Option trading before 9/11

Rickards, a well-known Wall Street lawyer, fund manager, gold market analyst, and author, did so. Its hooves would bleed, and the animal stumbled. The Indian was to kneel above his dying prey, putting his mouth to that of the deer, stealing its last breath.

While he had earned the swiftness of the beast in its before, he was struck by its peace and stillness, and by his own.

With respect to his professional background, we can highlight the fact that Rickards was involved in releasing the U. Later on, he led the negotiations with the Federal Reserve Bank of New York in when the infamous hedge fund Long-Term Capital Management LTCM had to be rescued. And a decade after that, he participated in a pioneering financial-war simulation under the direction of the Pentagon.

He gave me some answers that he explicitly allowed me to reproduce at the time. Well, the trading documents certainly look suspicious. It is simply a fact that an unusually high volume of purchases of put-options for the two airlines occurred over the three trading days before the attacks. This is a mere fact, no speculation, no guessing around. This is clearly obvious from the documents of the trading sessions on the derivatives exchanges. Do you think that the intelligence agencies could trading got a warning signal based on this information?

Theoretically that is possible, if are you are looking and watching out for this. But there was far more significant information, which was ignored.

Do you also think that some people with foreknowledge operated speculatively in the option markets? Based on the documentation of the trading session it seems that this has been the case, yes.

In London, where we met at a gold conference held before the Savoy Hotel, he mentioned nothing about the U. First of all, it is the subject of a decades-long dispute between its inventor, William A. Granted, these capabilities sound hardly believable. Dick and 9/11 Gibson. However, what Ruppert has collected about PROMIS is based on reputable sources as well as on results of personal investigations, which await a jury to take a first critical look at.

Employed in a speculative trade, so called put options are bets that trading value of a specific underlying stock will drop. Such put options were purchased around Tuesday, September 11,to an abnormal extent. I talked with option journalist Max Keiser, who for years had worked on Wall Street as a stock and options trader, about these put option transactions. I heard firsthand about the airline put trade from brokers at Cantor Fitzgerald days before. There are many aspects concerning these option purchases that have not been disclosed yet.

When the attacks occurred, ABS was owned by Deutsche Bank. An important person at ABS was Buzzy Krongard. I have met him several times at the offices in Baltimore. Krongard had transferred option become executive director at the CIA. The option purchases, in which ABS was involved, occurred in the offices of ABS in Baltimore. The noise which occurred between Baltimore, New York City and Langley was interesting, as you can imagine, to say the least. In April ofKeiser went even further. During a TV interview that he had with none other than hedge-fund manager James G.

Keiser then suggested that CIA insiders may have used prior knowledge to carry-out transactions. On September 12, the chairman of the board of Deutsche Bank Alex Brown, Mayo A. Shattuck III, suddenly and quietly renounced his post, although he still had a three-year contract with an annual salary trading several million US dollars.

A few weeks later, the press spokesperson of the U. Just before he was recruited personally by former CIA chief George Tenet for the CIA, Krongard supervised mainly private client banking at Alex Brown. In FebruaryI wrote an e-mail to Paul Elsberg, a spokesman for Exelon Corp. Shattuck III held a leading operative position. I requested Elsberg to forward my inquiry to Mr.

Shattuck that asked for the reasons for his resignation at Alex Brown on September My request was left unanswered. Treasury Department using Saudi Arabian funds described in an article by Thomas W. Lippman as not being subject to Congressional oversight. Dollar transfers, CHAPS in London for Sterling transfers, and the Swiss Franc clearinghouse in Basel, Switzerland.

The four aircraft hijacked on September 11 were American Airlines Flight 11, American Airlines Flight 77 and UAL flights and On September 26,John Mulheren and I were seated side by side in a fourth-floor vault in the headquarters complex. Mulheren was one of the most legendary stock traders in Wall Street history. His answer was chilling: Trading us stop here for a moment. Yet, a short historical examination of leading personal in the history of the U.

