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THE LIE WON’T STAND
Bush Administration
Explanations for
Pre-9-11 Warnings Fail the Smell Test.
Warnings Received From Heads
of State, Allied
Intelligence
Services Specifically Warned of Suicide Attacks by
Hijackers.
Insider Trading Also Clearly Warned of
Attacks.
By
Michael C. Ruppert
http://www.fromthewilderness.com/free.......
© Copyright 2002, From The
Wilderness Publications, www.copvcia.com.
All Rights Reserved. May be
reprinted, distributed or posted on an
Internet web site for
non-profit purposes only.
May 16, 2002, 19:00 PDT (FTW) --
Never in the history of scandals involving
the United States government has an
attempt to conceal criminal conduct by an
administration been more transparently
dishonest or more easily exposed. On May
15 White House Press Secretary Ari
Fleischer -- while making the startling
admission that President Bush received CIA
and FBI intelligence briefings in August
indicating Osama bin Laden might be
planning hijackings -- told major news
sources including CBS News, “All
appropriate action was taken based on the
threat information we had,” Fleischer
said. “The president did not -- not --
receive information about the use of
airplanes as missiles by suicide bombers.”
In other statements Fleischer told the
press, “The president was also provided
information about bin Laden wanting to
engage in hijacking in the traditional
pre-9-11 sense, not for the use of suicide
bombing, not for the use of an airplane as a
missile.” According to a May 16 story by the
New York Times, “Mr. Fleischer said the
information given to the president in Texas
[last August], had prompted the
administration to put law enforcement
agencies on alert.”
Every major position taken by an
administration in full retreat and on the
defensive can be easily deconstructed and
shown to be false.
For more than seven months FTW has been
documenting specific warnings received by
the U.S. government from both foreign
intelligence services and, in one case, from
Russian President Vladimir Putin, indicating
commercial airliners were going to be used
by terrorists to attack -- among other
things -- the World Trade Center in the week
of Sept. 9. In order for Fleischer’s
statement to be credible he would have to
assert then that George W. Bush either
ignored or was not informed of a direct
warning from a head of state and also from
the German intelligence service, the BND.
As reported in the German daily
Frankfurter Algemeine Zeitung (FAZ)
http://www.fromthewilderness.com/free/ww3/f_a_zeitung_story.html
on Sept. 14, the BND warned both the CIA
and Israel in June that Middle Eastern
terrorists were “planning to hijack
commercial aircraft to use as weapons to
attack important symbols of American and
Israeli culture.” The story specifically
referred to an electronic eavesdropping
system known as Echelon, wherein a number
of countries tap cell phone and electronic
communications in partner countries and
then pool the information. The BND
warnings were also passed to the United
Kingdom.
No known denial by the BND of the accuracy
of this story exists, and the FAZ report
indicates the information was received
directly from BND sources.
According to a Sept. 14 report in the
Internet newswire online.ie,
http://www.fromthewilderness.com/free/ww3/online_ie_story.html
German police, monitoring the phone calls of
a jailed Iranian man, learned the man was
telephoning U.S. intelligence agencies last
summer to warn of an imminent attack on the
World Trade Center in the week of Sept. 9.
German officials confirmed the calls to the
U.S. government for the story but refused to
discuss additional details.
According to a story in Izvestia on Sept.
12, Russian intelligence warned the U.S.
last summer that as many as 25 suicide
pilots were training for suicide missions
involving the crashing of airliners into
important targets.
In an MSNBC interview on Sept. 15, Russian
President Putin stated he had ordered
Russian intelligence to warn the U.S.
government “in the strongest possible terms”
of imminent assaults on airports and
government buildings before the attacks on
Sept. 11. No credible information has
emerged from any source indicating that
Putin omitted the above information when
issuing the warning.
Many other direct warnings were received by
the U.S. government and have been documented
in FTW’s 9-11 timeline located at:
http://www.fromthewilderness.com/free/ww3/02_11_02_lucy.html
These stories give the
immediate lie to Fleischer’s statements
that Bush had no inkling of airliners
being used as weapons.
But there is
more.
In 1996 -- as reported by the German paper
Die Welt on Dec. 6, and by Agence France
Presse on Dec. 7 -- Western intelligence
services, including the CIA, learned after
arrests in the Philippines that Al Qaeda
operatives had planned to crash commercial
airliners into the Twin Towers. Details of
the plan, as reported by a number of
American press outlets, were found on a
computer seized during the arrests. The
plan was called “Operation Bojinka.”
