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<DIV><FONT face=Arial size=2>A stock broker I know sent me this.
Comments?<BR><BR>Julie<BR><BR>> >Peter Phillips wrote: SUPPRESSED DETAILS
OF CRIMINAL INSIDER TRADING<BR>> >LEAD DIRECTLY INTO THE CIA's HIGHEST
RANKS CIA EXECUTIVE DIRECTOR<BR>> >"BUZZY" KRONGARD MANAGED FIRM THAT
HANDLED "PUT" OPTIONS ON UAL<BR>> ><BR>> >by Michael C.
Ruppert [c COPYRIGHT, 2001, Michael C. Ruppert and FTW<BR>>
>Publications, <<A
href="http://www.copvcia.com/">http://www.copvcia.com/</A>> <A
href="http://www.copvcia.com/">http://www.copvcia.com/</A> All
Rights Reserved. - May be<BR>> >reprinted or distributed for
non-profit purposes only.]<BR>> ><BR>> >FTW, October 9, 2001 -
Although uniformly ignored by the mainstream<BR>> >U.S. media, there
is abundant and clear evidence that a number of<BR>> >transactions in
financial markets indicated specific (criminal)<BR>> >foreknowledge of
the September 11 attacks on the World Trade Center and the
Pentagon.<BR>> ><BR>> >In the case of at least one of these
trades -- which has left a $2.5<BR>> >million prize unclaimed -- the firm
used to place the "put options"<BR>> >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.<BR>>
><BR>> >Until 1997 A.B. "Buzzy" Krongard had been Chairman of the
investment<BR>> >bank A.B. Brown. A.B. Brown was acquired by Banker's
Trust in 1997.<BR>> >Krongard then became, as part of the merger,
Vice Chairman of<BR>> >Banker's Trust-AB Brown, one of 20 major U.S. banks
named by Senator<BR>> >Carl Levin this year as being connected to
money laundering.<BR>> >Krongard's last position at Banker's Trust
(BT) was to oversee<BR>> >"private client relations."<BR>> ><BR>>
>In this capacity he had direct hands-on relations with some of the<BR>>
>wealthiest people in the world in a kind of specialized
banking<BR>> >operation that has been identified by the U.S. Senate and
other<BR>> >investigators as being closely connected to the laundering of
drug<BR>> >money. Krongard (re?) joined the CIA in 1998 as counsel to
CIA<BR>> >Director George Tenet. He was promoted to CIA Executive
Director by President Bush in March of this year.<BR>> ><BR>>
>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.<BR>> ><BR>> >THE SCOPE OF KNOWN INSIDER
TRADING<BR>> ><BR>> >Before looking further into these relationships
it is necessary to<BR>> >look at the insider trading information that is
being ignored by<BR>> >Reuters, The New York Times and other mass
media.<BR>> ><BR>> >It is well documented that the CIA has long
monitored such trades -<BR>> >in real time - as potential warnings of
terrorist attacks and other<BR>> >economic moves contrary to U.S.
interests. Previous stories in FTW<BR>> >have specifically
highlighted the use of Promis software to monitor such
trades.<BR>> ><BR>> >It is necessary to understand only two key
financial terms to<BR>> >understand the significance of these trades,
"selling short" and "put options". "Selling Short" is the borrowing of
stock, selling it at<BR>> >current market prices, but not being
required to actually produce<BR>> >the stock for some time.<BR>>
><BR>> >If the stock falls precipitously after the short contract is
entered,<BR>> >the seller can then fulfill the contract by buying
the stock after<BR>> >the price has fallen and complete the contract
at the pre-crash<BR>> >price. These contracts often have a window of
as long as four<BR>> >months.<BR>> ><BR>> >"Put Options," are
contracts giving the buyer the option to sell<BR>> >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.<BR>> ><BR>> >Thus, for an investment of
$10,000 it might be possible to tie up<BR>> >10,000 shares of United or
American Airlines at $100 per share, and<BR>> >the seller of the
option is then obligated to buy them if the option<BR>> >is executed. If
the stock has fallen to $50 when the contract<BR>> >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.<BR>> ><BR>>
>A call option is the reverse of a put option, which is,in effect, a<BR>>
>derivatives bet that the stock price will go up.<BR>> ><BR>> >A
