7. Taking a look at the possible benefactors and those possibly responsible
What about the CIA? - they have a supreme role to protect the u.s., why are they exempt from most of the governing processes that WE offer THEM.
Did you hear about insider stock market trading? --
The CIA’s Wall Street connections
-- ONLINE JOURNAL™
The CIA’s Wall Street connections
Transcript of interview with Michael C. Ruppert on Guns and Butter: The Economy Watch, with Kellia Ramares and Bonnie Faulkner - Aired on KPFA 94.1 FM, Berkeley, CA - Friday, October 12, 2001 - FAULKNER:
- On September 29, The San Francisco Chronicle reported that investors had 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. The uncollected money raises suspicions that the unidentified investors had advance knowledge of the attacks. The securities and exchange commission is investigating high levels of short sales and purchases of "put" options, on the stocks of United Airlines and American Airlines in the three business days before the attacks. Short sales and put options are bets that a stock will fall in price.
Meanwhile, the Interdisciplinary Center, a counter-terrorism think tank headed by former Israeli intelligence officers, has issued a report on Osama bin Laden’s finances, saying insiders profited by nearly $16 million dollars on transactions involving the two airlines and the investment banking firm Morgan Stanley, which occupied 22 floors of the World Trade Center. And that report excluded other unusual trading activity involving insurance companies with significant exposure to damage claims resulting from the attacks.
Joining us by phone from Southern California is Michael C. Ruppert. Ruppert is a former Los Angeles Police Department field officer and narcotics investigator whom the CIA twice tried to recruit.
In the course of investigations in the mid 1970s, he came across information the CIA was trading drugs in order to fund covert operations. He was forced out of the LAPD in November 1978 after being shot at and threatened for speaking out about CIA drug activity.
At a Town Hall meeting on November 15, 1996, Ruppert publicly confronted then-CIA director John Deutsch with information about three specific CIA drug operations. The confrontation led to an invitation to appear before the Senate Select Committee on Intelligence, where he spoke and presented written evidence concerning the CIA’s infiltration of and illegal relationships with a number of police departments throughout the country.
Michael Ruppert publishes "From The Wilderness," a magazine which deals with the effects of illegal covert operations on our society.
He’s here today to discuss his latest article for that magazine...about the CIA’s knowledge of, and connections to, the suspect trading that occurred in the days prior to the attacks on the World Trade Center and the Pentagon.
Michael Ruppert, welcome to "Guns and Butter: The Economy Watch."
RUPPERT: Good to be here.
FAULKNER: Good to have you. Do you think the CIA had advance knowledge of the attacks? Did they know a specific attack was coming?
RUPPERT: I am absolutely convinced that the Central Intelligence Agency had complete and perfect foreknowledge of the attacks, down to date, time place and location, yes.
FAULKNER: Tell us how the CIA monitors the stock market.
RUPPERT: Well, I have written several stories about this over the years. One of the primary functions of the Central Intelligence Agency by virtue of its long and very close history of relationships with Wall Street, I mean to the point where the current executive vice president of the New York Stock Exchange is a retired CIA general counsel, has had a mandate to track, monitor, all financial markets worldwide, to look for anomalous trades, indicative of either economic warfare, or insider currency trading or speculation which might affect the US Treasury, or , as in the case of the September 11 attacks, to look for trades which indicated foreknowledge of attacks like we saw.
One of the vehicles that they use to do this is a software called Promis software, which was developed in the 1980s, actually 1979, by Bill Hamilton and a firm called INSLAW, in [the] Washington D.C. area. And Promis is very unique for two reasons: first of all, it had the ability to integrate a wide range of databases using different computer languages and to make them all into one readable format. And secondly, in the years since, Promis has been mated with artificial intelligence to even predict moves in markets and to detect trades that are anomalous, as a result of those projections. So, as recently as last year, I met with members of the RCMP [Royal Canadian Mounted Police] national security staff, who came down to Los Angeles where I am, who are investigating stolen applications of Promis software and its applications, and we reconfirmed at that time that, not only the US, but Israel, Canada, and many other countries use Promis-like software to track real-time trades in the stock markets to warn them of these events.
