Snow Blizzard

A drug glut slashes prices

Miami is known as the "Casablanca of Coke" with good reason: an estimated 70% of all cocaine imported into the U.S. passes through South Florida. Control over nationwide distribution remains rooted in Miami. But these days the city's drug dealers have got a problem: the avalanche of coke descending on them. Not in recent memory has the powdery white stuff been so plentiful, or so cut-rate.

The wholesale price per kilo has plummeted 50%, from $60,000 in 1981 to $30,000 now. "They've got to move the inventory," says Sergeant Skip Pearson of the Metro-Dade Organized Crime Bureau....

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