More on inside trading

>
>
> 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
>
> [� 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 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., with headquarters near the Twin Towers, 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" 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 of insider
> trading
> activity connected to Munich Re. 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.fromthewilderness.com/
>
> free/ciadrugs/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.
>
>

-- Kraig Grady
North American Embassy of Anaphoria island
http://www.anaphoria.com

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