RAMARES: Kellia Ramares here. Mike, is it possible that the terrorists could have gotten hold of this software?
RUPPERT: Uh, no, it’s, well, it is and it isn’t. The key piece of evidence around September 11 is not that the software would have had any impact. The key evidence, as I heard you describing, was the trades themselves, the so-called put options and the short selling of American Airlines, United Airlines, Merrill Lynch, Morgan Stanley, and a couple of reinsurance companies in Europe, which are just really off the maps. You wouldn’t need software to look at these trades and say, "Oh my God, this is directly connected to World Trade Center."
RAMARES: OK, but hindsight is 20-20. United Airlines had a lot of trouble last year: labor disputes, lots of cancellations. We were on a verge of a recession going into the attacks and Morgan Stanley’s an investment banking firm. Some day traders could have seen some activity and joined the party entirely innocently. How can you make a prediction of an attack?
RUPPERT: Herzliyah, International Policy Institute in Israel which tracks counter-terrorism, also tracks financial trading. That’s a clear cut sign about how closely the two are related. And their reports are very clear that between September 6 and 7 the Chicago Board Options Exchange, CBOE, saw purchases of 4,744 put options on UAL, but only 396 call options. On September 10, the day before the attacks, 4,516 put options were placed on American Airlines, against only 748 calls, calls being bets that the stock will go up, puts being that the stock will go down. No similar trading in any other airlines occurred on the Chicago Exchange in the days immediately preceding Black Tuesday. That means that someone had advance knowledge that only the stocks of these two airlines would be adversely impacted. Had it just been an industry-wide slump, then you would have seen the same kind of activity on every airline, not just these two. But what is also very anomalous, very out of whack here, is the fact that the number of put options placed, that the level of these trades was up by 1,200 percent in the three days prior to the World Trade Center attacks.
RAMARES: Give us a brief overview, really, of the connections between the CIA and the banking and investment community. Your article suggests there is a revolving door between Wall Street and the CIA.
RUPPERT: Oh, indeed there is. First of all, it’s very important to note right up front that European investigators, who are tracking trades in the insurance companies, as well as the Israeli institute, have disclosed that the UAL put options were primarily held by Deutsche Bank-A.B. Brown. And its very important to note that the current Number Three at CIA, the Executive Director, a man by the name of A.B. "Buzzy" Krongard, was, until 1998, the chairman of A.B. Brown. The company went from being owned by Banker’s Trust to being owned by Deutsche Bank. But this is a man effectively running CIA, who came from the bank that handled the trades.
Historically speaking, we go back to 1947, we look at Clark Clifford, who wrote the National Security Act, in 1947. He was a Wall Street banker, and a lawyer from Wall Street. He was the chairman of First American Bancshares that brought BCCI onto US shores in the late 1980s. He was given the design for the CIA by John Foster and Allen Dulles, two brothers: John Foster becoming Secretary of State, Allen becoming director of Central Intelligence, who was fired by John Kennedy. They were partners in what is until this day the most powerful law firm on Wall Street: Sullivan Cromwell. Bill Casey, the legendary CIA director from the Reagan/Iran Contra years, had been chairman of the Securities and Exchange commission under Ronald Reagan. He, in fact, was a Wall Street lawyer and a stockbroker. I’ve already mentioned Dave Doherty, the Vice President of NYSE [New York Stock Exchange] who is the retired CIA general counsel. George Herbert Walker Bush is now a paid consultant to the Carlyle Group, the 11th largest defense contractor in the nation, very influential on Wall Street. "Buzzy" Krongard is there. John Deutsch, the former CIA director, who retired a couple of years ago, a few years ago, is
now on the board of Citibanc or Citigroup. And his number three, Nora Slatkin, the Executive Director at CIA is also at Citigroup. And Maurice "Hank" Greenburg, who is the chairman of AIG insurance, which is the third largest investment pool of capital in the world, was up to be the CIA director in 1995 and Bill Clinton declined to nominate him. So there is an inextricable and unavoidable relationship between CIA and Wall Street.