September 21 story by the Israeli Herzliyya International Policy<BR>>
>Institute for Counterterrorism, entitled "Black Tuesday: The
World's Largest Insider Trading Scam?" documented the following
trades connected to the September 11 attacks:<BR>> ><BR>>
>Between September 6 and 7, the Chicago Board Options Exchange saw<BR>>
>purchases of 4,744 put options on United Airlines, but only 396 call<BR>>
>options - - Assuming that 4,000 of the options were bought
by<BR>> >people with advance knowledge of the imminent attacks,
these<BR>> >"insiders" would have profited by almost $5 million.<BR>>
><BR>> >On September 10, 4,516 put options on American Airlines were
bought<BR>> >on the Chicago exchange, compared to only 748 calls. Again,
there was<BR>> >no news at that point to justify this imbalance - -
Again, assuming<BR>> >that 4,000 of these options trades represent
"insiders," they would<BR>> >represent a gain of about $4
million.<BR>> ><BR>> >[The levels of put options purchased above
were more than six times higher than normal.]<BR>> ><BR>> >No
similar trading in other airlines occurred on the Chicago exchange in the
days immediately preceding Black Tuesday.<BR>> ><BR>> >Morgan
Stanley Dean Witter & Co., which occupied 22 floors of the<BR>> >World
Trade Center,saw 2,157 of its October $45 put options bought in<BR>> >the
three trading days before Black Tuesday; this compares to an<BR>> >average
of 27 contracts per day before September 6. Morgan Stanley's<BR>>
>share price fell from $48.90 to $42.50 in the aftermath of the<BR>>
>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.<BR>>
><BR>> >Merrill Lynch & Co., which occupied 22 floors of the World
Trade<BR>> >Center, saw 12,215 October $45 put options bought in the
four<BR>> >trading days before the attacks; the previous average volume in
those<BR>> >shares had been 252 contracts per day [a 1200%
increase!].<BR>> ><BR>> >When trading resumed, Merrill's shares fell
from $46.88 to $41.50;<BR>> >assuming that 11,000 option contracts were
bought by "insiders,"<BR>> >their profit would have been about $5.5
million.<BR>> ><BR>> >European regulators are examining trades in
Germany's Munich Re,<BR>> >Switzerland's Swiss Re, and AXA of France, all
major reinsurers with<BR>> >exposure to the Black Tuesday disaster.
[FTW Note: AXA also owns<BR>> >more than 25% of American Airlines stock
making the attacks a "double<BR>> >whammy" for them.]<BR>> ><BR>>
>On September 29, 2001 - in a vital story that has gone unnoticed by<BR>>
>the major media - the San Francisco Chronicle reported, "Investors<BR>>
>have yet to collect more than $2.5 million in profits they made<BR>>
>trading options in the stock of United Airlines before the Sept. 11,<BR>>
>terrorist attacks, according to a source familiar with the trades
and<BR>> >market data.<BR>> ><BR>> >"The uncollected money
raises suspicions that the investors - whose<BR>> >identities and
nationalities have not been made public - had advance<BR>> >knowledge of
the strikes."<BR>> ><BR>> >They don't dare show up now.<BR>>
><BR>> >The suspension of trading for four days after the attacks made
it<BR>> >impossible to cash-out quickly and claim the prize before<BR>>
>investigators started looking.<BR>> ><BR>> >"October series
options for UAL Corp. were purchased in highly<BR>> >unusual volumes three
trading days before the terrorist attacks for a<BR>> >total outlay of
$2,070; investors bought the option contracts, each<BR>> >representing 100
shares, for 90 cents each. [This represents 230,000<BR>> >shares]. Those
options are now selling at more than $12 each. There<BR>> >are still
2,313 so-called "put" optionsoutstanding [valued at $2.77<BR>> >million
and representing 231,300 shares] according to the Options<BR>>
>Clearinghouse Corp."<BR>> ><BR>> >"The source familiar with the
United trades identified Deutsche Bank<BR>> >Alex. Brown, the American
investment banking arm of German giant<BR>> >Deutsche Bank, as the
investment bank used to purchase at least some<BR>> >of these options."