Central Intelligence Agency will tell us a quite different story. For instance, the National Security Act, which created the CIA in the first place inwas written by Clark Clifford. He has been an advisor to U. Truman and served as U. Secretary of Trading under Lyndon B. The predecessor of the CIA, the Office of Strategic Services OSSwas established in the course of World War option, headquartered in the financial district of New York City and highly influenced by the Special Operations Executive SOEa department of the British Secret Service, which in turn was assigned to the Ministry of Economic Warfare.

From toWilliam J. Donovan, co-founder of the Wall Street law firm of Donovan, Leisure, Newton, and Irvine, headed the OSS. After the Second World War, from October onwards, for two years, a remnant of OSS — under the name of the Central Intelligence Group — was part of the U.

State Department, directed by General H. State Department in the course of the War and Trading Studiesfinanced by the Rockefeller Foundation, required a much bigger intelligence effort than the Central Intelligence Group could deliver. Dulles and two of the six William H. Jackson and Frank Wisner later joined the agency, where Dulles proceeded to orchestrate policies, such as the overthrow of the Arbenz regime in Guatemala, that he had previously discussed in New York at the Council on Foreign Relations.

InAllen Dulles was appointed by Secretary of State James V. Dulles, a member of the CFR since and a veteran of OSS, became CIA Director in under U.

What was the profession of Allen Dulles — and of his older brother John Foster U. Secretary of State from to ? As a tool for psychological warfare, the CIA created with the support given by CFR member George F. Kennan, then-director of Policy Planning Staff at the U. State Department, the Office of Policy Coordination OPC.

First head of the OPC was a man by the name of Frank Wisner. Before has been his profession before? Another member of the task force, John J.

The close liaison between Wall Street and CIA, which we encounter during this period of time, can hardly be dismissed as pure coincidence. Well, I think that the CIA, which was created in — in the public debates it was the need for an intelligence agency outside the particular agencies of the Army, of the Navy, and the new independent Air Force the same act that created the Air Force created the CIA — but behind the scenes, Wall Street, financial people wanted to regain the same control over intelligence that they had during World War II through OSS.

We could have a whole interview just about that, but the American financial investments in Europe were protected by OSS, key decisions were made not to attack factories, dams etc. Truman always tried to get a non-Wall Street person to head the CIA and that was true until Allen Dulles from Wall Street took over under Eisenhower, but underneath the Truman appointed directors were people almost all of them from Wall Street.

You have to imagine the situation after World War II: Another important man in the history of the CIA was William Casey. During the Second World War he led the European department of OSS.

In this function, Casey oversaw the entire US intelligence community, while personally guiding and directing the CIA. Nixon, Casey had previously presided over the U. Securities and Exchange Commission SECwhich is responsible for the supervision of securities trading in the United States for example, insider trading. During the time of Mr. Casey as CIA chief, Stanley Sporkin was the General Councel of the CIA, after he previously also held a leading position with the SEC for over twenty years.

His successor as General Councel of the CIA was David Doherty, who later moved to the New York Stock Exchange to work there as Executive Vice President. John Deutch, the CIA Director from tobecame part of the Board of Citigroup, nominally the second largest bank in the United States. Nora Slatkin, formerly Executive Director of the CIA.

According to bestselling author Trading, the CIA took notice of the increase in put-option trades before 9/11 11, The largest part of put options which had been bought on the two airline companies, however, had been merely a reaction to the initial terrorist trade.

This group included immediate associates of the hijackers, housemates, and financial backers, as well as family and friends. Those who learned of the coming attacks from the terrorists told others, and the information spread through a social network in much the same way a video goes viral. Many of these theorists claim that agencies and officials of the U.

This nonsense is a disservice to the memory of those killed or injured in the attacks and in subsequent military responses. The hard evidence that the attacks were planned and executed by Al Qeada is irrefutable. Given the magnitude of the attack and the imperatives of human nature, such trading should have been expected. The statistical, behavioral, and anecdotal evidence for insider trading are overwhelming. Terrorist insider trading was not a U.

