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FTW: Profits of Death: CIA Highest Ranks in 9-11 Insider Trading By Michael C. Ruppert 8/12/2001 1:57 am Sat |
http://globalresearch.ca/articles/RUP110A.html
Suppressed Details of Criminal Insider Trading lead
directly into the CIA`s Highest Ranks
CIA Executive Director "Buzzy" Krongard managed Firm that
handled "put" Options on UAL by Michael C. Ruppert FTW Publications, 9 October 2001 Centre for Research on Globalisation,
globalresearch.ca, Although uniformly ignored by the mainstream U.S. media, there is
abundant and clear evidence that a number of transactions in
financial markets indicated specific (criminal) foreknowledge of the
September 11 attacks on the World Trade Center and the Pentagon.
That evidence also demonstrates that, in the case of at least one of
these trades -- which has left a $2.5 million prize unclaimed -- the
firm used to place the "put options" on United Airlines stock was,
until 1998, managed by the man who is now in the number three
Executive Director position at the Central Intelligence Agency. Until
1997 A.B. "Buzzy" Krongard had been Chairman of the investment
bank A.B. Brown. A.B. Brown was acquired by Banker's Trust in
1997. Krongard then became, as part of the merger, Vice Chairman
of Banker's Trust-AB Brown, one of 20 major U.S. banks named by
Senator Carl Levin this year as being connected to money
laundering. Krongard's last position at Banker's Trust (BT) was to
oversee "private client relations." In this capacity he had direct
hands-on relations with some of the wealthiest people in the world
in a kind of specialized banking operation that has been identified
by the U.S. Senate and other investigators as being closely
connected to the laundering of drug money.
Krongard (re?) joined the CIA in 1998 as counsel to CIA Director
George Tenet. He was promoted to CIA Executive Director by
President Bush in March of this year. BT was acquired by Deutsche
Bank in 1999. The combined firm is the single largest bank in
Europe. And, as we shall see, Deutsche Bank played several key
roles in events connected to the September 11 attacks.
The Scope of Known Insider Trading
Before looking further into these relationships it is necessary to look
at the insider trading information that is being ignored by Reuters,
The New York Times and other mass media. It is well documented
that the CIA has long monitored such trades - in real time - as
potential warnings of terrorist attacks and other economic moves
contrary to U.S. interests. Previous stories in FTW have specifically
highlighted the use of Promis software to monitor such trades.
It is necessary to understand only two key financial terms to
understand the significance of these trades. "Selling Short" is the
borrowing of stock, selling it at current market prices, but not being
required to actually produce the stock for some time. If the stock falls
precipitously after the short contract is entered, the seller can then
fulfill the contract by buying the stock after the price has fallen and
complete the contract at the pre-crash price. These contracts often
have a window of as long as four months. "Put Options," purchased
at nominal prices of, for example, $1.00 per share, are sold in blocks
of 100 shares. If exercised, they give the holder the option of selling
selected stocks at a future date at a price set when the contract is
issued. Thus, for an investment of $10,000 it might be possible to tie
up 10,000 shares of United or American Airlines at $100 per share,
and the seller of the option is then obligated to buy them if the option
is executed. If the stock has fallen to $5 when the contract matures,
the holder of the option can purchase the shares for $50 and
immediately sell them for $100 - regardless of where the market then
stands. A "call option" is the reverse of a put option, which is, in effect, a
derivatives bet that the stock price will go up.
A September 21 story by the Israeli Herzliyya International Policy Institute for Counterterrorism, entitled "Black Tuesday: The World's Largest Insider Trading Scam?" documented the following trades connected to the September 11 attacks:
On September 29, 2001 - in a vital story that has gone unnoticed
by the major media - the San Francisco Chronicle reported,
"Investors have yet to collect more than $2.5 million in profits they
made trading options in the stock of United Airlines before the Sept.
11, terrorist attacks, according to a source familiar with the trades
and market data.
"... October series options for UAL Corp. were purchased in highly
unusual volumes three trading days before the terrorist attacks for a
total outlay of $2,070; investors bought the option contracts, each
representing 100 shares, for 90 cents each. [This represents
230,000 shares]. Those options are now selling at more than $12
each. There are still 2,313 so-called "put" options outstanding
[valued at $2.77 million and representing 231,300 shares] according
to the Options Clearinghouse Corp." "...The source familiar with the United trades identified Deutsche
Bank Alex. Brown, the American investment banking arm of German
giant Deutsche Bank, as the investment bank used to purchase at
least some of these options..." CIA, the Banks and the Brokers
Understanding the interrelationships between CIA and the banking
and brokerage world is critical to grasping the already frightening
implications of the above revelations. Let's look at the history of CIA,
Wall Street and the big banks by looking at some of the key players
in CIA's history. Clark Clifford - The National Security Act of 1947
was written by Clark Clifford, a Democratic Party powerhouse,
former Secretary of Defense, and one-time advisor to President
Harry Truman. In the 1980s, as Chairma of First American
Bancshares, Clifford was instrumental in getting the corrupt CIA drug
bank BCCI a license to operate on American shores. His profession:
Wall Street lawyer and banker.
John Foster and Allen Dulles - These two brothers "designed" the
CIA for Clifford. Both were active in intelligence operations during
WW II. Allen Dulles was the U.S. Ambassador to Switzerland where
he met frequently with Nazi leaders and looked after U.S.
investments in Germany. John Foster went on to become Secretary
of State under Dwight Eisenhower and Allen went on to serve as
CIA Director under Eisenhower and was later fired by JFK. Their
professions: partners in the most powerful - to this day - Wall Street
law firm of Sullivan, Cromwell. Bill Casey - Ronald Reagan's CIA Director and OSS veteran who
served as chief wrangler during the Iran-Contra years was, under
President Richard Nixon, Chairman of the Securities and Exchange
Commission. His profession: Wall Street lawyer and stockbroker.
David Doherty - The current Vice President of the New York Stock
Exchange for enforcement is the retired General Counsel of the
Central Intelligence Agency. George Herbert Walker Bush - President from 1989 to January
1993, also served as CIA Director for 13 months from 1976-7. He is
now a paid consultant to the Carlyle Group, the 11th largest defense
contractor in the nation, and which shares joint investments with the
bin Laden family. A.B. "Buzzy" Krongard - The current Executive Director of the
Central Intelligence Agency is the former Chairman of the investment
bank A.B. Brown and former Vice Chairman of Banker's Trust.
John Deutch - This retired CIA Director from the Clinton
Administration currently sits on the board at Citigroup, the nation's
second largest bank, which has been repeatedly and overtly
involved in the documented laundering drug money. This includes
Citigroup's 2001 purchase of a Mexican bank known to launder drug
money, Banamex. Nora Slatkin - This retired CIA Executive Director also sits on
Citibank's board. Maurice "Hank" Greenburg - The CEO of AIG insurance, manager
of the third largest capital investment pool in the world, was floated
as a possible CIA Director in 1995. FTW exposed Greenberg's and
AIG's long connection to CIA drug trafficking and covert operations
in a two-part series that was interrupted just prior to the attacks of
September 11. AIG's stock has bounced back remarkably well since
the attacks. To read that story, please go to
http://www.copvcia.com/stories/part_2.html.
One wonders how much damning evidence is necessary to respond
to what is now irrefutable proof that CIA knew about the attacks and
did not stop them. Whatever our government is doing, whatever the
CIA is doing, it is clearly NOT in the interests of the American
people, especially those who died on September 11.
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