FAULKNER: Michael Ruppert, this is Bonnie Faulkner. Does the CIA itself invest in the stock market?
RUPPERT: That’s unknown. What is known, and what was disclosed by hearings chaired by Senator Frank Church in 1976, is that the CIA was known and proven in the Congressional Record to operate proprietary companies, some of which do trade their stock on Wall Street. One of these, Southern Air Transport, excuse me, was at it during the Iran Contra years. There are others: Evergreen Air, which may or may not be a proprietary, but has strong CIA connections; there are tons of these companies out there. It’s not known if CIA manipulates markets, although I really believe that they do.
FAULKNER: Is the CIA’s budget public knowledge?
RUPPERT: No. By law. Under the National Security Act of 1947 the CIA’s budget is hidden in the budgets of all the other departments of government. We’ve never been able to pin down, because it’s a secret, exactly how much money CIA gets. But the best estimates available—and these are from very good sources—are that it’s around 30 billion dollars a year.
FAULKNER: So I’m assuming then that no one knows where they keep their budget. I mean, do they keep it in the bank drawing interest? I guess we don’t know.
RUPPERT: Well, no, the way it would work under the NSA—National Security Act—is that if the budget is $30 billion , $10 billion may be in the Department of Defense, five in the Department of Justice, three in US Treasury. That’s how they hide the funds.
RAMARES: Michael, Kellia Ramares again. You’ve laid out a scenario which would suggest that the CIA is so involved in Wall Street, they knew these trades were happening; they knew why. Why would the CIA let such a horrendous thing happen if they knew about it? All the loss of life, all the economic damage that we led off our show with that’s going to happen to everyday people, state and local governments, small investors, businesses. Why did they let it happen if they knew?
RUPPERT: Well, first of all, let’s look at history. I’m a great addict of the History Channel and all this year on "The Secrets of World War II," one of their series, they have run maybe three, four, five times, a documentary showing clearly that Franklin Roosevelt had absolute knowledge that the Japanese were going to attack Pearl Harbor on December the seventh. Navy had broken the codes. That information was made Top Secret. And Roosevelt allowed the attacks to happen with the express purpose of bringing the US into World War II. So there is historical precedent for this. What I have been writing in "From the Wilderness" for more than two years, and we’ve
been publishing four years now, was of huge economic inconsistencies, bubbles that were about to burst, about a pending collapse of the US economy that was going to happen anyway.
Just two days before the attacks, I sent a bulletin to my subscribers saying there’s a monstrous derivatives bubble, to the tune of about 20 trillion dollars that’s about to burst. The price of gold has been manipulated, and the stock market’s ready to crash. And in fact, we had seen the Dow drop by almost 900 points in the three weeks prior to the attack. So, in point of fact, the economic crash was going to happen anyway. As a result of the attacks, now there are two benefits for the government: Number One, there is a convenient enemy upon whom to place the blame for the economic crash. And second, the legislation passed by Congress has unleashed a torrent of short term, and what are going to be extremely expensive, solutions which are keeping the US economic bubble inflated. This incentive: now it’s about 100 billion dollars so far I believe, between 40 for the military and another 60 in tax cuts, is robbing Peter to pay Paul. And I am absolutely convinced that Social Security is toast and this was their way to get their foot in the door on that. ------
CIA and Deutsche Bank linked to insider trading!!
Downloaded on Oct. 13, 2001
"As reported in other news stories, Deutsche Bank was also the hub of insider trading activity connected to Munich Re. just before the attacks."