It was despicable yet, in the end, banal. Small-time terrorist associates could not resist betting on a sure thing, and signal amplification took care of the rest.

The commissioners never met the detainees, were not allowed to submit questions to the interrogators, and could not corroborate some of the evidence attributed to detainee confessions.

KSM was allegedly waterboarded times in one month, and the CIA threatened to 9/11 his mother and kill his children. The purpose of the torture that took place was not so much the interrogation process to obtain unknown information, but rather the conditioning of the detainees, in order to ram certain statements and behaviors down their throats to start with.

Without exaggeration we could say that the U. Senate Select Committee on Intelligence:. This material fact was omitted from CIA representations. Multiple CIA detainees fabricated information, resulting in faulty intelligence. Detainees provided fabricated information on critical intelligence issues, including the terrorist threats which the CIA identified as its highest priorities.

And furthermore, is this something that too many people are ignorant of? Some of those witnesses now are no longer in custody and recanted what they said.

It was a total misguided option, so I think all of that testimony should be thrown out. They were not told that the people were tortured and since then I think both of the co-chairmen, Thomas Kean and Lee Hamilton, have complained that they were actually misled by the CIA.

So, but yes, the fact that they used torture to obtain testimony should not have happened in the first place. It should not have been used before the second place. They should have been candid about the circumstances and they were not, in the third places, so in every way it is a disgrace.

According to Rickards, bin Laden learned on September 5, that certain terror events in the United States would take place on September 11, Many lived in developed countries such as Germany and the United States. Al Qaeda was financially backed by wealthy Saudis who traded stocks on a regular basis.

They said this number is a record, which has never trading since the opening of the market more than years ago…The gross amount that is traded in that market reaches 4 trillion dollars. More importantly, when Al Qaeda is mentioned by James Rickards, about what kind of an organization are we actually option Yet, if you want to take the view of A. At best, al-Qaeda is a network of affiliated groups sharing religious and ideological backgrounds, but which often interact sparingly.

Zarate, who worked at the U. But bin Laden was less connected to the international financial system than most people assumed. He would encounter difficulty running businesses from the hinterlands of Afghanistan. We did find one bin Laden account in a Pakistani bank. The Pakistani government froze the account and passed information about it to us.

Zarate does not mention any other banking accounts belonging to Mr. Treasury took an interest in. Around the same time, the Pakistani daily newspaper Ummat published an interview with bin Laden, which was immediately translated from Urdu into English by BBC World Monitoring Service, after it was confirmed to be authentic.

This proclamation was preceded by a briefing of the North Atlantic Council NAC on October 2, The briefing was presented by Frank X. As an immediate result of the briefing, the NAC took the before before decision, while the text of this decision was not made public. On the option day, the German newsmagazine Der Spiegel reported: But the refusal of all involved to name details nourishes the suspicion that the strength of the investigative results leaves option to be desired.

For all trading, from NATO Secretary General Robertson to German government spokeswoman Charima Reinhardt, stubbornly refused to reveal any details or at least a connection to the traces known so far. Not even front benchers of the government coalition received any new information. Even in the Bundeskriminalamt [BKA, the Federal Criminal Police Office in Germany], where a full staff of FBI officials is currently active, the authorities say there is no new knowledge about the guilt of Bin Laden and before organization.

The same is true at the Federal Prosecutor General. There was no attempt to build a legal case. At best 9/11 evidence is circumstantial. It only needs to persuade governments around the world to back the US-led war on terrorism and to a lesser extent to carry public opinion. US and British officials have indicated that they are unable to reveal all the evidence for security reasons.

The Bush administration categorically rejected this request. General Richard Myers, then-chairman of the Joint Chiefs of Staff, later admitted: It featured for a long time Osama bin Laden for the U. Embassy bombings in Tanzania and Kenya from Even Richard Cheney expressed this view. In Marchhe said as acting Vice President of the United States of America during an interview for the Tony Snow Show: That evidence has never before forthcoming.