Details of the plot were disclosed
publicly in 1997 in the New York trial of
Ramsi Youssef for his involvement in the
1993 World Trade Center bombing.
FBI MEMOS TRIGGER WHITE
HOUSE BACKSTEPPING
In “traditional” hijackings
the hijackers have no need or desire to learn how
to fly.
As reported by the New York Times, CNN and
the Washington Post (among others) the
events leading to Fleischer’s statements
were the recent disclosure of FBI memoranda
originated by field agents in Arizona and
Minnesota that warned of a possible hijack
attempt by bin Laden’s followers. In both
cases the suspects were taking flight
lessons.
According to Newsweek and the New York
Times, FBI agents in Phoenix submitted a
classified memorandum in July naming Osama
bin Laden and tracking the activities of
possible Middle Eastern terrorist suspects
who had enrolled in local flight schools.
The memo, according to the Times, stated bin
Laden’s followers “could use the schools to
train for terror operations.” The
information in the Phoenix memo was not
shared with FBI field agents in Minnesota
who had uncovered other startling evidence.
Just days before the attacks in
early-September, FBI agents in Minnesota
wrote notes that subsequently became
included in an internal FBI document
warning that accused terrorist Zacarias
Moussaoui “might be planning on flying
something into the World Trade Center.” A
story from the May 20 issue of Newsweek by
Michael Isikoff described how a local
flight instructor had reported Moussaoui
had “showed a suspicious interest in
learning how to steer [and not land] large
airliners…The [FBI] agents were ‘in a
frenzy, absolutely convinced he was
planning to so something with a plane.’”
A multitude of sources have reported the FBI
agents requested a warrant to search
Moussaoui’s personal computer but were
denied by Attorney General John Ashcroft’s
Justice Department. After the 9-11 attacks
the computer was seized and found to contain
information directly related to the World
Trade Center attacks.
This apparent lack of
support from within the administration is
consistent with reports released last fall
by the BBC’s Gregg Palast showing that in
January 2001 the Bush Administration had
issued direct orders to the FBI to curtail
investigations of two of Osama bin Laden’s
relatives, Omar and Abdullah bin Laden.
The two bin Ladens had been connected to
possible terrorist activities and were
living in Falls Church, Va., near CIA
headquarters.
APPROPRIATE WARNINGS?
Fleischer’s statement that adequate warnings
had been given to appropriate federal
agencies falls flat on its face. Two of the
most “appropriate” agencies would have been
the Federal Aviation Administration (FAA)
and the U.S. Air Force and Air National
Guard.
As documented by researchers like Jared
Israel at www.tenc.net, it has been standard
FAA procedure for more than 25 years to
scramble U.S. fighters to intercept -- not
shoot down -- any errant or non-responsive
aircraft under FAA control. This protocol is
even more stringent in the case of a
hijacking. Yet, Vice President Dick Cheney
and others have stated publicly there were
no fighters available in some cases, and
there was no heightened state of alert on
Sept. 11. For 50 minutes on 9-11, in direct
contravention of established policy, no
fighters were scrambled to intercept two
outstanding hijacked airliners even though
it was known attacks were in progress.
Given the above
information, it would have been an obvious
move to have placed fighter aircraft on a
heightened state of alert in this time
period. This unresponsiveness stands in
contrast to the fact that, in October 1999
at a time when there was no heightened
alert, the ill-fated Lear Jet occupied by
golfer Payne Stewart had an F-16 fighter
and an A-10 attack aircraft flying beside
it within minutes of losing radio contact
and veering off course.
INSIDER TRADING
FTW has spent months on this important story
that proves foreknowledge of the attacks by
people who also profited from them. This was
a glaring warning signal, since such trades
ran the risk of being detected by
intelligence agencies that routinely monitor
all market activity in real time.
The insider trading involves the placement
of large numbers of “put” options on stocks
of companies directly affected by the Sept.
11 attacks. They include United Air Lines,
American Air Lines, Morgan Stanley, Merrill
Lynch, AXA Reinsurance, Munich Reinsurance
and Swiss Reinsurance. Put options are a
leveraged bet that a stock’s price will fall
dramatically.
As CBS news noted on Sept. 26, the peak of
trading activity occurred just before the
attacks. There was a jump in United Air
Lines put options 90 times (not 90 percent)
above normal between Sept. 6 and Sept.10,
and 285 times higher than average on Sept.
