U.S. Treasury Secretary Henry Paulson speaking in Beijing and Singapore last week, warned the world financial leaders that Iran abuses the global financial system to fund its Jihad against the West, to develop weapons of mass destruction (WMD), and fund terrorism worldwide. “Iran is abusing the financial system," said Paulson. However, the Treasury Secretary refrained from providing any details.
Paulson declared: "You can't have a secure financial system, you can't preserve the reputation of a financial system if you let people come in and abuse it, and abuse it for illegal activities of any kind -- WMD proliferation, Terrorism."
A few examples of such Iranian abuses could help the world financial leaders to initiate the necessary steps to prevent and stop such abuses. One can only hope the U.S. is providing these details. Indeed, to garner support and action, it’s time to make some of the details public. This will also help to alert many concerned bankers to the insidious danger of their own banking systems. Moreover, evidence of Iran’s abuse of the global financial system, could also lead to move towards a global --at least Western—ban of all Iranian financial institutions.
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