Already by the end of OctoberFrancis A. Bush forbade him 9/11. In fact, on September 23,Colin Powell was asked in the NBC TV show Meet the Press by host Tim Russert, whether he would publically release a white paper which would link bin Laden and his organization to the September 11 attacks. And I think in the near future we will be able to put out a paper, a document that will describe quite clearly the evidence that we have linking him to this attack.

At noon, a press conference was held in the Rose Garden of the White House. It contained a different message. Bush, who had just signed an Executive Order to freeze financial assets of terrorists, said in the presence of Powell:. To which the interviewer of Der Spiegel replied: Evidence was not important because Bush had already decided in favor of war. Clarke, who was then the Chairman of the Counter-terrorism Security Group at the White House under President George W.

Bush, talks about a conversation that took place on the evening of September Of course, as far as Osama bin Laden is concerned, there is this infamous video tape that was discovered in a house in the Afghan city of Jalalabad by the CIA. The CIA gave the tape to the people at the Pentagon. However, six days later, the German TV magazine Monitor reported that it had procured the Arabic version of the video tape from the U. State Department, so that it could be analyzed by independent linguists and orientalists.

And, lo and behold, according to those experts, the English translation, presented by the U. Before translation is very problematic. Gernot Rotter, professor of Islamic and Arabic Studies at the Asia-Africa Institute at the University of Hamburg, added: Why would a world-famous terrorist with a declared vendetta against the United States publicly declare his innocence in the most devastating terrorist attack on American soil, if he alone actually orchestrated this terrorist masterstroke?

Can the US government provide proof of the provenance and chain of custody of the confession video? So far it has not. It did make a big impression on James Rickards though. Rickards then does the math for his reader: Bin Laden made the remarks in Afghanistan on September 6,local time, 9. This finding is consistent with informed investors having traded options in advance of the attacks.

Munich Re and Swiss Re. This suggests that owning a put was a valuable investment and those who owned them could sell them for a considerable profit before the expiration date. Ultimately, the three authors pointed out: From those three academic works, Rickards cites especially the paper authored by Poteshman. In terms of the long-term study undertaken by Chesney et al. In repeated fashion, he explicitly speaks only about the two airline companies.

In addition, the interpretation is submitted at once, option that the receiver of the message understands the small excerpt in a correct way — that is, in line with the wishes of the sender. But perception is everything; perception creates reality. In other words, an event is framed in an interpretive manner.

The framework in which the event is discussed brings certain points to the surface, while others are disregarded or suppressed. It remained unanswered, although in the past it had been easy for me to get interviews from him for professional financial websites. National Security Agency, explained to me in After September 11, the NSA battened down the batches with respect to the critical information contained in ThinThread. In Julyat the National Whistleblower Appreciation Day of the Government Accountability Project in Washington D.

As a result, NSA shut it down. The entire program was shut down, all the results were buried and a cover-up 9/11. In an interview that we conducted in DecemberI asked Thomas Drake already back then, whether he thinks that intelligence information is used by big players for insider trading, respectively informed trading. Yes, precisely because I can convert it. How do you manage and exercise the fungibility. How do you optimize its fungibility-ness to say it that way.

Look at the stock market — this is institutional manipulation at the highest levels of government in collusion with the levers of financial power. I mean, that was part of the joke when the insiders in terms of Wall Street is that, you know, the full faith in credit of the United States was there to prop them up if it all failed. And ultimately who pays the price? I mean ultimately, in the end, who pays the price?

A lot of this was paid by money, but the thing is ultimately there have to be real assets behind it, and when the assets themselves are now being leveraged to the hilt what are you left with?

What, to whom, does this benefit go? I always follow the money, who does it benefit? And towards what end is it used? Well, you see the large contours of it already. The effects do show up in the economy. The effects do show up in the impact on just the everyday financial flows. The enormous transactions that course within and between nations and around the globe.

Yes, and then you have secret power. I mean, this is then the crack version of this aphrodisiac. Well, you say the crack version, but people mainline it.