6. Numbers for other affected stocks were
equally alarming. It is uncontested that
only United and American stocks had this
level of put buying before the attacks. No
other airlines were affected.
A May 13 story by the Washington Times’
Insight Magazine attempted to explain the
insider trading by stating higher numbers
of put options had been placed on United
and American stocks earlier in 2001. By
relying only on the numbers of put
options, Insight asserted that there was
nothing unusual about the pre-9-11 trades.
However, FTW has contacted several
experienced traders and reviewed existing
documentation from financial experts, which
indicate the alarm for insider trading is to
look for any “imbalance” between the level
of put options (a bet that a stock’s price
will fall) and the level of call options (a
bet that a stock’s price will rise). It is a
significant imbalance in puts vs. calls that
indicates criminal insider trading. The
Insight piece did not address this point.
Several traders have stated that in a fairly
flat market with high trading volumes, it
has been a routine procedure for experienced
traders to place roughly equal numbers of
puts and calls on various stocks in order to
generate a paper cash flow. They were quick
to point out that by September, the market
had gone into sharp decline and trading
volumes were way down. Thus, lower numbers
of put options did not mean that everything
was normal. They stressed it was the
imbalance in put-to-call ratios that
signalled the insider trading. [Ed. Note: FTW
has undertaken a more detailed investigation
of this trading activity and hopes to have a
more comprehensive report within 4-6 weeks].
Part of the problem in Insight’s research
stems from the fact that since Sept. 11,
there has been no transparency from either
the government or the financial sector on
how the trades worked or how the markets
tracked them. Secrecy is everywhere.
Telephone calls have not been returned,
and the government refuses to divulge any
information about probes it admits are
still ongoing. But simplistic dismissals
from sources quoted in the Insight story
contradict not only other evidence, but
statements made by financial experts and
major news sources just after the attacks.
“This could very well be insider trading at
the worst, most horrific, most evil use
you’ve ever seen in your entire life…This
would be one of the most extraordinary
coincidences in the history of mankind if it
was a coincidence,” said Dylan Ratigan of
Bloomberg Business News, interviewed Sept.
20 on Good Morning Texas.
“’I saw put-call numbers higher than I’ve
ever seen in 10 years of following the
markets, particularly the options markets,’
said John Kinnucan, principal of Broadband
Research, as quoted in the San Francisco
Chronicle,” reported the Montreal Gazette on
Sept. 19.
To quote 60 Minutes from Sept. 19, “Sources
tell CBS News that the afternoon before the
attack, alarm bells were sounding over
unusual trading in the U.S. stock options
market.”
Assertions that the reported number of
puts involved were not abnormal also
failed to analyze highly intricate shell
games that involve the movement of put
options to markets outside the U.S. or
hidden in what traders refer to as “net
positions.” Serious financial experts have
indicated the profits from insider trading
could have been in the billions. Andreas
von Bulow, a former member of the German
parliament responsible for oversight of
Germany’s intelligence services, estimated
the worldwide amount at $15 billion,
according to Tagesspiegel on Jan. 13.
Other experts have estimated the amount at
$12 billion. CBS News gave a conservative
estimate of $100 million.
A hasty conclusion reached by many is the
insider trades were placed by bin Laden and
his associates. Such a notion is flatly
contradicted by the now absolute certainty
that such insider trades would have -- and
apparently did -- set off alarm bells. It
makes little sense to argue bin Laden et al
would have risked compromising at the last
minute an operation planned in total secrecy
for at least four years.
Also lacking credibility is the argument
that many of the trades were what some
brokers described as inconsequential
amounts valued at $1 million or $2
million. This does not address the
possibility that U.S. intelligence
officials decided in a few cases to make a
quick profit from attacks they knew were
going to succeed. As distasteful as it may
seem, this explanation is far more
credible than an assumption that bin Laden
made the trades himself and risked the
exposure of what the world has been led to
believe was his life’s “masterpiece.”
For more information on 9-11
insider trading please visit
www.copvcia.com
The explanations offered by the Bush
Administration over the last 48 hours will
not withstand even the slightest scrutiny
if a major press organization asks any
question about the warnings received from
credible foreign government sources and
heads of state. Other questions must
inevitably follow that will implode an oil
dictatorship whose sins and crimes are
exposed and just waiting for someone to
pick them up and run with them.
http://www.fromthewilderness.com/free/ww3/051602_liewontstand.html
http://www.copvcia.com
THE 9-11 DECEPTION
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