A stock broker I know sent me this. Comments? Julie
> >Peter Phillips wrote: 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 [c COPYRIGHT, 2001, Michael C. Ruppert and FTW > >Publications, <http://www.copvcia.com/> http://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 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" 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 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," are contracts giving the buyer the option to sell > >stocks at a later 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 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 $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 Counterterrorism, entitled "Black Tuesday: The World's Largest > >Insider Trading Scam?" documented the following trades connected to the > >September 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 Chicago exchange in the > >days immediately preceding Black Tuesday. > > > >Morgan Stanley Dean Witter & Co., which occupied 22 floors of the > >World Trade Center,saw 2,157 of its October $45 put options bought in > >the three trading days before Black Tuesday; this compares to an > >average of 27 contracts per day before September 6. Morgan Stanley's > >share price fell from $48.90 to $42.50 in the aftermath of the > >attacks. Assuming that 2,000 of these options contracts were bought based > >upon knowledge of the approaching attacks, their purchasers could have > >profited by at least $1.2 million. > > > >Merrill Lynch & Co., which occupied 22 floors of the World Trade > >Center, saw 12,215 October $45 put options bought in the four > >trading days before the attacks; the previous average volume in those > >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 Munich Re, > >Switzerland's Swiss Re, and AXA of France, all major reinsurers with > >exposure to the Black Tuesday disaster. [FTW Note: AXA also owns > >more than 25% of American Airlines stock making the attacks a "double > >whammy" for them.] > > > >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. > > > >"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" optionsoutstanding [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 of > >insider trading activity connected to Munich just before the attacks. > > > >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 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 > >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, which also 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 of 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> > >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. > > > > end > > > > Peter Phillips Ph.D. > > Sociology Department/Project Censored > > Sonoma State University > > 1801 East Cotati Ave. > > Rohnert Park, CA 94928 > > 707-664-2588
