side theory about another reason why PROMIS was taken. And it was that PROMIS could also be modified to track money laundering..”
“... And it could also be used as an active information gathering, or an active moving software program that can go into other data bases. And it could be modified to control hundreds of accounts and move money through the international banking system.”
Cohen added, “What a lot of people don’t realize is that there are two international banking systems. There’s CHIPS and SWIFT. And the word Swift Chips has been spread out throughout this whole [investigation]. And a lot of people don’t realize what that meant. Well, Swift Chips is a referral to those two clearing house systems. The clearing house interbank payment system and then the European counterpart, Swift. And they do $2 billion dollars worth of banking transactions a day.”
“ ... And if one was able to move accounts through there, you could move money invisibly around the world ...”
Thanks Ed Jewett for posting this outstanding article, written by Tom Burghardt. Wow!
I would like to post some historical background to support Burghardt’s article by excerpting a 1992 conversation with John Cohen, investigator for the House Judiciary Committee on Inslaw. His investigation encompassed a three year probe into the theft of the PROMIS software by the DOJ from Inslaw company, the developer of the software.
This is old news, but should not be overlooked when considering the long evolution of SWIFT-CHIPS. Cohen believed that the PROMIS software was modified and installed into the international banking system to secretly track money laundering of drug profits.
John Cohen speaking below. Taken from PP. 197-198 of The Last Circle book.
EXCERPT:
“ ... when I was in Los Angeles I did a lot of undercover work with Columbians, where I worked international narcotics conspiracies with DEA and FBI and, being a local police officer, I didn’t really get caught up in their systems, I just made some great contacts in these agencies. But I also learned quite a bit about Southeast Asian heroin and the rise of the Medellin Cartels and the other Cartels in Latin America.”
Cohen continued ... “And I also ran into quite a few law enforcement professionals who were pretty irritated because of the intelligence agency, drug dealer connection.”
EXCERPT:
“ --- Now that corroborates some information that I got in the past which talked about one of the reasons PROMIS was stolen. You see, I’ve had a side theory about another reason why PROMIS was taken. And it was that PROMIS could also be modified to track money laundering..”
“... And it could also be used as an active information gathering, or an active moving software program that can go into other data bases. And it could be modified to control hundreds of accounts and move money through the international banking system.”
Cohen added, “What a lot of people don’t realize is that there are two international banking systems. There’s CHIPS and SWIFT. And the word Swift Chips has been spread out throughout this whole [investigation]. And a lot of people don’t realize what that meant. Well, Swift Chips is a referral to those two clearing house systems. The clearing house interbank payment system and then the European counterpart, Swift. And they do $2 billion dollars worth of banking transactions a day.”
“ ... And if one was able to move accounts through there, you could move money invisibly around the world ...”