SUPPRESSED DETAILS OF CRIMINAL INSIDER TRADING LEAD DIRECTLY INTO THE CIA’s HIGHEST RANKSCIA EXECUTIVE DIRECTOR "BUZZY" KRONGARD MANAGED FIRM THAT HANDLED "PUT" OPTIONS ON UAL.by Michael C. Ruppert[© COPYRIGHT, 2001, Michael C. Ruppert and FTW Publications,www.copvcia.com. All Rights Reserved. – May be reprinted or distributed for non-profit purposes only.] FTW, October 9, 2001 – 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. 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 GeorgeTenet. He was promoted to CIA Executive Director by President Bush inMarch of this year. BT was acquired by Deutsche Bank in 1999. Thecombined firm is the single largest bank in Europe. And, as we shall see,Deutsche Bank played several key roles in events connected to theSeptember 11 attacks.THE SCOPE OF KNOWN INSIDER TRADINGBefore looking further into these relationships it is necessary to look at then 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" and "put options". "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 thestock 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," are contracts giving the buyer the option to sell stocks at alater date. Purchased at nominal prices of, for example, $1.00 per share,they are sold in blocks of 100 shares. If exercised, they give the holder theoption of selling selected stocks at a future date at a price set when thecontract 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 $50 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 Counter terrorism, entitled "Black Tuesday: The World’s Largest Insider Trading Scam?" documented the following trades connected to theSeptember 11 attacks: -
Between September 6 and 7, the Chicago Board Options Exchange saw purchases of 4,744 put options on United Airlines,but only 396 call options… Assuming that 4,000 of the options were bought by people with advance knowledge of the imminent attacks, these "insiders" would have profited by almost $5 million.
- On September 10, 4,516 put options on American Airlines were bought on the Chicago exchange, compared to only 748 calls. Again, there was no news at that point to justify this imbalance;… Again, assuming that 4,000 of these options trades represent "insiders," they would represent a gain of about $4 million. - [The levels of put options purchased above were more than six times higher than normal.]
- No similar trading in other airlines occurred on the Chicagoexchange in the days immediately preceding Black Tuesday.
- Morgan Stanley Dean Witter & Co., which occupied 22 floors ofthe World Trade Center, saw 2,157 of its October $45 put optionsbought in the three trading days before Black Tuesday; thiscompares to an average of 27 contracts per day before September6. Morgan Stanley’s share price fell from $48.90 to $42.50 in theaftermath of the attacks. Assuming that 2,000 of these optionscontracts were bought based upon knowledge of the approachingattacks, their purchasers could have profited by at least $1.2million.
- Merrill Lynch & Co., which occupied 22 floors of the World TradeCenter, saw 12,215 October $45 put options bought in the fourtrading days before the attacks; the previous average volume inthose shares had been 252 contracts per day [a 1200% increase!].When trading resumed, Merrill’s shares fell from $46.88 to $41.50;assuming that 11,000 option contracts were bought by "insiders,"their profit would have been about $5.5 million.
- European regulators are examining trades in Germany’s MunichRe, Switzerland’s Swiss Re, and AXA of France, all majorreinsurers with exposure to the Black Tuesday disaster. [FTWNote: AXA also owns more than 25% of American Airlines stockmaking the attacks a "double whammy" for them.]
On September 29, 2001 – in a vital story that has gone unnoticed by themajor 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."The uncollected money raises suspicions that the investors – whose identities and nationalities have not been made public – had advance knowledge of the strikes." They don’t dare show up now. The suspension of trading for four days after the attacks made it impossible to cash-out quickly and claim the prize before investigators started looking."… 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…" This was the operation managed by Krongard until as recently as 1998."
As reported in other news stories, Deutsche Bank was also the hub ofinsider trading activity connected to Munich Re. just before the attacks.CIA, THE BANKS AND THE BROKERSUnderstanding the interrelationships between CIA and the banking andbrokerage 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 ClarkClifford, a Democratic Party powerhouse, former Secretary of Defense, and one-time advisor to President Harry Truman. In the 1980s, as Chairman 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 forClifford. Both were active in intelligence operations during WW II. AllenDulles 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 paidconsultant to the Carlyle Group, the 11th largest defense contractor in thenation, which also shares joint investments with the bin Laden family.A.B. "Buzzy" Krongard – The current Executive Director of the CentralIntelligence 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 Administrationcurrently sits on the board at Citigroup, the nation’s second largest bank,which has been repeatedly and overtly involved in the documentedlaundering of drug money. This includes Citigroup’s 2001 purchase of aMexican bank known to launder drug money, Banamex.Nora Slatkin – This retired CIA Executive Director also sits on Citibank’sboard.Maurice "Hank" Greenburg – The CEO of AIG insurance, manager of thethird largest capital investment pool in the world, was floated as a possibleCIA 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.