This was the operation managed by Krongard until<BR>> >as recently as
1998.<BR>> ><BR>> >As reported in other news stories, Deutsche Bank
was also the hub of<BR>> >insider trading activity connected to Munich
just before the attacks.<BR>> ><BR>> >CIA, THE BANKS AND THE
BROKERS<BR>> ><BR>> >Understanding the interrelationships between
CIA and the banking and<BR>> >brokerage world is critical to grasping the
already frightening<BR>> >implications of the above revelations.<BR>>
><BR>> >Let's look at the history of CIA, Wall Street and
the<BR>> >big banks by looking at some of the key players in CIA's
history.<BR>> ><BR>> >Clark Clifford - The National Security
Act of 1947 was written by<BR>> >Clark Clifford, a Democratic Party
powerhouse, former Secretary<BR>> >of Defense, and one-time advisor
to President Harry Truman. In the<BR>> >1980s, as Chairman of First
American Bancshares, Clifford was<BR>> >instrumental in getting the
corrupt CIA drug bank BCCI a license to<BR>> >operate on American shores.
His profession: Wall Street lawyer and<BR>> >banker.<BR>> ><BR>>
>John Foster and Allen Dulles - These two brothers "designed" the
CIA<BR>> >for Clifford. Both were active in intelligence operations during
WW<BR>> >II. Allen Dulles was the U.S. Ambassador to Switzerland where he
met<BR>> >frequently with Nazi leaders and looked after U.S. investments
in<BR>> >Germany. John Foster went on to become Secretary of State
under<BR>> >Dwight Eisenhower and Allen went on to serve as CIA Director
under<BR>> >Eisenhower and was later fired by JFK. Their professions:
partners in<BR>> >the most powerful - to this day - Wall Street law firm
of Sullivan,<BR>> >Cromwell.<BR>> ><BR>> >Bill Casey - Ronald
Reagan's CIA Director and OSS veteran who<BR>> >served as chief
wrangler during the Iran-Contra years was, under<BR>> >President Richard
Nixon, Chairman of the Securities and Exchange<BR>> >Commission. His
profession: Wall Street lawyer and stockbroker.<BR>> ><BR>> >David
Doherty - The current Vice President of the New York Stock<BR>> >Exchange
for enforcement is the retired General Counsel of the<BR>> >Central
Intelligence Agency.<BR>> ><BR>> >George Herbert Walker Bush -
President from 1989 to January 1993,<BR>> >also served as CIA Director for
13 months from 1976-7. He is now a<BR>> >paid consultant to the Carlyle
Group, the 11th largest defense<BR>> >contractor in the nation, which also
shares joint investments with<BR>> >the bin Laden family.<BR>>
><BR>> >A.B. "Buzzy" Krongard - The current Executive Director of the
Central<BR>> >Intelligence Agency is the former Chairman of the investment
bank<BR>> >A.B. Brown and former Vice Chairman of Banker's Trust.<BR>>
><BR>> >John Deutch - This retired CIA Director from the
Clinton<BR>> >Administration currently sits on the board at Citigroup,
the<BR>> >nation's second largest bank, which has been repeatedly and
overtly<BR>> >involved in the documented laundering of drug money. This
includes<BR>> >Citigroup's 2001 purchase of a Mexican bank known to
launder drug<BR>> >money, Banamex.<BR>> ><BR>> >Nora Slatkin -
This retired CIA Executive Director also sits on<BR>> >Citibank's
board. Maurice "Hank" Greenburg - The CEO of AIG<BR>> >insurance, manager
of the third largest capital investment pool in<BR>> >the world, was
floated as a possible CIA Director in 1995. FTW<BR>> >exposed Greenberg's
and AIG's long connection to CIA drug<BR>> >trafficking and covert
operations in a two-part series that was<BR>> >interrupted just prior to
the attacks of September 11. AIG's stock<BR>> >has bounced back
remarkably well since the attacks. To read that<BR>> >story, please go
to<BR>> ><BR>> > <<A
href="http://www.copvcia.com/stories/part_2.html">http://www.copvcia.com/stories/part_2.html</A>><BR>>
><A
href="http://www.copvcia.com/stories/part_2.html">http://www.copvcia.com/stories/part_2.html</A><BR>>
><BR>> >One wonders how much damning evidence is necessary to
respond to<BR>> >what is now irrefutable proof that CIA knew about the
attacks and<BR>> >did not stop them. Whatever our government is
doing, whatever the<BR>> >CIA is doing, it is clearly NOT in the interests
of the American<BR>> >people, especially those who died on September
11.<BR>> ><BR>>
>
end<BR>> ><BR>> > Peter Phillips Ph.D.<BR>>
> Sociology Department/Project Censored<BR>> >
Sonoma State University<BR>> > 1801 East Cotati Ave.<BR>>
> Rohnert Park, CA 94928<BR>> >
707-664-2588<BR></FONT></DIV></BODY></HTML>