Subj:	Fw: CIA Trade Trail
Date:	11/28/01 12:40:37 PM Pacific Standard Time

The insider trading trail leads directly to the CIA
I keep hearing all these banking and law enforcement officials humming and
hawing about how hard it is
to figure out who shorted the airline and insurance stocks immediately
before
the 9/11 event. No one
denies that there were remarkably high volumes of purchases of put options
on
these stocks in the three
days preceeding 9/11. They just say it is extremely difficult, if not
impossible, to figure out who
purchased those contracts. This makes absolutely no sense.

The following article gives a probable explanation of why the authorities
are
pretending not to be making
any progress in this aspect of the investigation. This, in conjunction
with a
great deal of other strong
evidence, proves what any politically savvy individual already knows,
namely
that the CIA and other
aspects of the global intelligence and control community knew very well
that the
"terrorist strike" was
going to happen and they allowed it to happen, and probably even aided and
abetted in its occurrence.
One simply needs to ask, who benefited from this crime? The answer is
obvious if
one studies the basics
of real world affairs, not the fairy tale that the official press
("government
propaganda outlet") dishes out.

Tuesday, October 09, 2001

CRIMINAL INSIDER TRADING EVIDENCE LEADS DIRECTLY TO CIA'S HIGHEST
LEVELS

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. That evidence also demonstrates that, 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" 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," purchased at nominal prices of, for example, $1.00 per share,
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 optionsS 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;S
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.

"S 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."

  "SThe 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 optionsS"

  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, and which 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 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.
  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.

--



As a man digging comes to water, so a zealous student attains unto
knowledge.
  - from Gems from the East by H.P. Blavatsky

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