HOW WHOEVER DID IT DID IT!
Jeff King MIT Engineer on 911 Part 1, 2 , and 3 -
- As Mr. King points out, there were clear signs of squibs, a form of expulsion produced from demolitions in controlled demolitions. ***13 ****For those that believe the so called squibs were actually puffs of debris expanding outside the building due to intense pressures... let's look at the physics of a squib free fall, versus a debris freefall, all will be assumed and carried out using mathematics and physics on my behalf, since, you should note, there are no other high rise builddings in history that have collapsed inwardly. So figuring this out is going to be theoretical embarrassing at worst. Absolutely damning at best.
--- He points out that when the buildiing collapses, if you look at the tops of the clouds of exploding smoke and powder, there are actually puffs that grow...not collapse along with the building, they puff outwardly.
--- Why was the physical evidence destroyed illegally. placed into a landfill and sold to separate countries to recycle.
--- Fact: over 600,000 was spent to investigate 9/11 collapse, --- over 6,000,000 spent to investigate Clinton.
--- They claim that the steel melted by kerosene from plane.. yet, fema admitted that the kerosene would've burned off fairly quickly. if you add that to the fact that all the materials in the building had to meet fire standards and been fireproofed, that eliminates the majority of the actual food for any fire, let alone one capable of burning through steel
---- I'm sure you noticed the black smoke, blakc smoke means that there is inneficient fuel for the fire and is oxygen inneficient. to burn the temp needed to melt through steel, the fire would burn bright gray, to white
---- Aaron Swarsky, the architect designed the company to be hermitcally sealed, meaning, there were redundancies to prevent fire from actually escaping throughout building. and it worked
Unusual evacuations and power downs in the wtc prior to 9/11
- The 9/11 commmisssion doesn't tell you that marvin bush , the presidents brother and their cousin were the principles of the company that was in charge of the security for the wtc. big coincidence. they dont tell you that there were many reports of ppl who worked in the building that tell you that the building was closed for 3 days where engineers were coming in and out. shut down order.
--- Getting the bombs in unnoticed? - ben fountain , a 42 year old financial analyst who worked on the 47the floor of the south tower told "people magazine" , "how could they let this happen? they knew this building was a target. over the past few weeks we'd been evacuated a number of times, which is unusual. I think they had an inkling something was going on. "
--- Another employee Scott Forbes, working for fiduciary trust in the south tower has also reported one of these evacuations . he testified that on the weekend prior to 9/11 , the upper half of the south tower was powered down. while crews of engineers worked unobserved by the security systems , which were knocked offline by the "power down" , there's actual radio footage or exerpts from a radio interview scott forbes gave to deadline live, a radio show detailing his account. ---" based on 97th floor where data center was. 3 weeks prior, his company and many otheres were given notice there would be power down in 57 % of floors. this would be unprecedented in history especially for a financial companies. relatively short time and notice given and this sort of thing had never happened, apart from the bomb in the early 90's. (only after he saw the engineers, he noticed later the suspicions. he became suspicious after getting in touch with port authority and etc, only to be shunned and unacknowledged. its as if this information is not interesting to them). he was lucky to have day off, but he was in his apt, able to see the towers , so he saw it and as soon as he saw it go down, he was suspicious. it didnt look like any collapse, it was complete demolition.
--- THE PENTAGON - U.S. Army General Says Flight 77 Did Not Hit Pentagon - Major General Albert Stubblebine, in charge of imagery interpretation for scientific and technicall intelligence during the cold war. he measured peices of soviet equipemnt from photo's, it was his job. he looks at the hole int he pentagon and looks at the size of a plane that supposedly hit it and he deduces, a plane did not fit into that hole. he wants to know what's going on.