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One of the most successful documentaries in the history of film is "cocaine cowboys" that tells that story. the film made by these guys, alfred spellman and billy corbin. >>anthony: so things were in decline. cocaine sort of saved the city? >>alfred: we'd say so. am i going to get in trouble for it? yes. >> billy: by 1981, you had a murder rate. you had 635 homicides here. 25% of those bodies had automatic weapons bullets. >> anthony: right. >> anthony: we talk about the uncomfortable reality of where a lot of modern miami came from over something you just have to hit hard when in miami in sea...

City in america. the drug industry brought in an estimated $7 to $12 billion a year and that's of 1981 money. that is a lot of trickle down. one of the most successful documentaries in the history of film is "cocaine cowboys" that tells that story. the film made by these guys, alfred spellman and billy corbin. >>anthony: so things were in decline. cocaine sort of saved the city? >>alfred: we'd say so. am i going to get in trouble for it? yes. >> billy: by 1981, you had a murder rate. 25% of those bodies had automatic weapons bullets. >> anthony: right. >> anthony: we talk about the uncomfortab...

>> alfred: federal reserve branch in miami had a $5 billion cash surplus. mostly 50s and 100 dollar bills all of which had trace elements of cocaine on them. >> billy: and the guys who were in cocaine trafficking in the 70s and 80s got out and are now big medicare fraudsters. >> alfred: we're whispering because they're probably here. >> anthony: so where's the money now? how's business in general in miami and where is that business coming from? >> billy: oh remarkably, the rebound from the great recession, the people thought it would take almost a decade for all the condo inventory to get abso...

So, who is buying? wealthy foreigners. a lot of flight capital from overseas in latin america, south america, russians. >> anthony: russians? if it is money looted from another country, do we care? trickle down boys, trickle down. >> billy: it has propped up miami once again with another inflated bubble, and the question is how long will it last? ♪ >> anthony: there's history and there's the more immediate needs of the present. i need food presently and perhaps some fine bourbon, and when i need good food in a city not my own, more and more these days i call somebody who if they weren't good...

In miami in season. stone crabs. ♪ >> alfred: federal reserve branch in miami had a $5 billion cash surplus. mostly 50s and 100 dollar bills all of which had trace elements of cocaine on them. >> billy: and the guys who were in cocaine trafficking in the '70s and '80s got out and are now big medicare fraudsters. >> alfred: we're whispering because they're probably here. >> anthony: so where's the money now? how's business in general in miami and where is that business coming from? >> billy: oh remarkably, the rebound from the great recession, the people thought it would take almost a decade ...