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Saturday, April 07, 2007

Street price of cocaine to increase



Following the principle of supply and demand and its effect on prices, the street price of cocaine should rise, since the U.S. Coast Guard and Navy have grabbed 15 tons of it, as set out here:
Military personnel from the Coast Guard and Navy handed over 30,000 pounds of cocaine with an import value of approximately $400 million to federal agents today at 12 p.m.

The cocaine was offloaded from the USS McInerney (FFG-8) after it was seized in two separate busts in the Eastern Pacific Ocean Feb. 4 and March 1.

The first bust occurred Feb. 4 by the Coast Guard Cutter Hamilton from a go-fast traveling in the Eastern Pacific. The go-fast was stopped by the Jacksonville-based Coast Guard Helicopter Interdiction Tactical Squadron. HITRON's precision gunner shot the engines of the fleeing go-fast until they would no longer run. A law enforcement crew from the Hamilton seized 41 bales of cocaine from the boat and detained five suspected smugglers.

The second bust occurred March 1 when a Coast Guard law enforcement detachment from Tactical Law Enforcement Team South from Miami aboard the McInerney boarded the merchant vessel Ocean Song. The Coast Guard law enforcement team found 457 bales of cocaine in the ship's cargo hold. The Miami based law enforcement team took nine suspected smugglers into custody.

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