MONEY LAUNDERING, THE 800 POUND ELEPHANT IN THE ROOM, AT THIS WEEK'S OECS MEETING WITH THE STATE DEPARTMENT IN WASHINGTON

We expect to see sparks fly this week, when Secretary of State Marco Rubio meets with six of the leaders of the Caribbean countries from the organization of Eastern Caribbean States (OECS). while not listed on the agenda, the knotty American problem of money laundering connected to correspondent accounts in the United States receiving Citizenship by investment (CBI/CIP) will most certainly be on the minds of the senior State Department officials conducting the talks. American banks which are servicing the Caribbean have major exposure to prosecution for violation of the Money Laundering Control Act by processing illegal CBI application funds, although they have thus far resisted calls to close accounts which are an economic lifeline for the Caribbean, as 90% of the region's international trade flows through the United States.

What are the specific money laundering issues? Let's quickly survey them.

(1) SAINT KITTS & NEVIS and SAINT LUCIA: the CBI & CIP programs of those countries have processed thousands of illegally-discounted applications, acting in cooperation with Chinese-based CARIBBEAN GALAXY GROUP. Those payments are by definition money laundering.

(2) GRENADA: Another CBI state allowing deeply and illegally, discounted applications, this one in conjunction with yet another dodgy Chinese-controlled consultancy, HENG SHENG GROUP, has also resulted in the Proceeds of Crime to infect the American monetary system.

(3) DOMINICA: A monopoly by a single stakeholder, and of course more illegally-discounted applications has tainted this state's program. Murders connected to a survivalist-oriented CBI stakeholder project have raised serious questions about a total lack of government control over its CBI.

(4) ANTIGUA AND BARBUDA: A groundbreaking §1782 proceeding in the US is about to expose decades of money laundering orchestrated by the country's Prime Minister, GASTON BROWNE, all processed through American financial institutions; Antigua has become ground central for a Chinese-controlled "Hong Kong-style" enclave completely autonomous, including its financial sector.

While there have not been any instances of De-Risking resulting in any East Caribbean state losing all its US correspondent banks, such an event could occur, with disastrous economic, social and political consequences for the region. Will these EC states continue to allow their CBI programs to endanger their correspondent banking, and risk catastrophic De-Risking, and what will Secretary Rubio do about it?