Is it going to be a new Porsche or is it going to be that new summer place on the beach, the cottage on the beach. I mean, that was the priority.

This is what happens. The money is the root of a lot of things. Furthermore, when asked in the already mentioned TV interview with Max Keiser about the put-option trades undertaken at Alex Brown, Rickards simply reflected trading issue by replying: Even for those two 9/11, the references are strange.

The proper reference is the J. The author works so closely to intelligence agencies that he is characterizing academic work as if it were administratively like those agencies, i. Anyway, what I think can be learned is that the intelligence agencies are taking insider trading seriously, unlike the Commission Report who Rickards applauds … except — pp. On the bottom of p. The Commission, of course, also ignored many reports of hijackers being alive after He raises the issue of before amplification.

I am not convinced, 9/11 if correct, it would imply much less money earned by nefarious characters than would otherwise be the case: In any case, Rickards does not even cite the background, unpublished, work behind the Commission Report which claimed that many of the purchasers of AA options were interviewed and stated that they followed the newsletter that was cited; i. Nowhere in the chapter 9/11 there any evidence provided of WHO were the insider traders.

This absence is hardly surprising but trading to be recognized. Up to this moment, Mr. It was reinforced by a report commissioned in by navy secretary James V. The report was written by Ferdinand Eberstadt, who like Forrestal was a private Wall Street banker from the investment bank Dillon Read. At the turn of the millennium, according to Ruppert, Sullivan and Cromwell had, inter alia, Enron, AIG and the Harvard Endowment as clients.

Oil Majors, see for example Peter Dale Scott: The Chase National Bank merged in with the Manhattan Company into Chase Manhattan Bank. The Rockefeller family owned at that time and in years to come about 5 to 6 per cent of all voting shares of Chase — a significant de facto control.

Ahmed refers to a report written by Michael C. The article was taken offline, but is still available on the internet under: Those chapters cover the initial planning for the attack, the assembling of terrorist 9/11, and the arrival of the hijackers in the U. She was present when he was again and again being subjected to simulated drowning. However, she did not before this to the FBI, responsible for counter-terrorism in the U.

A special prosecutor and Grand Jury investigated those actions but ultimately chose not to prosecute. The Evidence; NATO Says U. The article stated furthermore: With respect to the extradition issue of Osama bin Laden to the U. At that time, too, the response in Washington turned out to be negative. Boyle, published at Der Spiegel on October 31, under: Boyle, published at LarsSchall. Thompson und Kweehong Teh: The authors refer to Erin E.

See further Robert M. Bush, but Nicholas Negroponte, the founding Chairman of the MIT Media Lab, who noted: Some unusual trading did in fact occur, but each such trade proved to have an innocuous explanation. For example, the volume of put options — investments that pay off only when a stock drops in price — surged in the parent companies of Option Airlines on September 6 and American Airlines on September 10 — highly suspicious trading on its face.

A single US-based institutional investor with no conceivable ties to al-Qaeda purchased 95 percent of the UAL puts on September 6 as part of a trading strategy that also included optionshares of American on September Similarly, much of the seemingly suspicious trading in American on September 10 was traced to a specific US-based options trading newsletter, faxed to its subscribers on Sunday, September 9, which recommended these trades.

These examples typify the evidence examined by the investigation. The SEC and the FBI, aided by other agencies and the before industry, devoted enormous resources to investigating this issue, including securing the cooperation of many foreign governments. These investigators have found that the apparently suspicious consistently proved innocuous. Beware of a Limited Hangout, Part One.

Why is this software program of interest, you 9/11 ask. At the beginning, he invokes for his readers some sort of a Hollywoodesque opening scene: At first, he writes: Senate Select Committee on Intelligence: How about Osama bin Laden? Bush, who had just signed an Executive Order to freeze financial assets of terrorists, said in the presence of Powell: Could you give us the short version then?

Notes for Part One: Posted in FinanceGeopoliticsTerror. Powered by WordPress Modern Style theme by FlexiThemes.

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